The sun., 1901-11-02
CONDITION OF TRADE
Car Famine the Only Retarding
Influence.
LARGE RAILWAY EARNINGS
over Seven Per Cent More Than Last
Year Staple Market Irregular.
Heavy Export of Gold shows
Large Foreign Loans.

Co.'S weekly review of trade says:
Although the latest railway returns
Indicate that transporting facilities
have greatly improved, the nations
business has expanded more rapidly.
Car shortage has, in fact, become the
chief retarding influence. From all
sections of the country and many diff
ferent lines of industry complaints are
heard regarding the inability to move |
goods. Probably the delay has been
most aggruvating i'll the case of coal,
high temperature alone |
preventing serious Inconvenience. Not
only are domestic requirements enor-
nous, but coal is becoming an impor-
tant article of export. partly owing to
!ahor controversies in France and
Great Britain and also to the British
Export tax. Notwithstanding the loss
# much freight movement through In
adequate rolling stock, railway earn
ings for the month We're 7.2 per cent
5larger than last year and 16.9 per cont
,Ner 1889. Mild weather affects retail
distribution to very marked degree,
orders for heavy weight goods being
Cancelled in some cases where manu-
facturers were behind with deliveries.
That the volume of legitimate business
Is not being curtailed, however, is evi.
,lrnced by the gain in bank exchanges
It New York of 2T.4 per cent over last
year and 10 per cent over the same
week in 1880. At other leading cities
he increase is equally striking ~ POI
per cent over 1900 and 80 over 1899.
Loans To Foreign Nations.
| Formerly exports of gold were the
| signal for anxiety in domestic money
markets and depression in prices of
securities. Movement of coin or bul-
ion out of the country indicated that
'oreign creditors were insisting on cash
( y settlement of adverse trade balances.
Now similar exports are regarded with
,0uanimity and even qualification
tnce they mean that money is being
.uaned to less fortunate nations. 1t is
lie season of heavy shipments OF
S.cat and cotton. 50 that there is nC
fear of unfavorablc balances on mer
handiSe account. hut purchases oi
British consols ANA other intcrnationa
financial operations show this countr.
III ii new light. Rates for both call an,
time money are somewhat tirmer. 10
nestle business activity. crop movini
And demands from abroad all combine
10 give banks Il profitable interest ol
loanaIlc funds. Yet there Is no sigl
If Stl'ingencN. as indicated by tn
,tpadiuCSS of the stock market, whicI
would quickly reflect any tendency t
restrict accommodations.
Irregular Market For staples.
Irregularity prevailed in the market
for staples. Spectators secured n dis
tlnrt decline from the unusually hig
position recently attained by pork proc
ucts while nj the same time corn mad
/ further advance. Poor huSking +,
| ports We're held responsible for the ris
!, III tile cereal and there was n natur;
a falling off in exports. shipments frol
!. Atlantic ports for the week We're onl
, 4nS,i95 bushels, against 1,l94,0n9 la
! week and 3.32S,tI3l Il year ago. II
terror receipts We're also light. l.
bushels. against > S3S. .U20 last year,
Wheat came to market more frcel
!. arrivals ut western cities amounting
. T,OGO.190 bushels against i.lS2.,}93
!. the previous week and 5,'Ii3l .602 Il We
i. ago. Atlantic exports We're less sat
i factory than last week; but, includii
Ill United States pores, the weeks shi
!. mrntS were 5.olS, l03 bushels again
|, $3.50. sd hast year antl 3,.GS,.l9S in Is.
Il ! further fall put cotton 50 Il bale 10
\. or than II was tWa els AGO. ana p,
d receipts arc very ay despite rtpol
I. That many plnnt.,s are holding
10 more profitable plcrs.
"a, Faiirrcs For DrtnISer.
ID Although liabilities of commercial fl
$ ureS in October were Sln.fiSU,G1T agail
Sa0T2,T9l last year. tie return is hy
means aa mfavmahle as the simple ;
Erpgdte would srcnl 20 indicate. \ Fl
!, large failures, many due TO speculate,
:, account for over half the total lab
\. Ties. but had little influence on leg
VI mate trade. DrduCtmg these eXceptit
!. al disasters, the average ndebtedn,
NJ. to each insolvency WAS hut S5.9S4,
q lower proportion than in the cor
" spending month Of amy year since t
/, instructive comparison was cummcnc
i, classification by branches of husin
VI. shows that next To HE increase throu
Il, speculative operations in grain. nlea
. hides. coffee ana stocks. losses "
u. heaviest in II few manufacturing lin
\, ParadoXical as it may seem. many
these defaults We're directly due 10
remarkable activity of business.
mandS surprising productive capac
~ TO such an extent that contracts 90
III not lie filed and operations We're
M thrr abandoned or finished at
Id owing TO the premiums paid for prul
". delivery. Defaults of traders W
a. smaller thaa last year, whirh is e>
w cially encouraging, rs tile drought,
n, steel strike and the late cotton 4
NJ. We're all calculated 10 affect collects
N Of country storckeepers.
~. Banking liabilities in October W
.nr unusually light, amounting to only 5
FL. I'll against S55n,HOO year ago
re-
onrneGie's Latest Honor.
London Nov 1.-Andrcw Carne
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