New-York tribune., 1907-08-31
CONDITION OF TRADE.
"Dun's Review" says:

in most sections Of the country commercial
tvity is fully maintained and negotiations for fall
and winter trade indicate loss Of confidence.
but at a few points the weather has not favored
the crops which causes conservatism pending more
definite information. Several New England mills
lack adequate water power because Of prolonged
drouth. and the money market retards numerous
undertakings. Collections also slower IN some
cases because Of the financial situation, hut the
large ma jority OF reports are favorable. Drygoods
jobbng houses are very busy. and in the cotton
goods Industry the only complaint is the inability
TO secure deliveries with sufficient promptneSs.
Specifications old contracts for finished steel
encounter the difficulty. although the mills
show some Improvement as 10 shipments. and in
all leading manufacturing branches there fewer
cancellations than usual. Railway earnings thus
far reported for August exceed last years figures
by Il per cent, and foreign commerce at this port
for the last week shows gains of s5211.691 in i'm
ports and s674.571 in exports as compared with
the week in 1906 Farm staples have ad-
vanced still further, notably wheat and cotton,
making a striking comparison with prices a year
ago which were unusually low The reverse is true
of railway securities last years level being close
TO the highest record whereas the present po-
sition averages about $50 a share lower, despite
moderate recovery this week Time money Is
scarce and abnornally high. although events OF the
week were generally favorable particularly the re-
lease OF funds by the Treasury and the decline in
exchange that removed any danger OF heavy
drain of gold to Europe Bank exchanges at New
York for the week were 1913 per cent less than a
year owing TO the large decrease IN security
trading, but at other leading cities there was an
average gain Of 80 per cent. which is much more
representative of commercial activity.
Crop and trade developments display irregularity.
rendering generalization difficult Extremes of
abundant moisture cool weather or continued
drotth are noted IN different sections, causing I'M
movement in some instances. arresting develop
ment in others. and IN places working damage OF
a more or less serious character. Fan 1oDDnS trade
has improved a most large centres. and from the
Northwest comes the report that goods ordered heto
back are now being urged for quick delivery On
the other hand, while come markets are well hlled
with buyers and lines report sales exceeding
a year ago, there is noticeable undercurrent or
conservatism in buying and there Is less than or
dinary purchasing OF complete new stocks OF NOR
chandse for enterprises Yet, again, there are
instances for example, in the Eastern leather ana
shoe trades where conservatism in buying early in
tho wear has resulted in curtament of production.
and now hurry orders for goods are noted Dry
goods and wearing apparel. such as clothlns shoes
and millinery Show chief activity befittng th5
season One leading industry that has Jagged for
some tirne-.iour nilling-shows increased activity.
and improved export demand for both hour ana
wheat at advanced prices is instrumental in caus-
ing an optimistic feeling that short yields Will De
orfset hv higher values Cotton also has advanced,
hut here crop uncertainties are as much an eie-
rnent as is manipulation for advance by specu-
lators for the rise here and abroad