The Hocking sentinel. [volume] (Logan, Ohio) 1871-1906, 1902-10-09
| New York.

E' most fuel famine and
some damage to crops, industrial and
commercial activity continues unabated,
and the magnitude OF plans for the fu-
ture indicates that confidence has not
been shaken. Scarcity of funds has thus
far caused no hardship except 10 specu-
lators, and the stringcncy will remedy
itself by contracting loans on stock ex-
change collateral, together with such aid
as may be offered by the treasury, which
is partly responsible through absorption
of funds. Injury to crops by frost has
no more than offset the increased acre
age, while high prices fully compensate
producers. Ii is not a time for pessiIn-
ism, although securities have declined
sharply. Railway earnings for Septem-
ber thus far exceed last years by 6.S
per cent and those of 1900 by 16.5 per
cent"
Trade gives the foregoing summary Of
the industrial situation. Continuing, it
says:
Pressure in the iron and steel industry
has been somewhat alleviated by larger
receipts of coke and liberal imports of zig
iron, yet the outlook is by no means de
void of unfavorable features. No fuel
famine exists, although the furnaces are
consuming receipts of coke as they ar
rive, and it is impossible to provide for
more than immediate needs. Some idle
plants have resumed and now operate
from day to day with the constant men-
ace of an interrupted movement Of fuel,
which would suspend operations. At the
West this factor is most serious, coke
commanding $40 ton or more, while in
exceptional cases S13 has been paid. Ow-
ing to the numerous influences now IN
evidence there is less disposition to place
large contracts for distant delivery Of
pig iron and sales are chiefly Of small
lots. Foreign iron is freely received. and
other consignments are under considera-
tion. More steel rail orders have been
placed abroad. Needs for structural
shapes are increasing. much work being
held back by slow shipments, and orders
are reported for delivery nearly two
years hence. In an effort TO provide ade-
quate transportation facilities the rail-
ways are purchasing literally Of rolling
stock and other equipment, and great i'm
provements in terminal methods are PLAN
ned.
Although cotton goods are firmly held,
the market is quiet. as buyers are con-
tent to take only such quantities as are
needed for immediate distribution. The
situation is not satisfactory for prodIc-
ers, owing to the high price Of raw ma
terials. but the attitude Of purchasers
of goods indicates that they do not con-
slider the present position of raw cotton
one that can be sustained. 1t is too early
for supplementary orders in mems wool
ems and worsteds. yet there is some ex-
tension of original purchases, and the
tone of all staple lines is firm, while In
some instances advances over opening
prices are asked. No concessions are pos
sible in the wool market, which has in
creased in activity at the East. The de-
cline in meats has received check and
sugar is firmly held, with refners behind
in delivery.
Bradstreets says:
Wheat. including flour. exports for the
week ending Sept % aggregate 5.OiI.OIO
bushels. against 5.435.323 last week. g.
41O.362 in this week last year and AZ
$40 in 1900 Wheat exports since July
i aggregate 6O,614. 135 bushels. against
1862. 1877 last season and 42.762.5OO in
1900. Corn exports aggregate 1852
bushels. against 4O.50S last week, $751;
7O6 last year anl 2.156.111 in 1900. For
the fiscal year exports are 1.Oo5.Sll
bushels, against 12.11S,64O last season
and Al ,9i7 .412 in 1907