The Washington times., 1902-12-13
DUN'S WEEKLY
REVIEW OF TRADE
Importance of the Civic
Federation's Deliberations.
lNSURES INDUSTRIAL PEACE
Retail Trade Accelerated by Lower
Temperatures ana Holiday Demands.
Railway Earnings Large.

Dun's weekly review of trade today
says:
AS industrial peace is essential TO
national prosperity. the week has been
most fruitful. The annual meeting OF the
Civic Federation brought together labor
leaders and capitalists. and facilitated
interchange OF opinions. Little friction
occurred. and there Is every prospect
that hereafter amicable adjustment of
most disputes vlN be reached. This
organization effected numerous settle
nents during the year. in some cases
involving important industries. but the
work has been done SO quietly chat the
public does not appreciate its service.
Business viii be greatly leGcIJcd by
the large amount of money put IN cir
cUlati0u hy work ON the Pennsylvania
Railway tunnel. which is expected TO
begin In the near future. while oceUpa-
tion Will De- provided Tor aI l-1uy of
wage -earuers. Lower temperature and
holiday demands have combined 10 ace
celerate retail trade. sales largely cx-
ceeding the corresponding week 10 pre-
ceding years. Muca postponed business
is being made mp, and shipping depart
ments are crowded with work. but
wholesale trade has ruled quiet
Bank Statement Gratifying
Considering the striking decrease in
volume Of speculation. the figures Of
bank exchanges at this city are most
gratifying, showing a loss Of only ISS
per cent compared with the same week
last year, and an increase Of 4.3 per
cent over 1899 At other leading cities.
however, there is q loss Of d per cent
from last years clearinEs. while fail
ures are exceptionally numerous. Rail
way earnings for the month OF Novem-
Der exceeded last years by 20 per cent
and those OF 1900 by 205 per cent.
considering the extent 90 which
blast furnaces we're Handicapped by In
adequate supplies o. fuel The prOduc-
tiOn Of 1.464. i23 tons o. pig iron i'm No-
vember was much larger than generally
anticipated. although smaller than IN
any other month OF the half year except
September.
According 70 the Iron Age. the
weekly capacity OF furnaces I'm blast On
December I was 543, ,551 tons. aEains,
337 $50 tons weekly on November l. and
324. 761 tons a year ago. Numerous fur
naces have been blown ia. and IL is GER
tain that output will rise Ear above
! ] 500 600 monthly as soon as normal con-
ditions exist in regard TO the supply of
coke With the added interruption o,
snow blockades. however, 20 rs nOl
/ probable that free movement Is 80 be
/ expected in the immediate future.
Transportation Inadequate.
"At first glance the sudden rise in
furnace stocks Of pig iron to 94205
tons. compared IN 71.25S on November
u. might suggest that consumption was
below production Vat obviously any ac-
cumulation that occurs is due to made
quate transporting facilities. since needs
are urgent. as evidenced by the imports
Of eastern steel works. The pressure IS
stiu greatest for railway supplies. with
structural material next as TO urgency
Of demand.
Small supplementary orders FOR
spring shoes are received by New Eng
/ land shops. but the season is practically
over. Buyers are urgent for delivery on
early contracts. and factories are now
/ fully engaged. It is encouraging that
many leading producers are compelled 90
refuse orders calling for delivery before
March. which turns the business over
to other concerns, distributing activity
more uniformly.
Statesmen al the West have thus Ear
sent in few orders for fan aud winter
. goods. Local jobbing and retail trade f.
/ footwear has been brisk with the sea
sonable weather. Aside from activity iu
/ union sole. the leather market has been
quiet Further recessions have occurred
/ In domestic hides On the other hand
foreign dry hides are firmly held. de-
/ spite increased receipts. Conditions arc
practically unchanged as to cotton goods
/ a fair volume of orders preventing ac
cumulatiOn at the mills