The Washington herald., 1907-10-12
TRADEALITTLE DULL
High Money Rates Retarding
Commercial Activity.
ORDERS IN PIG IRON HEAVY
Cotton Mills Continue BuSy--COIIec-
tions Are Irregular, Although Ina
prOvemcnts Are Reported in the
South-COaI Trade Is Active, with
Scarcity Of Cars and Boats.

New York, Oct. n.-R. G. Dun & Co.'S
weekly review of trade tomorrow will
say:
"A larger volume Of business is being
transacted than at this time last year,
/ although conditions in 1896 were most
favorable. and there is now the handi-
| cap Of almost prohibitive rates for COM
mereial paper Many contemplated un-
dertakings await more normal financial
conditions. and securities have fallen to
the lowest point since 1904, but general
/ business throughout the country makes
| fairly good progress.
Retailers report very brisk move
ment Of seasonable merchandise, and job
/ bers continue to forward supplementary
! consignments, but reports Of collections
are irregular. In agricultural districts
the marketing Of the crops at high prices
makes the payments satisfactory, but at
many Eastern centers there is complaint
of delay in settlements. Grain prices at
tained abnormally high figures without
checking exports. which should be re-
tiected in a much better foreign trade
balance for October than In recent pre-
Ceding months.
Several strikes are still retarding
progress OF the trade and some ma
chinery is idle at wooden mills, but most
industrial plants are well occupied and
are assured Of continued activity up TO
the end Of the year at least.
Pig Iron Orders Heavy.
Consumers and jobbers anticipate
more attarctive terms In the pig iron mar
ket, and consequently defer the placing
OF orders, but most furnaces are sold up
TO the end Of the year, so that few con-
\ cessions are offered It Is evident that
there is no fear of overproduction, as the
number Of furnaces in blast increased on
October /. including TWO new stacks.
Cotton mills continue well occupied.
but the only new business reported In
cotton goods is for spot or nearby de-
livery. Yet the mills make no concessions
In order to stimulate trade, and some are
SO backward in making shipments that
cancellations are reported. These are
exceptional cases, most buyers accepting
the best deliveries that can be secured.
and adyices from Western jobbers indi-
cate that no burdens OF supplies exist
in any position
Commercial failures this week In the
United States are 2B, against 2O2 last
week, l9i the preceding week, and 217
the corresponding week last year. FAN
ures in Canada number p, against 81 Hast
week, 30 the preceding week, and Is last
year OF failures this week Jos were IN
the East, 4S South. So West, and % in the
Pacific STATES. and IS report liabilities Of
$500 or more. against 50 last week LA
bilities of commercial failures reported
thus far for October are S2,675.34s, against
l,7S6,1H for the same period last year.
BradstreeTs Review.
Bradstreets review will say:
Stringent money market conditions.
delay in movement Of some leading crops
to market. and unseasonabiy warm
weather in some sections have operated
TO check the fullest development Of
wholesale trade fo- next year. and of re-
tail trade in seasOnable goods II is
worthy Of note, however, that Western,
Southwestern, and Southern jobbers re-
port an increased volume of recorder
business, indicating that country mer-
chants have had a prosperous fall season
so Far, and that early conservative buy
ing necessitates repair of broken stocks |
Collections are irregular, some i'm
prOvement being noted at the South, !
where the cotton crop has moved in good
volume, but otherwise there is little new
to note in this respect. 1t might be well /
to point out however. that reports of /
delayed collections at some cities arise |
largely from the fact that many concerns /
see fit to take the full time allowed in |
stead of, as in other years, discounting /
their bills.
There IS a general agreement, too, that |
much Southern paper maturing in Oc- |
tober has been promptly met At the |
same time the disposition TO hold cotton /
is reflected In slower than normal pay
ments, particularly in the Southwest, and 1
the scarcity Of commercial bills in the 1
exchange market shows that the move /
ment. as q whole of our crops abroad 1
is better than usual
Iron Market Dull.
Reports from leading industries are /
not greatly changed from a week ago. |
Iron is quiet. and the volume of finished /
goods ordered is smaller than some time 1
ago, although rails and structural ma
terial are slightly more active The coal /
trade is active East and West. bitumi- /
nous grades leading, with scarcity of /
cars and boats still a subject of com
plant
Building materials as a whole are /
quieteT, in keeping with the reduced ex-
pehditures reported from month TO month. |
Low lumber and naval stores prices are
an influence on trade also in Southern
centers.
'.The cotton yarn market is stin dull
and weak and some heavy cottons are
easing, but ginning hands and prints are
strong for spring delivery. There is a /
general agreement that cotton goods at
first hands are quiet. and commission men
are devoting their energies to pushing de-
liveries. which are becoming more easily /
as mills catch up with orders.
The wool markets are strong, in SYM
pathy with foreign markets, and staple
woods are well cleaned up"
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