The Birmingham age-herald., 1903-07-18
TRADE PROSPECTS
 ARE VERY HOPEFUL Conditions Outside of Specula- tive Region Satisfactory PIG IRON STILL UNSETTLED Season of Uncertainty Exists in Cot ton Goods Market-The Perfect
 Weather Helps Crops and
 Stimulates Retail Trade.
PIG IRON STILL UNSETTLED

New York July 17.-R. G. Dun & Co.'S weekly review of trade tomorrow win say:
 Conditions continue satisfactory out side the region Of speculation, many re- ports indicating further improvement. During recent months the two disturbing factors have been labor controversies and weather conditions, but each week has bought better things in these two re- spects. until now the outlook contains much that Is encouraging. Crops are making rapid progress and the army or unemployed is diminishing. Railway traf- nc is heavy. earnings thus far reported for July exceeding last years by l36 per cent, and those of 1901 by 19.2 per cent Re tail trade in seasonable merchandise is fully up 10 the average and there is less than the customary midsummer quiet among wholesalers. while the preparations of jobbers and manufacturers indicates confidence in a large fall business.
 Unsettled conditions still exist in forge and foundry pig iron markets while Bes- eemer Iron is only barely steady. The chief difficulty appears to be the inclina- tion of prospective purchasers to wait for the lowest possible quotations. This con dition appears unusually aggravated in the present instance Current eonsump- tion is heavy and the delay Is only in connection with distant deliveries. Struct- ural steel begins to reflect the settlement of labor troubles in the building trades. but several important undertakings have been postponed until next year 'Mer- chant steel and pipe are in better demand. Steel rails are sold well into 1904 and other railway equipment is still one of the best features in the industry. South ern iron furnaces and steel mills are af- feeted adversely by the coal miners strike although there is belief that set tlement will not long be delayed.
 Uncertainty in Cotton Goods.
 It is a season of uncertainty in the manufacture of cotton goods and noth ing in the nature of improvement can be expected until the artificial position of the raw material is radically altered Supplies of cotton goods In first hands are low and there is no effort to make spot sales. Buyers fill their require ments for immediate distribution, but In no department of this great industry ss there any inclination to anticipate needs of the near future. As supplies diminish there is a corresponding stiff ening of quotations.
 Mills are steadily eurtaiing produc- 4ion, both here and abroad. New light weight woolens are being opened with fair results only, buyers exhibiting no anxiety regarding the future. Silks are firm owing to curtailed production and the high prices commanded by the raw material Western jobbers are operating freely in the Boston footwear market both on contracts for spring goods and supplementary fall orders. Eastern wholesalers are also purchasing addi- tonal fall supplies and New England factories are fully occupied.
 Failures this week were 213 in the United States against 213 last year and IS in Canada, compared with 20 a year ago.