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Lilies 40 | 39 | 39 | 39 | 38 | 38 | 93 | 2222 | 2210 314 | 2524 | 22% 2.14 | 23  2 27 ae 49 | 50 49%4| 45%) 48%] 48%4 4744] 4732] 484z) 48 | 4522 we | ee | we | RCT 56]01%4|10144//101 | 9926) 994e} $8%5) 95 | 97 PSE fr [PS | Gee] “Ge “eeel] Gea) “oy 55 | 55 | & ‘ 5 Dy sepsis a naa 171 [16954 }170%4) |169% | 166 44 | 166 75} | 16722  | 84 || 52%) 52%] 62%] 5920) 5214| 52%|| 1 | 51 Pe ee 64 | 64 | 64 68 | 638 | 63 || 63 | 62 | 68 eG See (Se 4442] 43%| 4842| 4242] 40 | 42%6|/| 41%2/ 3919) 40% sav [yes velites 8842] 882g] 8842] 8512] 8539] 853a] -. | -- | -- i poe | Ee -- | -. | -= |{l00 |200 /100 ||105 |100 |103 8614| 8624| 8624|| 86 | 84%2| 85 | 85 | 85 || 84%| 84 | £43, 21%| Qa} BL4y| 2a] 2142} 2142 21% 70 | 20. 6642) 65%! 6542 100 | tv 100 a 198 198 | 198 || 2 13349 131/133 | 1323 1227g/121 121 12044 5U | 47'2| 48 7 eee | ale al lren 4144) 4042} 40%3|| 4040 365 (865 | 3865 a Se Macken (lemon (INN 82 | 81 | 81%]! 8144 Ba een td tS 81 79 78 78 <3 14013849 |138 4] 141 126% 12549 /126 127 3100 | 100 | 100 $9 pe See | ean tos 28'o| 28 | 28 2742 127%4'126 {126 |/12625 917%} 91 91 9144 7048 704s 7025 701g 5G | 55%] &6 || 4549| 44 | 44 || day 94 4 94 94 164 164 | 164 || 164 = -- 1, 5214| 51 | 51 | 50 96 | 98 | $8 gS, 1243, 118%5| 119 124 es eae les 89 ee hs Vee 88 29%4| 27. | 2744| S74 96 | 9534| 9535| 9515 2419] 22 22491] 225, 53 5134| 52 5249 3934/39 | 39 | 39 Fe ll Pea | ee 6i | 564| 60 || 592 87 3| 851 8519 86 117 /116%4/117_ | | 11729 2432] 202g) 207.) 223, 76 | 69 | 7Ca/| 7615 ee al aa 92 one New York, we see the point 7934 7934 7934 77 8142 3034 3 303, Bee, the place of 9834 28 9K 3, 28 4534 4544 4853 98 9742 9742 9729 “60| -642| 6% “61 5514 5544 5544 2. 1168 14454 164 7% 160% $1 | 91 | 87 | 52%4 48 | 50 ||. 6344| 6h | 61 60 2 397) 397%]! 41 ae a ae 85 85a| 84 | 84 |] 84 18 18 18 184% = ee es 54 4815) 46%] 4740]| 4754 10434 1u4 |1044/]105 | 75 7432) 75 753, 423,) 40%) 40'o|| 40% 1242 Lt L4g 10142] /101 29) 31 801g) 30's]) 30 106 [106/106 |/10549 70 | 669) 66'5)| 66 1494] 14%) 14%4|| 143, 2934] 29'4] 2944]) 2834) 270 |270 |270 om Seeks Ibe eOSp = = ie 150 1024) 1044) 10%4|| J0% 2 27g] 2742]! 279 sé nie = 16 ne re = 181o 414g! 4122) 4i49]| 41 5334| 61la) 5134 8645) 84. | 84 /109 |109 | 9642] 9622 | 9955) 995, . Mar.8 - J = ae es N16 23 23 118 4/119 70 7049 6872) 684% 99 | 99 205%| 203, 11245 |113 1364)|137 40 | 40 68 | 68 71 72 £0 | 80 116 44/1164, 6334 65 13245] 132% 118% | 11834 46 464 A }180 |180 | 3935! 40 99 99 12339/123% 9044| 90%, 70e| 7045 42 | 42 93 94 164_ |164 lal % 4875] 494s 9814} 98% 11642] 120% 59 89 88 | 88 2644] 2615 95 | 95 | 2134] 21% Sits) 514 3795| 38% 3 | 33 58 | 5844 11772)1172 21 | 21% 70 | 725 92 | 92 140 |142'2 75 | 75 30 | 30 97 99 a a 642) 622 60 | 60 3974) 40 85 | 85 8354) 8354 18 | 18 54 | 54 465! 4744 14 |105 7434) 7555 38 | 38 2934) 295 Shares sold this week 3,300 36,010 200 11,850 30 570 815 17,155 1,212 3+0 546 700 120 1,145,575 700 154 BRADSTREET’S, SATURDAY, MARCH 9, 1907 STATE OF TRADE. A Summary of Special Telegrams to BROADSTREET'S. Trade conditions continue to improve, the tendency in this respect being the direct antithesis of that displayed in the stock market, where prices have been moving downward at a rapid pace. This movement has given rise to some pessimistic sentiments, but it is noteworthy that consumption of commodities throughout the country is going on at an enormous rate, and that high prices seem to have little, if any, effect on demand. At the moment country buyers are in the larger markets in goodly numbers, and the volume of house business done is of excellent proportions, exceeding in some lines even that of a year ago, when business was exceptionally brisk. In fact, all wearing apparel are in the forefront. Dry goods, millinery, hats and caps and, as regards activity, an early Easter making for an early opening of spring trade. In such lines as cotton goods, some of which tend to further advances, it is not a question of procuring business, but rather one of making deliveries on orders booked months ago. Retail trade is opening up quite well, except in the east, where weather conditions have been unfavorable to shopping. As regards manufacturing lines, it is the old story of heavily filled order books and of capacity being worked to the utmost, despite which deliveries are backward. Country banks are in good condition and are in a position to maintain large balances in the city banks if they see fit to move. Money rates hold firm on an active demand and rather poor supply, though satisfactory in some lines, are, on the whole, very backward, the tightness of money and the enormous volume of business. The outstanding outstanding being the main factors. Business in foundry pig iron, taking the country as a whole, is of fair proportions, but nevertheless, the disposition of buyers is to await concessions before buying for future wants. Here and there easier prices prevail, but, on the whole, sellers are remarkably firm in resisting declines. At the