New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-07-06
CONDITION OF TRADE.

'Dun'S Review says.
Despite tho interruption OF n holiday and the
usual inventories and midsummer stoppage of
machinery for repairs, a vast amount Of business
transacted during the last week, and the out
look improved stlll further. Settled warm weather
has reduced stocks of summer fabrics many
points where congestion threatened, and in
replensh depleted stocks that II was feared would
he carried over 70 1905 Crop news is encouraging,
on the whole. although grain rose sharply in re-
sponse 10 aggressive manipulation, and cotton was
affected by official report Of condition that fell
below expectations Midyear dryEoOds Clearanc"
sales were satisfactory local iohbers selling freely
10 the interior, where deliveries could not be Sc
cured from the mills. Sales Of fireworks were
estimated 20 per cent larger than last year. Al
though few large failures swelled the total liza
biliticS for june above all recent monthly records
the average for each trm in business during the
second quarter was only Sc 30. against $23 3 IN
the preceding three months. ana while hank eN-
changes at this city were reduced by the dun stock
market. the total for the whole country showed a
ratio Of only 81 ~ Of bad debts $1,H0 solvent
PAYMENTS through the clearing houses. against a
cents In the first quarter. Railway earnings In
June We're r. per cent larger than last year ana
foreign commerce At this port for the latest week
exceeded tie movement year ago ny $500
as To imports and st7S.097 as 10 exports Mercan-
tile payments became more prompt although
money very high and more gold was
sent abroad The recovery in prices OF securities
still further, but there was little public in
terest Bank exchanges at New York for the
week 1917 per cent less than year ago nut
at other leading cities there was an average gain
of l21 per cent"
"Bradstreet's' says:
Continued favorable weather conditions have
made for further crop development, expansion IN
retail trade in light summer goods ana notaole
stimulation hitherto tagging recorder business
Tho poor start that the crops have had ana inc
failure Of retail stocks to move promptly, however
make for great irreguarty In the reports from
different districts though. taking the situation as
a whole. there has been vast improvement as
compared with n month one OF the most
favorable DEVELOPMENTS of the week has been the
improyenent noted in collections mt many markets
a sJre sign that retail stocks are moving, though
the number of cities reporting reduction sales or
SLOW trade is sufficiently large To show that trace
I'm summer wear has not I'm all cases been salts
factory The usual measures OF business, Such rs
clcarings and failures point to irregular coH''t-
tons Thus the CeaTings Of the entire country
have fallen behind 1906. due entirely 20 New YORK ;
loss which IS assigned 10 speculative duineSs' as
outside of the metropolis clearings gained over the
first half of 1896 In failures II Is 10 be noted Una.
the number is down to the lowest minimum or the
last TWENTY-FIVE years, but the liabilities are tUe
largest with one exception for ten years past
Increased percentages assets to liabilities TINS
vaar noint apparently 10 money market strain on
otherwise solvent concerns. The crop reports are
irregular hut late as a whole and perfect weather
js needed for good results. The government re-
rort on cotton condition dsappointingly low
the poorest ever recorded at this season, IN 1act
Corn is very backward-two weeks iate ana nan
tho usual height Wheat yields In the southwest
are light. but quality is good Desire 10 await "
clearer view OF crop outturn UNITS future commit
rents but the situation In cottons is very strong
on uncertain crop outlook and heavily sold ahead
the mills.