The sun., 1901-04-20
lHE STATE OF TRADE.
Comment by buns Review on the
Business Of the Week.
COTTON RETAINS ITS GAIN.
I'm the Metal World Conditions OF
supply ana Demand Are SLIM
liar to These Existing
For some Months.

New York, April 19.-R. G. Dun 4
Co.'S weekly review of trade says:
Favorable crop reports, heavy bank
clearings. record breaking railroad earn
ings. a large distribution of spring ana
summer goods and easy collections give
the business situation an encouraging
ASPECT. Wall street speculation does
not yet discount any approaching reac-
tion in commercial lines, and the money
market seems to have turned the cor
ner, at least for the present. Cotton
and WOODEN goods retain their gain OF
last week, though partly on account OF
the idleness of many mills. The wool
market is steady Notwithstanding the
absence of demand from large produc-
ers of goods.
Aside from the uneasiness caused by
labor controversies, no setback has ap-
peared in the leading industry. Condl-
tions of supply and demand are sim
liar to those existing for the past rev
months. In some lines purchasers are
increasingly lnportunate. while Ill oth-
ers there is slightly less urgency Ior
prompt shipment. but in all branches
of iron and steel manufacture require
ments are much in excess of available
stocks. Recent evidence of large grain
crops has brought agricultural imple-
ment makers into the market for bars,
and many have contracted for their
entire years supply. Another feature
was the greater activity in structural
material for bridges and buildings,
while the large tonnage of steel rails
already placed did not prevent further
| orders The recent advance in plates
failed to diminish business.
The Cotton Outlook.
The outlook for this years crop OF
| cotton has been ascertained by care
| ful canvass Of the southern states
Correspondents report that planting av
eragps about two weeks later thai
usual. owing TO heavy rains. Whil'
there is reason 10 anticipate a larg
acreage. cancellation of many order
for fertilizers shows that the sharl
decline in cotton prices had the bene
fetal result of restricting operation
to some extent. Planters have encOuI
tered some difficulty in securing suff
eient labor. owing to the great deman
III other industries. and it Is eXpecte
that the cost of planting and pickin
, The current crop will be greater tina
usual on this account. Georgia mill
! are running full time, while in otht
southern states there is much redu'
! tion.
Stock speculation was again of lars
volume, but the market was often raj
god. and specialties monopolized
great share of the attention of trader
! The projected union Of several of Il
] large copper mining companies resul
! ed in an active speculation in TIL
: group. and this was sufficient to offs
l as il general speculative factor Il
4 liurlitlation in shares of the steel col
:, panies resulting from rumors of
/ strike in the event of n0nrecognitit
i of the labor union. The practical COZ
plction Of the Burlington deal wi
other railroads was responsible I
sharp advances in some of the grang
l. stocks.
) Failures for the week numbered
" in the United States against 1S4 Ia
L year and 2l in Canada against II j;
7. year.