The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1902-09-27
is NOT A TIME
FOR PESSIMISM
Dun and BradStreet Offer En-
COuraging Predictions
ALMOST A FUEL FAMINE
Scarcity of Funds Has Thus Far
Caused No Hardship Except to
Spectators, and stringsncy
VIII Regulate Itself
ALMOST A FUEL FAMINE

New York September 2e-R. G. Dun
& Co.'s weekly review of trade will say
tomorrow:
Notwithstanding the disarranged money
market, almost a fuel famine and some
damage to crops Industrial and COM
mercial activity continues undated and
the magnitude of plans for the future
indicates that the confidence has not
been shaken. Scarcity of funds has thus
far caused no hardship except to specu-
lators and the stringency 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 for the alb
sorption of funds. Injury to crops by
frost has no more than offset the in
creased acreage while high prices fully
compensate producers. It is not time
for pessimism although securities have
/ declined sharply. Railway earnings for
September thus far exceed last years by
6.S and those of 1900 by 1876 per cent.
Pressure in the iron and steel industry
has been somewhat alleviated by larger
receipts of coke and liberal imports Of
devoid of unfacorable features
No fuel famine exists, although the
furnaces are consuming receipts of coke
as they arrive 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 con-
slant menace of an interrupted move
ment of fuel which would suspend opera
tions. At the west this factor is most
serious coke commanding $40 a ton or
more, while in exceptional cases $13 has
been paid. Owing to the numerous in
fluences now in evidence there is less dis
position to place large contracts for dis
tant delivery of pig iron and sales are
chiefly of small lots. Foreign iron is
freely received and other consignments
are under consideration. 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 adequate transporta-
ton facilities, the railways are purchase
ing literally of rolling stock and other
equipment and great Improvement in
terminal methods are planned.
A further slight advance IN footwear
quotations indicates that the healthy de-
mand has made it possible for manufac-
| turers TO secure compensation for the
recent sharp rise in materials Country
hides show the principal declines of the
| week.
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 producers
| owing to the high price of raw materials,
| but the attitude of purchasers of goods
indicates that they do not consider the
present position of raw cotton one that
can be sustained 1t is too early for sup
| Elementary orders in mems woolens and
worsteds yet the tone of all staple lines
is firm. No concessions are possible in
the wool market which has increased in
activity at the east. The decline in meals
has received check and sugar is firmly
held, with refiners behind in delivery
Failures for the week numbered 207 in
the United States against 227 last year
and 80 in Canada against "a year ago.