Waterbury evening Democrat., 1904-03-19
CONDITION OF TRADE
The Sully Failure Without
 Serious Effect.
COAL MINERS WItL NOT STRIKE.

COAL MINERS WILL NOT STRIKE. Vote to Accept Reduction In Wages
 Averts ParaIyztns strugsIe-New
 York Building Trades Trouble
 will Probably Bc Settled.
 NEW YORK, March 1e.--R. G. Dun & Co.'s weekly review of trade says:
 Improvement in trade and industry continues, favorable reports largely oft numbering adverse influences. T2la most important event of the week was the two-thirds vote by bituminous coal miners to accept the proposed reduc- tion in wages. This will probably pre- vent a serious struggle that would par alyze nlanufa curing just when it is be- ginning to revive. Similarly 1t is ex- pected that tin plate workers will agree to lower scale, which will reopen idle
 mills. Several minor labor controver- sies are progressing less satisfactorily. Revival of activity and higher level of prices in the stock market indicated that the Northern Securities decision
 was not unexpected. Complications have arisen in the local building trades that retard structural work, but set clement is anticipated, and the open weather is stimulating outdoor work at other points.
 The Sully failure in the cotton mar ket was without serious effect.
 Retail distribution of Easter goods steadily expands, and dealers stocks are being depleted because of conserv- atism in initial purchases. This prom ises large supplementary jobbing and wholesale orders as the season ad- vances. Traffic delays are still causing complaint. and the movement of ex- hibits to the St. Louis exposition pro vides temporary feature of impor- tance Railway earnings thus far avail able for March show decrease of eight-tenths per cent as compared with last years figures. Money is abundant, and rates are low, gold exports to South America being partially offset by receipts from Japan. Bank exchanges at this city for the last week were 25.1 per cent smaller than year ago and at other leading cities 1.9 per cent less. Lower quotations are recorded In all the markets for the leading farm staples, greatly improving the pros pect for normal, domestic consumption and shipments abroad. No develop ments are reported in the cotton situa- ton, but heavy liquidation of option contracts produced reaction in prices and considerable activity in specula- ton. Brighter crop prospects for win ter wheat started decline at Kansas City, which was quickly communicated to the other markets. Corn and provi- sions sympathized to some extent. h. terior receipts of wheat were 3,409, ,O95 bushels, against 2,S84,317 in the same week last year, and exports were 1,772,712 bushels, flour included, com pared with 2,026, ,356 bushels a year ago. and 4,657, ,625 in 1902, when the movement was more nearly normal. Arrivals of corn. at primary markets were only 2,4S4,11 bushels against 3,463 ,OOO, and Atlantic coast shipments amounted to 1,4S2, ,609 bushels, com pared with 3,344,3 ,322 in the same week last year.
 NEW YORK, March 19.-DanieI ] | Sully, the cotton bull leader, has sus pended Immediately after the suspen sion was announced there was a panic on the floor of the exchange, in which cotton. dropped from 250 to 2S3 points
 Members of the firm, employees and counsel for the company were busy at
 the company's offices far into the night
 trying to get affairs in such shape that a statement could bemade public All inquiries brought the same answer that not until the firms accounts had
 been gone over could any information be obtained.
 MT. Sully, when seen for moment
 said that he wished it distinctly un | de'stood that his firm has not made | an assignment He declared that when 1 the firms affairs have been untangled | he vii. be able to pay dollar for dollar. { To do this he must have time to realize, 1 he said. He said the firm will undoubt l edly resume business.
 l With Mir. Sully was George H. Nc. l Fadden of the Philadelphia firm of | George H. McFadden $ Bro, who l is said to have sold much cotton to MT. l Sully. He was said to be assisting
 in the preparation of the schedule for l settlement.
 A member of the Cotton Exchange l estimated Mir. Sully's total holdings at
 100000 bales. on which his loss in the
 last week or ten days probably was in
 excess of $5OOO,OOO.
 l Sully is also member of the Stock
 Exchange, and his failure was announc- l ed there. The announcement came aA