The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-09-05
Other Industries in New Eng
land Hum.
TRAFFIC is CONGESTED
UOproftably Low Prices Have Had the Effect of
Curtaing Production In the Iron and Steel
lndustry---Big Fall Trade
Promised.
(By the Associated Press.)

New York. Sept. 4.-R. G. Dun & Com
panys weekly Review of Trade tomorrow
will say:
"a striking contrast appears when COM
parison is made with the corresponding
week last year. Prices were then tend
ing upward in many branches of indus
try, new business was coming forward
more rapidly than it could be handled and
IN the security market all records for
activity and high prices were being sur
passed. Later events have demonstrated
that the situation was unhealthy, ana
speculative excesses have been followed by
reaction and readjustment. Conservatism
was then the exception; it Is now the
rule. Prospects for steady gains and
their maintenance are brighter under the
present system. Legitimate trade will
continue to suffer from the losses in spec
ulation and the high rates for. CONNER
cial loans will initiate against Industrial
expansion, but in the long run larger
degree ofscaution should prove beneficial.
Buyers are still coming to the leading
markets in great number and testify to
the sound condition of business at the
interior. Manufacturing plants are busy
throughout New England, aside from cot
ton mills, and there is notable activity in
wearing apparel at the South, while pros
poets for a large fail retail trade are
bright everywhere. Already there Is traf-
fic congestion at several points, despite
the fact that crops have only just be-
gun to move, and railway earnings in
August show gains of 9.9 per cent over
last year and ia per cent over 1901.
Unproftably low prices have had the ef-
feet of curtailing production in the iron
and steel industry. More machinery will
be idle next week at the cotton mills,
the new crop of raw material coming
forward very slowly and available stocks
being held at prohibitive prices. Buyers
of cotton goods in the primary market
still adhere rigidly to the policy of COW
ering only immediate requirements, but
there is a perceptible increase in the
volume of business.
Failures this week are 181, against
200 the corresponding week last year"
COMPARATIVE COTTON STATEMENT.
New York, Sept 4.-For the week end
ing Friday, September 4, 1903: Net re-
cepts at all U. S. ports during week
1896; net receipts at all u S. ports same
week last year 109, ,410; total receipts since
September 1st 1924; total receipts to same
date last year go 148; exports for the
week 5,1O7 exports for same. week last
year 34,770; total exports since Septem-
Der 1st 4,353; total exports same date last
year 32,370; stock at all United States
ports 14S ,020; stock at all United States
ports same time last year 203 G57; lock
at all interior towns 6,S77; stock at all
interior towns same time last year 69,673;
stock at Liverpool same time last year
377 900; stock of American afioat for
Great Britain same time last year $4,000.
COTTON RECEIPTS.
New York, Sept 4.-The following are
the total net receipts of cotton at all
ports since September 1st: Galveston
953: New Orleans 29S; Mobile 229; Savan
nah 1856; Charleston 1872; Wilmington 81;
Norfolk 34 Baltimore 10; Boston II;
Philadelphia 1OO Total 4,234 bales.
MOVEMENT OF COTTON.
New York, Sept. 4.-The following sta
tistics on the movement of cotton for the
week ending Friday September 4th, were
compiled by the New York Cotton Ex-
change:
Weekly Movement This Last