New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-04
The Trade Outlook

Though contradistinct tendencies ap-
pear in some fields of business activity,
as a whole developments are of favor
able character, and. considering the
numerous problems which are being
met, the readjustment Of trade 20 war
basis seems to be proceeding salts
factorily.
Discussing the weeks events, Dun's
Review says:
Further restraints upon business have
been imposed by the intense heat over q
wide area, and some apprehension OF crop
damage has resulted. The effect of the
extreme temperatures has also appeared in
diminished manufacturing activity. with
curtailed operations at many establish
ments, and smaller numbers OF buyers IN
the shopping districts have reduced the
volume of retail distribution.
Aside from the torrid weather, progress
has continued impeded by the uncertain
ties arising from war conditions, and IN
some important branches there is rather
more evidence Of the midsummer luu
than was manifest last year. The strong
by the Steel Corporations unexampled
earnings, but in most industries regular
commitments are more or less restricted
by the present high costs Of materials and
by the doubts about prospective price re-
visions.
Yielding tendencies In some of the prin-
cipa commodities remain feature. though
this weeks list OF wholesale quotations
discloses more advances than recessions.
and the possibility that more definite re-
action may later be witnessed prompts
some interests whose needs are well
I.<< e. fOr 70
future. Yet the extensive and pressing de-
mands from governmental sources largely
offset the abatement of other buying, and
it remains the fact that most manufacture
ers are more concerned with the problem
of keeping outputs up 70 requirements
than with the question Of adding to ae-
eumulated bookings.
Complaints of the growing shortage OF
labor. especially of skilled hands, are heard
in many sections, and at a few scattered
points wage controversies have rendered
maintenanee of production increasingly
transportation, however. are now less in
frequent, though the drawbacks are likely
TO be intensified as movements OF troops
and crops become more general.
"Bradstreet's" says:
Ordinary civilian demand. as dis
tingu!shed from governmental wants. lacks
the snap OF rev months ago, ana on inc
whole buying operations for normal pur-
poses is streaked with more or less con-
servatism. Moreover, extremely hot
weather has exerted a retarding effect
upon sales Of final distributors, while at
the same time restricting outputs Of manu-
featured articles.
Nevertheless, fundamental undercur:
rents are favorable. optimism as to fall
trade reiRns. crop news on the whole IS
encouraging, prices for farm produce are
remunerative, railway earnings are larger,
bank clearings outrank those of one and
two years ago. large surplus stocks do not
apparently exist in any line. road sales
are relatively better than house trade, and
even though ordinary buyers, confronted
as they are by abnormally high prices.
are chary about making far-of commit
ments on a large scale, the indices clearly
show that business, whether expressed in
terms of money or physical volume, Is. ex.
cept in new grain movement, in excess OF
that done at this time last year.
In industrial lines very little is heard
about summer shutdowns, and while hot
weather the past week appreeiably re-
duced outputs, the foremost plant has To
do with scarcity of labor and concern over
the workings Of the draft law. Incidentally,
localized labor disturbances are numerous.