The Birmingham age-herald., 1912-10-19
PURCHASING IRON
 0N HEAVY SCALE General Price Situation Re- fleets Further Strength HEAVY CAR ORDERS
Demand for Rails Less Active-Busi- ness in States Continues to Ad- vance in Spite of Political
 Complications Abroad

New York, october 1s.-R. G. Dun X Co.'S weekly review of trade tomorrow will say
 Business activity in this country con- tinues to advance unchecked by the polit- ical complications in Europe and the fears they have caused abroad.
 Next to the assurance of unprecedent- ed harvests, the most gratifying business development is that the great expansion in the Iron and steel trade is proceeding without, as yet, any unwholesome devel- opment. The car shortage and the scar city of labor cause, however, more em- barrassment in some sections. Conserva- tism is shown in accepting future busi- ness. Most mills are booked ahead for practically six months on important prod ucts, so that new orders are not expected to continue at the recent pace.
 Purchasing of pig iron is on heavy scale, however, and the general price situation reflects further strength. Crude steel material remains in scant supply and quotations are very firm for virtually all finished descriptions. The new price list on black, blue and annealed and gal vanized sheets called for a rise of $1 ton, with No. 2S black sheets at s225 and galvanized at $40
 Additional rail contracts include 9o00O tons of open hearth for one prominent system, but the demand is somewhat less active, as a heavy business has been placed for rolling stock early next year. Orders for fully 5000 cars were awarded l.. pending.
 Dry goods markets are steady, despite lower quotations for raw cotton and a tendency to move slowly until after the election Repeat orders are frequent and for small lots, jobbers showing little dis position to allow their stocks to run as low as last year.
 There is still considerable curtailment of output due to scarcity of labor and shorter hours. Mills engaged on knit goods and hosiery are very busy and running overtime Dress goods and mems wear in woolens and worsteds are In an optionaly good position. Silk novelties are selling well. silk ribbons have been advanced
 The footwear markets are notably strong. Orders are now large and the majority call for early delivery. New Eng land manufacturers are fully employed and have urgent demand for early ship ment The same element of strength that has characterized the leather market for some time continues pronounced and sup plies are consequently short of requre- ments. The markets for hides continue very strong and prices are above all pre- viously established quotations.
 
 New York. october 1s.-Bradstreets to- morrow will say:
 The situation is one of sustained. in some branches of abundant activity In a word so many lines are far enough sold ahead as to invest the situation in general with high degree of assurance.
 Buying for immediate delivery is of heavy proportions, and calls for ship ments are as insistent as heretofore, thus indicating that stocks are scarce and that goods are wanted in hurry. At the same time, intermediate distributors are placing some orders for future ship ment, but, as matters stand, it is prompt business that possesses the more signifi- cant aspects. Shipping rooms of many of the leading merchandise houses are forced to work double turns to facilitate shipments. On the other hand, retail trade has not enjoyed a full share of the activity witnessed in other quar- ters. Mild weather in various parts of the country has initiated against dis trlDutlOn or Sldpiesi lnOuSn m sections where the weather has been seasonable, good turnover has been enjoyed.
 Industrial operations in the principal lines still are active. The iron and steel industry continues to move at very rapid gait Many finished products are sold up for six months to come, so that even if the pace of new business has abated a little the future can be viewed with more than ordinary equanimty.
 The price situation is especially strong Labor remains scarce which factor together with the increasing car shortage. restricts operations ard retards deliveries in multiplicity of lines other than iron and steel.
 Business failures in the United States for the week ending October IT were 1S7 against 372 last week, 25S in the like week of 1911. 197 in 1910, 244 in 1909 and 231 in 1908. Business fail ures in Canada for the week number 26 against % last week and 24 in the corresponding week of 1911.
 Wheat including flour. exports from the United States and Canada for the week ending October IT, aggregate 5,7S5.610 bushels, against 6,fi431,2sf last week and 2,541 GOA this week last year. exports are 61,354,372 bushels against 46,5S9, 2Ss ein the corresponding period last year. Corn exports for the week are 57,569 bushels against 60,050 last week and 631,612 in 1911. For the 16 weeks ending october IT corn exports are 1,195,622 bushels against 9,506,195