New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-12-22
SLOWING DOWN
OF INDUSTRIES
Wholesale and Jobbing Business
Quiet-ChriStmas Trade Is
Fairly Active.

Wholesale and jobbing trade was re-
ported TO I've less active last week. with
a further slowing down in industrial lines
and irregular retail trade revealed by the
reviews OF the commercial agencies
"Dun's Review says:
with the approach Of the annual in
ventory period a general slowing down Of
/ business is TO be expected yet more than
seasonable quietness now prevails, both
! in commercial and industrial channels
/ Christmas sales compare fairly welswith
/ those Of year ago. although the activity
! is not general. In wholesale lines buyers
/ OF drygoods continue i'm a waiting atu-
/ tude regarding forward operations, the
! influence of lower prices for raw cotton
! having restricted future trading in
! finished products The market for wood
/ reflects an irregular demand. with manu-
! facturers showing no disposition 10 pur-
| chase in excess OF immediate require
ments. In New England the retail move
ment of footwear has improved and job
bing trade is fair. but some factories are
shutting down for stock taking purposes.
! The undertone OF leather remains firm
and there are no Accommodations Of stock
in any quarter Although the running
! schedule Of steel mills is likely 10 he re-
duced before the year end, producers
seem to be more confident as to the out
! look. Demand from the railroads is
broadening, and there has recently been
some large buying OF pig iron; hence, the
situation appears more encouraging and
producers are less inclined 10 grant price
| concessions. The final government esti-
mates Of agricultural results this year
indicate that vast amount Of new
wealth has been created by the soil. not
withstanding the decline in the yield OF
some crops; higher prices more than Of
set the loss i'm production. so that the
purchasing power Of the farming com
munity is really strengthened. 1t is also
gratifying that the outlook for the next
winter wheat crop is highly encouraging
the acreage being very much larger than
last vear-when results surpassed all rec
orCs-and the conditions the best in fulIN
decade past OF particular interest IN
the financial situation Was the fall IN
British consos 10 the lowest point in al
most a century, the decline being at
tributed mainly to the new security issues
launched in London. The loss OF 80 per
cent i'm bank clearngs this week. as com
pared with last year. is partly accounted
for nv the restricted transactions In the
stock market. put there was gain OF
O5 per cent over 1911. Gross railroad
earnings for the first week OF December
also made an adverse exhibit, the totdI
being so per cent less than year ago
and "A per cent smaller than In 1911.
Inquiries for pig iron are more numer-
Gus and some activity in basic grades Is
noted. In a general way. however the
situation reflects comparatively niue I'M
provement. and Pittsburgh adYces lhdi-
cate an absence Of strength IN practically
all finished lines The production OF crude
steel is about 90 per cent of capacity bdt
the bottom point appears TO have been
reached at $50 for bilets. with that hgure
ruling only for immediate delivery. quite
A good deal Of sheet bar business Is pend
ing in the Central West, but buyers are
reluctant 10 close al the quotations asked.
Rather close competition is noted among
! fabricating shops. but reports OF "A lower
price than 81 % for structural shapes are
not substantated. one prominent ran
road has ordered l2j,0JO tons Of rails' and
I some car works are also buying bars ana
rIates. with 81 10, Pittsburgh. quoted on
bar rollings There is considerable ac-
tiyity at Eastern shipyards, which nave
irouiries for six new vessels. A slightly
letter demand has developed for tubular
/ goods while the lower prices on wire
! ,roducts have accelerated buying TO Il
moderate degree. The scrap metal mar
ket continues depressed, and no Improve
ment is expected in the near future
"There has been no material decline IN
cotton goods prices, as comparatively lit
tie merchandise is available for spot de-
! livery and mills are still well engaged with
old orders Except on few cloths, how
ever. hesitancy in placing future con
tracts is pronounced.
Nearby footwear factories arc running
fairly close TO capacity. yet many other
producers are not well supplied with
orders and trade generally is quiet. OF
late iobbeis have not purchased as freely
] &C heretofore but manufacturers are re-
coiylpp good orders from retailers. As a
mic statesmen in agricultural districts are
more optimistic than those operating ~
,,snufacturins centres. Buyers from
many sections of the country usually visit
the BOSTON market early in January. and
New England factories expect to book
larger orders after that time very quiet
conditions are reported by local Jobbers
OHIO are mainly occupied in making ship
,ne,ts on previous contracts calling for
deliveries prior to Christmas. About
eyerv variety OF leather continues dull,
md tanners do not anticipate any better
,,,ept until the middle OF next month.
puvcrs have been unable to obtain any
concessions in sole leather but some
weakness has developed ~ harness
leather. There is also a slishuy easier
tendency in collar leather ana safes nave
heen made nj shading OF QUOTATIONS. oii
the other hand, sheepskins are III ac'Ne
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