The Washington herald., 1908-01-11

New York, Jan. 10.-R. C. Dun & Co.'S
weekly review of trade tomorrow will
say:
Sentiment has improved in response to
the brighter outlook. commercial loans
being made with more freedom than al
any recent date AS much projected
business was only held back by inability
TO raise funds. the easier money mar
ket encourages expectation that post
poned contracts viii now be placed.
Many idle mills have resumed. al
though IN some cases only on part time
or force but the percentage Of idle ma
chinery has perceptibly decreased. Iron
and steel productions had fallen very
low before revival occurred, output Of
pig iron at the beginning of this month
being smaller than at any time in four
years. Retail trade is quiet, but buyers
are arriving in the primary markets. and
a good jobbing distribution is expected
during the next few weeks.
Mercantile collections are more prompt
Railway earnings in December were 104
Of 1906, and foreign commerce at this
port for the last week showed losses Of
S,20S,053 in imports and s77s.457 in ex-
ports, as compared with the movements
a year ago.
More Money In Circulation.
Money in circulation on January !
surpassed ali records with a per capita
average Of S35. IS. and gross gold in vaults
Of the United States Treasury has risen
above S960.000,O00.
Production Of pig iron in December
was only 1.234.27s tons. or little more than
one-half the 2,536,972 tons made in Octo-
Der There was a further decline IN
active weekly capacity on January 1 TO
232.652 tons. against 347.372 a month earlier.
and 528,l70 tons at the high record point
on July /, 1897, The present rate Of out
put is the smallest since January !. 1894.
when only 1885 tons were produced
weekly. This cuTtsilment Of output has
maintained prices fairly steady, the aver
age now being higher than on July l, 1896.
Although there IS no general activity
Ia the primary market for textiles, i'm
pIovement Is noticeable I'm many depart
inquiries. Buyers find accommodation
more readily granted. and as the credit
situation becomes better the inquiries VII
eliminate IN actual transactions. Less
IS heard Of any general readtustmcnt OF
prices. future concessions depending upon
the statistical position Of individual
fabrics
Commercial failures this week II. the
United States are 502. against e6s last
week, $50 the preceding week, and 5I1 tbs
corresponding week last year Failures
in Canada are a. against 80 last week
a the preceding week, and 20 the CORE
Spending week last year.
"Of failures this week In the United
States. 156 We're in the East 1872 South.
Ill West and 80 in the Pacific states.
and 196 report liabilities of 5000 or more.
against 113 last week Liabilities OF com
mercial failures thus far reported for
January are s5,1lI. 80. against s3.26s. 40 for
the same period the previous year
Bradstreet's Review.
Bradstreet's review tomorrow will say.
Financial affairs show further and
marked Improvement and money IS more
plentiful and easier TO obtain. bur the
gain in trade and industry proper is still
largely one OF sentiment. because bust
ness is quiet the country over. railway
earnings and bank clearings are below a
year. ago collections are slow. though
better than a month ago, ard industry is.
as a whole, on short time, with the larger
centers reporting a great number Of IN
employed
In trade lines the general report is
one of backward business. Mild weather
is still a bar to the widest activities in
scasOnable goods North and West. and
retailers are stimulating tagging demand
by reduction sales. and Southern trade
shows little more life than a week ago
Jobbers report trade quiet, and merchants
disposed to reduce stocks rather than an
ticipate requirements. Some lines report
after-hOIiday collections as better than
those OF December, and in some cases
better than anticipated, but they in few
cases are better than slow TO fair.
Some events of the week In dry goods
lines are of special interest. One is the
announcement OF revised quotations for
prints and sheetings by leading agents
the reductions varying. but being of con-
siderable volume. AS to cancellations on
spring business hitherto booked, there are
irregular reports received.
Another item is that some COnverters
who have OverbOught gray goods are can
ceiling and paying something for releases
from contracts In the wooden goods line
the feature is the opening Of woolens. fall
Of 1908. at slight reductions from the pre-
ceding season. Wool is quiet but steady
except where offerings Of off-grade induce
concessions