The sun., 1919-10-18
TRADE SITUATION Is
MORE FAVORABLE
Reports Of Business and Indus
tries Show General I'm
provement.
BUYING HAS INCREASED
Reviews Declare Optimism Has
Grown in Mercantile Cir
cles Everywhere.

There is a more favorable turn to the
trade and Industrial reports received
sur,ng the last week by the trade re-
views according to this weeks articles
Gradual disappearance of the steel strike
and Increase in buying which followed
cooler weather has increased general
optImism which has prevailed for con-
siderable time u business and industrial
circles throughoht the country.
"Trade and Industrial reports" says
Rradstreets. "are rather more favorable.
Cooler weather. the advance of the sea-
ill previous orders, freer buying by Job
hers for next year, gradual disappear
ance Of the steel strike as a retarding
element, calling OF Of the longshoremen's
strike and resumption of export opera
tions are elements favoring wider trade
distribution. Less is heard OF price re-
duetions and some primary lines, as iron,
steel, cottons and silks, note demand i'm
proved with prices strong or higher. or
course the situation IL not without It's
flaws, chief of these being continued un-
settlement of labor. inefficiency resulting
In inadequate production in scores OF
lines and threat OF a tieup of bituminous
coal production by a strike set for Mo-
vember l.
"The stock market has had to cope
with higher rates for money. 8 to Is
per cent on call. Z to per cent. on
time. this week and is active, but very
irregular, while pressure OF cotton, grain
and miscellaneous export bills Is re-
feeted in weak and lower exchange.
Clearings are slightly below last week,
due to the holiday, but heavily In ex-
cess OF last year, outside cities showing
least reaction from recent totals. Fail
ures do not seem TO grow perceptibly and
collections are better than in recent
weeks While Government sales of foods
and clothing continue. and there are
sanguine remarks by public men on low
erng levels of values, records of whole
sale prices fail to show much recession.
As whole prices are steady. Cattle
are higher. while hogs are lower on the
week. The latter are at the lowest
price In two years. Brodstreef's Weekly
Food Inder shows nc change from last
} week. '- -t. t.-
Demand Follows Strike.
an Industrial lines the return Of strik-
ing steel men TO work and of growing
output in sections hit erto practically
tied up are accompanied by advices that
domestic demand hitherto held in abey-
ance is reassertiug itself. Pig iron is
more active, with a good deal of export
business reported closed. and some large
sales OF steel plates for .shipbuilders on
the Pacific Coast are reported. Belgian
buyers are said to have placed a large
order for steel billets within the week.
Il Is noted that premiums Of 81 and SO
are being paid for available iron. and
there seems to be general trade agree
ment that the main result OF the strike
will be added costs to the general public.
"ln textile features are active insis-
tent demand for final distribution. espe-
oially of cotton and silk goods, and this
reacts in more active buying by jobbers
from primary hands, with consequent
reflection in stiff or higher prices
Woollens and worsteds for men and wo-
men are active in final distribution, and
clothing manufacturers are reported ham
dicapped by labor troubles but in pri-
mary lines something like between sea-
son quiet is noted. Raw silk Is at un-
precedented levels and results of past
labor troubles are had in reports Of
silk fabrics being scarcer than cottons.
The cotton yarn market Is strong, ex-
cited. partly due to higher prices for
raw cotton, which is cents up on the
week on some poor crop reports and
enlarged export buying. Raw wool is
quiet, but prices are reported firm.
Leather markets are strong, sole
leather leading. with upper grades not
% active, while hides are quiet. Some
reported predictions of lower shoe prices
have been denied. and there seems moth
ing In sight to predicate a downward re-
action on.
Recent reports as to petroleum point
A. L. IN, n
consumption expanding fully as much"
Unrest Affects Every Line.
Dun's Review says: mo important
branch Of enterprise in the producing or
distributing field wholly escapes dele
terious effects of continued widespread
unrest OF labor. which prevents general
expansion of commercial activity that
stable conditions would stimulate.
Strikes on transportation lines In the
East have aggravated a seriously un-
settled situation, causing freight en-
bargoes and further delaying deliveries
OF essential commodities. Threat of a
valkout of bituminous coal miners on
November is another disturbing ele-
ment
with many thousands of workers
idle, outputs are not alone restricted and
the paucity of supplies intensified, but
increased firmness is impaired to prices
and Dun's list of representative whole
sale quotations, which recently disclosed
preponderance of declines. shows more
advances than recessions. The Is still
noteworthy movement of goods Into con-
sumptve cnannels, and operations OF
some interests are only limited by ability
to meet demands. There Is no general
dissemination to take In merchandise un-
der order and buying Of emergency char
acter has become more Of factor In
lines where production continues dis
organized by labor troubles. Bank clear
ings are heavier than ever at this period
and other statistical comparisons reflect
similar tendencies with he value OF
September building permits 2s4 per cent.
In excess OF the meagre figures OF that
month in 1918. In some branches new