The Birmingham age-herald., 1913-07-19
BUSINESS TREND IN
RIGHT DIRECTION
Cheerful Views PredOmin-
ate Despite Dull Season
ACTIVITY IN PIG IRON
New Orders for Steel Mills Well Main
tanned in VOlume-Labor, Aside
From Few Lines, Is Well
Employed

New York July 1s.-Dun's review
tomorrow will say
"The trend of business is still II
the right direction, even though pro-
gress is slow. This is ordinarily dull
season and various restraining fac
| tors curtail activity, yet encouraging
features are manifest and cheerful
views predominate. In the great croI
producing regions optimism is genera
owing to prospects of another pros
porous year on the farms. Eastern
financial markets recently have beer
confronted with an unusual array OF
adverse influences. yet ii is significant
that these have been largely ignored
and for a time this week securities ad-
vanced in an impressive manner SEN
timent responded to the agreement to
arbitrate the railway labor controversy
and the offerings of foreign funds al
this center, both of which tended to
offset the developments in the Mexican
situation. Changes in strictly CONNER
cial and industrial conditions are main
ly favorable, with Improvement in some
instances quite pronounced Wholesale
distribution continues restricted-as
usual at this time but warm weather
has stimulated the retail demand for
seasonable clothing and footwear.
Midsummer shutdowns of the steel
mills were of brief dura tion, as pres
sure for deliveries continues and new
orders are in well maintained volume
More activity is apparent in pig iron,
the buying movement broadening un-
der the stimulus of lower quotations
Traffic returns indicate continued gain
in railroad gross earnings over last
year--the increase during the first
week of July being "A per eent-bui
bank exchanges this week declined s.
per cent, owing mainly to the dullness
in speculative channels. There was
however, a slight Improvement of "a
per cent as compared with 1911.
Commercial failures this week in the
United States were 272, against 25O
the corresponding week last year. Fail
ures in Canada number 36 against 81
last year"
New York, July 1s.-Bradstreet's state.
ment of trade tomorrow will say:
Trade is quiet as a whole. condition
usual at this season, but despite tariff UNI
certainty, which has tended to deepen OF
late, and high rates of money, the needs
of nearly 100,000,O00 people from day to
day with necessary provisions for short
distances ahead make for very fair vol
ume in the aggregate. Best reports as to
activity come from agricultural sections.
while industrial centers, and particularly
the east, return relatively the slowest ad-
vices
Labor, aside sfrom few lines, is we'll
employed and midsummer shut downs in
heavy industries are no longer than usual.
Crop prospects in some sections, notably
the northwest and west, are such as to
stimulate fall trade preparations. Buying
in these sections is classed as good prob
ably better than a year ago Textiles are
still the center of the tariff storm, but
even here there is a lack of uniformity IN
trade reports, cotton and silk goods farng
better than wool fabrics, and even the
latter showing differences as between va
rous divisions of that trade.
Wheat including flour, exports from the
United States and Canada for the week
ending July II aggregate $3.50. 406 bushels.
against 5,176,622 bushels last week and L.
9S4, 456 this week last year For the two
weeks ending July II exports were S,T6-
OPS bushels, against 4.479S63 bushels in the
corresponding period last year. Corn ex-
ports for the week were 225,612 bushels,
against 81 992 bushels last week and a. 594
bushels in 1912. For the two weeks end
ing July II corn exports were 251.605 BUSH
els, against 170.773 bushels last year.
Business failures for the week ending
July II were 231, which compares with 2S3
in the like week of 1872
Business failures In Canada number "a,
compared with % the corresponding week
last year.