south, business is somewhat more active for second-half delivery, and where contracts have been booked, the basis was $18.50 for No. 2 Birmingham. Within the week, the leading interest bought 5,000 tons of Bessemer pig for delivery this month, the price being $22, valley furnace. There is still a paucity of steel billets, a leading concern finding it necessary to purchase 5,000 tons from a new eastern plant, but, on the other hand, prices are off 50 cents a ton at Pittsburgh. A sale of some 6,000 tons of sheet bars for export the last quarter of the year is reported, and further negotiations are said to be under way. In finished lines, activity is the keynote—full or overcrowded order books. Practically all the lighter lines fetch premiums where fairly prompt delivery is demanded. It is expected that a large tonnage of structural material, considerable of it for railway bridge work, will be placed this month. has canceled an order for 4,000 cars and 100 locomotives. Coke is easier, the supply being heavier. Anthracite coal is in active demand, owing to weather conditions. Supplies of bituminous are more liberal in the west, but higher freight rates make for steady prices, while in the east the trade is working into a better position as regards prices, but deliveries are backward because of the weather and the car shortage. Copper is dull but higher, as supplies are even lighter than they have been. Prices of staples show little sympathy with the downward tendency in security quotations, and in the past month the drift has been rather upward. For the week the features in staples deal in speculatively are the strengthening of prices of cotton and coffee and the irregular steadiness in grains. Bullish manipulation of an unquestionably very strong situation as regards trade and consumption is credited with causing the advance of 25 points in futures and of 20 points in spots this week. The unprecedented demand for cotton goods, with the highest prices in a generation, is a stimulus to bullish feeling as regards the raw material, offsetting at present the heavy receipts of old crop and the reports of a large acreage to be planted the coming spring. Wheat, corn and oats eased early in the week, liquidation and short selling on the recent advance and liberal receipts at the interior, with an absence of crop damage reports and export demand, being reasons assigned for the weakening. After a sagging of about 1 cent, however, the situation strengthened slightly, and practically the entire loss was recovered. Bad crop reports and green-bug damage. In the southwest, chiefly caused an advance of 1 cent on Friday. The fact is that the trade generally is just now speculating as to the size of the reserves held by farmers on March 1 this year, to be published early next week. Corn and oats similarly weakened, and strengthened later in sympathy with wheat. Stocks of wheat in farmers’ hands a year ago were 158,000,000 bushels, or 23 per cent. of the crop; those of corn were 1,108,000,000 bushels, or 41 per cent. of the crop, and those of oats were 380,000,000 bushels, or 40 per cent. of the crop. The year of record stocks of wheat was 1899, when 198,000,000 bushels were held; that of corn was 1897, with 1,164,000,000 bushels, and that of oats was 1904, when 365,000,000 bushels were held. Coffee continued the strengthening movement which began on February 20, and which caused an advance of 100 to 115 points on nearby futures. Dealings to realize profits brought about a slight decline from the extreme advance, 10 to 20 points being taken off from Wednesday onward. Sugar has shown a disposition to improve further, raws advancing about 20 points on slightly smaller Cuban movement and good reports as to demand for refined, which is unchanged as regards prices, however. Heavy liquidation and severe declines started in the New York share market this week have not been followed by any general or decided rallying tendency. The market continues nervous and depressed, sentiment being influenced both by the talk of renewed friction among prominent interests and of the closing out of enormous speculative and investment accounts for such parties. The railway share list, particularly the higher-priced stocks, bore the brunt of the movement, one of the sensational features having been, however, the rallies in Reading shares on short covering, attended by uncorrobo. The bond market has been dull and depressed. Foreign trade rumors of buying for control. Exchange shows a weak tone, demand sterling being 4.84.45. Eastern shoe and leather manufacturers report trade quiet. The key of the situation is the spring demand, which so far is behind a year ago. Some factories are well caught up, and unless trade improves a short manufacturing season is looked for. Shoe shipments are 8.6 percent behind 1906. Farmers are reported curtailing product, as much as $1,000,000. Leather is quiet, and sole leather to bring prices of their products up to a parity with raw material as because of small takings