The Savannah morning news., 1902-04-05
COTTON is FIRMLY HELD.
Dun 4 CO.'S REPORTS SHOW THE
REASON WHY.

Small Stocks of Old Cotton with De-
creased Acreage for the Next Crop,
Smaller Sales of Fertilizers and N
backward Season-rextiIe Pro-
duets show Firmer Tone, Due to
Labor Troubles and High Price of
COttOn-LabOr Troubles Now the
Disturbing Feature of Industrial
Situation.
New York. April Ar. G.. Dun G
Co.'s Weekly Review tomorrow will
say:
Labor controversies continue to be
the only seriously disturbing events
in the industrial world, and, while
many disagreements have been
promptly settled, others have appeared
to interrupt production and make man.
ufacturers conservative about new un-
dertakings. Retail distribution of
spring wearing apparel received a
check from the more inclement wealth
er in many localities, yet merchan-
disc of most staple lines is purchased
freely, and collections are satisfactory
at nearly all points except the South.
Supplies of iron and steel do not
seem in any immediate danger of over
taking demand In fact, the prospect
of labor disturbance on May / makes
the situation still more uncertain, and
those who hoped for equilibrium in
the market by July / are less san
guine. Midsummer seems to be the
dividing line as to quotations, prices
after July l averaging about 81 per ton
less than earlier deliveries, while
those few fortunate sellers of spot ma
terial continue to secure large premi-
ums. Pittsburg pig iron is definitely
higher and large contracts are still UNI
der negotiation between the Bessemer
producers and the leading consumers.
Coke continues to move a little more
freely, yet prices are fully sustained.
In the markets for textile products
there is distinctly firm tone. Labor
troubles and the high position of raw
cotton are both factors of strength.
while mills have orders that will oc-
cupy their full capacity for some time.
Although quotations are nominally
without change, the scarcity of avail
able supplies makes 1t a simple mat
ter to hold prices. Export inquiry for
sheetings and drills has increased. but
makers insist on higher prices than
are offered in many cases 1t is be-
tween seasons for wooden goods. and
there is the usual quiet, except where
buyers are anxiously looking for goods
to replace deliveries interrupted by the
strike at Olneyville and vicinity. No
Improvement is recorded in conditions
at footwear shops in New England
where only the larger manufacturers
are able 10 keep going Prices Of
shoes are unchanged although buyers
are holding back for better terms.
Widely divergent views as to the eron
outlook resulted in a dull market for
the cereals, and only small changes in
prices.
1t is not surprising that cotton is
so firmly held in view of the dis
patches from correspondents of r. @.
Dun u Co, in the South. These re-
ports Indicate small stocks of old cot
ton and a decrease of acreage for the
next crop, with smaller sales Of fertiI-
izers and backward season.
The course of commodity prices dur
ing the month of March indicates a
seasonable tendency downward. Dun's
index number, giving the aggregate of
quotations proportioned to consunlp-
ton, was 1922, on April 1, against 1Oi.-
593 month previous. This decline of
23 per cent. was mainly due to the
higher temperature which accelerated
the output of garden and dairy pro-
ducts.
Failures in the United States this
week 1877, against 1876 last year, and %
in Canada, against 20 last year.