New-York tribune., 1903-03-23

exchange with a probable cessation OF borrow
ing abroad. If money market conditions per-
nit there will he another season OF hquldatlns
this foreign Indebtedness, and It would not be
surprising if moderate gold exports were ar
ranged. Present sterling rates here and higher
rates on London at Paris do not suggest an
early movement on the triangular plan.
A very heavy retail trade is In progress ali
over the country. and unusual activity Is re-
ported in jobbing and wholesale lines in prepa-
ration for spring and summer distributor
Buying Is on a large scale, particularly IN the
agricultural districts, where profitable prices
have put consumers in a strong position. Out-
side of this city. where the speculative ractor 10
potent bank exchanges show a splendid gain
over previous years, and this measure OF the
volume of business is not TO be disputed. There
"a stfIl soma complaint as to collections, particu-
Iarly from sections where heavy roads have m
terrupted business but, on the whole, payments
are prompt for the season. Machinery 1mpl7
ments, building material and kindred lines are
responding to the warmer weather CoaI IS no
longer scarce: in fact, accumulations are ap-
pearng but Sit Is doubtful whether the spring
schedule of prices will show the usual decline.
The railways making better deliveries OF all
forms of merchandise. and many orders are
being placed that were held back because OF the
transportation uncertainties. The opening Oh
navigation will bring an enormous lake trafnc
at the North The only cause for conservatism
in making plans for increased business Is the
unsettled state of the labor market
In the sreat staples there is a somewhat un-
usual condition: exports Of cotton and corn are
larger than receipts. and supplies are conse-
ouently reduced. The gradual increase IN mar
keting of corn however promises relief, and in
the light of an unprecedented yield 1t Ia not sur
prising that another fall in price has occurred
uyjth there
decline but in comparison with normal seasons
* cents is still a high figure. Wheat In the
ground has made rapid progress-so much 30
that some uneasiness Is felt In case OF = tate
frost Shipments abroad are very Irregular the
last week falling far short Of the movement
year ago. while good gain was reported IN the
preceding week 1t is noticeable that the outgo
Of -four is much better maintained than snip
roents Of wheat, which is desirable. since 1t re-
tains the profit Of milling in this country. Meats
ara still strong receipts failing to reach ex-
nectatfons and Western packing OF hogs Is re-
stricted. Cotton has advanced after brtef sea-
son of steadiness at 10 cents for middlng up
lands Floods at the South are retarolns mar
keting Of the old crop. and also delay planting
the new.
Manufa cturing plants are we'll occupied, as
ruIe EXCEPT where strikes are in progress. rex
tile mills have a fair amount Of business on
though some cancellation of contracts for men
wear woollens has brought an element OF un-
certainty into that division. AS this applies 10
distant deliveries only, the current condition Is
not affected adversely. and jobbers are urging
prompt shipment. ForWardings OF footwear
from Boston for the last week show q STRIKING
increase over the corresponding week last year.
evidencing the urgency of dealers VINO are
stocking up for the Easter trade. Several
grades Of shoes have secured advances equiv
aIent to the earlier gains in other lnes' ana the
whole list is now in a strong position. Flnolng
increased frmness instead Of expected conces-
sions buyers are more eager to place contracts
This additional business has sent shoe manu-
facturers into the market for leather, giving ao-
ditional strength to both sole and upper STOCK
rrba new iron ore season has opened with a
br;sk demand and throughout all branches OF
the iron and steel industry there is whole
some demand.