Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1903-08-06
BUSINESS MOVES
ON ITS OWN AXIS
Speculative Failures Have No
Effect on Legitimate
Trade.
ALL HANDS ARE PROSPEROUS
Retailers Report Good Sales in Sum.
mer Goods, While Labor Is Well
Employed Throughout the Country
Failures Remain About Normal

New York, Aug. 3.-"Further evi.
ience of the solid basis upon which
legitimate trade is established
has been furnished by the
squanimity with which commercial
and financial institutions regard the
recent speculative collapse Much
more harm has been done to the coun
try's manufactures and trade by the
inflated prices of cotton than by the
depression in stocks. Reports are al.
most unanimous as to the heavy dis
tribution of merchandise, and this is
shown statistically by the increase
n railway earnings thus far reported
Tor July, 12.5 per cent over last years
and 23.l per cent above 1901" accord.
ing to R. G. Dun & Co.'S weekly re
view of trade. Continuing, the report
says:
Retail Trade Is Heavy.
"As a rule retail trade in summer
fabrics has continued heavy. and job.
bers report fall business opening well
Labor is well employed throughout
the country except when voluntarily
idle.
Agricultural news is favorable For
eign trade is maintained, both exports
and imports from this city showing
gains over the corresponding week last
year.
Moderate improvement is noted in
the tone OF the iron and steel indus
try. There is striking absence of urg
emit orders, however, especially in lines
outside of railway equipment. There
Is less anxiety regarding the danger Of
over-production, although dozens OF
new blast furnaces are in course Of
construction, and an active capacity o.
twenty million tons annually is now
assured.
Foreigners Bid.
Gables report spirited bidding BY
European rail mills for large contracts
In America that home producers can.
not consider. owing to their over-sold
condition. Coke is moving freely, but
the Alabama coal strike still disturbs
furnacemen. Another decline has
taken copper to about 13 cents.
Textile industries are still waiting
for readjustment or evidence of per
manence In the present position OF
prices for raw material.
"In cotton goods orders are placed
only upon condition of prompt deliv
cry, yet it is a significant fact thai
stocks do not accumulate at the mills
which are steadily reducing their per
centage of idle machinery. Conse
quently prices are fully sustained
rendering a good profit TO the manu-
facturers who hold raw material pur
chased at normal prices.
Buyers in Evidence.
aside from a few of the highest
grades, new lines II lightweight
woolens for next spring are fully
opened. Prices are about the same
as a year ago. Buyers are numerous
in the leading markets. taking wooler
goods freely, and showing a prefer
ence for the fancy grades. Footwear
factories are crowded with work, or
ders coming in briskly for fall goods
and western jobbers have placed ad
ditional contracts for next spring
Hides again averaged much lower
and this continued weakness encour
ages shoe manufacturers to postpone
purchases of leather in expectation
of better terms.
Failures were 100 in the United
States. against 1913 last year. ant
pinotaan In Copada noro M rod will
eighteen a year ago"