Holbrook argus., 1902-01-11
DUN'S REPORT
A Review of the Productions and Trade
 Conditions of the Year


 ness during the year was the progress made in manufacturing. It is impos- sible to be too extravagant in decline ating the movements of the industrial world. Never in the history of this or any other nation has such develop ment occurred within the space of a twelvemonth. The expansion of pro ductive capacity was enormous, the improved methods of work and organl- zation were conspicuous, wise econom- 1 ics were introduced but more than all other factors that made for permanent prosperity was the conservative resist ance to crice imitation.
 IRON AND STEEL.
 After the reaction in 1900 the level of price sremained depressed for some months, but generally responded to the increasing demand as excessive accu- mutations were absorbed. From con- dition of glut there arose almost a famine, greatly exaggerated by the stubborn strike. Aside from the slight fall during the period affected by the strike, there appears almost a steady gain in the production, closing with the maximum quantity on record. The output on rails was beyond all records yet, and contracts for 1902 already in GIcate another high-w water mark of probably 3,O00,000 tons.
 MINOR METALS.
 Establishments of quotations were secured during December, after a year of unreasonable inflated prices. Copper was stubbornly held at 17 cents most of the time, but when the reaction began there was a fall of 4 cents within few days. Tin was advanced to 2S% in June but fell to 22 cents in December. Similarly with the lead, the nominal price of 43s cents was cut to cents. Tin plates closed the year where they opened, but in the interim there was an advance of $7 on account of the famine tht followed the strike.
 All records of output for hard and soft coal were surpassed during 1901, despite the scarcity of cars that re- tarded the operations. A feature of great advantage was the expanding ex- -port movement. which reached more encouraging proportions than in earlier years. In ten months the value of shipments was $19 9,0S7, ,,S53 against $17,- S20, ,S64 the year previous.
 LEATHER CONDITIONS.
 An entire year of activity and an -era of high prices characterized the leather market. but there has been no boom, such as experienced during 1895 and resulted in one of the most dis astrous slumps ever known in leather history. The rise in values was steady and by easy stages and entirely legit- mate, inasmuch as it was based on the laws of supply and demand.
 Further declines occurred in the price of wool during the opening months of 1901 and the bottom was not reached until July 1. With the absorption of surplus stocks and gen. eral revival in the industry, the turn ing point was reached in September. Further strength and activity was in evidence each succeeding month.
 THE PRODUCE MARKETS.
 While 1900 was the best year ever ex- perienced by domestic agricultural in terests, the opening year of the new century was in many ways more profit able and the two together have put the farming population in much the most satisfactory position in the na- tons history. Exports of the staple products reached new high record, notwithstanding the lower average prices of oil and cotton, and the scar city of corn. The crop year opened with a new record of wheat and flour exports. amounting to 34 4130, ,3S0 bush els in August, far surpassing any pre- voius month. while for five months ending November 30, the aggregate was 126, ,928,162 bushels.
 BANK RECORDS.
 In the year of big things, it was natural that new high records would be recorded in deposits and loans. Fi- nancing of big syndicate operations and unparalleled stock market deal