New-York tribune., 1902-12-31

anthracite coal strike. Other struggles between
labor and capital have been accompanied pS
greater loss Of life and bIoodshed. or more ols-
astrous destruction Of property. but no other
controversy in this nations history caused sucn
a PARALYSIS of Industrial activity and SO great
discomfort and loss to the general pubic rol
five n2anths this deadlock continued ciosins
mills and furnaces through insufficient suppiies
OF fuel. while the actual financial loss OF the
strike TO labor. capital and others VIII never pe
even approximated. 1t is probable that consuHl-
ers win he compelled TO pay large premiums
over regular prices during the remainder Oh ,''ie
winter while cost Of manufacturing plants mas
reached an unusual position: international trace
has also been badly disarranged by this factor
finished steel exports and coal shipmehts oeliis
especia ly reduced. while imports of pig iron ana
coal rose sharply, exceeding all RECORDS since
the steel Industry became fully established IN
this country Instead of the usual large net eS-
ports Of these products there were imports OF
over So 600 900 worth in one month
METALS.
The condition. Of the iron industry is still con-
sidered a safe barometer of general business
aud desnite the serious interruption Of fuei
scarcity the year 1902 must be oonsidered-by
far the most prosperous ever experienced While
the outlook for 1908 is still brighter
COAL AND COKE
,,;r,, ole,,er months of 1901 exports of coal
shaved = splendid increase 20 S20.663.S3S IN
,,sl,,e as against S19. .469, $50 IN 1900 but l9o-
his brought a different condition Of affairs eN-
r,orts declining to S16.705.3l4, with promise ol
: sti1l more striking loss for the full year "heli
fciaI returns are available. On the o1her hsiiu'
imports Of coal have become an important leaI-
,1re. in November alone being valued at s1'-of'-
T94 while large quantities nave beeh rece'Neu
since
ool-r -arog7I 7Ilftl
-,zesad l,ut the railways have not been able 10
handle il promptly. that ConneilsNlhe vaIds
sro now overstocked. while blast furnaces are
idle through want of fuel.
MARKET FOR WOOL.
After recent years of weak or declining mar
lots for wool the splendid advance and vigorous
activity of the last year makes most encour-
aging contrast
BOOTS AND SHOES.
Trade during 1902 was characterized by
generally steady market and prosperous busl-
,7se viii, most producers. The falling off in
sl,oo shipments from Boston from 1901 clearly
demonstrated the fact that sales of New-hng-
land manufacturers were not up to those OF
$780, but It is estimated that this slight decrease
in The East was made up by an increased pro-
duction in the West.
LEATHER AND HIDES.
The rise in values Of most kinds of leather
during 1901 was followed by continued activity
and an era Of high prices during 1so2- Inc
leather trade as rule last year was satisfactory
80 tanners of most varieties, although unusually
high rates for material served to make
profits small. Shoe manufacturers in New
England did not turn quite many shoes
as the vear previous. hut the falling OF in the
Trst was offset by an increase in the West, and
il IS estimated that leather sales were fully as
large.
THE WHEAT MARKET.
At leading domestic flour mills ali previous
records of weekly production have been fire.
Quenty surpassed during the year just closed !
Home consumption has been large. and also !
exports of -four. which appear to have attracted
more attention abroad than wheat, the ship /
Jneufs of the two being about equal in Novem- |
her. very abnormal state Of affairs Ship !
nents during FIVE months Of the current crop |
year were 105 137 $50 bushels -four included. |
compared with 126 ,92S 162 bushels in the cor /
responding months of 1901 Although the loss /
from the previous years exports appears large,
81 must not be overlooked that comparison is |
being made with much the heaviest year on |
record, the total for twelve months ending with |
June 80. 1902. being 932 6S4. 420 bushels.
THE CORN TRADE.
Agricultural results for the last year and gen |
eral business conditions for the coming year are
crop of 1902 Following a period Of almost |
= famine scarcity Of the maize CROP the country |
was blessed by the heaviest yield ever grown, |
in part due to the great expansion of acreage |
because Of high prices. Moreover. the grower
Is receiving abnormaly high price for his |
product, despite the certainty that a record
breaking yield is coming on the market. Quota
lions are sustained by the low stocks at all |
points and the low grading of early receipts
Just prior to the opening of the crop year on
July l he domestic visible supply was down to |
The exceptionally low point Of {, 5,1S9OOo bushels
and even after fairly liberal movement Of the
new crop the calendar year closed with only
about 100000 bushels in sight
THE MONEY MARKET
Although rates for call loans did not rise to |
the point attained during the Northern Pacific
corner in 1901. yet the year 1902 will always he
memorable for the greater general stringency
which existed especially during the closing
months. It essentially an artificial situa-
1icn, only remotely attributable to the increased
demand in commercial channels Primarily
there was locked up in connection with syndi-
cate operations no less than 100000 OO0 while
during the upward march Of security prices an
enormous amount of borrowing occurred in the
speculative operations At the same time there
appeared the customary withdrawal of funds by
Western and Southern banks. the heavy grain
crops and high rate of wages calling for an
unusually large amount, while the great actiy-
lty Of interior trade retained the currency in
circulation instead Of promptly returning ii to
this centre. as has been the case heretofore The
drain on New-York has also been larger in con-
nection with industrial combinations in the for
nation Of which manufacturers have taken
stock in part payment for their plants and sub