The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1902-05-31
DUN'S WEEKLY
TRADE REVIEW
Encouraging Factors Outweigh
All Disturbing Elements
FAVORABLE CROP REPORTS
Efforts to Place Contracts for 100000
Tons of Pig Iron Indicate the
Confidence Felt In This
Industry.
FAVORABLE CROP REPORTS

New York, May 80.-R. G. Dun & Co s
weekly review of trade tomorrow will
say:
Ease in the money market. 1aVoraole
crop reports and confidence abroad, are
the encouraging factors which outweigh
the disturbing element of labor CONNECTS,
and unreasonable weather for retail traoe
at many points. Effects of the depressing
influences are less keenly felt because
they are believed to be only temporary
and confidence is expressed that with inc
RESUMPTION of work and normal temper
ature. there will be return to the nberai
distrfbution of merchandise. Despite the
short corn crop last year, the large Yield
of wheat and high prices for both result
ed in the greatest value for the two crops
ever recorded, which means that the agri-
cultural sections are prosperous and other
industries must share the good fortune by
increased sales of products. Collections
are prompt as a rule and payments
through the principal clearing houses are
well maintained. Notwithstanding dimin-
ished speculation. there was an increase
of Ia per cent at New York compared
with last years exchanges Returns as
to. transportation show that losses IN
grain movement are being more than
made up elsewhere, the railway earnings
thus far reported for May showing gain
of 6.5 per cent over last year and 1870
per cent over 1900.
Efforts to place contracts for 1OO,OOO
tons of pig iron. deliverable in the second
quarter of 1903, indicate the confidence of
the leading consumer as to the future of
this industry. There is no cessation or ac-
tivity at the mills and finished products
are forwarded to importunate consumers
as rapidly as possible.
No Improvement Is reported at New
England boot and shoe centers, where the
shops are still running only about haiI
time. There is little more activity In
the grades that declined last week put
no indication of recovery in prices, and
other varieties tend downward. Sales
men are booking a smaller percentage or
orders at the South than is usual at this
season. Local retail trade has been more
active but jobbing business continues
slow Recent advances in leather are
maintained, with betting butts freely
purchased. Imported hides are scarce
and strong, but domestic packer hides are
more quiet. Stocks of textile fabrics are
not accommodating, although the markets
are extremely quiet The domestic job
bling trade is fairly satisfactory. but ex-
ports of cotton goods are small. Print
cloths are dull and unchanged with the
situation unsettled as to new prints for
the fall. Clothing manufacturers are pur-
chasing wooden goods in moderation only
and large deliveries by the leading COM
panies increase the disposition toward
conservatism.
Prospects are bright for large yield
of cotton. Dispatches have been received
from correspondents of R. G. Dun & Co.
located in all parts of the cotton belt and
the returns are unanimously encouraging.
Grain quotations made a decided adj
vance early in the week which was not
easily explained except on the basis of
light supplies in sight. This element was
not new, however, receipts having de-
creased very materially for many weeks
In comparison with last years movement
Subsequently the gain was lost in option
trading, although cash corn was firmly
held.
Failures for the week numbered 1914 In
the United States, against 14S last year,
ard 20 in Canada, against 81 a year ago.