The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1903-10-20
NARROWER FLOWS
INDUSTRIES TIDt
finance and Labor Disturbing
Elements This Year.
JU IN PIG REDUCED
\ G-n-ral R-duc ion i, wages is TO b: lHkec
for Among iron and Steel Workers.
Idle Cotton Mills Start
CBy the Associated Press.)

New York, oct. 16.-R. 6. Dun anu
Company weekly review Of trade tomor
row will say:
While some contraction in trade and IN
dustry undoubtedly has taken place, il il
GOT III proportion to the reduction OF =
per cent. in pig iron outpu or the re-
action IN prices Of securities, although il
normal years these have usually proved
fairly reliable barometers. Many branche>
Of manufacture, however, are working full.
force, with large orders still untitled
while the latest returns Of the crops are
most encouraging. Finance and labor arc
the disturbing elements this year, neu
tralized very largely by favorable com
norcial and agricultural conditions. The
net result is a fairly well maintained
volume OF trade, offset by conservatism
in carrying out protected new undertake
ings and proposed extensions of facili
ties. Railway earnings thus far available
for October are 6.2 per cent. larger than
last year and 12.7 per cent. above 1901.
Widely conflicting reports are received
as TO the condition of the iron and stee'
industry. There IS evidence that the de
cline in quotations has been checked, al
though it is occasionally stated that spe
cial terms are made on important con
tracts. \ better inquiry is noted in the
West, pig iron being freely taken by open
hearth steel furnaces and makers of rail
| way supplies. and in some favored lines
the new orders cover deliveries through
all OF next year. A significant event was
the announcement that control of the
Clarion Steel Company had not passed
to the leading producer, and these mills
with their modern equipment viii con
tinue to operate independently. One re
suit of the severe fall in prices and di
minished activity will be a general re
auction in wages, some plants having al
ready announced their intention to make q
new scale on January 1.
Foot wear factories are busy on con
| tracts that will require some time to fir
ish and wholesalers still complain that de
iyeries of heavy goods are not made
| promptly, yet there are indications that
trade is quoting down at the East. There
is no elimination in activity at the West.
More idle machinery has resumed at
cotton mills. but the cost of raw cotton
is still considerably above a parity with
| the prices that buyers are willing to give
for goods. Increased inquiries are noted,
| although the unsatisfactory quotations
prevent business being consummated.
Woolens are dull in mems wear fabrics
and quiet in dress goods.
Failures this week number 20S in the
United States against zee last year and
IN Canada IS compared with a a year ago
COMPARATIVE COTTON STATEMENT.
New York, Oct. 16.-For the week end
ing Friday, October Is, 1903: Net re
ceipts at all United States ports during
week, 301, $40; net receipts at all United
states ports same week last year, "314,i31:
total receipts since September 1St, 1.2t6,-
33S; total receipts to same date last year,
1,637, S79; exports for the week, 270,t71;
exports for same week last year, 207,tt3;
total exports since September 1st, 716, 701;
+otal exports same date last year, 1,054,-
800; stock at all United States ports,
| 1877. 465: stock at all United States ports
,ame time last year, 54o,201; stock at ali
inferior towns. 159,44S; stock at all IN
| terror towns same time last year, $50, 6i2;
stock at Liverpool same time last year,
%, 400; stock of American afoat for Great
Britain same time last year, 1880 0
MOVEMENT OF COTTON.
| New York. Oct. 16.-The following sta
t~istiCs on the movement OF cotton for
the week ending October 10th, 1903, were
compiled by the New York Cotton Elk
change:
Weekly Movement