West Virginia daily oil review. [volume] (Sistersville, W. Va.) 1894-1902, 1902-05-10
CURTAILMENT OF PRODUCTION
Unfortunate, Says Dun's, With Con-
sumptive Demands Greatest In
Nations History.

~
Nations History.
New York, May 1O.-R. G. Dun &
Co. Weekly Review Of Trade, issued
today, said in part:
At a time when consumptiye de-
mands surpass all previous records
in the nations history it is unfor-
tunate that production should be cur
failed. Yet that is the present situa-
ton. First, labor controversies and
a tornado stopped work at many
points, greatly reducing the output,
and many more wage disputes must
be settled before the end of the
month or furnace fires will be bank
ed and wheels cease to revolve-
Losses by, the elements have been Sc
we're, the largest tin plate plant in
the world being rendered idle proba-
bly, for month, while many foun-
dries and chops were totally destroy
ed Prices of commodities on May /,
as shown by Dun's Index number,
rose to the highest point in recent
years, gaining 60 per cent over the
corresponding date last year, bit this
week there has been a materiiI de-
cline in some products, notably grain
Distribution through retail cha anels
continues very heavy, seasonable
weather exerting most helpful in
fiuence. Railway earnings are stead
lily gaining, full returns for April eX-
ceeding last years by 1915 per cent,
and 1900 by $50 per cent.
Procrastinating consumers who
predicted collapse in the iron and
steel market similar to the break
that occurred two years ago have
greatly augmented the pressure by
tardily attempting to supply their re
quirements. 1t has been obvious for
some time that there is utterly lack
ing the artificial movement tending
to initiate prices that was conspicuous
in the opening months Of 1900 The
only limit to prices appears to be the
ability of the purchasers to pay fancy
figures, according to the urgency Of
their needs. Meanwhile there is no
advance on long term contracts, and
these cover the large bulk Of the
business. Productive capacity is
being greatly enlarged, but there is
no evidence as yet that the nations
needs are not expanding equally fast.
Wooden goods are scarce, but the
demand is still confined to substitute
orders caused by the strike.
Dispatches to this paper promise a
large wool clip, though the late spring
has delayed shearing. There has
been less selling of wool on tho
sleeps Backs, and ranchmen appear
to be in financial condition to mold
their yield until satisfactory prices
are forthcoming.
More encouraging weather reports
have made the outlook brighter for a
normal wheat yield, while the wide
discrepancy between census figures
and those of the agricultural depart
ment regarding the crop OF 1899 sug-
gested the idea that in succeeding
years the production was heavier
than officially reported. These infu-
ences were depressing. while there
was little of a sustaining nature in
speculative operations.
Special reports to Dun's Review in
dictate that the spring wheat outlook
is good though some reduction in
acreage was caused by high prices
for coarse grain and last years splen-
did returns from flax. Evidence Of
large planting had a weakening influ-
ence on corn, but there still appears
an increase of % per cent Of the
prices a year ago and so per cent
over 1900 at this date
Failures for the week numbered 21S
in the United States, against 1S7 last
year, and "a in Canada, against &c
last year.