by shoe manufacturers. Hides are easier and buying is of a hesitating character. Bank clearings for the week ending March 7 aggregate $3,451,304,000, 34.5 percent over last week and 5.7 percent over the same week last year. More active stock speculation explains a large proportion of the increase. Outside of New York exchange amounts to $1,247,512,000, 22.6 percent in excess of last week and 1.6 percent in excess of last week. Per cent. over the corresponding week last year. Business failures for the week ending March 7, Scrap dealers also report a quieter business, but number 172, against 194 last week, 177 in the like week of 1906, 190 in 1905, 200 in 1905, and 176 in 1903. Wheat, including flour, exports from the United States and Canada for the week ending March 7 aggregated 2,251,303 bushels, against 2,857,420 bushels last week, 2,563,983 bushels this week last year, 1,285,956 bushels in 1905 and 4,095,944 bushels in 1902. For the past thirty-six weeks of the fiscal year the exports are 123,924,831 bushels, against 97,142,655 bushels in 1905-06, 44,703,372 bushels in 1904-05 and 185,525,588 bushels in 1901-02. Corn exports for the week are 2,631,572 bushels, against 3,360,456 bushels last week, 2,394,445 bushels a year ago and 1,756,706 bushels in 1905-05. For the fiscal year to date the exports are 45,315,183 bushels, against 86,817,163 bushels in 1905-06 and 48,129,937 bushels in 1904-05. IN CANADA. In Canada, as in the United States, the textile trades show greatest activity, and business is apparently limited only by the capacity of mills to deliver. At retail, winter weather makes for a fair degree of activity despite the advanced stage of the season. Predictions as to the present year are in a high degree optimistic, special activity being looked for in railway building and house construction. Labor scarcity is even now a bar to fullest activity, and there is talk of employing Asiatic labor on the new transcontinental line. Railroads are reported short of rolling stock and engines. Toronto reports leading jobbers contracting for entire textile-mill outputs for 1907. More buying for spring is reported in Winnipeg, confidence is marked, and collections, hitherto and still rather backward, tend to improve. Warmer weather has helped trade in British Columbia, and collections are good. February failures and liabilities fell 10 and 30 per cent. respectively behind 1906, Clearings at eleven cities for February gain 2.4 per cent. on last year, while they are 5-7 per cent. ahead for the two months’ period. Failures for the week number 21, as against 42 last week and 34 in this week a year ago. Weekly clearings aggregate $79,661,000, an increase of 15 per cent. over last week and of 10 per cent. over this week a year ago. TRADE REPORTS. Business in the New York dry-goods market is large, cotton goods especially being in good demand at well-maintained prices. Silks are very active at steadily improving prices. Collections generally are good. Manufacturers of shirts and waists have orders booked that they will keep them busy for months to come, and sales contracted, but not delivered, of hosiery, knit goods and gloves will about use up not only what stocks are on hand, but also what can be manufactured during the balance of the spring season. While prices are still high and some lines of merchandise scarce, the feeling prevails that they will not go any higher. The millinery trade is fairly prosperous, ostrich and fancy feathers are in good demand, and advance sales of women’s spring hats are satisfactory. Business in rags and shoddy is practically at a standstill. Business in the wholesale grocery trade is satisfactory. In confectionery business is satisfactory, but collections are slow. Enormous receipts of eggs caused a drop of 8½ cents. Flour is higher, with jobbers and dealers buying more freely. Supplies of both live stock and dressed meats equal the demand, which is firm and steady. Official statistics show that American-made automobiles are rapidly superseding foreign cars in this country, and business is active at firm prices. The hide, skin and leather market is quiet and trade rather dull, but prices are very firm and upward. Weather conditions help the rubber goods trade to clean up stocks. Orders for china and glassware are very liberal owing to the presence of many out-of-town buyers. Weather conditions restrict the volume of business in hardware. Iron and steel are easier. Buy The pig iron are less numerous and prices less stiff. Steel merchants and electrical goods manufacturers find a brisk demand for their goods. The latest advance in the price of paper has not checked trade, and the demand for the different lines continues. Furniture and carpets are quiet, and complaints of slow collections are heard. Real estate is fairly active. In the building trade, plans filed are mainly for mercantile structures. Shortage of cars is still felt in the lumber and building materials trades, in which commodities prices are generally firm, and in some lines higher. Collections are more or less slow. The following telegrams show trade conditions at the cities mentioned for the week ending March 8: Boston.