The Washington herald., 1908-02-08
TRADE RECOVERING
Railway Earnings Compare
Well with December.
SYMPTOMS ARE ENCOURAGING
Iron and steel Industry Is in Better
Position Than Previous Week.
Trade, Although Purchases are
Generally Made in Smaller Lots.

/ New York. Feb. 7-R. c. Dun & Co. s
weekly review Of trade tomorrow VIII
/ say
Little change appears in the COM
mercial situation, but it is in the right
direction in so far as any difference can be
discerned. Recent gains are maintained
! in almost every instance. ana a few
further encouraging symptoms appear,
notably the smaller decreases in rail
way earnings and larger forces at work
in leading business industries. Retail
distribution Of seasonable merchandise
was increased by cold weather in many
sections Of the country. but wholesale
and jobbing houses prepare for the
future most conservatively. Mercantile
collections are Irregular, some districts
reporting fairly prompt settlements, but
at other points payments are slow,
Liabilities of failures in January were
smaller than IN the preceding month, but
far in excess Of January 1901.
Railway earnings in January were
l4o per cent smaller than year ago,
although each week made better ex-
hiblt than the one preceding.
Iron Trade Improving.
"On the whole the iron and steel In
dustry Is in a better position than d
week ago, although new contracts are
placed with much caution, and each order
is the object of extensive negotiation.
Business that appeared several weeks ago
is still pending, and buyers have been
able TO secure smalr quantities of pig
iron at further reductions despite the
many meetings at which a large share
OF producers agreed 10 maintain quota
tions.
Aside from a moderate demand for
prompt shipments OF novelties or spe-
cial constructions, the primary market
for cotton goods is duh, staple lines being
almost wholly neglected. Purchasers con
tinue 10 await lower quotations, although
it is well known that supplies of many
varieties are small In all positions
This would seem 10 assure substantial
business in the near future. bat there is
no disposition 20 anticipate requirements
Commercial failures this week in the
United States are 3j6, against Ais last
week, iI6 the preceding week, and pa
the corresponding week last year. Fail
ures in Canada number Is. against s.
last week g the preceding week, and 30
last year. OF failures this week in the
United dStates 10 were IN the East, los
South, 81 West and Il I'm the Pacific
States, and IA report liabilities OF S5,000
or more, against li5 last week Liabilities
OF commercial failures for January are
S27,999.5lf, against $lS.6Ss l26 for the same
period the previous year
BTHdstreet's Review.
Bradstreets Review tomorrow viii
say:
While retail trade in some lines of
wearing apparel. notably heavy clothing.
shoes, and rubbers. has been helped by
the coldest or stormiest weather OF the
winter, other branches of trade and in
dustry and transportation have been in
terfered with sufficiently to make the
week as a whole a rather quiet one the
country over. Wholesale and jobbing
trade has been rather quiet, and while
there are signs that Improvement along
conservative lines IS making progress, the
caution as regards spring buying is as
marked as ever, and the country mer-
chants policy. even where most active
buying is noted. is in the direction of
small and frequent rather than large pur-
chases.
In the cities reduction sales are stTl
largely the medium for distribution OF
winter goods, and this feeling seems to
be spreading TN wholesale lines. Judging
from the reports of inquiries as TO
spring prices. Commodity prices as
whole are irregular. grain quotations
rallying from the depression OF last month,
but other lines show little strength, and
this week some metals provisions. and
cotton are lower. with most other lines
a weak tone. Cotton goods are
no lower but raw wool sales are largely
at concessions.
Best comparative reports as to trad,
come from the Northwest, which a year
ago was blocked with snowstorms and
with traffic greatly congested. From the
Southwest come reports that some can
celed orders are being reinstated. From
tbe South come advices of slow trade and
but some lumber mills are re-
ported resuming with stocks reduced by
the recent shutdown. Collections from the
South feel the effect of cotton holding.
Eastern trade reports are quiet except
where helped by special weather-born