New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-08-11

pacity. The easier conditions in the mono
tary situation have become more pro-
nounced, and interior institutions are buy
ing commercial paper with greater free
dom.
"A sharp decrease occurred in the out
put OF pig iron last month, and it is esti-
mated that the annual rate OF production
is now $500, 900 tons less than the high
point reached in February. There was a
falling Off of slightly over 5000 tons a
day during July, and the net loss in the
number OF active furnaces was sixteen,
according 10 The Iron Age Considered
as a whole, the situation appears more
favorable, although untitled tonnages still
show a reduction. There has been quite
fair business in pig iron, and advances
IL quotations Of Southern iron are noted.
Unsettled conditions still prevail in the
market for sheets. with price shading be-
coming general, and wire products also
lack frmness. Crude steel however, is
strongly held, as the demand is well sus-
tanned. More activity appears in steel
bars than IN the other heavy finished
products, with the purchases Of the lead
ing harvester interest calculated at APP
proximately 10000 tons. Extensions 10
the New York subway system have called
for considerable steel, while contracts for
25 900 tons OF car material have been
awarded in the Pittsburgh district"
Bradstreets. in tie following, covers
the situation:
While irregularity still pervades
trade, crop and industrial reports, and
fall trade seems rather slow TO get I'M
der Roadway, the underlying general
tone, except in sections where early ia
vorable feeding crop promise has faded,
is still highly optimistic. For this lat
ter a variety Of reasons are offered. Sc
curities markets at home and abroad
show an improving tendency, the money
situation reflects less tension. the coun-
try's wheat yield promises 10 be bum
per one. cotton crop promise as whole
is excellent, pig iron is more active at
higher prices. the tariff debate. though
dragging, still moves toward Its close;
the railroads are busy moving the first
OF the country's large crops to be
garnered and export clearances OF this
wheat are liberal There are, however,
enough spotty features in the outlook
20 prevent present and past conservative
management Of business affairs from be-
ing rashly abandoned. Measures Of
current or close TO present business
coming TO hand this week show that the
slowing down process reported in July
was tangible beyond dispute. Bank
clearings were shade under last year
for July. and likewise for the first week
OF August, but there is a small gain
this week OYER last, and outside Of New
York the excess over last year is COM
Portable one. Building affected by tight
money and labor troubles, sagsed in
July below recently preceding months
this year and last, and here explanation
is found OF the rather slack conditions
reported in the country's lumber trade
OF late Failures, while fewer than a
year ago I'm July. were Of full volume
for a summer month, and liabilities.
swelled by a few large bank and COM
mercial suspensions. were Of heavy vol
ume. The iron trade, while more active
for crudsr forms. is less so for finished
lines. in which production is catching
up with orders.
Trade pure and simple, shows some
curious ebb and flow movements. Re-
tail buyers have increased in number in
large Eastern drygoods markets, and
jobbers report more doing in their line
with this class of trade. In primary
markets. that is. first hands, trade IL
repressed in cottons, partly hy small
l. L -
lower prices for raw cotton, hut there
has been more done in raw wool, and the
feeling is better there because manufact-
urers, in buying raw material. both do
nestle and imported. give evidence OF
having got some lightweight business.
following the low prices made on
mems wear for next spring. In the Cen
trail West there is fair activity; in the
Northwest. with a large movement OF
fall goods 10 buyers and fair filling in
demand. jobbers are sending their sales
men out on spring account with appar-
ent confidence in a good spring trade.
From the Southwest there is rather more
uncertainty displayed owing 70 the fad
ing OF corn crop promise. caused by in
tense heat and drouth Ions continued.
There is some talk Of cancellat tons
there. but coupled. by the jobbers re-
porting same, with the statement that
the orders 10 hold or cancel are not so
numerous as the grain trade crop dam
age talk and price advances would seem
TO warrant. or had been witnessed in
previous years OF crop damage. Texas
trade reports are still highly optimistic.
and a .I0.0O0-bale crop of cotton is
still predicted there despite high tenn
pera lures and damage 10 late corn. Pa
clfc Coast trade reports are rather more
confident IN tone, while at the South ex-
cellent cotton. corn. rice and sugar crop
promise. though still not maturing in
actual business. II being rather early
for this. gives hope OF good fall and
a.