The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1904-02-13
FACTORS ARE WAR,
FIRE AND COTTON
All Have Adverse Effect on the
j. Markets
MANY ENCOURAGING SIGNS
Dun's Review States That the Dsas-
trous Loss at baltimore VIII Be
Offset In Part BY Demand
for Structural Steel.
MANY ENCOURAGING SIGNS

New York, February 12-R. G. Dunn &
Co.'S weekly review of trade tomorrow
will say:
War, fire and cotton were the adverse
factors Of the week, yet the country stood
the shocks remarkably well, and there are
numerous encouraging signs. To large
degree the outbreak of hostilities in the
orient and the collapse of the cotton boom
had been discounted and the disastrous
loss of the confagration was offset very
largely by the stimulus it will give to
many industries, notably structural steel.
In restoring Baltimore there will be
great activity in the building trades, while
large stocks of goods must be replaced and
orders filled by jobbers and manufacturers
elsewhere. Buyers are arriving in this
city in large numbers from all sections Of
the country, and there is a good demand
for all leading staple lines with urgent re-
quests for prompt shipment of cotton
goods. The labor situation throughout the
country is almost devoid of friction.
More or less traffic congestion results
from the weather, and this factor ac-
counts for the small loss of IL per cent
in earnings of railways during January.
Actual business is still restricted in the
iron and steel industry but there is more
confidence in the future. The extensive
starting of plants by the leading produce
ers suggest that foreign markets will be
entered more aggressively than ever be-
fore.
Structural steel prospects have greatly
improved because of the Baltimore fire,
as 1t is certain that an enormous ton
mage will be required to start the ruined
buildings AS to pig iron there is no i'm
provement. More metals have developed
irregular, but hard coal is in good de-
mand.
New England shoe shops are still fully
occupied onsspring lines and fall samples
but few additional orders for spring delv-
cry have appeared during the past week.
Trade in rubber goods Is less active. A
steady market continues for leather
stocks of union backs are light in the
hands of tanners and hemloek continues
scarce. Oak sole and betting butts are
weak but harness leather remains steady.
Hides are less firm, although large sales
have occurred at the concession.
It is not surprising that irregularity APP
pears in the cotton goods market in view
of the violent decline of the raw material
Forward business is completely democrat
lied, buyers naturally hesitating to place
orders on a market that varies 50 bale
in a single day. Spot goods have not been
affected to any appreciable extent, the
supply available for quick delivery being
Inadequate to meet the demand.
Producers are more willing to under
take future shipments than they were
before the reaction began but the indispo-
sition has been transferred to buyers VINO
were formerly the anxious ones. NILS
are more fully engaged and there Is
prospect of general revival OF IDLE ma
chinery If the raw material does not ad-
vance again. Woolens and worsteos are
in a somewhat better demand. Failures
this week in the United States are 22S
against 29s last week. For Canada they
were twenty-five against twenty-nine.