The Morris County chronicle. [volume] (Morristown, N.J.) 1877-1915, 1903-01-02
TRADE OF THE YEAR.
A Review Of Business Conditions
During 1902.
EFFECTS OF COAL STRIKE.
Il. G. DUN & Co. Summarize conse-
Guences of This Controversy.
State of Metal, Cereal, staple
and Stock Markets.

Lie REVIEW VIII silly
One event stands out in startling dis
tinctness in the industrial history of
1902 Never before was there and, it
is to be hoped, never again will there
be such labor controversy as the
anthracite coal strike. Other struggles
between labor and capital have been
accompanied by greater loss of life and
bloodshed or more disastrous destruc-
ton of property, but no other eontro-
versy in this nations history caused
such paralysis of industrial activity
and so great discomfort and loss to
the general public.
For five months this deadlock con-
tinued, closing mills and furnaces
through insufficient supplies of fuel,
while the actual financial loss of the
strike to labor, capital and others will
never be even Appropriated. 1t is
probable that consumers will be COM
PEELED to pay large premiums over
regular prices during the remainder
of the winter, while cost of manufac-
turing plants has reached an unusual
position.
International trade has also been bad
ly disarranged by this factor, finished
steel exports and coal shipments being
especially reduced, while imports of
pig iron and coal rose sharply, exceed
ing all records since the steel industry
became fully established i'll this coun-
! try. Instead of the usual large net
| exports of these products, there were
| imports of over $5,000,000 worth in one
! month
/ Metals.
/ The condition of the iron industry is
| still considered safe barometer of gen
eral business, and, despite the serious
| interruption of fuel scarcity, the year
/ 1902 must be considered by far the
| most prosperous ever experienced, while
| the outlook for 1903 is still brighter.
| Aside from tin plates, wire and tubes,
| there has been little reduction in prices,
most lines closing the year at about
best prices. Activity has been most
| conspicuous in the various railway
| equipment and structural materials.
| Although track, terminals and rolling
stock have all been largely extended,
there is still urgent inquiry, while in
the case of locomotives and rails the
domestic plants have practically sold
their entire capacity for the year 1903.
All records of cohs production have
been surpassed, but the railways have
not been able to handle it promptly,
so that Connellsvlle yards are now
1 overstocked. while blast furnaces are
4 rf fY,O TD,.fa
sharply until sales were recorded at
Chicago at about S15, and contracts run
ming through 1903 are reported at a
dollar above former figures New ovens
are to be built, but most of these plants
are under the control of the Steel cor
poration, which will naturally fill its
own requirements before selling in the
open market. Independent ovens are
also projected and may produce suffi-
cient competition to reduce prices,
which otherwise threaten to be sus-
tanned.
Cereal aRd Staple Markets.
From the producers point of view the
year 1902 was much more satisfactory
than any preceding year in the nations
|
grain was a bumper, estimates based
on the latest official figures placing the
corn crop at 2.542, 5t6,000 bushels,
wheat 620,S90,000 bushels, oats $685.
632, 600 bushels. barley 1876, 10000 bush
els, rye 33, 626, 600 bushels and potatoes
2S2, 10000 bushels. In every case eX-
cept wheat there appears large gain
over the preceding year, and few other
yields were as large. while the increase
in corn over the previous crop is placed
at more than billion bushels. Guam
titative results were not the most graf
flying feature by any means, however,
Tor In previous years of big crops the
accompanying low prices have often
left little profit for the grower, and in
some cases the surplus was used for
fuel A very different situation con-
fronts the present holder of grain.
Practical exhaustion of stocks at the
opening of the season and abnormally
brisk demands have sustained quota
lions at firm position.
Prices of meats We're considered high
in 1901, having risen above all records
since 1893, but the year 1902 carries
the comparison back many years fur
Their. During the first six months mess
pork ruled between SIG and SIT, while
the last six months maintained higk-
er average than SIS per BARREL Lard
ranged above 10 cents, and live hogs
reached 8. and the average of live
beeyes touched $G.40 per hundred
pounds At times speculation forced
quotations for pork products above the
position sustained by supply and de-
mand, but In the long run the natural
law prevailed, and prices We're held up
by the shortage of corn and big con
\ sumptive demand.
| Boots and shoes.
Trade during 1902 was characterized
| by generally steady market and
prosperous business with most produ-
GERS. The falling off in shoe shipments
from Boston from 1901 clearly demon
strated the fact that sales OF New Eng
land manufacturers We're not UP to
those Of 1901, but it is estimated that
this slight decrease iii the east was
made up by an Increased production in
the west. At the close OF the year
prices Of staple lines OF boots ana shoes
Were from % to 5 cents per pair high
er than early ia January. although man
ufacturers estimate that this increase
was not sufficient u cover the ad
Iva. Il ff4l..