New-York tribune., 1909-03-08

aging.the hope Of more profitable times IN gen.
eraI business circles.
IMPROVEMENT in Industrial affairs Is renecteo
in the decrease in commercial failures IN eA-
handing bank clearings IN larger railroad earn
ines and in q growing disposition on the part OF
consumers to come into the metal markets.
Lower prices for finished steel products ana lor
conner have already been effective in attracting
q better buving demand, and If ii Is found that
the current level marks the bottom active eX-
mansion soon will be under way. especlahy III
structural materials used by the railroads ana IN
building operations The cut in steel prices mas
been followed by a reduction in wages Dy one
steel company, but it is not believed there VIII
be a general decline in the compensation re-
ceived by labor. particularly skilled laoor' "hicn
doubtless viii be in greater demand IN the
course of the next few months. In building
lines activity IS reported the gain for the mohth
Of February in expenditures on this account
amounting to So per cent over January ana IoZ
per cent over February last year the largest IN
crease being at New York. where the total out
lay was 100000 larger than In the preceding
month and S17OO0O00 larger than IN the cor
responding time in 1908 Domestic and foreign
consumers of copper are practically pare Oh sup
plies. and present cheap prices for the metal
must soon induce heavy buying movement
In the textile markets conditions show little
change from those reported a week ago. Buyers
dIsplay a disposition to wait for developments
before ordering freely, and trade In most de-
partments continues relatively quiet A sub
stantiaI forward business has been booked, but
in the primary cotton goods division the move
ment in spring fabrics is over and current de-
mand is extremely limited. The best feature Of
the drygoods market and of markets in gen.
eraI. IS the hopeful and confident sentiment as
to the future. Heavy receipts of foreign woods
are reported and owing TO the small supply of
domestic grades interest is centred in the ar
rivals from abroad. which chiefly for manu-
faCturers' account, though fair sales are noted
by dealers. Speculation in cotton futures is
tive and prices are higher, the drouth in Texas
being an important factor in the rise as are the
heavier operations in the spot markets at home
and abroad. Large sales are reported at New
York. Southern points and at Liverpool, deal
ings ar that city exceeding expectations and
encouraging free covering by local shorts. Re
CeiptS of cotton last week 15OO14 bales,
against 12S9S7 bales in the week before, making
total from the beginning of the crop year of
S19O69a bales. compared with 6 1897 324 bales in
the corresponding period in the preceding year.
Further Improvement In the price Of wheat
last week strengthened the position of -four.
Buyers however, confined their purchases to
small lots, the theory that the higher quota
tions would not be maintained. New high rec
ords We're made In the wheat market. despite
an increase in the visible supply and the small
exports from the United States. European re-
qurements being filled chiefly by shipments
from Argentina. Local demand is active. and
the cash position of the cereal is strong enough
to warrant the enthusiasm that prevails In
bull circles. Coal prices are somewhat easier
and stocks Of anthracite are accommodating. with
less prospect Of a strike at the expiration Of the
agreement between the miners and the opera
tors. The shoe and leather trades are quiet but
prices for desirable leather continue strong
Raw sugar is steady and in fair demand, coffee
has been firmer, and lard has advanced as a
consequence of decreased receipts at Chicago