The Barre daily times. (Barre, Vt.) 1897-1959, 1903-06-01
CONDITION
OF TRADE
Wall Street Slump Not Due to In
dustrial Depression.
RAILROAD EARNINGS LARGE
Staple Crops In Good state Despite
the Dronght--Unrest in Labor Cir
cles stiil Hampers Structural
WorIS-FalIures For the Week.

New York, May 30.-R. G. Dun &
Co.'S weekly review Of trade says
While It Is true that Wall street usu-
ally discounts any material reaction in
business it is also a fact that stocks
sometimes decline from other causes.
During the post eight months the aver
age price Of sixty railway securities
has fallen about $40 share, yet it
must not be inferred that industry and
trade have suffered q corresponding de-
probation. Too much Significance may
be attributed to the stock market ow-
Ing to It's accurate barometrieal duetu-
atoms heretofore New factors have
recently been In evidence in Wall
street that influence prices irrespective
Of legitimate business. Weather con
dItions have improved. particularly as
regards the great staple crops. al
though considerable losses have oc
Cured in garden truck and other
minor farm products at the east ow-
ing to drought.
Labor controversies are still the most
disturbing factors In the situation. and
it is difficult to anticipate how far dis
tribution Of merchandise win be af
fected Structural material of all kinds
is moving slowly because Of strikes IN
the building trades, which are now ex
ercising more widespread influence
than other disagreements. AT the east
the trade situation is satisfactory as a
rule; Boston reports a brighter out.
look as to labor disputes aud favorable
weather for retail distribution of wear
ing apparel and other seasonable mer
chandise, carriage builders are excep-
tlonally busy at Philadelphia and the
hat trade At. Baltimore has been I'M
precedented.
Railway earnings thus far reported
for May were 12.S per cent larger than
last year and surpassed those Of 1901
by 25.6 per cent. Bank exchanges at
this city for the week exceeded those
of the same week in 1902 by 6.s per
cent and 1901 by 2S.6 per cent. At
other leading cities there were gains Of
a. and 36.5 per cent respectively.
spot Cotton sim Undated.
No disastrous collapse occurred in
the cotton market, but large operators
have transferred their attention to
more remote options, next crop deliy-
cries commanding remarkably high
prices considering the fact that the
outcome is by no means certain One
result Of this shifting process has been
slightly less imitation Of spot cotton, al
though it Is still obviously beyond the
reach Of mills making staple cotton
goods. Interior mills and foreign spin
ners are sending their raw material to
spectators here and at New Orleans.
Legitimate tade and industry vim
benefit most by return to normal
conditions
The outlook for winter wheat still
points to record breaking yield.
Aside from some pressure to cover ma
turing short contracts, nothing has de
veloped as to corn Receipts for the
week We're 3,55s,3T5 bushels against
1,413,360 last year. while Atlantic ex-
ports rose to 1035,SO3 bushels, com
pared with only 4s,051 a year ago.
Wheat arrivals were 2,133155 bushels
against 1927 1873. and exports from all
ports OF the United States reached
3,s6l 500 bushels, compared with $685..
042 a year ago.
Liabilities OF commercial failures
thus far reported for May aggregate
S9S0S, AS5, Of which S2.93T.952 were in
manufacturing, S5.6S1. AL iii trading
and S11s9092 in other commercial
lines. Failures this week numbered
2o6 III the United states against 1914
last year and Z in Canada compared
with 20 year ago