The daily silver state. [volume] (Winnemucca, Nev.) 1903-1907, 1904-03-22
BUSINESS IS STILL
ON UPGRADE
Expa ,ding in Spite of Un-
favorable Weather
Conditions

trade noted a week or ten days ago
was Still more pronounced last week.
and the whole line of domestic com
meree showed more animation. The
weather was not of the best, and
storms, more or less severe, checked
the distribution of goods in many sec
tions. The leading feature, of course
was the panicky break In cotton. thai
r.ied with il over the dam the lead
ing bull operator. ID. j. Sully, whose
holdings were about 300000 bales. The
disaster occurred on Friday, and In
the frenzy to realize the days sales
were run up to about 100000 bales
Brokers wer astounded by the enof.
nous offerings, as the cotton came
pouring in from all quarters. 1t was
deluge of cotton, and the marke,
went down as If there were no bottom
to it, just what effect this great break
will have on the cotton industry re-
mains to be seen. bat the results vii
probably manifest themselves this o,
next week, as soon as the cyclone has
cleared off.
Another feature of the week was the
decisive vote by which the bitumi-
nous coal miners voted to accept the
proposed reduction without declaring
gene al strike. which would have
worked great mischief TO the manu-
featuring industries at the very mo-
ment they were commencing to revive.
Another important feature was the
continued improvement In the iron and
steel trades, which showed an expan
sion in the movement and a cores
ponding steadiness In quotations 70,
most descriptions.
Both OF these features are eneourag-
ing. as they presage more activity In
the steel trade. which has been Ian.
gushing Of late. ard which, when dull
exerts a depressing influence through
out the country. and vice versa.
third welcome feature was the moist
ening OF the great wheat fields of tn
southwest, where a prolonged seasoi
Of y weather was beginning to dam
age the crop. This was partially offse.
toward the close OF the week by dry
dust storm which swept over western
Kansas and Oklahoma. doing more OF
less injury to the growing plant IL
that region.
Other features worthy of mention
were the continued liquidation in pro-
visions at Chicago. whe the outsiders
realizing that they have been quietly
loaded up by the great packers. hav.
begun TO sell. the liquidation result
ing a weaker market for all lines OF
cured meats. Hides are reported firm
er and more active. but the demand
for woollen goods from manufactur
ers is. d sappointing, though wool Is
selling more { eely. The eastern lum,
ber trade is reported quieter. owing ["
the unfavorable building weather, bu
the different markets are general,
firm.
The tendency in wheat and corn has
been toward lower prices. and whea
has been generally apethetic and fea
tureless all over the world. except a
Chicago. Here the market has beer
lively with sharp speculative fuctua-
tons for some little time. This activ.
ity seems to be almost wholly due to
the Armour deal. owing to its purely
local character. but Armour is nov
SAID to be out of it, and preparing &c
take a season OF rest and recreation
In Europe. The fact Is the world Is
abundantly supplied with wheat. and |
the markets I'm all countries are tame |
and featureless In consequence.
The usual weekly statements exhibit
nothing particularly different from the |
conditions which have prevailed for |
several months. The bank clearings |
last week showed a loss from the COP
responding week In 1908 of las per cent |
with the largest cities about evenl, !
balanced in the gain and loss column. |
New York fell off 229 per cent, and |
Pittsburg 30l per cent. while st. Louis |
gained 1858 per cent. Minneapolis. the |
seat Of the -four industry. 20.S per cent |
and New Orleans. the great cotton |
mart. 556 per cent. The large increase |
al New Orleans Is not surprising, a
the current of wild activity In cotton |
there would naturally run up the vol !
ume of clearings; but a gain of 20 per
cent at Minneapolis. which has been |
sending in complaints of stagnant |
market for -four. with the mills pre-
pairing TO close down II the inquiry |
does not improve. is rather paradox |
cal The failures of the week were |
229. against 220 last year, but with tina |
single exception of the Sully collapse.
were not OF serious Importance.
Apathy still prevails In Wall street. |
Speculation is at a low ebb. and the /
break In cotton. with the failure of Its
bull leader, is regretted by the banking /
and other financial interests. who feai
that it will give the public another
fright and effectually check any fur
ther aggressive BUN movement In the
stock market for the present. Consid-