New-York tribune., 1907-11-30
CONDITION OF TRADE.
n1n,s RevieM" SAYS


Confidence is returning. but conservatism is
still much in evidence, especially in manufacturing
Mills and factories only operated to fill orders.
no accumulation of stocks being permitted pending
more settled conditions. Some idle plants have
already resumed however and in many cases there
are ample contracts on hand but work is curtaied
because customers request delay in deliveries as
funds not available for settlement. These
Germs expect TO have machinery in full operation
when the money market becomes NORMAL several
preparing TO resume after January l. Retail trade
is active. sales Of holiday goods suppementng
dealings in staple mereha ndise, and some Western
cities report that wholesale houses receiving
orders of usual size from country merchants for
spring delivery More closed banks have resumed,
gold has arrived from Europe iii large volume, and
baEknote circulation expands In response to special
facilities offered by the Treasury One of the best
features of the week at this city the practical
elimination of the premium currency. Stocks
advanced moderately on further investment buying
and lower call money rates that permitted the
sumption of speculative purchases. Railway
ings thus far reported for November were 2.2 per
cent smaller than in 1906, and foreign commerce at
S144593 in exports and S7i5,562 in imports,
compared with last year. Bank exchanges at New
York 1913 per cent smaller than in the same
week of 1906, and other leading cities the loss
amounted to 221 per cent
"Bradstreet's' says:
The Improvement in of financial affairs has
become more Widespread so notable, indeed, 10
give much more cheerful appearance TO the entire
situation For thing the security markets have
displayed more evidences Of healthy strength than
for long time past. the money market has shown
signs of loosening up the currency premium has
dropped quite materiaily-cloSe 10 the vanishing
point in fact-and the expectations are widely en-
tertained or expressed that the country will be
back upon a cash payment basis in few weeks
But trade is still quiet the country over, and new
buying owing rarity 10 holiday observances and
also to mild weather. which is still check on retail
trade is small while industrial operations are stu
being restricted.
with the easing in the money situation has come
q more liberal marketing of the countrys products,
and grain receipts interior markets are certainly
larger part OF which is due, no doubt, TO the
greater strength exhibited by cereals and cotton,
which In turn primarily reflect the better feeling
at money markets. The prices situation as whole
however shows signs of readtustment TO the
changed conditions of demand and live animals
rrovisions and meats and other food products have
declined quite sharply. The labor situation, too
shows evidences of the slowing down or INDUS
trial generations. Railroad traffic is appreciably
smaller than for many weeks past and the car
shortage evil has disappeared just as the close OF
water navigation approaches. Large NUMBERS or
men EMPLOYED in railway construction work have
been laid on and building is apparently much less
active-two features not uncommon as the winter
seasou annroaches. The movement. OF emgrants
from Atlantic ports Europe is reported unprece-
denied these people leaving the country by thou
sands Some of this is. no doubt. the normal
r1ovement seen every autumn. but much or 1t Is
explained as showing that quiet spell IS looked
Sor In Industry here and that living ABROAD Is
cheaper till activity is resumed.