The Washington times., 1902-10-25
DUN'S COMMENT ON
TRADE AND FINANCES
Evidences of Great Indus
trial Activity,
ROLLING STOCK INADEQUATE
Labor More Fully Employed Than at
Any Recent Date-Increase in
Bank Exchanges.

NEW YORK, Oct. 24.-Dun's revie,
tomorrow will say:
NO better evidence of industrial an,
commercial activity is needed than tn
present inadequate transporting facili
ties. Every form of railway equipmen
from track to rolling stock has beef
increased and perfected during the pas
few years to an extent that appeared al
most excessive, yet the nations bust
ness has more than kept pace.
Retarded by Mild Weather.
Unreasonable mild weather has re
tarded retail trade at many points, YET
the movement of goods is fully sus
tanned by undiminished preparations fol
future sales. Distribution delayed b,
high temperature is not lost, while the
agricultural community will profit very
materially by the tardiness of frost. in
,reasing their ability to consume the
products of factories and mills.
Labor is more fully employed than at
any recent date, only few small con-
troversies interrupting.
Money market pressure has been re-
moved, and, although securities do not
respond, legitimate trade is necessarily
retarded by the quiet speculation.
Earnings of the railways during oc-
tober thus far exceed last years by
4.5 per cent, and those of 1900 by 12.O
per cent.
Increase in Bank Exchanges.
Bank exchanges at this city for the
week were 39.2 per cent larger than a
year ago, and 55.4 per cent in excess of
1899 while at other leading cities the
gains were SIS and 200 per cent, re-
spectively.
Coke is still the vital factor in the iron
and steel situation. Not only has no i'm
provement occurred, but the supply of
fuel is falling further behind, and the
cannot get cars to the furnaces now, it
is obvious that traffic will be further
congested when snow falls.
Surprising All Records.
"Connellsville ovens are surprising all
records of output and stocks in the
yards are about up to the limit of ca
pacity. Colorado coke selling in Chica-
go at $3.50 ton indicates the scarcity
at consuming points. Otherwise the sit
uation is practically unchanged.
''It is still conspicuous in the cotton
goods market that the buyers are slow
to anticipate future requirements, ap-
parently having confidence in cheaper
below parity with the raw cotton mar
ket, which is a supporting element from
the sellers point of view.
Exceptionally favorable weather has
prevailed for developing the top crop Of
cotton, securing late grain and getting
all farm products to market. Another
week without killing frost added ma
terially to the yield.
Cotton is moving freely, and there is
a tendency to enlarge estimates of the
total output, yet on the other hand
prices are sustained by the remarkably
heavy exports of the season thus far
Ind the activity of domestic spinners.
Rise and Fall.
Stocks rose moderately on saturday. |
nut subsequently weakened, although the
ews was almost uniformly favorable
The miners convention on Tuesday re- |
moved the last menace to industrial |
'rogress, reports of railway earnings |
ontinued encouraging, while the none
airy situation showed steady improve
lent
Last weeks bank statement indicated
good surplus and large sales of bonds
D the Treasury increased the supply of
ash in the open market. Rates re-
ponded by falling TO about per cent
For time loans and call. money was
ven cheaper. Yet speculation was not
nlarged. conservative feeling predom-
hating. except where specialties re-
eived inside support
There was much uneasiness regarding
'reign exchange, gold exports being
AIRED, despite the liberal outgo of grain
nd cotton. Considering the fact that
'oss gold in the vaults of the Govern
ent is about $500 ,OOO, 900, there does not
,pear any good reason for dismay, even
the heavy borrowing abroad during
cent months should necessitate mod
ate outgo of the precious metal.
Never before was the nation in as
'od position TO pay Its debts. which in
is case arise from speculation rather
an an adverse balance.
Failures for the week numbered 222
the United States against 240 last
ar, and % in Canada compared with
!"