The Washington times., 1902-09-06
STEADY PROGRESS in
TRADE and INDUSTRY
Dun's Weekly Review of
Trade an Encouraging One.
Farm Products Appreciate in Value
Producers Compensated for De-
crease in Quantity.


NEW YORK, Sept. 5.-Dun's weekly
Review OF Trade tomorrow will say:
Steady progress is reported in trade
and industry. Distribution of merchan-
disc is heavy and a healthy tone is evil
dent. Prices are we'll maintained by
liberal consumption, which more than
neutralizcs he effect of enlarged facili-
ties for production. Domestic conditions
continue much better than these exist
ing abroad, and home trade receives
more attention than foreign commerce.
Farm products have appreciated in
value owing to less favorable weather.
and producers will be fully compensated
for any decrease in quantity by the high
er quotations. Wall Street provided the
most striking event Of the week. sales
of securities exceeding ell recent rec
ords, while the average on quotation for
the sixty mcst active railway stocks at
tained a new higl-water mark.
The violent rise in prices was espe-
cially remarkable. in view Of the fact
that light money was imminent, and a
coal road led the advance. despite four
months of idleness at the mines.
Earnings of railways during August
were g.; per cent larger than a year
ago and 1873 per cent in excess OF 1900.
To speculation must again be attributed
much of the increase In bank exchanges
at this city, which were 32.1 per cent
larger than in 1901 and All greater than
in 1899 At other leading cities there
were gains of is and 1873 per cent, re-
spectively.
Better Deliveries.
Better deliveries of coke and liberal
receipts OF foreign material have less
ened the pressure in the iron and steel
less congested, while quotations in few
lines have weakened. Domestic demands
are not decreasing, much new business
having been placed, and home consump-
tion will continue to call for imports on
large scale.
Quotations OF footwear are fully main
taiaed at the recent advance. Leather
sells freely at the recent advance in
quotations, but hides appear to have
risen above the views of tanners, re-
sulting in quiet market.
Agricultural conditions are less sat
isfactory. and ii the official estimate
as to cotton is not exaggerated, the
yield will not be large enough to sus
tain consumption at the present rate.
Sharp advances in quotations Will
quickly curtail spinning, however, es-
pecially in foreign mills, which will
adjust the relations of demand and sup
ply.
On the other hand. there is yet time
for improvement on Southern planta-
tions. and better results may be secur
ed from the second picking. Wheat is
coming forward freely, though receipts
do not equal the abnor .nally heavy
a year ago, 6.070,542 bushels,
with 7,445.92S a year ago.
Corn developed strength because of
fears that injury would be done by
frost. and the movement is very slow
with last years figures.
Utterly regardless OF the reaction that
might follow a stringent money market
stocks were forced violently upward
early in the week.
Liquidation and profit taking caused
some reaction. but a strong undertone
was constantly in evidence.
Commercial failures during the month
Of August numbered $40. involving $S,-
sos. .525 in amount of defaulted labli-
les, compared with S03 last year, FOR
50, 49S, S66.