—Trade in dry goods is brisk. Backward deliveries of cotton goods are a source of complaint. Bleached print cloth is higher and sales are heavy. Dress fabrics are active. Leather is only fairly active. Hand-to-mouth buying prevails. Hides are weaker. Shoe manufacturers are only fairly well supplied with orders, and supplementary orders continue disappointing. A short season is expected; shipments dropped back. Nitrate of soda is in little better call. There is a fairly active demand for both grain and wood alcohol. Drugs are in seasonable call. Quinine in jobbing quantities is moving well, but opium is rather quiet. Dyes and tanning materials show no particular activity. There is a fair demand for house furnishing goods, and prices remain firm. Collections, although a little easier, are still slow. Turpentine has advanced 1 cent. Orders for builders’ materials are in sight as soon as weather conditions improve. Copper and metals are quiet. Old metals are active. Lumber prices are firm and demand fair. Anthracite coal is fairly active on account of cold weather. Bituminous coal shipments are badly retarded on account of weather conditions. Wholesale liquor dealers report satisfactory trade, rectified whiskey is in good demand. Beer and ale are in increasing demand. Collections are fairly easy. Leaf tobacco continues to advance and dealers are buying for immediate requirements. A further decline is noted in the price of eggs. In the general provision trade and collections are rather slow. PROVIDENCE.—Demand in the machinery and tool line is firm, and difficulty is experienced in securing deliveries. Cotton goods remain high and scarce. Conditions are good and collections fair. PORTLAND, ME.—Snow averages three to five feet in depth throughout the state. In consequence, the roads in many places are almost impassable. Country trade is curtailed, and jobbers report business quiet, and in some instances less than a year ago. The snow will have to disappear before active demand from country districts sets in. Conditions have been unusually favorable for lumbering, and an average cut has been secured. NEW HAVEN.—Business in all manufacturing lines continues in large volume, and heavy future orders are reported in practically every instance. Owing to weather conditions, demand for builders’ supplies has decreased materially, but reports would indicate considerable construction work ahead, with a consequent good demand for materials. Wholesale dealers of foodstuffs report a good volume of business and markets generally firm. Money is obtainable at regular rates. but collections appear to be quite slow. PHILADELPHIA. — There is little change in textiles. Manufacturers, with the exception of the ingrain-carpet trade, have apparently all the business they can care for, and some mills are sold ahead for six or seven months. Dry-goods jobbers report a fair trade, but collections do not seem to improve. Flour is weak and business dull. Chemicals and dyestuffs are somewhat draggy, with little change to note in prices. Paints and glass are a trifle more active, but the market rules dull and featureless. Lumbermen report business good at steady prices, but there is only a moderate shipment of material, due to the weather. Hides and skins continue firm, with fair demand and good supply. Goatskins are firm, with fair demand, short supply and high prices. Glazed kid continues firm on fair demand. Leather continues strong though less active, and high prices prevail. Wholesale and retail shoe dealers report business quiet, but look for an improvement with the advent of Easter. Tobacco is less active, and new business comes more slowly to manufacturers of cigars. The scarcity of goods is expected to keep prices of leaf high. Liquor orders have been large and numerous through January and February. Good - A quiet tone prevails - BRADSTREET'S, SATURDAY, MARCH 9, 1907 Weather conditions being favorable. The strength of the iron market is maintained, pig and finished materials are active, and immediate deliveries command an advance in price. Continued cold weather makes the demand for domestic coal good, and the bituminous trade is fair. Pittsburgh.—The only transaction in the pig iron market during the week worth mentioning was the sale to a leading interest of 5,000 tons of Bessemer by the merchant furnaces of the valley for March delivery at $22. The market continues strong, and there is no evidence of any weakening on present quotations for second-half delivery. The spot iron supply is now very limited, and it is expected that a largely increased inquiry will shortly develop for third and fourth quarter iron. In finished lines there is still an optimistic feeling, and the market, if anything, is stronger, and the end of these prosperous conditions is not in sight. There has been a free movement of coke, and while there is a heavy demand, the supply is ample, and prices remain unchanged. Pig iron for spot delivery is quoted as follows at the valley furnaces: Standard Bessemer, $23; chilled basic, $22 to $22.50; No. 2 foundry, $24, and gray forge, $21.75. Standard Connellsville furnace coke is quoted at $3.25 and foundry coke $4 to $4.50, at the ovens. The general merchandise situation continues satisfactory and the outlook is considered favorable. Buffalo.