The Washington times., 1902-12-06
President ROoSc0elPS Mes
sage Inspires Confidence
and PreSageS UHbounded
Prosper1ip-NoUnoe5fam-
" IN Business Circles.
Business Acf0HY Continues
m ErceSS of Precious
Years, and Prospect for
LiUeIY Increase WHR Cold
Weather.

the nation will continue ina a period Of
unbounded prosperity is strengthened by
President Rcosevelts wise reCOmmeuda-
tions. There is none Of the uncertainty
in business circles that frequently accom-
pauies the opening Of a session Of Con-
gr,ss as there is no prospect Of dele
torious legislation. but much hope that a
new currency law viii assure immunity
from money market disturbances hereto
fore of such frequent occurrence and so
menaciug Co legitimate trade. Industrial
and commercial interests viii be greatly
benefited II Congress heeds the Presi-
dents terse warning that "iusistence
upon the impossible means delay in
achieving the possible"
Unreasonable Weather.
Aside from the interruption 20 retail
trade in winter goods at many points nv
unreasonable weather. business activity
continues in excess Of previous years. and
# Is probable that all the postponed trade
will be made mp now that low tempera-
ture has become general. While the
warmest November on record al the East
affected sales Of clothing. it helped to re-
store the fuel equilibrium. Notvithstand-
ing a much smaller volume of specula-
tion, bank exchanges at this city for the
week we're % per cent larger than in the
same week last year evidencing a large
gain i'm payments on regular business.
and compared with 1859 the increase was
341 per cent while az other leading
cities there we're gains Of I and Isl per
cent respectively. Traffic congestion tes-
tiGes 20 the amount of freight offered TO
the railways. and the remarkable gain in
transportation is shown By November
earnings per cent larger than last
year. and H. per cent I'm excess Of 1900.
Manufacturing plants are well engaged.
and an evidence Of the successful season
is found in much Iafger FaI River divi-
dcnds
Dairy and Garden Products.
The course Of commodity prices is
faithfully shown by Dun's index number.
which was Sl0O44g ou December /,
against 2gq579 on November !. and
Sl0l.3IS on December j. 1901 Higher
prices for dairy and garden products ac-
count Tor the rise during November, but
81 Is particularly gratifying TO the con
sumer that the present level is nearly I
per cent lower than at the correspond
ing date last year. This change is also
in foodstuns. where the cost of living
was abnormally expanded by short crops
iu 1901. Securities were adversely ar
1ectcd by high rates FOR money, the
banks losing 90 the subtreasury. while
gold was sent to South America For
eigu commerce at this port steadily
gains, exports exceeding last years by
El.Z05.I55. while imports were S533 sol
larger than in the same week Of 1901
Cotton Mills Light Stocks.
Cotton mills have light stocks. and the
demand. although quiet, is sufficient 20
prevent accumulation Of goods in first
hands. Consequently there IS no effort
10 force sales iu any staple lines. a
small decline occurred in the print cloth
yarn division Cf white goods, while on
the other hand colored cOttous are
sliEhuy hrmer. Export trade in heavy
brown cottorH is unsatisfactory. Re
order demands for liEGt weight woOlens
ere limited. and there is much con-
fervatism iu placing spring business be-
cause OF the el1Wless with which sea-
sOn1hlc goods are moving owing 20
heavy initial orders. however. mills are
busy. a further advance fin raw wool
gives O better value 10 the finished
product but selling prices are without
alteration.
Iron and Steel
1rrcgularity is reported in the iron
and steel market. most departments hav-
ing much business. while a few are
seeking new orders and seem disposed 10
make slight concessions. Stability is
naturally most conspicuous in those di-
visions There it has been possible to
prevent imitation. while in cases OF eN-
treme pressure and high premiums for
early delivery. The imports that have
been attracted hithcr have "a demOraI-
izinE influence. tn view OF the scarcity
Of coke. t is not easy for domestic pro-
duccrs 10 meet this foreign competition.
and when any material reduction rs made
IL may De found that foreign concerns
VIII also cut prices.
Failures in November.
Statistics OF failures during November
disclose no weakness in the Industrial
structure. On the contrary. there Is
every evidence Of strength. Several fac
tors initiated against success I'm tine
business world, and an unusually heavy
commercial mortality would have occa-
stoned no surprise AT the opening Of
the month uanufacturing plants had just
passed through a fuel famine which rem
dered operation abuormally expensive.
trade had been weakened by the dimiu-
ishcd consumption of a vast army Of
wage earuers voluntarily idle. while the
financial community experienced the try
iDg ordeal OF a severe decline lu prices
Of securities Nevertheless. total com
mercial insolyeucies involved only So
276.7Is. compared with $l0.S51 .534 I'm Oc-
tober. and So. .4f6 iu November. 1901.
DEATH OF FRANK L. DOAN.
Frank L. Doan. OF Wilmington. Ohio.
and late OF Washington. D. c.. United
States collector of customs at NogaIes.
Ariz.. is dead OF typhoid fever az Nog-
ales. He leaves "a widow and two chill