The San Francisco call., 1904-03-19
MINERS CHOICE
AFFECTS TRADE
According to Dun and Brad
street Action of COalmen
Means Much to Country
AVERTS BITTER STRIFE
Reports of the Commercial
Agencies Predict Increase
of Prosperity in ShortTime

NEW YORK, March 1S.-R. G. Dun
: & Co. will say tomorrow:
The improvement in trade and indus
try continues, the favorable reports
largely outnumbering the adverse in
! fluences. The most important event of
the week was the two-thirds vote by
the bituminous coal miners to accept
the proposed reduction in wages. This
will probably prevent a serious struggle
that would paralyze manufacturing
just when it is beginning to revive.
Complications have arisen in the local
building trades that retard structural
work, but a settlement is anticipated,
and the open weather is stimulating
outdoor work at other points. Distri-
button of Easter goods steadily expands
and dealers stocks are being depleted
because of conservatism in purchases.
This promises large supplementary job
bing and wholesale orders as the sea :
son advances. Railway earnings thus
far available for March show a de-
crease of only 8 per cent as compared
with last years figures.
Another week has brought ne check
to the progress in the iron and steel in
dustry. Increased strength and activ-
! ity are noted in the hide market, which
is significant at this time, when the
quality is least satisfactory.
! Failures this week number 229 in the
United States, compared with 220 last
year, and 81 in Canada, against % a
year ago.
Bradstreet's tomorrow will say:
| The backwardness of spring trade,
( generally attributed to the almost un-
/ interrupted bad weather. tinges most
reports from distributive centers, but
several Developments of the week have
been notably favorable. Chief among
these might be mentioned the arrival OF
much-needed moisture in the critically
situated Southwestern wheat belt, the
continued Improvement in the iron and
steel trade and the decision of the
bituminous coal miners not to strike
against proposed reductions of wages
Liquidation in the cereal markets ano
in cotton, accompanied by sharp price
breaks, is also generally construed as
allowing of improvement of the actua
consumptive demand. The railway sit.
uation shows gain
The recent heavy rains on the Pacific
Coast, while DANA ging because of large
areas inundated in the San Joaquin anC
Sacramento valleys. have done much
good in California as a whole.
The improvement noted in iron anC
steel has progressed still further.
Rather more unrest is noted in the
general industrial situation. but the
only actual outbreaks are those of the
building laborers at New York and o.
photographers. Those strikes, if con
tinued, are expected to injure the gen
eral building situation at New Yorl
and injure the paper trade Throughout
the country.
The demand for woolen goods from
manufacturers agents is reported dis
appointing, and wool sells more freely
Weather conditions are unfavorabl'
to the lumber trade at leading Eastern
markets, but prices are firm
Wheat Gncluding fiour) exports fo
the week ended March II aggregate
2,606, ,124 bushels, against 1,S34,6S2 bush
els last week and 1859 bushels il
this week last year.
Business failures in the United States
were 203, against 200 last week and 10
in 1908. In Canada failures for th'
week number II, against q last weel
and IA in this week year ago.