Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-10-10
THE WORLD OF TRADE
Trade Conditions Still Irregu-
lar With No important
Developments
BUSINESS OF FAIR VOLUME
The Backward Season, Together With
Interference With the Crop Move.
ment and Collections, Make It Less
Active Than a Year Aso-Among the
Leading Industries.

New York. Oct. 10.-R G. Dun &
company's weekly review of trade to-
day says:
There have been no developments of
Importance in the commercial world
AS rule there is more caution In
making contracts, especially among
manufacturers. Jneasiness regard
ing the financial situation reeedes as
the season advances without produce
Ing any monetary pressure in connec-
ton with crop moving. The proposed
reduction in pig iron output has been
endorsed by all leading producers.
steadying prices just when changes in
freight rates started another reduction.
Other manufacturing news is favorable
except where the raw material markets
are unsettled, or labor struggles cause
trouble. Suspension of an. iron plant
was attributed to the latter cause, and
the movement. of cotton at New Orleans
also suffered because of strike. Trade
locally is quiet: preparations for cleo
ton, with unreasonable weather hav-
ing an adverse effect. Railways are not
yet seriously congested by the crops,
yet there Is some delay In traffic and
earnings for September are ST. per cent
larger than last year. Latest returns
of foreign commerce at this port are
unsatisfactory, exports showing a loss
of S1,1SS.646. compared with the same
week last year. and imports decreasing
s2577,124
Reduced dividends and curtailed pro-
duction in the iron and steel industry
show that conservatism Is increasing.
Yet, there is nothing alarming in the
situation.
Railways are seeking much new
equipment, giving this branch of steel
products a better tone than other de-
partments, while more bridge contracts
are being placed. Plates are fairly
steady but in bars and sheets there is
no activity. Lower freight rates made
it feasible to reduce prices OF pig iron.
particularly at the south Textile man
ufacturers report no increase in bust
ness and jobbing trade is less active
than in the busy weeks Immediately
proceeding. Another sharp fall in raw
cotton has not stimulated makers OF
goods nor are buyers supposed 20 be
any less conservative. A generally
lower level Of quotations for the lead
ing farm staples was most encouraging
1t Indicated that supplies were coming
freely to the market and testified to
the growing confidence in ample crops.
A moderate recovery late in the week
vas natural as fluctuations became
sufficiently narrow to bring out many
buyers who feared the violent price
changes OF Iast months.
Failures this week numbered 239 In
1.-The United States against 254 las. year
| and II In Canada compared with Il a
| year ago.
Bradstreets Review.
| Bradstreet's today Will say.
| Trade conditions are still irregular
| Business is of fair volume, but not so
active as a year ago, partly because Of
| the backward season, heavy rains In
terfering with crop movement and coll
| lee tions; vexatious labor troubles. past
| ana present discouraging building OPP
erations, and the spread OF the con-
| sentative feeling among buyers based
| upon the stock market liquidation and
| the feeling that high prces of many
1 pTO0uCtS VIII lcIii II ~ iido itcs ga Sos's
done so, to automatically check con-
/ sumption
Many underlying conditions are, how
! ever. still favorable. First in impora-
ance should be reckoned the decidedly
better tone of advices from the corn
/ crop. which has developed a iarga*
/ yield and better quality than was
earlier deemed possible. Special in
/ curry by Bradstreet's points to yiels
OF at least 2250.000.000 bushels Of o
grade generally far superior to that Of
a wear ago Lower prices for this and
other cereals and for cotton, whose
WELD will be smaller than seemed pro-
| bable a month ago. seem likely TO help
i-our backward export trade In these
| products and improve the foreign ex-
! change outlook. Collections, too, tho
| backward, are improving as the grain
! and cotton movements expand. The
/ volume of business doing by the rail-
| roads is excellent. tho the familiar car
! shortage trouble is looming up despite
! improvements in terminal facilities.
| The growing weakness in pig iron, tho
| on the face of it unfavorable, Will have
the effect of shutting off production
10 the extent of 100000 tons for the
! last quarter of the year, and of end
| ing foreign imports. TWO prominent in
| dustries. those of shoe manufacturing
| and of anthracite coal. are doing well,
tho margins of profit are smaller.
When / proposed she said to me: