The Washington times., 1904-01-15
BRIGHT SPRING
TRADE OUTLOOK
After the Shortest Depres-
sion on Record.
EMPLOYEES RETURN TO WORK
Ten or Fifteen Thousand Industrial
Workmen Accept Lower
Rate of Wages.

NEW YORK. Jan Especial dis
patches from correspondents Of the In
ternational Mercantile Agency through
out the United States and Canada re-
garding the state OF trade are sum-
married. as follows:
Tho event OF the business week has
been the discovery Of a greatly inn
proved demand for pig iron and wire
nails and for some forms of steel.
notably sheets. bars and scrap. The
former is shown by the blowing in OF
furnaces at important Northern pro-
ducing centers where large interests
have been idle for some months. In
creased demand for steel products has
started some Of the largest plants and
prices for varieties mentioned are 81
higher per ton. Wire nails have ad-
vanced still further.
Shortest Depression Recorded.
The significance of It all is found in
a rise in the tide OF demand after the
shortest depression on record between
reaction from a boom and signs of ac-
tive recovery. Ten or fifteen thousand
more Industrial employees have gone
rack TO work within a week, but in most
instances at lower rate OF wages The
drag in the steel rail market results
from unwillingness of railroad COM
panies to pay $ a ton more than leading
interests are offering rails abroad.
IN New England it is still problemati-
cal how much the output of cotton
goods will be curtailed by the high price
OF cotton. The leading New York cot
ton staustician confirms the recent Inter
national Mercantile Agency report OF an
indicated crop Of about O.5Oo. 900 bales
he bulls insist the output will not ex-
coed $4,000.
Spring Trade Favorable.
Spring trade outlook in staple lines is
unexpectedly favorable Even In Bos-
ton, where merchants are exceptionally
conservative. some say they expect sales
10 exceed those of a year ago At Chi
cage orders compare favorabIy with last
year, and at st. Louis they exceed those
Of the like period OF 1903. At both
Pittsburg and Philadelphia business mer
report good effect from the improved
situation in iron and steel, orders having
increased since factories and foundries
have started up. Textile stocks at Phil
adeiphia are light. and increased outputs
are predicted.
most noteworthy special return to
the international Mercantile Agency is
that the volume OF railway traffic al
Chicago is per cent larger than a year
ago, with slightly increased earnings
At Pittsburg the roads are carrying Is
per cent less than IN January last year.
Confidence Everywhere.
Duluth merchants look confidently
ahead to a large spring business Min
neapolis and St. Paul report jobblng sat
isfactory for the season. Louisville
traders are discounting bills freely. Dry
goods sales at Baltimore are OF conserv-
ative volume owing TO full prices
Continued cold weather in the Cana
dan Dominion, and the fact that retail
stocks carried over into the new year
are lighter than previous years. has
caused an active demand for seasonable
goods. and wholesalers at Toronto and
Quebec report large orders for spring
delivery. Railroads report a decrease IN
earnings from 1903 for the first week ir
the year. The general tone OF trade Is
healthful. and prospects are for a larger
spring business.