Show ALL THINGS POINT o oro TO ro PROSPEROUS IRA ERA IRAI I 4 Business Conditions of Country Still Stin Looking Up HR a aS S 4 NEAR RECORD FIGURES 1 t MA ACTIVITY IN IU 5 OF MERC I to toI I New York Tork April 12 R G DUlls Dugs Weekly Review RevlOn of Trade will say gay to tomorrow tomorrow tomorrow morrow The tone of general business j I has been bettOr better be t r this week Market ac activity act t in the distribution of merchandise dise is reflected in the gain of per percent percent pe I cent in bank clearings cJ at New York compared with 1900 and per cent ecu i over 1899 with gains of and 1 S for the same period at leading cities clUes outside New York Even the fhe textile markets show pronounced gain in ac and the metal division has taken pig iron production to near record fig ures tires and some dealers do not see how production of or partly finished forms this thi year is to be made to meet the demand The government report of the condi tion of wheat on April 1 Is the surest possible basis upon Which expectation of continued commercial prosperity could be founded Stringency of money is largely local in New York and does not alter reports from most of the larger cities of favorable conditions in collections Railroad earnings In March were 74 per cent larger than last year and ncr Der cent over o r 1899 1399 according to practically complete compete returns Pig iron production on April 1 ac a cording carding to the Iron Age was at the ie rate of tons weekly This quan has been exceeded twice in the history of the industry on Dec 1 1899 when tons were produced and on Feb 1 1900 when the output was tons The remarkable feature of the situation is the decrease of tons in furnace stock during March in i I the face of this enormous production while in six months the loss Joss in supplies amounted to tons tone Quotations are generally steady for all forms ex cx e plates on which 2 a ton more is demanded without restricting pur purchases purchases chases Contracts for delivery of pig Iron dont TS h a rule extend beyond ond this month and furnace stocks cannot be expected to continue decreasing unless new ew business comes corpes forward for many furnaces have nave into blast since month opened and production on May 1 I will probably be at a new high record Speculation has been unusually heavy in n food stuffs the local market lug ing ng over bushels of wheat daily Prices receded rec ded sharply from the theop top op point of two weeks w eks ago wheat los ing ng about 4 cents cent for spot Realizing sales were accelerated by y expectation of a high percentage of winter wheat condition in the official report Two elements of ot strength appeared to check the decline and caused some recovery Insects were reported numerous in southwestern southwest rn section and foreign buy bu ing lag was sufficient to make Atlantic ex exports exports exports ports flour included 6 O bushels I in two weeks against 3 last year and in 1899 In silk goods more activity ac is report reported ed and another trifling advance oc occurred curved in raw materials Failures for the week numbered in the United States against last year and in Canada against last year |