The San Francisco call., 1904-09-17
PROGRESS SLOW
But DEFINITE
Low Temperature and In
jury to Crops Without
Much Effect on Business

NEW YORK, Sept. 16.-R. G. Dun &
will say:
Industrial and commercial progress is
slow, but none the less definite. Low
temperatures and some injury to crops
provide the only adverse influences of
the week, and this has little effect upon
manufacturers and traders, who have
started to prepare for increased bust
ness. Buyers of dry goods, clothing
and millinery are notably active in
placing orders, and other staple lines
also feel the effect of gradually expand
ing confidence. Even If the official crop
estimates of September l have to be
moderately reduced because of bad
weather since that date there is full
compensation to growers in the en-
hancement of the prices, and the
strength of securities indicates the
faith of the financial world. Many mills
and furnaces have resumed because of
new orders or adjustment of wage
scales, and prices are steadier in most
cases. 1t is not unusual to hear fall
trade spoken of as fully equal to last
years, although collections are not
prompt at several cities. Freight traf-
fic blockades are not as frequent as
they were It this time in 1903, yet there
is occasional complaint, and earnings
in September were per cent larger
than year ago.
At the easier terms there has ap-
peared liberal demand for Chicago
packer hides, fully 900 being sold
during the week. No recovery in price
is noted, however, and foreign dry
hides are barely steady.
Failures this week amounted to 224 in
the United States, against 219 last year,
and q in Canada, against 19 a year
ago.
Bradstreets tomorrow will say:
While there are diverse movements in
domestic and foreign trade, the ten
dency as a whole is for improvement
along conservative lines. Buoyancy in
the stock market, possibly largely
manipulated, and the strength of ce-
real prices are factors stimulating to
trade, but the advance of the fall sea-
son, with cooler weather in some sec
tions and the prospects of good returns
to the agricultural interests, despite
the heavy shortage in the wheat yield,
are all elements tending to encourage
buying. The feeling in many lines is
that as the season advances and the
corn situation becomes clearer the
need of additional recorders will result
In a fair volume of trade, comparing
than did last springs trade with the
corresponding period of last year. Rail-
way earnings reflect a heavy traffic.
Telegrams to Bradstreet's indicate a
fair expansion in Western trade, though
buying from the n-growing sections
is still cautious. Trade Is brisker at
nearly all Pacific Coast points, though
San Francisco wholesale trade is rather
smaller than expected.
Wheat Gncluding flour) exports for
the week ending September 15 aggre-
gate. 935, ,S34 bushels, as compared with
1,995,621 bushels last week. 1890, 900
bushels last year and 5,435, 1923 bushels
in 1902. From July 1 to date the exports
aggregated 1926. III bushels, against
80, ,164,251 bushels last year. 53.933, ,065
bushels in 1902 and SO, ,656, 1853 bushels in
1901
Business failures in the United States
for the week ending September 16 num-
Der 167, against IA last week, ITO In the
like week in 1908 and 1872 in 1902 In
Canada failures for the week number
2S, as against IA last year.