The San Francisco call., 1904-02-27
SPRING TRADE
IS BACK v Ard
Business Proceeding on Con-
seryative Basis So That a
Setback May Be Avoided
VIOLENT FLUCTUATIONS
Prices of Leading Commodi-
ties Indicate a Situation
That Is Due to Speculation

NEW YORK, Feb 2s-R. G. Dun's
Weekly Review of Trade tomorrow
Will say:
In addition to the interruption of a
dustries have again suffered because
of severe weather and much outdoor
work was forced to await more favor
able conditions. Development of spring
trade is naturally slow, but this may
be fully made up as the season ad-
vances. Business proceeds on a con-
servative basis that promises immunity
from the excesses that precipitated the
recent setback. Manufacturing plants
are gradually restoring idle machinery
and there is more disposition to antici-
pate future requirement. Staple COM
modities are still inflated by war news
and manuipulations, making it ex-
tremely difficult to ascertain the actual
legitimate situation
Aside from some special pressure to
sell foundry iron in order to meet pay
ments the market is steadily expand
ing.
Violent fluctuations have continu. d
in the great staples, legitimate infu-
ences being supplemented by manipu-
latlon and realizing sales precipitating
reactions. Wide changes from day to
Cay in the leading commodities indi-
cate an unwholesome and undesirable
situation that is due to speculation and
that is calculated to check or divert
consumptive demand. Wheat led the
advance and was closely followed by
the minor cereals, but -four was less
erratic and as a result exports were
mainly confined to the latter
Failures this week numbered 24O in
the United States against 211 last year
and twenty-five in Canada. compared
with twenty year ago.
NEW YORK, Feb. 26.-Bradstreet's
this week says: Spring trade is assert
ing itself despite abnormalIy cold
weather, heavy SHOWS or congested
transportation facilities in widely sepa-
rated sections. Where weather condi-
tions have been favorable, as from the
South, distributive trade has been good.
Buying is generally classed as conser-
vative. Manufacturing industry shows
some enlargement of activity, especial
ly in glassmaking and iron and steel.
the production of pig iron being nearly
double that of two months ago
Failures are few in number for this
season of the year, considering the be-
lated spring season. 1t is still too early
to report upon the winter wheat situa-
ton, but advices so far are encouraging
in the Southwest, absence of snow COW
ering or lack of moisture being reported
in Missouri, Oklahoma and Kansas.
New record prices for the year and
the highest, in fact, since May, 1898,
were reached in wheat this week. Flour
prices reflect the strength. and corn
and oats have sympathized, as have
also nearly all kinds of products except
eggs which have broken sharply, the
advance in pork being to the highest
point. The Eastern war also affects
products, such as tea and camphor,
scene of hostilities
On the Pacific Coast San Francisco
reports increased orders for hardware
and groceries. Salt Lake City reports
improved trade and mining interests
buying machinery freely.
War talk is still an influence tending
to strengthen food products, but to de-
press raw cotton. Collections are still
unsatisfactory at most Northern mar
kets. Railway earnings are not as en-
couraging as in the past, owing partly
to the congestion growing out of block
AIDED shipments, but partly to cutting
of grain freight rates.