The Birmingham age-herald., 1907-11-23
CONTINUED QUIET IN TRADE CIRCLES Conservatism Is the Rule In All
 Directions REACTION EXPECTED SOON Process of Reducing Inflated Business Conditions Is Going On Rapidly
 and New Basis Will
 Be Made.
REACTION EXPECTED SOON

New York, November 22-Brad- streets tomorrow will say:
 While a number of cities report that the tone of affairs has taken a turn for the better actual business, taki.e inc country as whole. shows an in- creased degree of quiet, both at whole sale and retail, working out of the continued scarcity of currency at some points, of lessening activity in industry and continuance of unreasonable mild weather, with it's natural effect upon distrib ution Of wear goods. There is evidenced in wholesale goods disposi- tion 10 do business for future periods and the large numbers of cancellations resulting from the past unsettlement are subject of widespread discussion.
 In some lines, notably steel, iron and cotton goods. traders generally have set their faces against encoura ging this movement and a hopeful sign is that some buyers who were stampeded early have since reconsdered tn cir action and asked that goods be shipped Still, buying at wholesale is in a high degree conservative and the disposition is to confine purchasing to present wants As to this latter feature, however, it might be we'll to remember that the day to day buying of so 0,OOO,OO0 peo- pie makes up a considerable volume in the aggregate and when conditions reach normal again maybe purchases early required cancelled or delayed may be reinstated and accepted. Retail trade feels the effect of the smaller movement of cereals from the farms, and although producers are reported more familiar with checks rendered in payment those now offered are drawback to sales,
 In industry the features are the working out more fully of the prompt slowing down tendency noted for sev- eral weeks past. the iron and steel industries, with their kindred lines such as coke and coal showing quick est results. The feeling is widespread that the sharper and quicker this pro cess occurs, the sooner the situation will right itself when confidence is fully restored. The lumber industry is quieter, and southern numbering and manufacturing operations are reported les scatlye.
 
 some attention has been excited by the requests made from some states that all creditors be lenient in order that the interests of all be protected.
 The currency premium lessened at New York early in the week. but later on became marked. The fact that de- mand in the interior keeps up strongly is possibly explained by the reports that country banks are taking in large quantities of currency but not making new loans and some institutions are reported to be carrying much larger supplies than are absolutely necessary. Business failures for the week ending November 21 number 263, against 259 last week and PIP in the like week of 1906.
 Canadian failures for the week number 25 as against 45 last week and 27 in this week q year ago.
 Wheat including flour, exports from the United States and Canada for the week ending November 2l tPortland, Ore, not received) aggregate 5,lOS,l4@ bushels, against 6.192.944 last week, and 4O25,073 this week last year For the first twenty-one weeks Of the hscal year the exports are S5,023,495 bushels, against 745S9,776 in 1906-07
 Corn exports for the week, 9oo,o2s bushels. against ], 1,133 ,4sS last week, and 5g4.S61 in 1906. For the fiscal year to date. the exports are 19,766,S9l bushels against 17,312.296 in l9O6-0H