—Jobbers report conditions generally good. Collections are up to the average, and staples are in good demand. BALTIMORE.—House trade has been stimulated by the presence of large numbers of buyers. It is difficult to procure deliveries of ginghams ordered last fall. Scarcity of labor, heretofore largely employed, is greatly felt in the shirt, overalls and umbrella lines. Buyers from the eastern portions of North and South Carolina are buying sparingly, but western sections are taking the usual quantities. Manufacturers report the usual volume of business for the season in umbrellas, but orders for parasols are sufficient to keep them busily employed for several months; prices continue high and deliveries slow. Large stocks of harness, due to heavy buying last fall, have been carried over; demands for immediate wants are very moderate. Brush manufacturers are ahead of last year on orders and are working to full limit, but there is some complaint of slow delivery of raw materials; prices are steady, Woodenware jobbers are busy, business, at firm prices, being fully up to last year's. Advances in prices continue the feature in paper at wholesale; mill deliveries are backward; no immediate relief is expected. Business in crockery, glassware and brass goods is active, though sharp advances are noted in some lines, especially brass goods. Oyster packers report a poor season, and the present year shows a succeeding decline in receipts. Planters are shipping raw and shucked stock direct from the Chesapeake bay and its tributaries, thereby curtailing the business at Baltimore; fair prices, however, have been maintained. Demand for hardwoods has increased; stocks are light. Building material line has been quiet, but a good order business is now on hand for near future deliveries. Wholesale drug business is satisfactory, with collections improved. The supply of money is somewhat below that of 1906; demand is active. On the whole, satisfaction is expressed at the volume of business done thus far in 1907. The wholesale millinery line continues to lead in volume of sales. Collections range from slow to satisfactory. DETROIT.—Continued activity is noted in all mechanical and structural lines, with the labor market well supplied and at satisfactory wages. Materials and supplies appear equal to demand, though there is a scarcity reported in some grades of lumber. Prices in all lines are quoted firm, with a tendency toward a higher figure in some directions. With jobbers of general merchandise a satisfactory movement is reported. In some retail lines inducements are offered to stimulate trade, though the general tone is reported about normal for the season. Collections continue rather slow. The necessary capital for a new national bank, with a capital and surplus of $600,000, has been oversubscribed for, and its charter is about to be applied for. CINCINNATI.—Retail stores are doing a good spring trade, a number of openings during the past week having stimulated business, especially in millinery and dress goods. In jobbing circles, dry goods, groceries and hardware appear to lead, and trade is in excess of last season. The iron and steel industry is very active. Rolling mills and pump factories are well supplied with orders, taken at good figures. Manufacturers of wood-working machinery are active, in some instances outputs being taken for months ahead. Collections are good in all lines, except drugs and jewelry. Lumber is active. Whiskey is firm. CHICAGO.—Improved trade conditions prevail among retailers and jobbers. The west is going right along selling and consuming goods on a large scale, despite the breaks in prices of stocks in Wall street. Sales of dry-goods houses this week have been the largest on record for this season. Buyers were here in large numbers and stocked up freely. Clothing and shoes are also selling well. Finished products in iron and steel are having a large sale at full prices. In pig iron, while buying is small by comparison with recent heavy trading, there is a fair business under way, and furnaces are slow to accept concessions in values. Coal is more abundant and an easy feeling prevails. Illinois railroads have ordered an advance of 10 cents per ton from interior points in this state to Chicago, effective April 15. Dry lumber is held with more firmness, stocks being light, and sales have increased. Groceries and paints are increasing in demand. Butter, eggs and potatoes are lower and poultry higher. Receipts of eggs are unprecedented. Cattle, hogs and sheep are higher. Receipts of all live stock are smallest since last August. Money is steady, demand fair. Interior banks buy paper freely. Collections are fairly good. PEORIA,—Trade in both wholesale and retail lines is quiet, and collections are slow. St. Louis.