The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-04-27
EASTERN FLOODS
CUT DOWN BUSINESS
Interfered With Railroad Opera
tons and Interrupted Distribu-
ton, Says Dun's Review.

New York, April 26.-R. G. Dun e. Co.'S
weekly review of trade Saturday will say:
Business continues brisk for the season
in the face of some drawbacks, which OF
times might cause marked hesitation. Chief
of these is the foods in many directions,
which have irterfercd with railroad opera
tons and interrupted the distribution Of
merchandise. and the weather all over the
East has been adverse to an increase of re-
tail trade.
Bank clearings. however. show that, while
speculation has been heavy, there must have
been a well-sustained volume of legitimate
business. for the gains are al per cent
over 1900 and 1873 over 1899 outside of New
York. ard 103 per cent over 1900 and 81 over
1899 at this city.
Railroad earnings make similarly encour-
aging gains. Reports from the interior show
special strength in conditions through Mis-
souri,, Kansas and Ohio. and the future is
full of promise, unless there Is misfortune
with the crops. Much urtavorable comment
has appeared regarding the advance in steel
rails to SIS. Yet the change Is only in keep
irg with recent increases in prices of rig
iron and billets. Nominal quotations for
many products Of ircn and steel have ting
been disresarded in contracts calling for
early delivery. and list prices are generally
moving up to 4 representative level. On rev
business or export orders it Is not .unreason-
able to make prices for rails on a parity
with other products of this industry. Aside
from this one operation there is no new de-
velopment.
Little Activity in Pig Iron.
Pig iron is more quiet, with little taken
for delivery beyond July 1. Domestic bust
ness in principal lines of manufactured
steel Is so active as to discourage foreign
buying, but machinery ard specially mills
are exporting freely. 1t is reported from
Pittsburg that mills arc not crowded By de-
mand to the extent noticed in 1893, but
productive capacity has Largely expended.
After prolonged pe.iod OF waiting for
definite crop news The cereal markets sud-
denly awoke to unusual activity. Aueh OF
the increased trading and sharp advance in
prices resulted from clever HAN puiation
by a single Western Spectator, wno com
PEELED the short contingent 10 cover May
season.
While there was an element of strength
in the reports of laie planting, slow move
ment of the Old crop held greater influence.
as stocks available for delivery were light.
Wheat has risen sharply. parity in SYM
patty with corn. but there was bod news
regarding the German crop. and sone dam
age occurred at the West.
Light Demand fer Wool.
Wool is fairly steady, ard this is the best
that can be SAID. Eastern markets are quiet,
with iisnt demand from the mills. There is
less disposition to secure raw material in
advance of nee6s. although much faith is
expressed regarding the stability of prices.
Reports from many correspondents in the
chief sheep-Taising States indicate that a
larger clip than last year may be eX-
pected and the condition is satisfactory.
Growers are slow Ia make contracts at the
present level Of prices, but the large per-
heavy stocks at the East give little encour-
agement to hope for higher prices until de-
msnd for manufactured goods shows mate
rial Improvement. Cotton responds slowly
to Indications of damage on plantations, for
the old crop comes into sight freely. and
heavy losses in British exports of goods and
yarns 90 not promise d vigorous foreign de-
maEd for raw material.
Decrease in Shoe Shipments.
Another decrease is reported in shipments
of boots and shoes from New England
shops. although there Is still a heavier
than in the same week last year.
Factories are less behind with orders, and
buyers are inclined to defer new contracts
in the hope of securing concessions. As
yet. however, quotations are unchanged.
Spring trade has been lost through !nclem-
ent weather and local tobhers no longer
expect an average seasons business. The
same influence has enabled retailers to re-
duce supplies of rubber footwear carried
over from last fall.
Leather is barely steady at last weeks
decline and stocks of light grades are ac-
cumuiating. Failures for the week num-
bered 2l5 in the United States. against 24
last year. and rs in Canada, against % last
year.