New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-03-10

point, despite the movement already secured
Moreover the Bank OF France made excep-
tionally good showing, contracting loans and
advancing gold holdings above S500O00OO0
which surpasses all records for any other in
stitution except the United States Treasury
which holds about per cent more Owing to
gold exports and some reduction in Treasury
notes outstanding. the per capita amount Of
money in circulation March 1 was reduced
II cents below the highest point of record
to $2S Go.
Dividend disbursements for March will make
the first quarter of 1902 a record breaker for
interest distribution. and the pressure of money
for investment has caused some buying Of for
egn shares and bonds. to which may be at
tributed in part the recent movement of gold
while the loss In exports and increase in imports
OF merchandise are supplementary factors. Mer-
camille payments have been notably prompt and
the measure of business by exchanges through
the principal clearing houses shows little altera-
ton compared with the figures of year ago.
which is the significant evidence of the
vigor of legitimate trade because the volume of
speculation has diminished about one-haf. The
other most accurate measure of trade. railway
earnings, also exhibits most gratifying figures
especially If proper allowance be made for the
freight interruption caused by storms in many
sections.
Retail business has kept up wonderfully, CON
siderng the cratic weather. which started
spring distribution only to hold up merchandise
en- route by snow blockades. Owners Of large
supplies of goods are unable to trace them
owing to the traffic disarrangement. Some dis
turbance at the South is chronicled, and stocks
in the hands of dealers in that section not
so generally depleted in other parts Of the
country. Reports from the West and the Pacific
Slope are exceptionally encouraging. and the
final settlement of the long drawn out strike of
iron workers will put much more money in cir
culation, will the large syndicate operations
Weather conditions make the California crop
outlook very encouraging. In rubber boots and
similar lines sales at the East have reached
unequalled figures
In the cereal markets prices held up very
firmly, although the advancing season has thus
far brought only bright prospects for the coming
yield, The strength is due 10 slower movement
of the old crop and vigorous domestic consump-
ton. while exports also show signs OF an in
crease. The last weeks showing in this respect
is especially good. Cotton has made the longest
stride of the season in the direction of higher
prices, and 1t is frequently reported in the trade
that demands for the rest OF the crop year will
readily absorb all offerings That the cash price
should be easily held above nine cents and
above the quotation year ago in the face OF
threatening strikes at Fall River mills is evil
dence that there is little expectation that the
remainder of the crop year will bring a large
quantity into sight. The other leading staples
have been we'll sustained without wide luctua-
lions.
Textile mills are generally well occupied. ex-
cept where floods have incapacitated machinery.
There IS brisk bidding for cotton goods. but
holders are slow to accept offers owing to the
uncertainty regarding production and also the
fear that still higher prices may be asked for
new supplies OF material. Export grades
OF brown cottons could be freely sold If offers
We're accepted, as there is much business in
sight Until the supplementary demand ap-
pears there Will be little new business in
woollen goods, while mills are we'll engaged on
old contracts. The footwear situation is very
similar, buyers being slow to place contracts
at present prices. In so far demand is
cerned. the iron and steel industry Is still far
in the van. yet the inadequacy OF supplies for
prompt delivery is causing much inconvenience,
and there is no immediate prospect OF improve
ment in this respect 1t is not difficult to
secure fun quotations. the general price level
tending upward. Coke is in urgent request and
the consumption OF coal is surprising expecta-
lions.