—General trade continues good. Wholesale dry goods, shoes and millinery show marked gains. Sentiment seems to be changing in favor of the expectation of a continuation of good business regardless of the feeling in some large centers, which is believed to be due to speculation in stocks. Prominent merchants express confidence in the ability of the country districts to take care of all local business, and in addition to that the banks will be able to keep large balances with the city banks. It is the general belief that with the adjournment of Congress and the approaching time of adjournment of the various state legislatures, general business will begin to improve. There is some talk of damage to the winter-wheat crop in Texas and Oklahoma, but in other sections there is every indication for a large crop. Kansas City.—Wholesalers dry goods, millinery, hats, caps, boots and shoes report a steady increase in volume of sales. Trade in hardware, drugs, groceries and provisions shows an improvement. Retail trade is good. Collections are fair. MILWAUKEE.—Trade in retail lines is rather slack. With jobbers it is good. Collections are fairly satisfactory. Money is steadier. Sioux City.—Business in wholesale lines shows an increase over last year, - Retail trade is quiet. DAVENPORT. — Retail trade has been rather quiet. Most manufacturers are busy, and jobbers seem satisfied with the volume of business. A good demand for money prevails. Collections are fair. St. Paul.—Trade conditions are very good in all lines, sales continuing in excess of last year. Collections are still behind those of 1906, although February nearly equaled last year, which was not a good one. The volume of collections in some lines was swelled by discounting of spring shipments, but there has been little improvement made in accounts which are behind, and the trade is resigned to wait till after seeding in North Dakota. Dry-goods lines still complain of inability to obtain sufficient goods to meet the demand. MINNEAPOLIS.—Some lines report business only fair, but others say sales are in excess of a year ago. Collections are still backward. OmaHA.—The outlook for spring trade is very satisfactory. Jobbers in leading lines report liberal orders. Retail trade shows some improvement. Collections are only Fair. LINCOLN.—Trade is improving and collections are fair. CHARLESTON.—Wholesale grocers and provisions dealers report trade good. Other lines are quiet. Truck growers expect to ship quantities of cabbage from this center about March 20. Collections are slow. AUGUSTA.—Trade is improving and collections are fair. JACKSONVILLE.—Hotels are full of tourists and business is good. Money is more stringent. BRIMINGHAM.—Southern foundry No. 2 pig iron is quoted at $22.50 to $23.50 for prompt delivery. Trade in general is holding its own. Collections are fair. MOSCOW.—Jobbers report very satisfactory sales, but still complain of delay in receiving goods from the north. Collections are up to expectations. Spring is apparently at hand and retailers report good sales in seasonable goods. Exports for February amounted to nearly $500,000 more than in the same month last year. Bill has been signed by the governor, but owing to the vast territory included in the bill, it is believed by conservative business men that steps can and will be taken to declare it unconstitutional. MONTGOMERY.—All lines of trade show some improvement, but the volume is not up to last season. Collections continue slow. CHATTANOOGA.—Dealers report a very satisfactory volume of business, with a bright outlook for spring. Collections range from fair to good. MEMPHIS.—Wholesale business is improving and weather conditions are favorable. Retail trade is picking up, but collections are slow. The car shortage is still delaying the movement of cotton, lumber and other merchandise. NASHVILLE.—Shoe jobbers report business fair. Dry goods and groceries are active and show an improvement from last week. Collections in all lines are fair to good. Retail trade is dull, owing to unseasonable weather. LITTLE ROCK.—Trade conditions are quite satisfactory. Bank clearings continue to show a very material increase over former years, and collections are fairly good. Considerable cotton is still being received here, and indications point to an increased acreage this year. NEW ORLEANS.—Retail merchants are having a good run on spring wear, the season apparently opening a month earlier than usual. Jobbers in most lines report rather active business, and prospects are looked upon as encouraging. Farmers are busily engaged preparing for crops, and if the weather holds as it is now there will unquestionably be a large acreage of staples. The crevasse in the Mississippi river below New Orleans has not done great damage, and work is now in process to close the break. Waco.