Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1902-01-02
THE YEARS TRADE.
Dun's Review will cay on January

made In manufacturing. 1t liz inEoHsi-
BILE to be too extravaganza in deineat-
ing the movements OF the industrial
world. Never in the history of this or
any other nation has such development
occurred within the space of twelve
month. The expansion OF productive
capacity was enormous, the improved
methods OF work and organization were
conspicuous, " SO economies were intro
duced, hut more than al Other factors
that made for permanent prosperity
was the conservative resistance TO price
imitation.
after the reaction Of 1900 the level
Ct prices remained depressed for some
months, but gradually responded to the
increasing demand as excessive accumu-
latons were absorbed. From q con
dit'on of glut there arose almost
famine greatly exaggerated by tho
stubborn strike. Some idea Of the
changes in size OF supplies may be
found in the comparison OF furnace
stocks of pig iron, as published in the
Iron Age which amounted TO 54S, 6G3
tons on January lst These figures
steHdily declined throughout the year
until only S23, tons wero held on
December 1st
aside from the slight fall during
the period affected by the strike, the
appears almost steady gam In Fro.
duction, closing with the maximum
quantity on record While the outuut
on December was at the unparalleled
rate OF l0,SST, 572 tons yearly, IL is
obvious that the actual production for
the year was much smaller although
quite sufficient 10 establish new
record, and Judging by the amount of
bus ness already placed for 1902, the
current years vie d may not unrt asona
bly, be expected to SUR ASS 1900, 600
tons. Output CT rails was beyond all
records, yet cent acts for 1902 already
assure another high water mark of
probably 2,W0,00O tors
"Readj ustment Of quotations was
secured. during December alter year
OF unrensonably inflated prices Copper
was unborniy held at II CENTS most oil
the time, but when the reaction began
there was a fall Of our cents within
lew days Tin was advanced 2SaI In
June, hut fell to - cents in December.
Similarly with lead the nominal prios
OF 4as was out to 4 ornis, Tin plates
closed the year where they opened bat
in the interim there was an advance to
81 on account Of the famine that fol-
lowed the strike.
IAN records Of output for hard and
soft coal were surpassed during 1901,
despite the scarcity of cars that retarded
operations. A feature OF great advantage
was the expanding export movement,
which reached more encouraging pro-
port ons than In earlier wears. In 10
monthstbe value of shipments was slo,-
0S7353, against SIT, SEA the year
previous. Coke ovens made phenome.
nal record, establishing a new high
water mark OF weekly output at 24I, 529
tons late in November
An entire year Of activity, and an
era of high prices characterized the
leather market, yet there has been no
boom such as existHd during 1895, and
which resulted in ono OF the most dis
astrous slumns ever known in leather
history. The rise in values was steady
and by easy stages and entirely leRiti.
mate, inasmuch as ii was based on the
laws of supply and demand.
urth3r decl mes occurred Ia the
pr oe of this staple during the opening
months OF 1901. and the bottom was not
reached until July LIST, when 100 grades,
according to Coates Bros. circular,
we're quoted at ll.06 cents. Ibis req
resented loss OF 81 rar cent from the
high point of "A. 10 in December, 1899.
With the absorption OF surplus stocks
and general revival IN the industry the
turning point was reached in SeEtem-
Der. Further strength and activity was
in evidence each succeadir month.
While 1900 was the best year ever
experienced by domestic agricultural
interests. the opening year of the new
century was in many wa more protitn.
BILE, aud the twn together have put the
farming population in much the most
satisfactory POSITION in the nations
history. Formerly the season OF harvest.
ing and crop moving brought heavy
borrowing of funds at the Last, but in
iorior conditions have changed to such
an extent that Western banks are lenders
at New York and Chicago, ami, while
there is still large movement OF money
away from the East during the iail
months, it ia OF funds that we're held
here Tor the account Of interior CORE
spondents. There is steady tenuency
to enlarge the acreage sown in the lead
Jog crois yet supplies do not increase,
ow ng to the better demaud b Ith for
home consumption and export.
Meats naturally reflected the ex-
l.
giatisSi ing to not ce that exports were
not materially reduced by the bipb
level. Cotton passad a season of wide
variations, in the early months attain
ing the h CHEST price of the decade, but
fall ng back sharply as the spiun ny
8 tuat on WIS rendered un ayorab!e by
exorbirant raw m tier oil. Crop estimates
were SO far apart, causing irregu iarity
and tendency to await more definite
information. The outlook grew muoh
more cheerful from the producers point
OF view when the closing month brought
higher price than cents. Equally
cratic was the course of coffee, on &C
count OF heavy Brazil receipts and re-
ports OF exttrsive sHsters. Option
trading at the coffee Exchange rose far
abnve the quiet conditions of recent
year. Expanding crops Of sugar had the
elect OF lowering prices, while compe-
tillon OF ret1ners caused a still larger
fall in the finished product, to the great
beueht of consumers. Petroleum was
less tiuctualing, the extremes of the
year being 80 and Z. III cents for re-
fined in barrel cargoes. Extensive fields
in the South were devsloued, which
tended to hold prices down.
Experts of the staple products
reachel new high record, notwith.
standing the lower average prices of oil
and cotton, and the scarcity of corn.
he crop year opened with new reoprd
OF wheat and -four exports, Amounting to
"a, 10, $50 bushels nAugust far surpsss-
ing airy previous month, while for five
months ending November 30th the
aggregate was l26, 925, 1G2 bushels.
In the ear OF big things it was
natural that new high records should
ne recorded IN deposits and loans.
EiuaDc tup Of hio q ndirata n ara to-,