The St. Louis Republic., 1903-01-02


REPUBLIC SPECIAL
New York. Jan. 1.-R- G. Dun & Co.'S
"Annual Review" which will be published
Saturday. will contain the following com
preheusivc summary OF what has been ac-
.complished IN the year 1902 in the leading
trades and industries:
COAL STRIKE
One event stands out in startling dis
tinctness in the Industrial history OF 1902.
Never before was there. and. II Is to be
hoped, never again will there be. such n
labor controversy as the anthracite coal
strike.
Other struggles between labor and capital
have been accompanied by greater loss or
life and bloodshed. or more disastrous de-
struction Of property. but no other contro-
Yersy In this nations history caused such
q 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. capi-
tai and others will never DE even approNi-
mated.
Ii Is probable that consumers will be COM
PEELED TO pay large premiums over regular
prices during the remainder OF the winter.
while cost OF manufacturing plants has
reached an unusual position. International
trade has also been badly dtsarranged by
this factor: finished steel exports and coal
shipments being especially reduced, while
exceeding ,uil records since the steel indus
try becaT>,e fully established In this coun-
try. Instead Of the usual large net exports
OF these products. there were imports OF
over S5.09o.0co worth in one month.
,'. METALS.
Tho condition of the iron industry Is still
considered a safe barometer Of general bust-
ness, and despite the serious Interruption OF
fuel scarcity, the year 1900 must ba consid-
cred by far tho most prosperous ever expe-
rienced. while the outlook for 1903 is still
brighter. After the contracts had been
placed during the first few months. quota
lions became almost nominal, owing to the
utter impossibility OF making prompt deiiv-
cries. Pig iron was much the most violently
advanced as to price, and large premiums
were readily paid by consumers ms % who needed sa,si
Sl6so to 81, and foundry iron was even more
sharply advanced. 1t Is not possible TO ap-
ss ra s,
there would have been less imitation had
furnaces been able to offer supplies freely.
withstanding the fact that all but two OF the
twelve months opened with an active blast
furnace capacity exceeding all records in
preceding years. The top point was s52 a64.-
tons weekly on May /. and the Intervention
of the coal strike. was all that prevented
much higher records being attained.
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 tho various railway equipment and
structural materials. Although tracks. ter
ninals and rolling stock have all been large
while in the case of locomotives ana rails
the domestic plants have practically sold
their entire capacity for the year 1903. Track
elevation and erection of bridges and build
ings has been carried on to such an extent
that the structural market is almost AZ
oyersold. orders frequently going abroad.
hnG v,.Nf ,.fV sns N.1 th- h,e NJ
midsummer by any means. yet the closing
quotations are considerably above those
N Sopps5 ans been m
nary, and recovering about the middle OF
the year, :hsre was another sagging ten.
dency which brought almost the lowest
quotation during the closing months. Tho
net loss during 1899 was not nearly rs much
as the fall of cents in the preceding year
Lead has been devoid Of Incident ana prac-
tically without nuctuation.
COAL AND COKE.
During eleven months of 1901 exports Of
coal showed n splendid increase to $a, ,6t3. SIS
in value. as AGAINST sls iss SO In 1900: but 1909
export. declining to SS,70S.al4. with promise
OF a still more striking loss for the full year
other other hand. hand imports Of Of coal have become me
an important factor. In November alone.
being valued at 81, ,79a. while large guam
titles have been received since.
All records OF coke production have been
surpassed. but the railways have not been
able to handle II promptly. SO that Com
blast furnaces are idle through want OF fuel.
Prices rose sharply. until sales were record
ed at Chicago about SIS. and contracts run
above former prices. New ovens are to be
built, but most Of these plants are under
the control OF the steel corporation, which
will naturally I'LL Its own requirements be-
fore selling In the open market. Indepen-
dent ovens are also projected, and may
produce sufiicient competition to reduce
prices, which otherwise threaten to be sus-
LEATHER AND HIDES.
The rise in values Of most kinds OF leather
during l90l was followed by continued activ-
The leather trade. as & rule. last year was
satisfactory to tanners OF most varieties
although unusually high rates for raw ma
ma nuf.eturers in New England % did not turn turn
out quite as many shoes as the year pre-
vious but the falling, on In the East was
onset by an increase In the West. and IL Is
estimated that leather sales were fully as
large. Most varieties OF sole and upper
showed , little change IN prices during The
heing over cents pound on any kind
Union sole sold down to S cents last spring,
but p 70 S ssn,s during the and fall
again to g cents The demand for sole
lsather last year was more active than
Most varieties Of Chicago packer hides
sold at higher prices last year than have
ever been obtained since the Civil War. Tho
high-water mark was reached late In Aug
ust. when the most desirable hides Of the |
year were being offered. At that time Chi
caeo packer native steers sold at Is cents,
and spready natives and heavy Texas steers
Af Is cents Since the mi1dle OF September
however. there has been q steady decline
IN AL varieties OF packer and country hides
and late In December Chicago packer steers |
deciined to u cents, as compared with LA
cents early last January
.ForeiEn dry hides showed little change |
all of last year. and. though prices did MT \
reach the extreme point at which domestic /
green salted sold. there has been little II |
any decline during the last two months |
Arrivals Of River Plate hides were large. /
bat common varieties coming from other l
RaIta Of 6outh America and Central Amer