The Washington herald., 1907-06-15
BARGAINS AID TRADE
Bad Weather Slightly Dis
counted by Prices.
PIG IRONS NEW RECORD
Production Continues Greater-Mer-
camille Collections Below Normal.
Quieter-Quotations Little Higher
Where Changes Are Recorded.

New York. June 1t-Dun & Co. S weekly
review Of trade will say tomorrow:
Despite some improvement. weather
conditions have continued adverse for re-
tail trade AT most points. and business
is only stimulated by bargain sales. Pros
poets for fall distribution are brighter.
because Of the better crop reports, and
manufacturers receive liberal orders for
next season. Current conditions, however.
are not satisfactory, and mercantile col
Iections are below normal. except in sec
tons where country storekeepers have
been enabled TO make prompt settlements.
because high prices attracted much mar
keting Of last years grain. The sharp
decline in wheat made that market less
abnormal, official figures OF conditions on
June l indicating a larger crop than was
expected and since the beginning of the
month there has been further improve
ment.
Record breaking production Of pig iron
without causing accumulation is ample
evidence of unprecedented activity in the
steel industry. Implement makers buy
bars regardless of reports that crops are
smaller, and the congestion at pipe and
sheet mills is not relieved. New busi-
ness in structural shapes comes forward
steadily, the tonnage this week covering
many buildings, viaducts, and track ele-
vations, while the local subway eXten-
sion and much other contemplated work
viii soon be in the market.
Cotton Goods Quiet.
Somewhat quieter conditions prevail In
the primary market for cotton goods
although prices are higher where any
alteration has occurred. Slightly reduced
activity is 10 he expected after the pro-
longed period Of unreasonable weather,
which has. been felt in all departments,
from retailer TO producer. yet the out
look is most encouraging, because of re-
ports from interior jobbers stating that
the volume Of forward business is greater
than a year ago. This does not help
current distribution Of seasonable goods,
however. but producers are sold so far
ahead that the present attitude of buyers
is immaterial.
New England footwear manufacturers
report a backward season. although there
are indications that fall orders will soon
improve. JObbers have delayed placing
contracts later than usual as the back
ward season has kept retail trade mod
crate. bat the better weather has now
begun 20 awaken interest among whole
salers. Statesmen returning from the West
report conditions much more satisfactory
than on previous trips No change is
noted I'm prices Of medium and expensive
footwear, but manufacturers would prob
ably shade figures on large contracts for
W-gr8de shoes. Trade in leather is
quiet with stocks gradually acCumulat-
ing although sole is firmly held union
and oak being rs high as at any time
this season.
Price of Wheat Declines.
after the publication Of the govern
ment report there was a rather sharp de
cline in the price of wheat. The condi-
tion and acreage announced by the de
partuont were taken as meaning a crop
OF 655.0'0o00 bushels. While this is about
114mlG1 bushels less than the phenom-
enaI crop last year. it does not suggest
famine conditions. especially when weekly
primary receipts point TO a very large
stock carried over Some recovery from
bottom prices was attributed to bad crop
news from abroad. indOrsed by liberal
purchases for export
Commercial failures this week in the
United States are 49, against los last
week. fs7 the preceding week and lS3 the
corresponding week last year
Brndstreet's Review.
Bradstreet's tomorrow will say:
Cotton goods lead the dry goods line in
strength Of prices. a reflection Of fears Of
crop damage affecting future production.
Better crop reports have depressed prices
Of cereals, and other farm products, but
cotton follows this tendency al "A dis
tance The June I level Of all prices
showed an upward reaction from earlier
months o. easing quotations which the
present weakness has not altogether off
set
In lumber interior buying az large
Western Centers is less active, and ore
g1n logging camps have shut down, 70
avert lower prices. Some Southern mar
kets report declining prices for lumber,
reflection. apparently, of weather or
other conditions affecting building. In
ability TO easily obtain money is the
cause assigned for difficulties reported
by building concerns who were spread out
TOO widely for the capital employed.
Money markets. as a whole. show little
change. There is disposition to harden
ing au long time loans, while call rates
are easy.
Gold shipments Cease.
"God shipments have ceased for the
time being. an impeIling force being the
call for The return of national deposits
with banks made some time ago. The
wife edge is off speculation in C0mmodii-
ties aai stock-market operations have
sunk 90 the smallest total in two years.
Bank eiaarings fall behind last week
and last year, due 20 q heavy decrease at
Naw York. where speculation is dull
Railway earnings for May exceed those
of May a year ago by 147 per cent