The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1901-11-19

WEE Shortage In corn-stsiped Lset
OF Transportation Facilities

Some.
New York, Nov. 16.--R. q. Dun q
Co.'s Weekly Review Of Trade, issued
today, said in part:
A few months ago injury to the corn
crop aroused fears that the railroads
would be seriously handicapped by
the loss Of tonnage, yet the season
of grain trafiic has not only failed to
produce decreased earnings, but
there is such scarcity Of rolling
stock and motive power that numer-
GUS industries are badly demoralized.
Insofar as these interests are con-
cerned, the reduction in corn freight
proves blessing. Railway earnings
In October were 11.3 per cent greater
than last year and 2i.i per cent over
1899, while those roads reporting for
the first week of November show an
average gain Of 9.S per cent A
healthy demand Is reported through
out the country, in all leading lines of
merchandise. while sales OF winter
goods have attained normal proper.
tions and holiday business promises
to surpass all records. In rnanufac-
turing there. was never before such
well sustained activity, with contracts
running past the middle of next year.
This is especially true in the case Of
steel rails and many Other products
Of iron, while in building material,
felt. footwear and most textile
branches there ds little prospect OF
tdleness. Money circulates freely,
making collections satisfactory In
most sections. Bank exchanges In
New York for the week were S.3 DER
cent larger than q year ago and 23.1
per cent over 1899, while at other
leading cities the gains were 10.2 and
9.2 respectively.
Unprecedented conditions in the
iron and steel industry are shown by
the statistics of pig iron on Nov. l, as
published by The Iron Age. Furnaces
in blast were producing at the rate Of
320,824 tons weekly, which far sur
passes all previous records. With u
productionj Of 10000 tons weekly
above the previous top point 1t might
be expected that supplies would In
crease, or at least remain stationary.
On the contrary, furnace stocks on
Nov. were 273,251 tons, or much
less than q single weeks output, and
decrease OF 8S,S42 for the month OF
October. Carrying the comparison
back q year gives an idea Of the mar.
velous strides made In this industry.
Since November, 1900, the weekly ca.
pacity Of furnaces in blast has In.
I creased from 215,304 tons to 320,S24,
while furnace stocks have declined
from 641,466 to 273,251 tons. Yet
there has been no imitation OF prices
and the speculative element is en-
/ tirely lacking, a sign that no disas
trous collapse Is to be feared.
An ofiicial report Of the lowest aver
age yield OF corn per aero was calcu
lated to strengthen prices, but the phe
nomenal quotations already prevail
ing would seem to fully discount gov,
ernmept figures. Foreign buyers have
been Given out Of these markets, the
week'4 exports from Atlantic coast
amounting only to 5S5,944 bushels
against 3,72S,066 q year ago. and
3.750,711 in 1889. Wheat-rose to tho
best prices OF the crop year, partly
In sympathy with corn, for which Il
Is still freely substituted.
Failures for the week numbered zig
In the United States, against PIT last
year, and "a in Canada, against 3S las,
year.