The Minneapolis journal., 1903-12-26
PLANTSARE CLOSED
FOR STOCK TAKING
INVENTORY TIME BRINGS MUCH
TEMPORARY IDLENESS.
Few Labor Disputes Steel Producers
Look for Much New Business Next
MONTH"; Cotton Still on the Boom
and Fluctuating Violently-Rail-
road Traffic Not Seriously Impeded.

New York, Dec. 26.--R. G. Dun & Co.'s week
" review of trade to-day says:
Holiday conditions pervaoe the markets and
most OF the exchanges closed yesterday
Manufacturing plants are stopping for inventories
and repairs IN many cases the extent OF idle
ness being considerably greater than for the cor
responding season in recent preceding years.
Inere has been a liberal YOiume or business In
hicttng In comparison with 1902. An encour-
aging sign Is the Improvement in collections.
I, Railway traffic is not seriously impeded by
the recent storms, owing to better methods o.
operation. Earnings thus far reported for De-
cember exceed last years by per cent; Agree,
1nents are being made with little friction as to
wage reductions, except in the case OF coal
mining, and several idle plants have fixed the
date Tor resuming work.
Few labor disputes are in progress and steel
producers look TOR much new business early
next month.
'Engagements Of gold were checked by sharp
have raised treasury gold holdings far above
al previous records, and money is unusually easy
Owing to the decrease in speculation. bank
| smaller than a year ago at New York, while
at other leading cities there was q gain OF d
per cent.
Leading interests in the iron and steel indus
deciding against any further reductions in quo
tations, and there are numerous indications that
prospective purchasers do not intend to delay
ries and repairs
Expressions Of opinion, are heard in many
prominent markets that orders Will begin to ap-
pear at about the middle Of January, and Z
liberal volume of business will be placed for
work to be done early in 1904.
The shops are receiving few new orders and
there Is little effort at present to increase actiy-
tty. Eastern wholesalers more cautious re-
garding additional contracts for spring lines
but western jobbers are seeking supplies ltber
ally.
Conservatism is still the leading charactee.
1sttc in every department of the cotton goods
market. Mills are steadily curtailing on eput
and find 1t impossible to secure advances in
finished product commensurate with those in
raw material. Purchasers of cotton take only
Tor urgent needs and refuse to pay the quotations
asked for distant deliveries. No demand for
China is seen, and the export division is doing
nothing, prices being well beyond the views OF
foreign customers.
Cotton has again risen beyond all records fol
! a quarter of a century, and fluctuations Of $25(
a bale In single session is no longer considered
exceptional while option trading of milior
bales daily is not unusual. Few cash sales are
reported, and the planters receiving SIS
for their cotton, yet the mills that have no raw
material on hand will be obliged to pay the
prices or else stop work. Exports have con
tinued liberal scale.
"Grain movement within narrow limits, nc
special news appearing other than RECORD
for wheat reduction In Australia. Prices are
firm.
Failures this week numbered 2S4 in the
United States, against 200 last year, and 33 IL
| Canada, compared with 2l q year ago.