The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1908-02-29
TRADE IS MAKING
BUT SLOW PROGRESS
R. G. Dun and Co. in Report,
Has Some New Observa-
tons on Conditions.
LIMIT OF OPERATIONS
NECESSITY OF SOON REPLENlsH.
ING STOCKS MUST BEFORE
LONG PRODUCE ACTIVITY IN
ALL DEPARTMENTS

New York, Feb. OR. g. Dun & Cos
weekly review of trade says today:
Business holds the ground recently
recovered from the point of greatest
depression, but reports Of further pro
gress are sporadic. The best news IS
received from the West and South, and
more idle machinery has resumed at
the steel mills than in any other lead
ing industry. Many manufacturers
find orders scarce, and there is much
complaint OF high prices, while in job
bling and wholesale departments the
large attendance of country merchants
is not accompanied by the customary
volume of business Leaders operate
most conservatively, providing only for
urgent needs, but low stocks supply a
strong statistical position that must
eventually produce activity Ill all de
partments. Considering the storms
and holidays. February compares very
favorable with the month preceding.
Contracts for finished steel products
continued small in size but are more
numerous. and the aggregate tonnage
of new business is larger for the month
of February than in the previous
month, which in turn was slightly bet
ter than December. Quotations are
not materially reduced in order to OBJ
tain contracts, list prices ruling steady
and if concessions are made they do
not appear in reports, SO that the mar
kets remain nominally unchanged.
Dry goods jobbing houses are attend
ed by many outside buyers, producing
the appearance of normal seasonable
activity, but purchases are only for i'm
mediate needs With raw cotton
higher than it was year ago, and cot
ton goods cheaper, the producer is
more inclined to curtail output than to
cut prices still further. Inquiries con-
tinue to come from China, but little ex
port business is accomplished. and that
is done at private terms, probably be-
low regular quotations. Many buyers
have left the market for mems wear
woolens after placing only % per cent
of the normal volume Of orders. De
classes of goods.
New England footwear manufacture
ers report few supplementary orders
but the market continues inactive and
unsettled on the whole. Wholesalers
continue to reduce supplies on hand,
but local jobbers anticipate a good
business next month in preparation
for Easter trade. Heavy sole leather
is readily absorbed, but light-weights
are neglected, and accumulatiOnS are
obtained on concessions. Some in
crease is noticed in jobbing demand
for special lines, and betting butts
have sold more freely than at any
time for several months. No improve
ment has occurred in the demand for
hides and prices have declined still
further.
Bank clearings still denote a much
smaller volume of payments through
the banks than in either of the last
two years, total bank exchanges this
week at all leading cities in the Unit
ed States being S1,720,S 91.995. de-
crease of 26.1 per cent. compared with
the corresponding week a year ago
The week includes only five days in
both years. There is still large loss
Mt New York, Baltimore, Pfttsburg and
san Francisco, also a considerable de
crease At Philadelphia, Boston, Gin
cinnati, Cleveland and New Orleans
but at most Western points the loss
| is small.