New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-08-25
ACTIVITY MAINTAINED
Unfavorable Crop Reports in
the West Not Reflected.

weeks was well supported. according 10
reports TO the commercial agencies. AL
though crops in the West are not as
bountlful as they were last year, a fairly
good corn crop is expected, and the bet
ter monetary conditions helped to improve
the buying movement considerably. Duns
Review" says:
Recent expansion in commercial activ
ity is generally maintained, although more
or less irregularity is manifest In reports
from the leading trade centres. The holi-
day season tends to restrict current de-
mands. yet the movement OF merchan-
disc continues liberal and the low posi-
ton Of stocks at all points leads TO in
creased preparations for future require
ments. Notwithstanding the deterioration
IN corn. agricultural prospects are favor
able and confidence Is fully sustained.
sentiment responding 10 the improvement
in the monetary situation. Enlarged Of
forinGs OF accommodations are noted at
recession I'm rates. and the forthcoming
distribution OF government funds is ex-
pected 10 prevent any financial strngency
this fall. The trend Of security values
was somewhat uncertain because Of CON
nicting advlces from Mexico. yet stand
ard issues show substantial gains over the
low point of the year. Best news from
mercantile channels emanates from the
wholesale drygoods markets. where the
steady buying by retailers has sweled the
volume Of sales above last years in some
important. instances The demand for
wool textiles is increasing and mill oper-
atoms are expanding. while dress goods
and coatings are active in all novelty
lines for fall. Spring openings OF dress
fabrics have commenced and prices show
less reduction than Is noted In mems wear.
Tanners Of leather are not carrying bur
densomc stocks, but current trade is quiet
as purchasers are closely confined to ac-
tual wants. While immediate business in
footwear is dull, confidence is expressed
regarding the future, and most manufact-
urers are quite busy preparing spring and
summer samples for next year Com
petition is becoming keener in some
branches OF the iron and steel industry.
and concessions in quotations appear more
general Manufacturers Of rails anticipate
early inquiries for 1914 from the trans
porting companies, and the shipyards re-
port that several important vessel con-
tracts are pending. Statistics of railroad
gross earnings for the first two weeks OF
August show a gain OF IS per cent over
a year ago and Of . per cent as com
pared with 1911. but bank clearings this
week We're 81 per cent less than last year,
although being G.j per cent larger than I'm
1911 Owing 10 a marked increase in ex-
ports the volume OF foreign commerce at
the Port Of New York FOR the latest week
was in excess OF 1912. while this nations
total oversee trade during July estab-
lished new high record for that month.
the balance Of merchandise shipments over
imports being fully $21.OOO,OOO.
Some increase appears I'm the demand
for iron and steel. with purchases. how
ever. mainly 10 cover immediate require
ments. Price shading is noted in sew
cral finished products. but In many cases
the reductions are unofficial New bust
ness In plates and structural shapes has
Increased ana 81 45. Pittsburgh, is gener-
ally quoted, although some concessions
from that figure are reported There is
good movement OF merchant steel bars.
and IN some instances mills are behind on
deliveries. while additional crude steel
capacity has not resulted I'm an oversip-
ply. The market continues firm. the mini
mum for billets being S26 so. Pittsburgh
and for sheet and tin bars S27 80 4 CON
siderable volume OF moderate sized rail
orders has been placed In the Chicago dis
frfrf mud 20 In oil
1000 tons OF open hearth for Brazil and
1000 tons Of Bessemer for Japan The
plate mills are interested in new Inquiries
received by the shipyards. which re-
port that negotiations are pending for the
construction Of eight new vessels No es-
sential change is evident in the pig iron
situation. demand being moderate in all
lines lrregularity prevails in the market
for scrap metals with consumers disposed
10 ask concessions.
Bradstreets has the following.
Optimism concurrent with good buying
furnish the keynotes for this weeks trade
report. Visiting buyers have held sway in
most Of the country's leading markets
and while those from parts OF the drouth
afflicted Southwest have operated rather
conservatively. the general run have
bought with more or less liberality In
consequence, house trade, especially I'm
dryRoods and allied lines, has broadened
perceptibly Buyers from Kansas are
more hestant than those from elsewhere
I'm the Southwest, but on the other hand
the leading market I'm that territory iudl-
Gates that purchases do not reflect much
II any, restriction flowing from damage
10 the corn crop, although centres directly
contiguous TO the drouth area evidence
the existence of caution. Taken by and
large, the situation is encouraging. and It
is patent that the prolonged policy OF buy
ing from hand 10 mouth has eventuated
in stripped shelves. az the result OF which
a reaction toward rather extensive buying
has set in. Advices from textile mill CEN
tres indicate that idle machinery is start
ing up, and at the same time complaints
OF slow deliveries abound. quite few OF
the reports indicate that trade exceeds
that done at this time last year. which is
saying n good deal. particularly when II
is recalled that business was then gaining
momentum. Notwithstanding political
activity. Because OF the activity in house
trade. road statesmen. as rule, are In to