The Birmingham age-herald., 1903-08-08
puN,s REVIEW.

New York, August 7--R. c. Dun & Co.'S
 weekly review of trade tomorrow will
 say:
 The advices from nearly every section continue to show as favorable conditions as a year ago, and In many lines the volume of transactions has been in- creased. Jobbers report fall business op- ening with excellent prospects, and
 manufacturing plants are we'll occupied with the exception of cotton mills. Dis | tribution of merchandise is so heavy that railway equipment already proves mad
 equate, although crops are not the fac tor that they will be in a few weeks
 Earnings for July exceeded last years by 12.7 per cent, and those of 1901 by 2O.2 per
 cent. On the whole news from the farms
 Is less favorable. but no serious curtail-
 ment is assured and many sections make very bright reports. A decline of 1.5
 per cent in the cost of commodities dur ing July Is evidence that prices are less
 inflated since the change was mainly in
 meats and other food which have been
 ruling at abnormal positions.
 | Consumption of iron and steel is on a
 large scale, and In many departments the
 past week has witnessed the signing of
 numerous contracts, but there is a ten
 dency to delay purchases beyond early
 needs. This conservatism is not surprising | In view of the uncertainty regarding the | security and financial markets, together
 with considerable Interruption to struc- tural work through labor controversies The rate of consumption and the moder- ate size of orders however. indicate that stocks are running low. which encour- ages furnace men and mill operators to | hold quotations fairly steady
 A moderate tonnage of pig iron has been
 ordered and in partly finished products | the best feature just now Is the bidding | of agricultural implement makers. More
 pig iron was imported during July than anticipated and German billets are still
 offering at Pttsburg. but the domestic
 makers anonunce their intention of meet | ing foreign competition There Is less | pressure for tin plates. the peculiar wealth. CT extending the canning season and giv- | ing more time for delivery of cans. There | is full occupation In all branches of this
 industry and in merchant pipe also the
 mills have full order books for many
 month.
 No change is noticed in the attitude of
 cotton goods buyers who appear determ- | ined to postpone business until the re- l adjustment of prices for raw material | Owing to the gradual reduction In mill | stocks is similar disposition to delay ] taking contracts and the result is fur
 ther addicted to idle machinery. In view
 of comparative steadiness of retail prices
 and the activity in dry goods. trading 1t
 many points 1t is evident that stocks in
 other, than first hands were larger than
 was believed when the speculative ad- vance began Although jobbers report | bright prospects for fall trade 1t is re-
 markabe that they make so little effort to | secure forward deliveries. Irregular dis
 trlbution of orders Is reported in woolens.
 some lines being withdrawn. while others
 make little progress An increase In the
 number of buyers is encouraging and in
 the aggregate sales are fully up to normal. Healthy conditions continue in foot wear,
 some grades advancing in price. while | New England shops are not able to ac- | cept orders for delivery in several months. There were IFS commercial failures this | week in the United States against l90
 last week. l9l the preceding week and | 196 the correspondlng week of last year.