The Washington herald., 1907-05-04
COLD HURTS TRADE
Reviews Show Late Spring
Has Bad Effect.
THE STEEL BUSINESS IS GOOD
Ore begins to Move on Lakes and
Relieves sftuatiOn - sharp Ad-
vanees in Cotton Goods Raw Ma
teriaI-shoe Buying Trade Il Con-
sersative-Higher Prices Rule.
X. May s.-Dun.g Revlew g

New York, May s-Dun's Review to-day
says:
Spring retail trade is backward because
of the unusually late season. and tardy
distribution Of merchandise is also caus-
ing complaint Of delay in mercantile collec-
tions. but there is confidence that most of
the postponed business will be made up
with when the conditions become normal.
Dealers purchased freely from manufac-
turers in anticipation Of d record-breaking
season, aud deliveries are stnl coming
from the mills end factories, shipments
being facilitated by improved traffic con-
ditions. Movement of grain is also lib
eral. attractive prices bringing out farm
reserves. and the heavy freight business
is shown by the railway earnings thus
far reported for April. 14-2 per cent. larger
than a year ago. Manufacturers are active
10 all leading industries. most plants
working full time. and The outlook in the
steel transactions could hardly be
brighter
Iron and Steel Trade Good.
only favorable reports are received
from the iron and steel industry. new
business coming 10 the mills as rapidly
as orders are nlled. and few producers
are able 20 take advantage OF premiums
offered for prompt delivery. ore has
begun % move freely on the Lakes. and
the tardy opening Of the season VIII not
materially affect the industry. as prac-
[ tically all the years business Was closed
months ago. and the exact date OF de-
livery at the ports is not aignihcanL
Arrangements have been made for a
/ record year many new vessels eniarging
the carrying capacity.
/ In primary markets for cotton goods
I the only development Of Importance was
/ the sharp advance IN the cost Of raw
material. which tended 10 strengthen the
position OF producers who were resisting,
/ with increasing difficulty. the pressure 10
! accept lower quotations on distant de-
/ liyeTies. This forward business IS at reg
liar figures, which may be considered
/ lominally lower than prices paid for
/ some current shipments because Of the
/ premiums demanded when these urgent
| orders were being placed
/ ''As most Jobbers have concluded regu-
| lar store business they are not anxious
/ TO buy from mills.
shoe Buyers Conservative.
"Shoe manufacturers at the East find
I buyers very conservative regarding fail
| contracts. and some of the smaller pro-
duoers have offered small concessions
without securing business. On the other
/ hand. leading factories have sold some
heavy staple lines at "a TO cents ad-
vance over last years figures, which
makes the market irregular. Wholesale
houses are placing few orders. claiming
that since the brisk Easter business IL
March. johbers have shown no disposition
to replenish stocks.
Higher prices have prevailed at tn,
leading commodity exchanges. crop re
ports containing much unsatisfactory
/ news, and the possibility OF decreased
production. together with fully maintain
! ed consumption. had an unusual effect OF
I quotations. Trade estimates Of d cOnsId
cradle decrease in the winter wheat ylei,
/ We're supplemented In the speculative,
/ market by the readiness with which MAJ
deliveries at Chicago were absorbed
good export demand also helped 10 ad
/ vance wheat"
Bradstreet's Review.
/ Bradstreets report says:
! "Unseasonably cold weather still ham
pcrs trade and crop development, though
there is 4 slight Improvement noted il
the latter direction because OF the re
Ceipt Of ample moisture in the Southwest
To Offset this. however. it seems certain
that May 1st crop conditions viii shov
deterioration in winter wheat. Retail
business has been chiefly affected so far
but jobbers and wholesalers report tha
april trade as a whole does not equa
that OF april a year ago, though tn,
volume of business for the four months
period is considerably in excess of 1895
Collections are likewise showing som
effects OF delayed trade. while improvin,
where weather conditions have beer
temporarily favorable.
Bank clearings note q continuance o
April tendencies in showing decreases 70
a year ago at most large speculative cen
ters. but with the majority of cities stil
showing gains The coal trades have ben
efted by weather conditions thrOughou
a wide area. Railway earnings still shog
large gains in gross receipts, but AIarcl
net returns are irregular.
- feature deserving of notice is tha
grain and cotton prices are higher thi
week. continuing the advances Of las
week, mainly because Of poor crop ad
vances, but IN the case of wheat, also, be
cause European crop advances are no
much more favorable than in this coun
try.