The Washington times., 1902-01-11
Buying Of Staples Conducted
on Large Scale.
IRON AND STEEL ACTIVE LEADERS
Bradsircet and Dun Report Resump-
tion of Normal Business Condi-
tions After Rush of HOlidays-In-
creascs in Bank Exchanges Over
Last Near-Cotton Situation.


Trade advices, as reflected in tele-
grams to Bradstreet's, exhibit some ir-
regularity, caused by weather conditions
or proceeding from the early stage of the
season. Retail distribution of heavy
clothing. boots, shoes, and rubbers, is
checked by mild weather, but. on the
other hand wholesale trade in spring
goods, though still quiet, is preparing to
throw Off the inertia of midwinter
Good Reports Had.
Stock taking is now completed, and
jobbers are anticipating an active ship
ping business. Specially good reports
come from the Northwest. Southern trade
advfces are, as for some time past, least
favorable. Cotton is 20 per cent lower
than a year ago and depression in sugar
is spreading.
That considerable spring business
has already been booked is indicated by
the heavy shipments of merchandise
Speculation is likewise exhibiting a
broadening tendency, but here also some
irregularity is manifested owing to
counter currents and technical market
conditions. The industries in the main
continue active. Iron and steel setting
The pace, lumber, the textiles, boots and
shoes and machinery manufactures are
actively employed.
Reflection of Collections
The growing ease of money is refIec-
tion of previously reported good collec-
tions, following active trade in the late
months of last year. Bank clearings con-
tlnue TO show moderate gains over a
year ago. Enormous totals and railway
earnings likewise show growth. though.
as IN bank clearinGs, the percentages of
gains are necessarily small. because of
exceptionally heavy returns in 1901
There seems ground for the complaint
mat rate cutting is proceeding actively
IN railroad circles, despite the fact that
a sufficlency of business exists for ALI
as evinced by the continued ard even
accumulated complaints CT car shortage
although some Improvement is noted this
week in the latter respect. II would seem
eVeIdent that the community Inter
est idea might be prcfitabiy extended
il this direction
Cotton Goods Strong
Cotton goods are apparently in strong
position. Spring styles of prints and
ginghams have been opened at Eastern
markets, but jobbers claim the season is
later than usual. Ginghams are. how
ever- heavily sold ahead. and the dress
goods market, as q EF@n6le. displays a
very confident tone. At the Northwest
shipping business in dry goods has beer
active and large shipments confirm this
report.
Raw cotton was very weak early or
continued large receipts, leading to an in
eF
movement centred on the reaction and
most of the loss was regained. The dis
position TO accept medium crop esti-
mates has grown.
Exports of Yarn.
Exports of yarns and clothing from
this country and from Great Britain
were very much heavier in December
than the year before. Wooden mills are
actively employed.
Business failures for the week number
3i6 as against go last week, 322 i'll this
week last year, 295 in 1900, 3o4 in 1899,
and S23 in 1885,
Dun's weekly review of trade tomorrow
will say:
with the unprecedented holiday busi
ness ended transporting facilities are
more nearly adequate for regular re-
sumers more promptly. and in the iron
region there is less interruption TO work
because of insufficient fuel. Normal con-
ditiors have by no means returned. how
ever and il will be some time before
shippers can safely guarantee deliveries
on a specified Date"
Buying of Staples Heavy.
''Buying CT staple commodities is on
large scale, fully sustaining quotations
at a high level. except in the few in
stances where efforts were made to hold
prices above the point warranted by the
ratio Of needs to supplies. Fictitious
values cannot be maintained indefinitely
and the commercial system benefits by |
a return to the position where distribu- |
tion is facilitated.
Labor controversies are few and un-
important while the new year has |
brought advances in the rate of wages at |
many points. Although speculative oper-
ations have been much smaller than IN
the corresponding week of 1901, New York |
bank exchanges show an increase OF 2 |
per cent. while compared with the same |
weel, IN 1899 the increase is 4S-S per cent. |
A; Other Cities.
"At other leading cities the increases |
are 10 per cent over last years figures |
and 372 per cent over 1899. Losses in |
railway earnings during the third week OF |
December by storms and washouts were |
more than balanced by gains in the other
weeks. and the months total shows an
increase OF 81 per cent over 1900 and II
per cent over 1888
Holiday idleness, Inventories, and an
nual overhaulings were all cut down to
the lowest possible limit at iron and steel
plants in the effort TO meet urgent de-
mands for consumers. Foundry iron at
the East is still scarce. higher prices be-
ing quoted at Philadelphia, and Chicago
mills cannot secure material in desired
quantities.
Activity at Cotton Mills.
Moderate imports have resulted from
the domestic deficiency but this will not
become a factor of Importance il the Sit
uation continues TO improve at the pres
ent rate. Weakness continues in minor
metals.
"Aetivity continues at cotton mills, al
hough domestic buying is on a moderate
scale. Exporters are bidding freely for
heavy goods. but as a rule fall short of
I<lders' views and little new business is
Home buyers OF goods are in
iuenced by the weaker tone of the raw
but sellers make no concessions
owing 10 the well sold condition of the
Mills
'JobbiEg trade in woolens gradually ex-
)ands, new lines selling fairly at moder-
tie advances over prices prevailing year
'go. Worsted yarns are scare and firm.
Awaiting London Wool Sales.
"A further slight rise has occurred in
lie average of wool prices, and the tone
$ strong, but there is tendency TO await I
he London sale ten days hence before