The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-04-06

New York, april 5.-Bradstreets to-mor-
row will say
Despite some cross-currents in demand.
due mainly 10 the withdrawal of the
Easter stimulus to trade and succeeding
spell of cold weather. the developments of
the week have been mainly feeble. Chief,
perhaps, of these is the final satisfactory
settlement of the Western railway mems
demands by arbitration. Concessions by
both sides guarantee that no interruption
10 traffic win occur. This is very impor-
tant. because despite strenuous efforts by
railway managers and actual improve
ment proceeding therefrom, slow deliy-
cries of merchandise are still restrictive
of trade and collections. All reports as to
trade at wholesale and in jobbing circles
in the FIRST quarter are in a high degree
favorable
Bank Clearngs for the quarter are also
good, though. owing 10 lessened securities
dealings, aggregates for the entire coun-
try are slightly smaller than the 1906
record. The money situation has shown
further ease. with a favorable influence
upon stock market sentiment reflected in
higher quotations for securities. but di-
verse views as to the permanence Of the
ease are expressed banks are getting full
rates from commercial borrowers, and
borrowing railways have had to pay high
rates to place notes.
Reports from most leading industries
are stiu Of fun order books and of back
ward deliveries. There is, howevc,
slightly more manifest d disposition 10
move conservatively as regards distant
positions, some easing OF metal quota
tlons, and a softening of asking prices
for various products, and the jewelry,
shoe, leather, and wool trades note quiet
pending a clearer view of later develop
ments.
"Wheat-crOp reports have an appear
ance of irregularity. due TO the reported
spread OF insect damage in the South
west and advices of winter-killing ia the
Central West. SIN, the reports from the
Ereat surplus States west of the Missis-
sippi are very good. having been I'M
proved by rain. Fr0sts have hurt some
fruit and vegetable crops, but. while
checking growth. do not appear 20 have
damaged the exceptionally well advanced
cottenscrop.'
DHn's Review.
New York. april 5.-Dun's Weekly Re
view of Trade tomorrow will say:
Trade responds to seasonable weather.
distribution OF spring merchandise fully
eQHaling sanguine expectations. and
country merchants purchase literally
from wholesalers at leading centers. Re
ports from principal cities are uniformly
favorable, active business being accom-
panied by further Improvement in collec-
tons. Demand for lumber and other
materials increases as open weather slim
ulates building operations
Leading industries are fully occupied.
and no strikes Of more than local signifi-
canoe have materialized thus far. Manu-
Iacturers are busy on goods for early
shipment and sample business for later
seasons promises continued activity. I'm
proved traffic conditions make deliveries
more prompt and railway earnings in the
month of March were 1905 per cent larger
than last year. Commercial failures in the
first quarter were 3.135 in number and
S32,0i5,59l IN amount of liabilities, against
3l02 last year. when the amount involved
was $50, 70, JOY.
THE ratio of defaulted indebtedness 10
solvent payments through the clearing
houses was only Il cents TO each Sl000.
which is the lowest mercantile death rate
for the first quarter of any year since this
record was begun, in 1879. Current cOndi-
tons are best indicated by the statement
for the latest month and liabilities of
failures in March were smaller than in
either proceeding month this year or the
same month Of any year since 1902.
Prices of Commodities Decline.
prices Of commodities exhibited the
usual seas0nable decline in March. Duns
index number on April / being $1o7, S95,
against SlO9.91s a month previous. For
eign commerce at this port for the last
week showed a gain Of S6,s9l24 in imports
and a loss of $2.S04 $50 in exports. as com
pared with the same week Of 1906,
Treasury relief and more gold engage
ments abroad brought the lowest money
rates of the year. which should facilitate
undertakings that were retarded by the
difficulty OF securing loans. Bank eX
changes at New York were 81 per eent
smaller than in the same week last year
while at other leading cities there wa.
an average loss OF per cent
Commercial failures this week in the
United States as reported by R. G. Dun
& Co.. are l79, against 30 last week IS
the preceding week, and 197 the cor
responding week last year Failures fl
Canada number 25, against % last week
IS the preceding week. and Is last year
OF failures this week in the United States
G6 were in the East, IS South, s. West, anS
liabilities OF S. geo or more Liabilities O.
are SSl63,655. compared with $l0949,033