The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1907-09-11
COMMERCIAL ACTIVITY
FULLY MAINTAINED

:
commercial activity is fully main
tanned and negotiations for fall ant
winter trade indicate no loss of con
fidence, but at a few points thu
weather has not favored the crops
which causes conservatism pendin,
more definite information. Severa
New England mills lack adequate
water power because of prolonged
drouth, and the money market re
tards numerous undertakings. Col
lections are also slower in some case
because of the financial situation, bu
the large majority of reports are ia
vorable. Dry goods jobbing house!
are very busy, and in the cottor
goods industry the only complaint il
the inability to secure deliveries with
sufficient promptness. Specifications
on old contracts for finished steel en-
counter the. same difficulty, although
the mills show some Improvement as
to shipments, and in all leading man.
ufacturing branches there are fewer
cancellations than usual. Railway
earnings thus far reported for Au.
gust exceed last years figures by IL
per cent, and foreign commerce al
this port for the last week shows
gains of 5,211 ,691 in imports and
$S74,571 in exports as compared
with the same week in 1906. Farm
staples have advanced 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 securi-
ties, last years level being close to
the highest on record, whereas the
present position averages about $40
per share lower, despite a moderate
recovery this week. Time money is
scarce and abnormally high, although
events of the week were generally ia
vorable, particularly the release of
funds by the treasury and the de-
cline in exchange that removed any
danger of a heavy drain of god to
Europe. Bank exchanges at New York
for the week were 1913 per cent less
than year ago, owing to the large
decrease in security trading, but at
other leading, cities there was an
average gain of % per cent, which is
much more representative of COM
mercial activity.
New business constantly appears
in the market for steel products, and
specifications are large on old con-
tracts. Several important orders
were placed during the past week,
aggregating considerable tonnage,
and other plans are under negotia-
ton. Work On the Panama canal
calls for heavy shipments of rails,
and the railroads furnish many new
orders Most of this business is for
better quality rails than were for
merly taken, making the average
price of new business higher than the
old standard. quotation of $2S. Aside
from the unavoidable interruption
caused by a breakdown, there is no
decrease in activity of steel mills, and
better deliveries. This
tends to reduce the premium former
ly paid for prompt shipment, but
most plants have orders covering full
for the balance of the year.
of billets for use in MAX
ing finished steel for export testifies
to the difficulty of securing domestic
and is made possible by the
drawback
More animation in the jobbing dry
goods market has made still stronger
the position of the textile industries,
and manufacturers of cotton goods
easily maintain prices at the high
level recently established. Scarcity
of stocks is intensified by the holiday
of a week taken by the employees of
New England mills, deliveries being
still more unsatisfactory, and buyers
are less disposed to delay the placing
of orders, although frequently claim
Ing that prices should recede. There
is seasonable quiet in the primary
market, activity being transferred to
the jobbing division. Jobbers placed
orders with producers sufficient to
make stocks well assorted, but tardy
from the mills cause much
complaint. Although occasional in
quiries from China are noted, there
is no improvement in the export sit
uation. Quiet conditions continue in
the markets for woolens, especially
mems wear, and the moderate bust
ness in dress goods is not of char
acter to determine the next seasons
trend. The mills have only fair or
ders on hand, and machinery cannot
be operated full time during the sea-
son unless duplicate orders appear
more freely.
New England foot wear shops are
shipping at about the same rate a:
in recent years, since January l the
forwardings from Boston falling
slightly below those of 1906 ant
1903, but surprising all other years
But the volume of new business l!
now restricted by the cautiousness o
buyers, who are impressed by the de
cline that has occurred in hides ant
show a disposition to underestimate
ia and winter needs. Reports from
st. Louis indicate that trade at thu
southwest is fully maintained, blu
Ohio manufacturers note DISPOSE
ton to delay the placing of contracts
Leather is firmly held, despite thu
light demand, curtailed production
preventing accumulated stocks. Fur
Their declines have occurred in pack
err hides. No sales of foreign DIR.
hides are reported in this market
making quotations entirely nominal
Farm staples rose to still highe
level of prices, although there wa
nothing distinctly unfavorable il
crop news. Progress in some sec
lions has been retarded by cold o
rain, which makes the average dat
of maturity later, but the yield will
not be reduced unless frost come
earlier than usual. Western receipt
of 2,650,50S bushels of wheat for tn
week compare with 3,299,S06, Will
exports from all ports of the .Unite'
States, -four included, amounted t.
2,275,346 bushels, against 3,317,28
last year Arrivals of 1,S40,27'
bushels of corn compare with 2,909,
O79, and Atlantic coast shipment
were ZOE 29S bushels against 300,