The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-12-21
TRADE Is NORMAL
Holiday Buying Assumes Fa-
yOrable Proportions.
SENTIMENT IS CONFIDENT
Foreign Commerce Good - Railway
Earnings SmalI-IrOn and Steel In
dustry Picking Up and No Further
Curtnilment of Output Expected.
Foreign wheat Trade Encouraging.

New York. Dec. 2o.-Dun's weekly re-
view Of trade tomorrow viii say.
Holiday trade assumed normal pro-
portions this week, partially recovering
earlier losses in comparison with pre-
yious years. and in saple lines there
was a better movement in response 10
more seasonable weather
Although actual business did not in
crease IN the leading industries there
was a more confident sentiment regard
ing the future. numerous inquiries en-
couraging manufacturers TO anticipate a
steady improvement in orders early in
1903.
Meantime inventories are being taken,
machinery thoroughly overhauled and re-
paired While several plants resumed.
others were added TO the Industrial list.
and the net change was small
The best news OF the week was the
official report Of foreign commerce IN
November. that far surpassed any pre-
vious monthly record N exports. and
supplied a favorable international trade
balance Of So, 800, 75l. This should make
il possible 10 retain much OF the net i'm
ports Of gold that amounted to So. Sal, So.
Railway Earnings Thus Far.
Railway earnings thus far reported
for December were So per cent smaller
than last year, bur prices OF securities
recovered more moderately. Sentiment is
more hopeful at leading centers OF the
iron and steel industry, Increased ac-
tivity being generally anticipated after
the holidays. No further curtailment of
output has occurred.
Increased inquiries are considered en-
couraging signs in the primary market
for cotton goods, although little new
business has transpired, and the improve
ment is thus far chiefly I'm sentiment
If supplies are as restricted as reported.
preparation for the next season must be
made after January I. especially by Job
bers Footwear factories IN New England
report slight increase over the volume
Of business in the two preceding months.
but trade is still far below normal
Commercial failures this week in the
United States. as reported by r. G..
Dun & Co. are 3i2, against 322 last week.
5l6 the previous week. and 30 the cor
responding week last year. OF failures
this week in the United States li6 We're
in the East, i22 South; - West: . IN
the Pacific States.
'One hundred and twenty-four report
liabilities Of $500 or more. against IL
last week Liabilities OF commercial fail
ures thus far reported for December are
$.7sS.776. against $5.7OSSs7 for the same
period year ago"
Bradstreet's View of Trade.
Bradstreets review Of the state OF
trade says
Holiday buying has had the center
OF the stage ard retail business has feIt
very percepubly the influence OF the
spirit of the season.
Wholesale and jobbing business nat
urally tends toward quiet az this time
and statesmen are very generally IN from
the road. but the falling of In transac-
tons in these branches from the normal
is very marked AT present. and the ten
dency in industrial lines IS still toward
curtailment
Instances OF this have been found in
the iron and steel coke. lumber. and
cotton goods lines. in which latter a can
vass IS now being made by New England
manufacturers as 20 the future OF pro-
duction- Sentiment as to the outlook
Tor trade next year is very mixed.
Conditions In financial circles are stilI
'i'Nis' bul pulit surely. approaching
normal a very favorable feature I'm the
present period Of repression is the ten
dency toward enlargement Of our export
trade. This is most notable i'm the grain
trade and not. by the way. entirely on
the East coast of the country, because the
movement on the North Pacific coast is
very large and shows signs OF heavy TAX
ings OF wheat largely for the United
Kingdom
November export trade was of record
and il seems evident that
there is a demand OF large proportions
for this country's products at price
Final returns as TO building (seveutv-
nine cities OF the United States report
ing) show total expenditures for Novem-
Der of S0,2S6,f4 a decrease Of 70 per cent
from October, and of $50 per cent from
November a year ago. Only twenty-four
out of seventy-nine cities show gains over
November a year ago.
Holiday Trade in Canada.
Holiday trade is now the feature IN
Canada, and retail buying nnds the spirit
Of the season an important stimulus
Wholesale carriers Of holiday goods have
done good business, and are now watch
ng the retail distribution
General wholesale business Il naturally
quiet as the stock-taking season APP
proaches. A large trade has been done
IN groceries, which are now quiet at
wholesale. Building Is inactive. and ma
terials are quiet"