The times., 1901-04-13
DUN'S REVIEW OF TRADE.
Better Business Conditions shown,
Even Textiles Improving.

NEW YORK, April 12.-Dun's review
tomorrow win say:
"The tone of general business has been
better this week. Marked activity in the
distribution of merchandise is reflected
I'm the gains of 459 per cent in bank clear
ngs at New York. compared with 1900,
and 20S per cent over 1899, with gains OF
1875 and 1913 for the same periods at lead
ing cities outside New York. Even the
textile markets show pronounced gain
Activity in the metals division has
taken pig iron production to near record
figures, and some dealers do not see how
production of partly finished forms this
year is to be made to meet the demand.
The Government report OF the condition
of wheat on April 1 is the surest possi
BILE basis upon which expectation of con-
tinued commercial prosperity could be
founded
"Stringency of money is largely local
in New York. and does not alter reports
from most of the larger cities of favora-
BILE conditions in collections. Railroad
earnings in March were IA per cent larger
than last year, and 32.4 per cent over
1899, according to practically complete re-
turns
pig iron production on April 1, ac-
cording to the Iron Age was at the rate
of 296.676 tons weekly. This quantity has
been exceeded twice in the history of the
industry; on December !, 1899. when 2ee,
$50 tons were produced and in February,
1900, when the output was 8,G14 tons.
The remarkable feature of the situation
is the decrease OF 60 55s tons in furnace
stocks during March in the face of this
enormous production, while in six months
the loss in supply has amounted to 20s,656
tons.
Mills are evidently taking material
freely. as at the earlier dates when the
yield of pig was at the present high rate
there was accumulation at furnaces.
Quotations are generally steady for all
forms, except plates, on which - ton
more is demanded without restricting
purchases. Contracts for delivery of pig
iron do not, as rule, extend beyond the
end of this month, and furnace stocks
cannot be expected to continue decreas-
ing, unless new business comes forward.
for many furnaces have gone into blast
since the month opened, and production
on May l will probably be at new high
record
Manufacturers have taken two large
export orders for rails and structural ma
terial, despite the active domestic busi-
ness BesSemer ore prices were fixed at
a reduction Of s1.25 from last years list,
which was surprising in view OF the great
advance of the finished products
Speculation has been unusually heavy
in foodstuffs. the local markets averaging
more than two million bushels of wheat
daily. Prices receded sharply from the
top point of two weeks ago, wheat losing
about 4 cents for spot
Textile fabrics are IN better position,
although Improvement is slight and con-
fined to a few special lines. At Eastern
wool markets, manufacturers have taken
sufficient new material of late to indicate
better orders for goods and news from
the West suggests that ranch owners are
going to hold for better prices than now
prevail.
I'm the cotton goods division there has |
been more buying for China. while spring |
dry goods openings make encourag ging |
exhibits The raw material lost most of |
last weeks gain. spectators making no |
resistance to the weakening influence of /
larger receipts and lighter exports than |
year ago. Besides the international cur |
tailment of spinning, there has been fur |
ther reduction of operations by spring /
floods. In silk goods more activity Is re- |
ported and another trifiing advance oo- |
CURED in raw material
The money market ruled stronger all |
the week.
Liabilities of failures in the first week |
OF April were 81 3D., 1884, OF which S457. .531 |
occurred in manufacturing 1857 052 in trad
ing, and Sl9S, 15l in other commercial lines
year ago the amount of defaults was
s.. .292. 235.
Failures for the week numbered 203 |
in the United States against 1893 last year,
and "A in Canada against IL last year"