New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-11-21
CONDITION OF TRADE.


Labor organizations are wisely accepting reduc-
tons la wages without controversy. which TenoNsS
one threatening industrial factor and ~ Sc, a.
Dut IN the steel industry there IS IIte $500 ~
decreasing despite optimistic reports OF more
building permits issued last month IMAM year AZ"
disc usually in brisk demand at this season T,,ic
reflected in restricted actlviIy at H. ,t tbe com
plant of traffic congestion that was 81, utQtt,I.
hsher than in November date in 1870 testifyins
to the increase in facilities Failures are f mi
the monetary pressure ts being Teiieyed oy MI
blIIion i'm vaults Of this government has estabiis ne
a new high record over S65:0o,0Jl Ae;lcklItIila
commerce slows large gains. Contraction Of speou-
- D9 &c. 80 Y iG which we're 81 per cent
other leading cities the average declined only IS
week has passed without any further material
reduction prices Of iron and steel and setlIi ~
In the trade favors stability the present POSITION
tbe ord oF H. - If il the sea son Hnen qii-t
conditions are customary. Buyers have controlled
now prbe eeomng Equally IS Wiling to await develop
ments as to the domestic trade CONCESSIONS sI are
cries. Much discussion regarding prices Of steel
have placed orders Tor several thousand tons.
Meanwhile. foreign markets are sought Etth more
iteved that American p cduceTs will be IN a posi-
wage W2R 70 c1s viii sn in forcd Of output
at certain mills will probably be rsmoyed d a1a
crations Machinery and hardware have felt the
lsCtion less thus far than structural material and
ner heavy shapes. while shipbuilding plants
and machinery for the Panama Canal are encOuT-
aging features Of the future. Minor metals are
quiet aside from some speculs tive fluctuations at
London.
''Bradstreets" says:
Colder weather the greater part Of the cOun-
try has greatly stimulated retail trade. and. incl
dentally, quickened jobbing demand in seasonable
lines. In some sections inquiries for holiday goods
exceed last years the feature being the high grade
of materials taken. Interior retailers helped by
propitious agricultural conditions. reported
meeting obligations more promptly. Farming in
terests are apparently I'm good financial condition,
inference that seems to BE evidenced by the
fact that they display unwillingneSs to part with
their surplus products at anything less than what
they deem satisfactory prices. though the move
ment Of currency to the interior continues but on
a smaller scale than for some weeks past South
ern conditions especially good. or. as cOmpe-
tent special correspondent observes. they are as
sound the prOverbial dollar.
Railway earnings still good. the increase in
receipts for the first half of November being
81 per cent while the net for September. exclusive
OF coal roads advanced per cent, moderate
increment, to be sure. but IL must be remembered
that operating expenses were II per cent heavier
than in the month in 1902 Bank clearings.
though below last year. owing to the elimination
of excessive speculation. are. all things consid-
cred rather satisfactory, about twO-thirds of the
clearing houses OF the country reporting figures in
excess of those for last year and current business
failures are not very important