The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-11-16
CROPS ALL RIGHT
ARE MARKETED PROMPTLY.
TOO, AND HELP BUSINESS.
Trade Conditions Generally Show but
Slight Embarrassment from
Financial Embroglio.

NEW YORK, Nov. 16.-Dun's review Of
trade. issued today. says:
Dispatches from leading cities indicate
conservatism in preparation for future
business. and irreguIarity in collections.
with most favorable news from agri-
cultural sections in which the crops are
being marketed as freely as the supply OF
money will permit.
Return to normal conditions will be
FASTENED by large exports of farm staples.
supplying credits abroad upon which the
much-needed gold may be imported.
Official return. / icate that exports OF
this nature were valued at about $4,000
900 in October, and the outgo Of grain and
cotton is on a still larger scale this month.
1t is particularly fortunate that there
was not the customary borrowing abroad
this summer in anticipation of agricultural
exports. SO that payment is now due for
these shipments, whereas usually the re-
mittances are needed to meet maturing
bills in the exchange market.
Exports from this port alone for the last
week were $1.247, 769 larger than in 1906,
while imports decreased s2SS, 1856. Manufac-
turing returns show an increase in idle
machinery to prevent an accumulation of
stocks during the period of cautious buy
ing, and in some cases of lessened demand
and lower prices, wage earners have wisely
accepted moderate reductions In pay in
order to continue at work.
Railway earnings thus far reported for
the first week Of November show a gain
Of OF per cent. over last years figures.
and the quiet security market is largely
responsible for the decrease in bank ex-
changes at New York of 35.1 per cent, as
compared with the same week in 1905. At
other leading cities the decrease amounted
TO 20.1 per cent.
Financial pressure has affected the iron
industry. curtailing new contracts for all
forms OF finished steel. Few new orders
have been received by the mills, and some
deliveries on old contracts are deferred be-
cause funds are not available to meet spec
I ihcations. Production Is therefore re-
duced TO some extent in finishing depart
ments and very largely at pig iron fur
naces pending more settled conditions.
Primary markets for cotton goods are
quiet. although the mills are still well oc-
cupied filing old contracts. The buyer -
not placing new orders for distant delivery
because OF the lack of accommodations and
the necessity for outstanding resources,
while the seller does not endeavor to force
business, believing that offers at lower
prices would not attract orders, but would
tend to depress the tone.
Footwear factories note a slackening In
demand and output Is being curtailed to
prevent overproduction. Thus far the per-
centage of reduction Is not heavy, some
plants operating five days a week and
others seven-hour days. There is little eff
fort to force business, producers being
more concerned with clearing up old con-
tracts and collecting accounts.
It Is considered a good sign that new
orders are for quick delivery, indicating
that wholesalers are not carrying heavy
supplies.
Tanners report a quiet leather market,
some concerns receiving more counter
mands thai new business. but the statis-
tical position is strong because produce
ton has been curtailed for some time.
Prices are steadiest for sole leather, Of
which the output was first reduced, while
there is pronounced weakness in harness
leather, betting butts and glazed kid.
Little business Is reported in hides. but the
range of prices is distinctly lower, al
though largely nominal because of the in
difference of buyers. There is no business
in foreign dry hides, but receipts are
small because South American dealers are
holding back for better terms.
Erratic fluctuations in grain finally re-
suited In a substantial net rise for the
week, option trading exhibiting more ac-
tivity than for some weeks. Variations In
wheat were largely dependent upon the
financial situation, contracts being covered
when it was suggested that full cash pay
ments would be required In settlement of
maturing obligations at the end of the
month.
A good export demand readily absorbed
all the wheat that could be moved to the
seaboard, and farmers In the Northwest
made sales through the medium of ex-
change on st. Paul and Minneapolis thar
could be used in settlement of merchan-
disc accounts.
Western receipts of s,so7,OS1 bushels of
wheat compare with 6,0S9, $50 bushels In
the sam week of 1906, and exports from
all ports of the United States, -four includ-
ed, were 5.126, 1876 bushels, against S,S21,42f
bushels last year.
Primary markets received 1.2Sy, 961 bushels
of corn, against 3,64S.250 bushels a year
ago. while Atlantic coast exports of 1896
compare with $50. $50 bushels.
A liberal export movement Of cotton and
much holding back by planters tend to
maintain prices.