The Washington herald., 1907-12-14
TRADE is IMPROVING
Retail Distribution for the
Holidays a Factor.
FINANCIAL AFFAIRS BETTER
Greater Confidence Is Promised for
Beginning of the Yenr-Bluctua-
tiOns I'm Raw Cotton Produce Irreg-
uIarities in Prices-Premium on
Currency Persists in Some Cities.

New York. Dec. 13.-Bradsreets week
ly review of the condition of trade to-
morrow will say:
Gross currents in trade, finance, and
industry prevent generalization; but
financial conditions generally have shown
further easing, while the approach of a
holiday period and more seasOnable
weather has helped retail distribution,
which in some sections also feels the
stimulus Of price concessions.
"On the other hand, wholesale and job
bing trade has rather quieted, as atten-
ton has begun 10 concentrate upon retail
distribution. and manufacturing industry
has slacKened Slightly. In no branch OF
trade distribution or in industry are
operations so brisk as at this time in
recent years, Collections generally are
very slov. and failures tend TO increase
in number.
In financial affairs the country is max
ing gradual approaches TO the normal
Advices from the country are better.
disposition 10 pay out currency, some in
quiry for mercantile paper is noted on
the part of interior banks at leading
Western centers. and some money has
begun to return TO Chicago. Savings bank
Withdrawals are small where the en-
barge on drawing has been lifted. but
gain to retail trade is noted where such
Withdrawals have been allowed.
''The premium on currency still persists
at many cities, however, and this is vari-
ously assigned to windOw-dressing by
State banks awaiting calls as to condi-
ton. and to the need. always felt at holi-
day seasons. for small bills. Issues Of
clearinghouse certificates West and
South are smaller. some issues being re-
duced. and the volume Of cashiers checks
is being reduced by Withdrawals.
Despite complaints Of mild weather re-
stricting regular retail distribution IN sea-
sonable Npes. the turn over as a whole
is larger, the spirit Of the season making
for freer purchases than in recent weeks.
though the volume is below this date in
recent previous years. As a further slim
ulus TO retail trade, several cities note
price concessions. varying with condi-
tons. At wholesale. trade is quiet
Dun's Report.
r. G. Dun & Co.'S review viii say:
Commercial reports indicate little al
teration for the past week, but greater
confidence in marked Improvement after
January / Holiday trade monopolizes at
tention, IN some sections exceeding that
of last year. although aggregate sales do
not compare favorably with 1906 10 date.
Jobbing and wholesale lines are season
ably quiet, while manufacturing opera
tons are curtailed pending the resump-
ton OF normal demands.
Returns Of pig iron production indi-
cate little more than half the furnace ca
pacity in operation, steel mills. and tex
tile factories have added TO the percent
age OF idle machinery, shoe shops work
only part time. but some railway eXten-
sious have been resumed. The supply OF
labor has not increased in ratio 10 the
closed plants however, owing 70 emigra-
ton being about double that OF last year
some sections report a better senti-
ment in the iron and steel industry. al
though new business is limited. and little
recovery is expected until next year Sew
eral orders for rolling stock We're placed
this week by foreign railroads. and more
business of this nature is under negotia-
tiOns. while the official report OF exports
OF products OF iron and steel show
total value Of $l65 5,000.OO0 in ten months OF
1907, or over 10 per cent Of the value OF all
merchandise sent abroad.
Few Changes in Cotton.
Fluctuations In the raw material pro
duced some irregularity in the tone Of
cotton goods, but few net changes oc-
CURED in prices. AS neither mauufac-
turer nor buyer seem desirous or estab-
fishing a new basis Of quotations, the
market is nOminally unchanged. The only
division of the cotton goods market that
shows accumulation is the export class.
Commercial failures this week in the
United States are so, against 316 last
week, 80 the preceding week, and 261 the
corresponding week last year. Failures IN
Canada number %, against % last week.
"a the preceding week, and % last year.
OF failures this week In the United States,
10 were in the East, 124 South, So West.
and 3 in the Pacific States; and III report
liabilities Of $500 or more, against I32
last week. Liabilities OF commercial fail
ures thus far reported for December are
$. 4o2,59S, against S2S64.SS4 for the same
period year ago.