New-York tribune., 1913-12-29

, concessions than of bottom stock. Efforts
are made by large upper tanners TO re-
duce the cost of raw hides ami skins. 80
that II will be possible to sell finished
leather at figure that R'ill compete with
cloth upper stock. There is more activity
in domestic packer hides than fortnight
or so ago. at about the same prices tina,
prevailed heretofore"
"Bradstrcet's' comments as follows:
Despite the evidence of cross currents
in trade and industry. the weeks basic
Developments seem to have been mainly
favorable. Certainly, evidences OF op-
tmism and i'm some instances OF re-
newed aggressive preparation for the ne"
year are numerous. Chief in bringing
about more favorable feeling arc the
brighter tinge Of affairs in financial lin,s
to which the passage Of the currency Dill
and the governments settlement with the
telephone interests have powerfully con-
trlbuted; the rather rapid retreat OF an
aggressive short interest In the STOCK
market, and the apparent ceasing oil
liquidation of securities, except from
ab.cal. Secondary to this are the signs
that wool manufacturers are still buying
literally of domestic WOODS In prepara-
ton for the change IN duties on goods
on January |. and the reports OF IN
creased activities in small metal lines III
some New England valleys.
HOLIDAY trade has naturally been the
main centre of attention in dlstrloutN'
lines and here the stimulus given ordl'
nary retail trade was visible, despite lhC
unseasonably warm weather east, W.s'
and northwest 1t Is generally concedeo
that holiday trade proper in most in
stances eauailed year ago, when. eX-
cept In the Southeast 1t was OF record
proportions. Retail trade has been in'a'
urahly helped by clearing sales oi sea
sonablc goods little earlier than usu"I
Jobblrc and the wholesale trade tendro
to quiet down as the inventory season
approached and the statesmen have come
home from the read. A continuance Oh
the sagg ne tendency in industry ah'
trade as a whole is still evident, and th'
warm weather affects demand for fuel
as shown i'm the Increase I'm the numpe'
OF idle cars reported. the laying OF o'
employees by some industries ana the
dueting down of out-of-dcor occupations
as the railways make seaSonabIe reduc-
tions i'm track forces Building OF course
is quietcr, more than seasonaolE so IL
some large centres. where past oNerOui'h'
ing of business structures rs eVideh'' 80
also iu suburban sections. where the pro
vlding cf small homes has outstrippeo
demand
while il is too early TO 20 into any
consideration of the years results III u.
tail. II is evident that many new reco'u'
Of trade volume and industrial outpu'
were set up in the year drawing 10
close. This is indicated by the reports
showing larger trade or output thah I"
1912 In many sections and centres fauci''
of speculation has reduced clearinss A.
the metropolis. but outside oi Ne" io'
the countiy's cloarings aggregate re'oiO
uroportious. Tho same Is true ol exp"
trade and Of trade as 4 whole thousi
i,,rorte have fallen behind 1917 kecoi'
outputs OF the country's coal ana copIe'
mines and pig iron furnaces are assure"
Cross railway earnings broke all recoru'
Inn net earnings fall slightly behind th'
1910 ,,,eregate. The first ten months "a'
= perlod of relative expansion over l'l-
the last two months fell behind. but tn'
feeling Is more optimistic as the year
draws 10 q close.