New Ulm review., 1901-04-10
HOLDS IT'S OWN.
General Trade Maintains an Even
Course-FaiIures for First
2narter of 1901

New York. ApriE S-Dun,s Weekly Re-
view of Trade says: While the general
business world has looked with amaze
ment at the performance of the stock
market, trade has maintained its even
course. and there are many more points
OF gain than of loss. with even a slightly
steadier tone in the dry goods market.
Iners some sellers have withdrawn offers
at recent low prices. though buying is
small as yet. Collections in all lines are
unusually prompt. and in the building
trades contracts have been entered into
snfhcient to furnish 4 decided impetus in
allied lines during the spring season. No
ssign OF lessening demand is perceptible
N any branch of the iron and steel in
daStry. Mills are accepting contracts for
the closing months OF the year, and there
IS every indication that 1901 will surpass
All records in the quantity of pig iron
consumed by manufacturers. Though ca
pac1ty has been wonderfully enlarged
curing the past five months. there are
sun many extensions and new plants
contemplated. 1t is also, probable that
the customary summer repairs of fur
naces and mills will be accomplished
within a shorter period than usual as
contracts call for heavy deliveries right
through the season. Permanence of
prosperity in this Industry is becoming
more certain as there is less evidence OF
inflated prices.
prices to an unreasonable point. from
which the fall was severe. and wheat
also weakened. although exports from the
Atlantic coast continued liberal Pork
products did not show the usual SYM
pathy with corn when it reacted, for Chi
caSo operators absorbed offerings readily.
commercial failures in the first quar-
Ter OF 1901 We're 1885 in number and S3l-
ioo, $50 IN amount of defaulted liabilities
ol Wnich ilo were in manufacturing, for
l2,5042 ~. and s,46S in trading, for s14-
oo-,Soo with lat others. not properly in
ciuued IN either class, that owed $685.
800. Banking defaults numbered 2l, with
liabilities of s., AL, ,3S9. While exceeding
the same three months of last year in
number. failures were much smaller in
amount; commercial and financial in
solvencies together showing a decrease
OF i,o52, lse. Only two years of the last
70 made better showing either In aggre-
gate or average Indebtedness to each rail-
ure; while the proportion of S2674 TO
each firm m business, and $1.09 to each
$1,000 Of solvent payments through clear
ing houses are records that were sur
passed but once in two decades. For the
month of March, total liabilities were
much smaller than in the corresponding
month of any year since monthly state
ments We're first published. These fig
ures indicate most undeniably that the
new century has opened with business
on no uncertain foundation,
Bra 1streets says: Speculative actiy-
lty, seeking expression in the markets for
securities, cereals. raw cotton and some
hog products. has rather tended to OBJ
scure interest in general dstributiye
trade, which has, however. been tempo-
rarily disturbed in retail lines at least
by widespread unfavorable weather con-
dltions. While the general tendency Of
this speculation has been bullish a
marked exception was that furnished by
bearish movements in wheat and corn
which have lowered the level of these
products for the time being. The gener-
al consensus is that retail Easter trade
has been to some extent curtaled by
rains in the cities and by bad roads in
the country districts, but as above noted,
these are really only temporary phases.
and the general outlook. alike as to
crops and as to spring trade as a whole
is In a high degree encouraging
Weather conditions, except in the
northwest. have been rather unfaporable
to planting and ground preparation This
is particularly true in the south, where
cotton planting is retarded Heavy fer
tiliZer shipments point to a large increase
in acreage in the south Atlantic states
On the other hand. heavy SHOWS in Kan
sas and Nebraska. and no less heavy
rains in the central west, have benefited
winter wheat prospects. which in Kansas
Nebraska and Missouri are reported ex-
cellent. Ohfo's wheat condition shows
marked Improvement over last year. In
California weather conditions have not
been favorable, and deciduous fruits
have been hurt by frosts.