The Washington herald., 1907-06-08
Late Spring Working Hard
ship III Many Lines.
STEEL SALES ARE INCREASING
Demand for Metal Products SO
Great that Industry VIII show No
Falling of This Year-Prices of
Raw Cotton RisinE-ActiyIty i'm
Shoes-May CIearances small.


say:
Adverse weather has made the season
another week late, both rs to distribution
Of spring merchandise and progress Of
the crops. Transactions during the few
days Of seasonable weather thus far indi-
cate that settled warm weather will bring
out much business, but SO much time has
been lost that few merchants anticipate
a normal volume in the aggregate, and
large stocks will be carried over or sacri-
feed at bargain sales
"On the farms the situation is critical.
but few weeks Of high temperature will
make the outlook much brighter, except
that extensive replanung adds heavily 20
the cost Of the crops. Wholesale trade in
fall and winter goods is brisk, large dupli-
cate purchases because Of the cold spring.
having depleted stocks in the hands Of
retailers Manufacturing plants operate
at fun capacity in most industries cotton
mills making remarkably favorable re-
turns in view of the weather and cost Of
raw materials
Buying Of steel products has increased.
and the forward business in all forms OF
iron and steel is so large that no material
change I'm the condition Of this industry
can be expected this year Urgency for
prompt delivery still maintains premiums
in spot business, the oversold condition Of
domestic furnaces making ready mar
Bet for receipts of foreign iron.
Demand for Steel Rails.
steel rails and other railway supplies
are in most urgent demand. and there is
so much business already placed for fu-
ture delivery that business Is not sought
AS in other branches Of trade, the only
drawback is the uncertainty supplied by
the unfavorable weather, and thus far
this factor has caused no cancellations Of
consequence
Prices Of cotton goods rose still higher
in response 10 the strength Of the raw
material. and manufacturers receive an
increasing volume Of orders, many OF
which must he refused because satisfac-
tory deliveries cannot be made. Specula-
tive purchases are not encouraged. but
actual scarcity frequently puts the buyer
in an undesirable position. owing TO the
abnormal quotation there are more pre-
diCtiUns that a reaction must soon ap-
pear but the same statement was quite
as positively made when prices were
much lower than now. Coarse COttons
lack the support Of export purchases, but
even this division shows a further ad-
vance. Some grades have been returned
from China. although this business Is
small. Worsteds open slowly. thus far
the only lines that have appeared being
Of a staple character, and prices show no
definite trend.
Conditions are unchanged in the boot
frFH
at recent moderate declines. Demand IS
largest for high grade footwear. with less
pressure for medium and low qualities.
Manufacturers report especial activity in
shoes that retail al 81 and $ per pair,
Commercial failures this week in the
United States, as reported by r. q. Dun
& Co are l9S. against l65 last week. ls0
the preceding week and 206 the corre-
spending week last year
Brndstreets Report.
New York. June 7.-Bradstreets to-mor-
row will say:
"Cross-currents in trade and crop con-
diti0ns- prevent generalization. There has
been a further slight improvement in
crop conditions. due TO slightly higher
temperatures West and South and cos-
sat.on Of rain in the cotton belt. This has
made for a more optimistic feeling as TO
ultimate yields and future trade in the
sections enjoying even Il small share of
s-aSonable weather, but the great ma
iolity OF cities and particularly those In
the eastern half Of tho country. complain
Of continued slow retail trade and collec-
tons These unflvoTablc conditions are
I'm turn, reflected i'm more general COM
plants Of the absence Of the expected
volume Of recorder business from johbers
and manufacturers. who are also begin
ming 10 re-echo the reports Of accumuat-
ing stocks OF light spring and summer
fabrics.
Reduction sales are more I'D evidence
I'm retail lines and the feeling is that some
Of the trade lest in the past two months
will not be regained On the shsr hand,
the reports Is 10 fall trade are quite sat
isfactory. a reflection. possibly Of the
fact that retail stocks Of heavy goods
were well cleaned up last winter. Crop
uncertainties. and the fact that recorder
business this spring has been practically
absent in many lines. however, induce
conservatism rs To future ordering. and
there is less disposition to embark freely
I'm future commitments until the situation
becomes clearer
Reflections OF the rather better crop
advices. particularly in spring wheat. is
found in lower prices OF the latter cereal,
bu. confidence I'm smaller yields both at
home and abroad. has steadied prices
after n smart early decline Trade sent-
ment az present rather favors a govern
ment report pointing to about 5000 900
bushels rs the possible June ! promise.
but the lowest condition Of cotton reported
at this session for many years strengthens
cotton prices.
slight Increase in Failures.
May statistics Of failures point to only |
slight increases in failures and liabilities
in that month Of q year ago, while clear !
ings total. though reduced heavily by
speculative dullness at New York. show