The sun., 1901-02-09
CONDITION OF TRADE.
Dun & Co.'s Review and Forecast Of
Business.
SOUTHERN PACIFIC DEAL.
How 1t Affected the stock Market
In New YorL-Activity In the
Retail Trade - Wheat
Takes a Drop. 81.


sonable weather in the east has brought
up the volume of business in retail linet
a little this week, and at the west and
south distribution of merchandise Is on
a satisfactory scale. Prices Of staple
products show but moderate decline, and
quotations of manufactured goods are
steady in all directions. Pressure to sell
is everywhere conspicuously absent.
Jobbers report good orders for spring
goods, particularly for the western trade,
and the only complaint still comes from
the wooden goods market in the east.
which has not yet felt the expected
stimulus. In this line, however, prices
do not decline, and agents expect better
conditions.
Comparative returns to date OF railroad
earnings in January show an increase
over last year Of S.S per cent and a gain
over 1899 of 2S.4 per cent. The heavier
gains are reported from the south and
southwest and are believed to reflect ex-
panding wholesale trade in dry goods
and groceries. Bank clearings at New
York for the week gained 39.1 per cent
over 1900 and 1886 per cent over 1899,
while at leading cities outside New York
there is a gain OF As per cent over last
Activity In Footwear.
Activity continues in footwear, jobbers
| placing large contracts at well sustained
| prices. No alterations are reported in
| quotations, but there is some evidence OF
slight reduction in quality, purchasers re-
fusing to advance their figures and ac-
cepting somewhat lower grades instead.
This appears to be practically equivalent
to rise in prices The large number Of
buyers in the Boston market indicates
that heavy contracts will be placed, in
suring busy shops for many months. Lo-
cal jobbing and retail trade were helped
by seasonable weather, notably rubber
| footwear.
Textile industries do not revive appre-
ciably, even the lower temperature fail
ing to infuse life into woolcns, aside from
better retail dealings. Manufacturers
make small purchases Of raw material,
showing preference for the cheaper
grades and even then insisting on small
concessions. London auction operations
became less satisfactory as the sale pro
gressed. Cotton goods are uniformly
dull with some labor controversies added
20 the other troubles at the mills. An
other reduction in the average price OF
raw silk makes loss os nearly 81 pei
pound since Jan. ], 1900.
slump In Wheat Market.
During the week wheat fell below 81
cents, ample snow affording the desired
protection in winter wheat states, Will.
the chief support was d better inquiry OF
foreign account, including moderate pur
chuscs for Spain. Atlantic exports TO
the week, including -four, were 2,S74, IL.
bushels against 2,247,i02 in the weel
preceding and 2,115,SI5 year ago. Corr
is quiet, maintaining an advance Of owe
. . cents compared with the same date las
year.
:, Stock speculation again increased heay
lily In volume and at the end of the wee
closely approached the January record
After showing much hesitation for tim
the market recovered tone rapidly, an,
Y prices forged ahead under the inhuenc
of the purchase Of the controlling inter
est In the Southern Pacific company b.
Union Pacific and reports that arrange
ments are being perfected by prominen
banking houses TO effect a community q
interest, ii not an actual consolidation, Q
! some Of the larger steel companies.
Receipts Of Currency.
Liberal receipts of currency from th
. country are still reported by all the la
!. ger banks, with more to come II rat,
! here can only be advanced n shade MOI
- than they have been this week. The il
!, terror movement has thus far nearly of
! ! set the heavy increase in loans shown |
- the banks in the last few weeks, whit
II is probably due largely TO the syndica
" operations in Southern Pacific stock al
other railway deals. A slightly strong
tone is seen in time money.
Liabilities of commercial failures in Il
u first week in February were S2,469, %
~ Of which SS6S.1S7 were in manufacture
u and 81, ,232,24T in trading. In the san
y, week last year defaults We're $2,9j3, "a
y of which S1,120,l15 were in manufactu
= ing and $1,370,6 SOP in trading. In the q
~ responding week of 1899 the total "
u heavier at $299O,9T2. Failures for t
e week were 2GD in the United Stat
u. against 2I5 last year and 80 in Cana
"a % la 7,.,nr