—Jobbers report a very satisfactory business. Collections are slow. Farmers are planting corn. The outlook appears favorable. SAN FRANCISCO.—The feature of the week has been the passage of legislation preliminary to the transfer of the capital from Sacramento to Berkeley. High prices of material and labor are still hampering rehabilitation. SEATTLE.—Stocks are being replenished by the arrival of overdue freight, and trade shows renewed activity. Lumber shipments are still small on account of the car shortage. Collections are fair. SPOKANE.—Merchandise stocks are low, owing to the freight blockade. City and country real estate is active. Collections are slow. TACOMA.—Real estate is much firmer and extensive building continues. favorable weather conditions have improved trade generally. PORTLAND, ORE. —Ideal weather conditions have stimulated trade and building operations. Collections show some improvement. and labor difficulties are to be contended with to some extent. ToRONTO.—Trade continues satisfactory. Retail business keeps steady and wholesale trade is active in all lines. Dry-goods men report that their early spring and summer trade is as heavy as in any former year. They are, however, much bothered by slow deliveries. Demand for dress goods has been so strong that many looms hitherto employed on men’s suitings have been put on dress materials. As a result, woolens are generally scarce. The largest jobbers in the country are extending orders to the mills beyond any period ever known. It is reported that some houses have tried to contract for the entire output of some mills for 1907. Prices in all lines are high and holding very firm. Collections are generally good, but credits are considered with care. There is a good business moving in other lines. Groceries are fairly active, with canned goods, teas and dried fruits holding very firm. Hardware is fairly active, with prices steady to firm. Dairy products and grain hold firm. There is considerable firmness to live stock, and hogs and provisions tend upward. MONTREAL.—Winter weather has made for a fairly good retail trade, although there is some lessening of activity in this direction. All branches of wholesale trade are doing an excellent business in spring and summer lines. Active preparations are going forward for outdoor work. The building interests expect very great activity in all parts of the country. The work of railroad extension will go forward still more briskly, and there will be resultant very great activity in iron and steel. There is talk of securing Asiatic labor for the construction of the new transcontinental road. Existing roads are short of rolling stock and of engines, and Canadian foundries will be kept exceedingly busy for months to come. Iron and steel prices hold firm. Dry-goods men are still complaining of the slow deliveries. Linens, silks and cottons are slow in coming forward, and woolens are also scarce. Country payments have in some cases a slow tone. VANCOUVER-VICTORIA.—There is a generally good tone to trade all through this province. Since the arrival of warmer weather there has been a considerable increase of activity in general industries. Following this, retail trade has been more active and collections are good. A feature of trade is the firmness in values all round. Summer business promises to be the heaviest on record. WINNIPEG.—There has been a much better tone to trade here and in the western country generally. A good many country merchants have been here and in the east placing orders for spring, summer and fall lines. Everywhere there is a feeling of great confidence as to trade the coming season, and orders are generally large. There is still some complaint regarding collections, but there are evidence of improvement in this regard. Groceries and hardware are moving well, and there is a big business doing in boots and shoes. Values in all lines hold firm. FINANCIAL. Money Market. A prominent feature in this week's loan market was the hardening of rates for time money, the asked quotation for all maturities in that class of accommodation going up to 6 per cent., while considerable money was reported to have been placed at 53% percent. Call money was also firmer, touching 6 per cent., and the renewal rate, which hung around 5 per cent. early in the week, advanced to 5% per cent., and in some instances a little higher. Commercial paper was also inactive, with but little buying demand, and the quotations for prime names held at 6% @6 per cent. The money market has been to some extent influenced by the liquidation and demoralization in stock-market circles, it being pointed out, however, that the selling of stocks and shrinkage of quotations should be productive of a substantial decrease in the loan accounts of the banks. The passage of the Aldrich bill by Congress seemed to have no particular effect, and some curiosity was expressed as to what policy the new Secretary of the Treasury, Mr. Cortelyou, will adopt in dealing with the banks. Attention has also been directed to the fact that applications have already been put in for the retirement of the full monthly amount of $9,000,000 of national bank notes allowed under the provisions of the new law, this being partly explained, however, by the fact that an agreement to retire some bank circulation was made between Secretary Shaw and the national banks last fall. Call Week. Price at the loan of the day, December 8, 1907. 