The Washington herald., 1907-10-19

New York, Oct 1S-R. G. Dun & Co.'S
weekly review Of trade tomorrow will
say:
Autumn retail trade broadens under
the stimulating influence Of favorable
weather. and collections also improve.
While reports are almost unanimous re-
garding the satisfactory volume of re-
tail distribution Of seasonable goods. in
other sections Of commercial and indus
trial activity there is some irTegularlty
attributed In most cases TO high rates
for money, which induces conservatism
in preparation for the future. Yet lead
ing cities IN the West and South find no
restriction in supplementary orders al
wholesale. and jobbers report that new
lines for spring are well received.
Trade balance Satisfactory.
Copper declined still lower, but prices
were steady in the leading metal industry
Another phenomenal record of immigra-
tion was made last month, 9S,694 aliens
arriving in this country. or 1858 more
than in September, 1876, while the move
ment for merchandise showed an increase
Of S3.6g34I3 in imports. and a loss of
S3,l45,653 IN exports, as compared with
the same month last year. The favorable
trade balance Of S2g0)0,000 was much
more satisfactory than that Of August,
and further Improvement should follow
the larger outgo OF farm staples this
month.
More inquiries than for several weeks
past have given "a better tone to the
pig iron market. and a fair tonnage Of
basic iron was sold. Biilets are quiet and
slightly easier and there is some idle
capacity at tin plate mills. Plates and
structural materials are the strongest de-
partmcnts of the finished steel market
and bar mills have enough business 20
operate during the balance OF the year,
even II no more orders are received.
Textiles show Weakness.
In the textile industry the event OF
the week was the cut in prices BY a
Chicago house There was no evidence
of weakness in cotton goods prior TO
that reduction, which in some lines
amounted to % per cent, and Eastern
j0bbers did not follow the Western move
meut Producers in New England arc
sold so far ahead that there IS no oc-
casi0n FOR concessions. Yet the tone Of
the entire industry was unsettled. Any
speculative tendency that survived the
monetary stringeucy was dispelled by the
events of the week.
Grain is stil abnormally high In price.
although weather conditions in this cOun-
try have been favorable for securing
the crops, even ia the most backward
districts. and a sharp reaction followed
the decline.
zone French authority predicts that
the needs of wheat-importing nations viii
cali for s6,tV,o00 bushels more than the
surplus of exporting countries, which
would leave light stocks at the end OF
the year If approximately correct
Commercial failures this week in the
United States are --s. against 28 last
week. 202 the preceding week, and lS5
the corresponding week last year
Failures in Canada number -, against
y last week. O. the preceding week, and
II last year OF failures this week in
the United States. 100 were in the East
60 South. 43 West and - In the Pacific
States. and 75 report liabilities Of 5000
or more, against gS last week
Bradstreet's Review.
BraGstreets review viii say:
Trade, crop, and Industrial reports are
rather more irregular. Interest as to
distributive trade has now largely passed
from the wholesale and jobbing branches
TO retail trade, the development and pro-
portions OF which viii be closely scruti-
nized from now on. So far the reports
as to this line are conflicting, being
best In parts Of the Northwest, South
west, and South. and relatively slackest
at the East, which needs sharp, cold
weather for best activities.
"Jobblng business Is fair as a whole,
it being noted that house trade is rather
quiet. while dlling-in orders vary with
sections reporting. The money stringency
is an additional feature which attracts
attention, affecting as it does, the item
Of collections of past transactions. The
weight Of evidence, particularly from the
larger cities, is thar payments are now
prompt. but it might be noted that quite
a few cities report Improvement this
week. most of these being at the South.
LAS to this item Of collections, too. it
may be said that holding Of crops have
been an object of complaint from sew
eTal points. Thus the country elevators
in the Northwest are reported well filled,
and the Southern producers are stiH hold
ing cotton. the result being an increase
OF the strain always felt at crOp-moving
time Special note is made Of the effects
of strike on the levees at New Or
leans. checking the movement and ship
ments OF cotton. There Is still com
plants, also that the scarcity Of COM
merclal bills causes high prices for ex-
change.
THE crops news Of the week has not
been favorable. Killing frOsts are re-
ported to have destroyed the probability
of any important quantity of top crop
in the northern half of the cotton belt,
while the effect of frosts at the North
will be to increase the quantity of soft
corn beyond that of recent years.
THE features Of the foreign trade re-
turns for September are the shrinkage
shown in the imports of merchandise as
compared with the preceding month of
August, and the decrease shown both
in leading lines of export (suCh as bread
stuffs, cotton, and provisions) and in
all exports as compared with September
a year ago.
DATTTNF0DE CDATN DDTrEc