New-York tribune., 1910-09-10
CONDITION OF TRADE.
nun : ReyieN saNs.

iilD = fAftAIfaN SLY
There Is a continuance OF former mixed
conditions Of trade and industry. which Is
less pronounced in productive sections than
ia the distributing markets II shows most
clearly in the speculative and financial cen
tres which are exceedingly sensitive 10
political influences 1t is felt in some in
GuStrieS more than IN DINERS, lHert pelIS
an uneven development Of trade. But In
spite OF the reaction 4 vast aggregate OF
business is being carried on. ahlng a
really high average OF transactions. The
profit Of commerce Is, however. NOT 50 eNl-
dent as its volume. the margin between
cost and prIce being narrowed and leading
in some cases, nGra bly, in cotton spinning,
10 suspension of operations While conSeT-
NatiSm among buyers makes for purchases
limited 70 current needs vet there j. no
sign OF any collapse Of confidence. the
crops are turning OUT much better than
was feared. the hanks are in secure posi-
rion and there is for the most part more
optimistic feeling ~ to the Immediate
future. in spite Of the approach OF the
somewhat critical elections. The chief de
veloprnent of the week is the Favorable
crop report, which shows for spring wheat
corn and oats a mUcn better condition than
IN August, and the Weld Of corn promises
70 be very close tC the three billion bUShel
rrfark-a magnificent showing. Stocks Of
wheat are becoming very heavy Prices OF
cotton and wheat are declining. The
somewhat increased demand for pig iron
Is maintained. The August output Of cop
per WAS the largest on record, with &C
oompanying expansion IN domestic demand
While The drTEoOds trade Is stil below
the normal, with continued curtallment IN
cotton milling. Yet better distribution IS
reported Railroad earnings in August in
creased % laer cent, but the trade reaction
reveals Itself II the record Of bank clear
jngs which Tor this week declined - ger
cent, compared with ear ago
Foreign commerce at New AoIE Glr-nA
the latest week S15.3y4j3s- as against 81
lao o7a IN 1919 and Sl9.-21 $40 in ff0s. The
o-neE's exports we've E-,553 "a laTgs' i.zn
=. 1915 ana tie imports gained %.-S..-.fl-
E.adscreet's says
Developments - tine HecE have n@en
11-seI= favorable. including. as they nave,
T-Dftor weather and crop reports. larger
.sietrtt,;tion Of fa1 goods by 1obhers and
g-er.o--s from some branches rf tie iron
md steel iT3He. some resumption of tex
.1C mills Until recently shut down. Il re-
.sfction n tHc number Of idle cars, and
shading III prices of leading farm products
due 10 better crops reports and larger
movement, leading 10 the hope Of re
,umptiou 5f export trade. An these have
com bined TO make for u rather more optt-
ruisr.c feeling IN general trade and indus
-r!al lines but in financial circles there is
Ett'e Apparent gain in activity or strength.
owing largely TO cCnunuan,e nf political
activitv. the rapid reduction Of money
supplies 1t the coUn-rE~ banking centre
and the fear OF pinch ia supplies Later,
with possible effect upon rates. tlcaTings,
despite speculative dulness, show q small
eT decrease from q year ago aS a whole,
and there is actual increase outside Of
The metropolis. Commodity prices this
week have eaSed somewhat, but thr mo. e.
and the level on September ] WAS the
highest there is record Of at That date.
Building aggregates for August make
better showing Of late, but this Il largely
dt.e 10 exceptional activity al one city.
Duluth snd excluding the VeTy large total
of that cify. building expenditures were
smaller than in July on ~ August year
$50.