The sun., 1901-12-14
HOLIDAY TRADE GOOD.
Comment by Dun's Review on the
Business Of the Week.
STEEL MILLS STILL BUSY.
Firmness the Feature of the Textile
Market - Great Activity Noted
In Cereals-The Failures
of the Week.

New York, Dec. 13.-R. q. Dun IL
Co.'S weekly review of trade says:
1t is most fortunate that the vagaries
of speculation are not always deleteri-
Gus to legitimate business. Railway
stocks fell sharply, yet full returns for
November show that earnings We're
11.5 per cent greater than in the same
month last year and 1871 per cent over
those of 1889 Industrial and traction
shares We're even more violently dis
turbed, yet the manufacturing plants
of the nation We're never more fully oc-
cupied. Numerous labor controversies
have been settled. and the rate of
wages is at the highest point ever at
tained. Retail distribution is of mas
sive proportions, with dealings in holi-
day goods the conspicuous feature.
Conditions in the leading industry
are still more strikingly promising. De
spite the full engagement of most steel
mills well into next year, the week has
brought large amount of new bust
ness, particularly in railway equip
ment Stability of prices continues the
best feature, imitation being wisely pre-
vented by controlling interests. Ore
quotations have been fixed for the new
year on the old basis of S4.25 ut lower
lake ports, while beam and plate asso-
Citations renewed the expiring arrange
ment.
Reports from the great iron centers
during the closing week of November
dwelt on the scarcity of cars and mo
tive power. implying that furnaces
could not secure coke and We're going
out OF blast, while pig iron could not
be moved from the yards to the mills;
hence it was generally expected that
the output would show material de-
crease. while furnace stocks of iron
were thought to be somewhat aug
mented. Instead The Iron Age has is.
sued a most encouraging report.
The Textile Industries.
Raw material in the textile industries
has developed distinct til1nness Cot
ton not only retained the spasmodiC
gain that followed the government re
port, but made a further advance. ant
indications of continued strength at
tracted liberal purchases by Spinners
The goods market Is quiet with no III
gency to force sales and prices o
some lines are higher. Wool Is readil.
taken at unchanged figures. Raw ma
terials in the footwear industry ad
yanced still further, while the pOoro
quality Of hides at this season make
the actual difference greater than tn
mere alteration of a fraction woul
indicate.
Western grain producers aud dealer
have expressed great faith in the II
ture of prices many announcing the
intention to hold supplies until Sprin
when the scarcity would be markt
and quotations reach more profitab
point Speculative operators. as usui
anticipated this tendency of lcgitima
business and inaugurated Il vigoro'
campaign The upward movement
option prices eliminated on. Mond;
when May deliveries at this city col
manded SS7S cents. Profit taking "
enormous. and when the advance Seei
ed checked there appeared the ust
shifting to the short side. Exports
wheat, including -four, from all ports
the United States We're S,i63,6ll bus
els during the last two weeks agaiI
7,517,2O last year and T,362,279 t.
years ago. Corn at 49, cents was
new high point for nearly decade,
ceedlns the price year ago by 60 !
cent and approaching close 10 the q
tation commanded by wheat last yc
when the yield was short Natura
exports are Insignificant, from Allan
ports for two weeks amounting to
5S6OlS bushels against 10, 499,;l51 !
year.
Failures for the week numbered
in the United States against 240
year aud Il in Canada against 26
year.