A YEAR OF WEATHER AND TRADE. 445 



Mississippi and Missouri valleys, including the middle Eocky Moun- 

 tain slope and the Ohio Valley. There were also very heavy rains in 

 eastern sections about the middle of the month. The exceptionally 

 cold weather immediately stimulated retail trade in winter goods in 

 many places. Eggs, poultry and potatoes advanced. In the New 

 York stock market, the cold gave strength to the anthracite group of 

 railroads, because it was certain that coal consumption would increase 

 at once, but floods in the mining regions of Pennsylvania curtailed the 

 coal supply, interfered with transportation, and cut down railroad 

 earnings. Building was interfered with by the cold, and the receipts 

 of wheat fell off because of the interruption of railroad traffic. As 

 regards railroad earnings for 1901 as a whole, the southwestern roads 

 were unfavorably affected by the poor corn crop, and the southern 

 roads by the late cotton crop. 



January was mild and generally dry, especially during the first two 

 decades, but closed with ample snow covering over the winter-wheat 

 states. Eetail distribution of heavy clothing, boots and shoes, and 

 rubber goods, was checked by the mild weather, and the loss of snow 

 retarded lumber operations. The high temperature, however, stimu- 

 lated the demand for spring goods at wholesale, and building, and the 

 demand for building materials, were active. The snows of the end of 

 the month were favorable for winter-wheat, and furnished water for 

 cattle, and therefore improved the tone of the stock market, especially 

 in the case of northwestern securities. But these same snows inter- 

 fered with transportation interests and with trade, except that in winter 

 clothing and rubber footwear. The future, as one trade journal had it, 

 profited at the expense of the present. 



During the first two weeks of February, snow obstructed traffic by 

 railroads, cutting down receipts of live stock, corn, wheat and coal, and 

 causing the banking of mills and furnaces because of lack of coal. 

 Country roads were blocked, and country merchants were kept away 

 from town. This increased orders by mail. Farmers could not 

 reach their banks, and this interfered with the free circulation of money. 

 During the second week of February, it was reported that as a result 

 of the long drought in the southwest, water was scarce, and railroads 

 had to haul it a hundred miles in places. At St. Louis, 'local retail 

 trade was decreased by reason of the dangers of ice-covered sidewalks 

 and streets.' Loaded car movement at St. Louis and Indianapolis 

 was below that for preceding years, snow blockades throughout the 

 west and north having compelled the railroads to reduce the number of 

 cars per train. There resulted a notable decrease in Atlantic exports 

 of flour, and a crowding of side-tracks at division points with loaded 

 cars waiting to be moved. 



