New-York tribune., 1910-09-03
CONDITION OF TRADE.
Duns Review saws

Though there has been no pronounced
change in business conditions, and While
Guiet conservatism still prevails Vet t4e
movement in most departments or trade
aud industry is Indicative of increased
confidence and wider activity as the ran
season draws near The week llllpIoEEee- =
uent in iron and steel is indeed quite
notable. the heavier demand for pig iron
being especially proof of improved con
ditions IN the dTygoods trade, notwith-
standing the multitude or IDLE COTTON
SpindleS due to the high cost OF proCuc-
ton. there appears TO be a better distribu-
ton of merchandise The hlde marhet Is
also more active. Wool remains very
quiet Statistics of bank clearings for
August revealed at once the speculative
dulness and the fact OF q heavy moe
rnent Of products to supply the enormous
daily needs of immense population
which must be fed and clothed. whatever
the temper Of the markets. While the
August cIeaTingS a whole were 10 per
cent under those OF 1909. this was due
entirely 10 the big decrease in New York,
eysir During the last week there has
been a falling off Of 32.5 per cent IN New
York and of Il per cent outside. Rall-
road earnings in three weeks OF august
Increased 81 per cent The most striking
event of the week was an advance IN
August cotton to 20 cents, the highest
shorts but other months were not affect
ed and the crop adVlceS put the cotton
condition as considerably better than LAST
year. with q larger acreage. the condl-
ton Is however, under that of last month
The financial markets are more or less
under the influence Of political develop
ments 10 which they are peculiarly sem
sitive The Bank Of England's rate or
discount, contrary 10 some expectations
remained UNCHANGED. me NeW ! OH orK
demand for money. The crop advices are
ger reraIIy favorable. and however reduced
the Weld may be in some lines, the value
Of the aggregate farm products OF the year
promises 10 stand at the highest figure
The foreign commerce OF New York, IN
the latest week, amounted 10 S3l.171,199,
against s26.282.699 in 1909 and S25.149,0 ,029
in 1908 The imports were only s585,13l
in excess of the exports. a much better
showing than was made IN the correspond
ing week of 1909, when the excess was
S3.STT,24T-
Bradstreet's says.
Trade reports vary with sections report
ing and characterization Is rendered dinl-
cult by the cross currents visible in imam
cial, commercial and industrial lines,
Taken S a whole, a fair trade is doing ana
collections tend TO improve. but hlgh or
unsettled prices and irregular crop conQl-
lions are bars TO the fullest activity usually
witnessed at this season of the year.
Best reports as TO fall tohhing trade stu
come from the leading Western cities, and
there is apparent G fairly free movement
Of staples and an appreclable Improvement
in collections in the centres feenng me
impetus Of the unexampied movement
OF grain 10 market. At few Southern
centres TOO, there is trife more activity,
but from some Southwestern points ad-
home and that house trade is quteter.
Eastern centres testify to the influence of
the approach Of the fall season upon buy
erg but also return reports of conservatism
IN placing orders and of an unwillirgness
TO stock UP beyond present immediate
needs. Taken a whole, while business
at many Western centres is claimed 10 be
in advance of a year ago, other markets
show disappointment expressed at the pro-
portions trade has assumed. Retail trade
is cIassed as quiet as IS not unusual at the
close OF August a good trade has been
done in the aggregate, but largely under
the stimulus of price reductions. and there
is general disposition 10 hold high or un-
settled prices partly responsible for draw
backs found in some lines. Collections are
generally reported improving in the West,
even good at others, while only fair at
some Southern and Eastern points, and
positively slow at still others, notably IN
the south, where uncertainty as 10 the cot
ton crop outlook deters operations.