The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-11-30
DUN'S REVIEW
CONFIDENCE RESTORED BY
END OF YEAR.
Outlook for Holiday Season Is Full OF
Encouragement-Retail Business
More Active.

NEW YORK. Nov. 3o.-Dun's Review OF
Trade today says:
Confidence Is returning. but conserva-
tism is still much In evidence, especially
in manufacturing. Mills and factories are
only operated to ill orders, no accumula-
ton of stocks being permitted pending
more settled conditions. Some idle plants
have already resumed, however, and In
many cases there are ample contracts on
hand, but work is curtailed because GUS
toners request delay in deliveries, as funds
are not available for settlement. These
concerns expect to have machinery In full
operation when the money market be-
comes normal, several preparing to resume
after January l.
Retail trade is more active, sales Of
holiday goods supplementlng dealings in
staple merchandise, and some Western
cities report that wholesale houses are re-
ceiving orders Of usual size from country
merchants for spring delivery. More
closed banks have resumed, gold has ar
rived from Europe in large volume, and
banknote circulation expands in response 10
special facilities offered by the Treasury.
ION of the best features of the week at
this city was the practical elimination OF
the premium on currency. Stocks advanced
moderately on further investment buying
and lower call money rates that permitted
the resumption of speculative purchases.
Railway earnings thus far reported for
November were 90 per cent. smaller than
in 1906, and foreign commerce at this
port for the latest week showed declines OF
$144, sos in exports and s4,7l6,562 in imports
as compared with last year. Bank ex-
changes at New York were 1913 per cent.
smaller than In the same week OF 1906,
and at other leading cities the loss amount
ed to 22.1 per cent.
Output of finished steel products has
declined s!il further. ard more pig iron
furnaces are idle, but the sentiment is not
demoralized at leading centres, and some
idle plants will resume next week. Prices
remain comparatively stendy. although IN
many cases the figures are wholly nominal
owing to the absence of new business.
Shipments are almost entirely confined to
qualifications on old contracts for which
quotations were fixed some time ago.
Structural shapes are IN fair demand,
building operations being pushed While
favorable weather prevails.
''In the trade 1t is felt that the new year
will bring easier money and large railway
pond issues, the proceeds of which will be
devoted to postponed extensions and new
equipment, but m the meantime there Is no
disposition to accumulate products, espe-
cially as lack of currency makes IT dificuit
TO meet pay rolls. Construction Of the
plant at Gary Is not checked, an expression
of faith in the future that does much TO re-
store confidence throughout the industry.
Minor metols are quiet and scarcely
changed In price.
s.Prospeots are brighter for an early re.
sumption Of buying In the primary markets
for cotton goods. Stocks in the hands Of
distributors ere known to be depleted, ant
reduction In work at the mills has pre-
rented any accumulation at first hands.
although buyers have not yet made
many inquiries, the impression is becoming
general that the scarcity of merchandise
is increasing and that difficulty may b,
experienced IN securing deliveries whet
the goods are needed. Meanwhile quota
lions remain nominaliy unaltered, aud M
reimbursement is anticipated until condi
tons are favorable for a substantial
volume of business. Slight interest de
veloped in the export division through TIL
purchase of standard drills for India. Tn
price WAS half a cent below the last pre-
ceding sale of this style OF cotton goods
There is still delay In opening new linei
Of woolens. The trade has been canvassed
but buyers have not entered the piece
goods market on account OF the possibility
Of cancellations. Scarcity of heavyweight
worsteds gives that division a frmer tone
than other grades, and the statistical posi-
ton OF the WOODEN goods market will be
strengthened by the further reduction of
active machinery.
Conditions are unchanged in the foot
wear industry. Jobbers throughout the
country purchase only for immediate re-
quirements, and statesmen report light
orders. Wholesalers at the West take
samples for next fall, but there Is scarce
-. -... .... h,,.tnape la, .t1nlau,outorx raaa
lots for the current season.
Most New England shoe shops reduce
time still further as orders are overtaken.
be long on account of the fact that deal
ers have been limiting purchases to cur
rent needs, and stocks must require re-
plenishing when consumers resume nor
NAL purchases.
Few changes are reported in leather,
but the tone is weaker despite the smaller
output. Buyers insist ON better terms be-
cause the leather market has not declined
In harmony with the fall in hides, which
are ngain lower this week. There is little
demand from tanners, and hides accumn-
late In all positions. 1t is not possible to
apply the conservative method Of restrict
ing output to demand in this case, because
hides are o by-product, and cattle must be
slaughtered for the meat.
Eat the commodity exchanges the inn
proved feeling In financial circles produced
q decided rise in prices. Wheat led the
advance. having the additional stimulus of
large foreign needs and forced liquidation
by an extensive short account. Western
receipts are making a closer comparison
with last years figures, 4.9S,335 bushels
coming to primary markets, against 4,709,-
S2G bushels in 1906.
Exports from all ports of the United
States Were 3,27O.5SO bushels, -four includ-
ed. against 2,714,4 61. Receipts Of W1.724,723
bushels of corn, compared with l0SO,72s,
WHILE Atlantic coast exports were 5b,S52
bushels. against 7SS,565 last year.
More estimates Of a cotton crop below
100000 o ba,es, together with liberal ex-
| ports and speculative support. carried
prices to a higher position, although more
idle machinery at domestic mills and large
port receipts gave encouragement to the
short account. Another proposition to hold
for fifteen cents appeared this week, the
quantity being fixed at 6,000,0N bales.'