The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-12-26
MANY Industrial Enterprises Are
Taking Advantage of Oppor-
tunity to Make Repairs.
BUSINESS REPORTS CONFLICT.
Encouraging Sign Found in I'm
proyement OF Collections
Labor Disputes Less Acute
Than in Recent Months.

New York. Dec. 25-R. G. Dun Co.'S
weekly review of trade tomorrow VIII
say: ,s
Holiday conditions pervade the markets AND
Vet ~ the exchanges are closed until Mon
day.
Manufacturing plants were stopping 1or IN
ventories and repairs. in many cases the e@-
tent of idleness being considerably greater thhh
for the corresponding season in recent preceo-
ing years. .,,,,,
There Ia. been liberal volume Of business
10 bolIdav r,oods but reports somewhat con-
Aictinp in comparison with 1902 An encoufas-
ing sign is the Improvement in collections.
Railway traffic was not seriously impeded by
racent storms. owing to better methods OF op-
Grafton and earnings thus far reported for De-
cember exceed last years by per cent.
Agreements are being made with little fric-
ton as to wage reductions. except in the case
of coal mining and several idle plants nave
fixed the date for resuming work. Few labor
atsnutes ara in progress, and steel producers
look for much new business early next month
ENGAGEMENTS Of gold were checked by
sharp recovery in foreign exchange, although
receipts have raised treasury gold holdings far
above all previous records. and money Is un-
usually easy for the season.
Owing to the decrease in speculation, bank
exchanges for the week were 1871 per cent
smaller than a year ago at New York. while
at other leading cities there was a gain OF %
per cent.
Leading interests in the iron and steel indus
try brought more stability to the situation by
deciding against any further reductions in quo
tations and there are numerous indications
that prospective purchasers do not intend 70
Inventories and repairs. Expressions Of opin-
ion are heard in many prominent markets that
orders will begin to appear about the MIDDLE
Of January. and liberal volume OF business
will be placed for work to be done early in
Shoe shops are receiving few new orders. and
there is little effort ss present to increase as
regarding additional contracts for spring lines,
but western jobbers are seeking supplies lib
coBservatism is still the leading characteris
tic in every department of the cotton goods
market Mills are steadily curtailing output
| ard find 1t impossible to secure advances In
| finished product Commensurate with the rise In
raw material. Purchasers Of cotton take only
| FOR urgent needs and refuse to pay the quo
| tations asked for distant deliveries. No de-
Vision is doing nothing, prices being well be-
| yand the views Of foreign customers.
Cotton has again risen above all records for
| a quarter OF century. and huctuation OF 81 90
| sidered exceptional while option trading of a
| million bales daily is not an unusual occur
renee Few cash sales are reported, and
! cotton vet the mills that have no raw ma
| teriai on hand will be forced to pay the prices
| or else stop work Exports have continued on
| q liberal scale.
| news appearing other than a new record for
| wheat production in Australia Prices are
! firm.
States. against 200 last year. and twenty-five in
Canada. compared with twenty-one a year ago.