The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-08-24
COUNTRY MERCHANTS
ARE GOOD BUYERS
Jebbing Trade Is Unusually
Coed fer This Season.
Pig IRON PRICES ARE BETTER
Bessemer Is Notably in Demand for
Quick Standardization Con-
tinue Good in the Cotton Goods In
dustry - Footwear orders Exceed
Those of Last Year.


NEW YORK, Aug. A.-Dun's Weekly
Review says: Jobbing markets are well
attended by interior buyers and country
merchants, who operate with great free
dom. considering the financial stringency
which has compelled the postponement of
much contemplated structural work. Yet
many Western and Southern cities report
building operations far in excess of last
years. and, as the harvests progress, there
is more disposition to increase prepare
tons for future needs. Retail stocks have
been depleted by the customary bargain
sales, and preparations for fall and winter
trade indicate confidence In continued
activity. At most domestic points there
is. no complaint regarding collections, but
reports from. canada indicate many
requests for renewals. Leading Industrial
plants are well occupied, many mills hav-
ing output sold far into 1908, and there is
little serious interruption by strikes. A
sharp rise in grain was the feature OF the
commodity markets, but best prices were
not maintained. Railway earnings in the
first half of August were 75 per cent.
larger than last years figures. Ofhcial
returns of foreign in July FAR
surpassed the same month in any previ-
Gus year, the gain over 1906 amounting
to $22, co., 900 in imports and $17,00O,O 900 in
exports. At this port alone for the latest
week imports gained 50. 796,413 and exports
increased $643, 1852. Stock market liquida-
ton received a check, but there was little
activity, and prices recovered only mode
rately from last weeks closing figures.
The best sign was an increase in small
purchases by investors. Time money grew
aA0.A- kIA Ia M AZ 70 HnOCTIln-
tive purchases. Bank exchanges at New
York were 321 per cent. less than In the
same week last year, when speculation
was active, but at other leading cities
there was an av'rage gain of I6 per cent.
Inquiry for pig iron has improved, chief
ly for small lots and prompt delivery, con-
sumers of Bessemer iron being notably
urgent for quick shipment. But scarcely
any can be had earlier than October In
most sections Of the iron and steel industry
conditions are normally more quiet at this
time than any other month of the year,
and the moderate decrease In new bust
ness of late has received more attention
than the circumstances warranted because
of the phenomenally active period pre-
ceding. This contrast has given rise to
prophecies OF general curtailment, but 1t
should not be forgotten that contracts are
coming forward literally in view of the
monetary pressure that is a temporary
factor of great potency. Much structural
steel and pipe Is wanted by municipalities
that must defer improvements because
bonds cannot be sold, and the railways
are similarly prevented from erecting new
bridges, terminals and track, or purchasing
rolling stock. In the light of these facts,
tardy deliveries of the mills and full opera
ton of most plants testify to a vast tom
mage Of orders, despite financial strin-
gency.
Conditions continue satisfactory in the
cotton goods industry, some mills having
contracts covering production through most
of next year, and manufacturers find no
difficulty in maintaining prices at the top.
There is no significance in the statement
that business has been transacted at sec
ond hands somewhat below regular quota
lions, because this represents partial profits
on large purchases made before the market
attained its present high point. Some
plants have been compelled to stop ma
chinery until the production of gray goods
caught up. but otherwise the Industry is
fully occupied, and prices are readily main
tanned.
One element of strength is the high
position of the raw material. Local job
bling trade is exceeding last years, and
more buyers are expected within the next
two weeks. As to woolens, business is
still comparatively quiet, except that
fancy worsteds sell freely. Buyers have
left the market, an6 no activity is ex-
pected until duplicate orders are sent in.
II is impossible to ascertain any definite
trend In dress goods, staple worsteds
moving most freely, but the position of
most lines is not established.
Weekly shipments of footwear from Bos-
ton again exceed similar figures for last
year, according to statistics compiled by
the Shoe and Leather Reporter, and the
volume of new business has improved over
recent preceding weeks. Yet buyers per-
sist IN a conservative policy, operating
only in accordance with actual require
ments. The chief restraining influence is
believed to be the severe decline in hides,
which is expected to be reflected in the
market for the finished product. Another
factor is the moderate reduction that has
In a few special sales. Business
is more active at the West, ST. Louis
manufacturers receiving orders more freely
than those situated in New England.
Leather is stin held relatively hrmer than
hides, chiefly by curtailed tanning, few pur-
chasers being able to obtain concessions.
Liberal sales of betting butts reduced
stocks, but the market is no hrmer.
Tn evidence that there still are cakes and