The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1912-08-20
puN,s TRADE REVIEW.


The industrial and trade situation
fully maintains its recent improve
ment and a further advance in actiy-
ity is noted in the reports from the
leading centers. The remarkably +
favorable crop outlook at the middle
of August, when every day makes the
risk Of deterioration or damage more
remote, is the basis of the most optim-
igtic sentiment that has existed IN
six years. This optimism grows daily,
in spite Of the fact that prices, except
for declines in cereals and cotton, con-
tinue on a high level, still marking
consumers more or less cautious
There are other causes of conserFa7i
ton remaining over from the old, but
now disappearing, order Of depression, /
| but they are being overwhelmed by
the great tide of prosperity winch
seems to be rising in all sections OF
The country. The iron and steel trade,
lin all its important departments, con
itinues to expand, with further IN
lcreases in untitled business. The rail-
roads. with gross revenues in the hrstl
week of August ST. per cent larger
than last year, are actively preparing
for a big fall business. The numDe.
tof Idle cars has diminished and the
lcarrving of the increased business OF
Il the country is already becoming
: serious problem. The dry goods trade
Ia every branch. both cottons and
woolens, wholesale and retail, shows
< sustained activity, which is all the
+ more remarkable because this is the
midsummer season and because higu
2 prices still produce complications. The
lelothipg trade is excellent. Leather
and hides are very strong. In spite Of
1.-The high prices Of raw material, the
shoe trade commands an active con
: sumption. Copper production is at
high point. the July output oil rehne1
7 breaking all previous records. The Dig
Q break in the market for raw cotton IS
: one Of the notable developments OF
> the situation, because 1t is brought
:, about by the favorable crop news,
which increases the prospect OF
large weld. The wheat and corn sit
y nation lis also suspicious. New build
: ing operations are heavy. Bank clear
= ifngs this week outside Of New York
p Increased SO per cent over 1911 aanf
129 per cent over 1910; in New Yori
there was a decline OF per cent a.
:" compared with last year, but gair
Of f6.3 over 1910 Foreign commerc'
Of the port of New York during tn
: latest week was Of imposing proper
- tons aggregating s34,o13,23f, agains
! s29. 625, 497 in 1911 and s35,oS8.736 II
1gl0 The exports were s16,4f2,3T
- as compared with s13,677,459 in 191
- and sis,625, 635 in 1910.
Everything points to continuanc
OF the present activity in iron an
a steel. and the advancing trend G
90 quotations promises increased profit
Dis Ito the producer. Consumers OF pi
he iron are deyoting a good deal NOR
an attention to their requirements for tn
ole first half Of next year, but futnr
IS business is not readily accepted u
to less higher prices are offered. Bias
Iron is strong at $14, Valley, viii
Bessmer rules at s1350 and s14.7
I'M Valley Crude steel is becoming sea
is er and merchant pig iron furnace
see have practically contracted all Of Il
as output for the third quarter Bessem
,rn- billets are firm at s23, Pittsburg
the and open hearth at $3.50, Pittsburg
the Pressure for prompt deliveries is ST
She a significant feature Of the finish
of material situation and premiums a
nks promptly paid in order to secure qui
and shipments from the mills. Dema
for merchant steel bars, plates a
shapes continues to tax capaci
while tin plate and sheets are very
~. tive and there is prospect of an
in. vance in quotations.
tho, Well-maintained activity is still I
and leading feature in dry goods. So
be hesitation was caused in the colt
a Is goods division by the substantial
ndia cline in raw cotton, but the only eff
NOTED was a slight softening in pr
clothes. Drills, sheetings, duck {