The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1901-07-24
R. G. DUNN REVIEWS TRADE.
Farmers in Coed Shape to Stand
Small Corn Crop.

New York. July l9.-R. G. Dun &
Co.'S. weekly review of trade tomorrow
will say:
Anxiety regarding unfavorable posi-
bilities in the future rather than any
actual present misfortune, depressed
securities and caused cancellation of
some orders for merchandise by west
ern dealers. Retail distribution of
goods will not be curtailed by the labor
controversy unless it is Of long dura-
ton, as the men have saved money
during the recent period of full en-
ployment at high wages. Similarly,
in some agricultural districts where
there is fear that little corn will be
harvested, preceding bumper crops at
good prices have put farmers in such
prosperous condition that their pur
chases will not fall off materially,
while the greatest crop of wheat on
record has not brought return to the
low prices of previous heavy yields.
Beyond advancing prices of steel
sheets and depressing the markets for
tin, quotations have not been affected
by the strike of the Amalgamated AS
sociation. Pig iron furnaces are not
disturbed. although record-breaking
production will bring accumulation of
Stocks if the rolling mills are kept
idle for any length of time.
In the branches not directly con-
cerned there is no change of condi-
tions. orders frequently running a
month ahead. In anthracite coal re-
gions work has also been interrupted.
but the recent exceptionally heavy
output assures abundant stocks for
some time.
Woolen mills are more generally
active than at any time this year. or
ders for heavy weight goods arriving
in large numbers. The light weight
season will soon open. and although
it is expected that concessions Of from
5 to 10 per cent. from last years prices
will be made, there is prospect of
profitable operation unless the raw
material should advance. In cotton
goods the situation is unchanged.
There was a decline in cotton below
s - cents. followed by slight recovery
as news from plantations failed to show
the desired improvement Foreign
consumption is light, Judging by re-
duced exports, and port receipts of the
old crop are still liberal. These are the
depressing elements that keep prices
1-2 blow last year.
Stability Of prices seems assured in
the footwear industry. The firm tone
is sustained by the steadiness of leath-
er, and buyers are not seeking conces-
sions. Factories are running full time
with orders on hand for months ahead.
Hides are fairly active and steady,
some grades at Chicago tending down
ward on account of increased receipts
of cattle because of the drought, but in
the long run this should be support.
ing factor, as later arrivals must show
at least an equivalent decrease.
Calmer counsel prevailed in the
grain markets, exaggerated dispatches
were discounted and variations in
quotations were less extensive. After
a severe break from the best price last
Friday wheat steadily advanced as the
feeling became general that foreign re-
quirements would bring new record
for exports possibly exceeding 250,-
900, 600 bushels. Some Of the heavy
crop also may be used for fodder in
sections where corn is deficient. These
Influences fully Offset the effect Of in
terror receipts for the week Of 6, $780,
242 bushels against only 4, ,332, ,254 last
year. Atlantic exports show large
gain over last years figures. for the
week amounting to 1902, 775 bushels
against 1,84l, SS1 a year ago. After
some reaction corn recovered most Of
the loss, and holders showed their con-
fdence in values by marketing only
3, 361, 942 bushels for the week against
4, ,416, 153 a year ago, although the
high price was distinctly reflected in
Atlantic shipments of only 1.176, 9S2
bushels against 1851, 1876 in 1900.
Failures for the week numbered 1913
in the United States aginst 23l last
year and - in Canada, against p last
year.