The Washington times., 1901-11-16
DUN's REVIEW OF TRADE.
All Previous Records in SIanufactur-
ing Industry Surpassed.

I NEW YORK, Nov. 15.-Dun review To-
morrow will say:
"A few months ago injury to the corn
crop aroused fears that the railroads
would be seriously handicapped by the
/ loss Of tonnage, yet the season OF grain
/ traffic has not only failed to produce de
I creased earnings. but there is such a
J scarcity of rolling stock and motive pow
] er that numerous industries are badly
( demoralized In so far as these interests
! are concerned the reduction IN corn
] freight proves a blessing. Railway earn
/ ings in October were li-3 per cent greater
! than last year and 2l.2 per cent over 1899
while those roads reporting for the hrst
week of November show an average gam
! of gS per cent.
"A healthy demand is reported through
out the country in all leading lines OF
merchandise, while sales of winter goods
have attained normal proportions ana
holiday business promises to surpass all
records In manufacturing there was new
er before such sustained activity, with
contracts running past the middle OF next
year This is especially true in the case
OF steel rails and many other products OF
iron while in building materials, felt,
footwear and most textile branches there
is little prospect of idieness Money circu-
la:es freely, making collections satisfac-
tory in most sections. Bank exchanges in
New York were SO per cent lower than a
year ago and 321 per cent over 1893, while
at other leading cities the gains were
102 and 90, respectively.
Unprecedented conditions in the iron
and steei industry are shown by the sta
tistics OF pig iron on November l. as pub
lished by the Iron Age Furnaces in
blast were producing at the rate of 320S2i
tons weekly, which far surpasses all pre-
viOus records. There has been no iniia-
tion of prices. and the speculative ele-
ment is entirely lackir g, a sign that no
disastrous collapse is TO be feared.
while shipments OF footwear from Bos-
ton continue far in excess Of previous
N~fsa
situation is not satisfactory. Prices are
not maintained at a profitable point, ow-
ing to the phenomenal strength of raw
material and the stubborn resistance Of
BUYERS. Print cloths at Fall River are
quiet. recent unusual events having pro-
duced a tendency 10 await developments
Both buyers and sellers made sufficient
concessions on brown goods to secure
large exDort sales. Further gains are
recorded in woolens. business reaching the
best of the season
IAN official report of the lowest average
yield of corn per acre was calculated to
strengthen prices. but the phenomenal
quotations already prevailing would seem
fully to discount GONcrI.ment figures. For
eign buyers have been- driven out of these
markets the weeks exports from the At
I1utic Coast amounting to only 5S5,9l4
bushels, against 3.72Ge56 year ago.
Wheat rose to the. best prices of the crop
which II is still freely substituted. Cot
ton recovered FROM the bottom point of
the season, though port receipts are
heavy. ~
"A year ago exceptional activity oc-
Cured in Wall Street and the sixty most
active railway stocks rose to an average
Of 81 so a sharc,-eXceCding all records for
eighteen years on Monday Of this week
the average was Slos-26, IN advance of
over 80 per cent. Some Re lion followed,
and closing prices wers /. low the best
Further exports of gold raised the total
above SlO,000,OO since the movement be
gan.
TO the many who have been bewailing
the tone Of our export trade the official
report fer October ITust be Il sad dis
appointment According TO this state
ment merchandise sent abroad last month
was valued al Sl45, ,6i0, ,45S. surprising every
preceding month ON record with he ex-
ccption of October and December, 1900
Meanwhile purchases i'm markets abroad
also approached the top record, imports
being valued at Ssl 4li ,45f.
Failures for the week numbered 2l5 in
the United States against 2l7 last year
and q In Canada, against 80 last year"