The age-herald., 1902-02-15
BUSINESS ON A
 SOLID FOOTING
Dun and Bradstreet Both Issue
 Encouraging Trade Reports
IRON MARKET STILL ACTIVE
The Industry Demonstrates the Fact That There Is Such a Thing as Too Much Prosperity-A
 Marvellous Expansion.

New York February A-R c. Dun & Co.'S review of trade tomorrow will say:
 Business continues to progress satisfac- torily notwithstanding heavy losses through the element, the new year block ades being closely followed by fires and explosions destroying much property and retarding traffic. It is only another evil dence of the solid basis upon which the nations industries are established that in each case plans for rebuilding on grander scale were made before the shock of the catastrophe had fully passed. The labor situation has distinctly improved during the past week. A slight decrease of S.5 per cent in railway earnings for the first week of February as compared with the same week of last year, was not sur prising in view of the many severe storms and the diminished movement of grain.
 Too Much Prosperity.
 In the iron and steel industry it is now being demonstrated that there is such a thing as too much prosperity. During the last few years there has been such a marvellous expansion in domestic busi- ness that the capacity of furnaces and mills as well as transporting facilities have failed to keep pace The result IS gradual falling back with deliveries and a tendency of buyers to buy abroad whenever needs are urgent. One case is now in evidence of steel rails to be de- livered at Florida port which, after paying the duty, will cost about $5 ton more than the regular domestic price. Yet more producers are fully sold up to about September l. According to the Iron Age pig iron production during Jan uary was at the record breaking rate of 1,450,000 tons and the reduction in fur mace stocks indicated that consumption was still greater lines. It is remarka- ble that these stocks are now only 154,- 200 tons against 67O531 tons on October l, 19O0 which during that time the weekly output increased from 223, ,169 tons to 340,- SIP on February 1. 1902. Unfortunately, the present production is below this re- cord breaking figure, because the recent storm disorganized the freight movement and many furnaces are now banked through lack of coke.
 An unusually large number of buyers in tho Boston footwear market promises much business, though there is some hesitation about paying the recently ad- vanced prices.
 Strength in Textiles.
 In the textile industries there is notable strength and activity in silk goods, de- spite a slight shading of raw silk. Liber- al jobbing distribution of dry goods has brought a gradually expanding demand. except on Southern orders, which are be- | low expectations. Stocks of cottons, | lightweight woolen goods and worsted | fabrics are short and deliveries are aften later than the specified dates. Print | cloths advanced but quotations are gen. orally steady with the tendency against buyers and many lines of woolens have already been withdrawn.
 Higher prices were the rule in the markets for the leading agricultural sta ples.
 Interruption to movement by deep snow and the holidays was not sufficient ex- planation of the decrease of Western re- ceipts of wheat to 2294.9 bushels against 2940, 46S last year. or of corn to 1sb1.6O bushels compared with 4402,539 a year ago. If present high figures are not at- tractive enough to bring out a more lib- eral movement there is evidence of light supplies and proof of continued strength. On the other hand, some neutraltz1ng in- 1uence must be recognized in exports of wheat, flour included, from all ports Of the United States, aggregating only B. 4z9 S2O bushels against 3999,05S bushels last year while Atlantic ports sent out 3,36O, 75S bushels of corn compared with 3,NooSz a year ago.
 Cotton was even more vigorously ad- vanced Middling uplands attained the top point of the crop year. The late movement will be of little benefit to pro ducers however, since our eight million ua.es have been n rketed and much Of the balance has been undoubtedly passed into the hands of factors.
 Failures for the week number Ao In the