New-York tribune., 1910-07-30
CONDITION OF TRADE.
.radstreet's saws

BraCStrScCS says.
Trade is still quiet as a whole; more SO,
indeed. IN some lines than was the case
last week, and quieter even than 0FqiflsIlLy
at this mdsummer period SLalis,-,s me sGiiZ ~
Wholesa Iers and jobbers, and retail 9r hnat
distribution is still disappointing, there are,
however some movements which indlcGte
more optimistic outlook in leading paslc
lines. Chief of these probably IS the shasp at,
upturn following heavy break IN ,,..i,3 stte
prices following recent advances, tendihg 10
point to better than recently indicated
weather and grain crop conditions Al
one time this week a well defined scare
developed as to the corn crop, due 10 tdlh
of dry weather damage. but this was large
the Southwest, seems to be passing through
a critical stage OF the season VIII idlrLy
good success. The dlsappearSancss Ss o. d, ntE ~
larger movement OF the harvested winter
crop was another event of the week Ihere
is noted this year, however, less activity IN
tbe interior milling demand for cash wheat
present SO noticeably in recently precedlns
years, which tends TO confirm the reports
of small advance orders for flour booked
nv rnilIers Reports from the cotton crop
are rather irregular, II not even contra
dtctory- Dry weather or IIT are con1-
planned of in different sections, but the
lower Mississippi Valley sends better re
ports The government crop report next
week is anxiouslv awaited. but the imr,e-
diate market reflection of the gloomy re
ports from the afflicted regions has oseLa q
Among the industries, features are the
rather better reports as to demand lor m
ished iron and steel copper, some ilaAss
Of cotton goods, based apparently on the
advance IN raw material and in raw WOOL,
which has sold actively. with heece grades
ing the opening of the lightweight Woollen
goods season by manufacturers IN inter
esting feature are the reports IN the press
of rather less active demand from manu-
facturers for automobile material
There is no lack Of evidence that the
business situation is much better than the
recent depression in Wall Street Would IN
dicate Moreover, the financial position IN
spite of the severe decline in prices OF Sc
curities to the lowest quotations since the
panic Of 1907, has been strengthened by lne
liquidation of large over extended synol-
cate while the New York banks nave
eTeatIy Increased their reserves. y notable
Improvement in business confidence TOOK
place in the latter part or the week; que
10 recovery in security prices. TO adVtceS
that much needed rains were falling IN crop
sections and to the excellent quarterly re
port of the leading steel producer Inc
iron and steel business IS, In 1act, very
good considering the recent conditions pre-
Vailing In the financial markets and the
uncertainty regarding the crops; dendiio
for wire tin plate and structural steel Is
particularly notable. Reports from the dry
goods markets are encouraging, IN view OF
the presence OF more numerous buyers ana
of an increasing demand for both cottohs
and wools radical change for the pet.
ter is reported in worsted wools- one OF
the tests of the situation Is the heavy
gross earnings of the railroads, whlch IN
three weeks OF July made gains OF ~ per
cent over last year. The June statements.
both gross and net. OF two of the Leading
transcontinental lines were about the pest
in their history. AS a whole however the
railroads made a better showing as 10 vol
une OF traffic than as TO profits. Bank
cleeNngs during the latest weeA dec1ned IN
New York. but outside of New YORK made
Substantial gains OF and 1L5 per cent
over corresponding periods in 1893 and 1908
Foreign commerce at New York amounted
TO SO 091. .223, as compared with S2S 0l6.3So In
the corresponding week of 1909 and with
sol M 6S1 in 1908. The imports were S+,3ll,lSl
in excess of the exports, as against an eX-
cess of IS. les. .664 q year ago. Altogether, as
the crop year approaches its crisis there IS
a noticeable disposition TO view the pros
poets of business with increased optimism.