New-York tribune., 1901-05-06

Be1ore rlttspurg had replaced the property lost
by flood there came disastrous fire. while the
entire city OF Jacksonville has been devastated.
Yet, Phenixlike burned American cities always
rise from the debris more magnificent and pros
porous than before
There was never time in the history of the
nation when bulldog operations were being
pushed to the extent now seen in all parts ~
the country. At many points there is delay
through inability to secure materials. owing to
the avalanche of orders received by manufact
urers. Other contractors are embarrassed nv
striking employees, who seize this as a favorable
opportunity to secure higher wages or shorter
hours. notwithstanding these interruptions
work is vigorously prosecuted. and dealers in
structural steel. lumber, builders hardware and
other kindred supplies doing a brisk busi-
ness ana window glass makers voluntarily ad-
vanced the wages of 100 men Is per cent
Nothing new is recorded of the iron and steel
Industry. Prices are firmly maintained and the
enlarged capacity OF mills and furnaces seems
assured of full operation we'll into july even If
not another order is received Despite un-
paralleled domestic trade manufacturers have
found time to handle much foreign business. and
incomplete returns for April make a much bet
ter comparison with last years figures than
appeared in March, while the purchase of
the future.
That fundamental conditions have indeed al
tered wonderfully was shown during the sharp
fall of prices in the stock market last vvael,
Prior to this new era Of big things It would
have been called a disastrous panic or .Blacl,
Friday Instead it was Wholesome reac-
tion,' corrective of overtrading' and de
sirabe elimination of the weak element" Sixty
active railway shares Thursday reached the
highest point ever touched, averaging S102 56
but for the first time recently the final price of
the week was below the top, Saturday closing
with an average of S1O1 20, a net gain of 81
cents for the week. Industrials still occupy
position of minor Importance. All previous high
water marks of activity were far surpassed, and
1t is safe to say that unrecorded transactions
alone exceeded the normal business few years
ago. Many brokers were compelled to assist
their office forces long after midnight May dis
bursements of dividends will exceed So. 900 600
which must be Invested, even at prices yielding
small returns. Notwithstanding large purchases
of British bonds. less gold goes abroad than is
customary at this season, and the money in
circulation on May showed a small gain, TO
S2S 81. for each inhabitant.
Shipments of boots and shoes from Boston
have ceased to decline. and there appears a
good gain over the same week last year Local
jobbers are unable to secure russet shoes from
the shops fast enough to supply retail require
ments. Expected strength and activity have
appeared in the Chicago hide market, but
leather does not respond. Favorable weather
facilitates trading in spring lines of drygoods,
but the situation at first hands is by no means
satisfactory. More mills have closed. and even
after n second concession in print cloth prices
there is little demand. while manufacturers as
sert that there is loss in sales at present prices
of material and labor. Kindred lines of
cotton goods also declined. and only in the
coarse grades for export We're there steadiness
and activity. Silks are in rather better demand.
and large consgnments of raw silk arrived by
way OF Vancouver without depressing prices.
There is no improvement in the woolen goods
division, and wool now averages more than
five cents a pound below the price year ago.
causing much encouragement the ranches.
While powerful interests have been securing
control OF steel mills. and others establishing
n single railway system across the continent.
young man at Chicago has effectually cor
nered the corn market. Since the annual crop
of this country exceeds two billion bushels. this
appears herculean task. But owing to good
prices paid for hogs there has been unusually
heavy feeding TO stock the farms. and less
corn was forwarded TO Western markets. With
available supplies light. the current months
option forced up to IS cents. traders on the
short side losing heavily. After covering part
of their contracts the price declined sharply, but
is still at an abnormally high point. While less
spectacular, wheat also exhibited much strength
Grain may not come into sight freely on the old
crop. but unless exceptionally adverse conditions
prevail during the next two months there is
every reason to expect an abundant harvest this
season, although planting has been later than
usual. Cotton remains easy on account Of heavy
receipts and good weather reports. Foreign buy
ing has increased somewhat. but domestic
spindles are taking little.