6 4% 5% 6  Telegraph to BRADSTREET’S.] Call Collateral Com. NewYork loans. timetloans. discts. exchange Boston....---..-- 6 @8 5%@6% 6 @6% 16%cp Providence ......- 6 5% 6 Par Hartford! 022-5 5 @ 534@6 5%@6 Par Philadelphia ..... 5% 5%@5 5%@6 Par Pittsburgh. ..-.-.- 5 @6 5 @6 6 Par Buttaloiseessse- == 5 @6 5 @6 7 @8 $1.00 P Cincinnati........ 444@s 5 @5% 6 5c D Cleveland ........ 5 @ 6 6 @7 50c P Detroit’ 5a. ceste< 5%4@6 6 6 $1.00 P Louisville -.....-. 5 @6 6 6 Par Indianapolis. ...-. 5 6 6 $1.00 P Chicago --s-...c2< 54@6 54@6 6% 25cD Minneapolis ..... 6 6% 6%@7 $1.00 P Omahas..s 0 2=-<4 6 6 @7 7 @8 Par Milwaukee ....... 6 6%@7% 64%4@7% 50c P St balic.ccssuecd 6 6 6 Par Des Moines....-.- 5 6 6 Par Sioux ‘Gity ..---<< 6 7 @8 7 @8 $1.00 P Dalutli2-...c-ss2 6 6 8 $1.00 P St. Louis... 5 @6 6 6 @7 5c D Kansas City 6 6 @8 6 @8 50c P Baltimore ........ 6 6 6 a New Orleans..... 5 @6 6 @7 6 @7 Par Memphis.......-. 6 @8 6 @8 6 @8 $1.00 P Atlanta.........-. 6 @8 6 @8 6 @7 23¢D ANMISIAs scck<--- 8 8 8 Par Charleston.....--.-" 7 7 8 $1.00 P Savannah. ........ 6 6 6 75C P San Francisco.... 5 @6 Seas saws $1.00 P Los Angeles...... wank 5 @7 6 @7 $1.00 P Portland, Oré....<_ <.-s 6 @7 7 75C P Seattle. 22s feeci.s J 6 @8 6 @8 $1.12@1.25 P (Tacoma isccavcess Sia 7 @8 8 $1.25 P Denver scb-sescce4 7 8 8 $1.00 P Montreal ......... 6 6 7 AB A TOrOntl cc nacucean 6 6 7° $1.25 P Bank Clearings. By Telegraph to BRADSTREET’S. BRADSTREET’S Bank Clearings Report for the week ending March 7 shows an aggregate of $3,451,304,000, as against $2,564,007,000 last week and $3,263,055,000 in the corresponding week last year. Canadian clearings for the week aggregate $79,661,009, as against $68,839,000 last week and $72,336,000 in this week a year ago. Following are the detailed returns by cities for this week and last, with percentages of increase or decrease as compared with this week in 1906: March 7 Inc. Dec. February 28 New York: $2,203,792,000 2.8.... $1,545,381,000 Chicago...... 274,990,000 18.5.... 213,721,000 Boston 175,642,000 6.8.... 133,502,000 Philadelphia... 158,627,000 1.6.... 136,174,000 St. Louis.... 65,749,000 6.3.. 56,592,000 Pittsburgh..... 62,319,000 12:3 ua<c 55,527,000 San Francisco.. 53:§23,000-«% 2 oJ. 43,775,000 Kansas City........ 35,557,000 30.2 < 28,178,000 Cincinnati... 28,915,000 7.7 - 27,520,000 New Orleans... 23,232,000 5.4 vece 19,295,000 Minneapolis.. 19,835,000 6.2.... 17,024,000 (Hleveland 4,222 aces 16,874,000 131.... 14,401,000 Detroit 1,831,000 12,945,000 16.7.~... 11,408,000 Louisville - 14,674,000.... 3.6 12,461,000 Los Angeles.... 14,464,000 15.7 ~ 12,167,000 Omaha 2,827,000—5 14,416,000 12.9.... 10,262,000 Milwaukee 11,904,000 13.1.... 10,379,000 Seattle 0 yon5 o-eeen 9,206,000.... 12.9.... 9,043,000 St. Paul (22c0. see 10,096,000 27.2.... 7,950,000 Providence..... 8,103,000 7.8.... 6,471,000 Buffalo 8,356,000 18.8.... 7,653,000 Tudhampi (23c0. see 10,633,000 6,712,000 Denver. sos aoe 8,012, 1.2) ans 6,776,000 Fort Worth..... 8,256, 24-9 <.-. 7,333,000 Richmond....-. oa. tena 3,289,000 Altiaty (Queens) BS feces 6,423,000 Washington.... 213,000 5 S. S. Sa., 5,070,000 Salt Lake City... 5,251,000 Tacoma, Ore... 5,812,000 Columbus, Ohio... 6,268,000 St. SPGSeDM- asa-t 2535 8,022,000 Memphis... 5 aoe eto 3,676,000 Atlanta... 5 aoe eto 3,676,000 Atlanta... 5 aoe eto 3,674,000 Toledo, Ohio... 4,138,000 Toledo, Ohio... 4,138,000 Toledo, Ohio... 4,214,000 Rochester... 3,204,000 Hartford... 4,455,000 Peoria... 2,214,000  ee ce 1,391,000 Sioux City: .....-<- 2,705,000 36.7 <2 2,259,000 Springfield, Mass... 2,000,000 6.4 ...: 1,673,000 Evansville......--.- 1,946,000 23.1 .... 1,895,000 Birmingham ..-....-. 2,327,000 18.8 .... 2,921,000 Sgracuse-...-..- ae 2,381,000. 55x2} =... 1,495,000 Avesta, Gac.c< ust 1,917 0000500 Meoc. 1,434,000 Mobile. .c2cecsenne 2,063,000 1.4 .«..- 1,801,000 Worcester .......-..« 1,627,000 .... 10.3 1,448,000 Kmnoxville)..--.esss= 1,828,000 15.2 .... 1,580,000 Wilmington, Del... 1,444;000:) 322) eee 1,232,000 Charleston, S.C.... 1,481 ,000 ee 1,394,000 Chattanooga....-... 1,449,000 3.9 .... 1,540,000 Jacksonville, Fla... 1,645,000 15.3 E 1,208,000 Whcliita: Ss. to-cans= Rc 1,128,000 Wilkes-Barre ... r SO ee arate I,I11,000 Davenport...... F 1,931,000 .... 9.4 965,000 Little Rock-..o8.<-- 1,726,000 37.4 .... 1,577,000 Wheeling, W.Va... 1.287;000. =... Bed 990,000 Pall Rarver-= ...---00 1,275,000 16.5 .... 1,053,000 Kalamazoo, Mich... 1,116,000 8:7 .... 945,000 Tapekase>. Ao acsss-- 1,066,000 13.8 .... 923,000 Springfield, [ll..-... 1,392,000 $.0 .... 761,000 Helenay, = aese-<5e= 1,104,000 63.5 .... 737,000 Fort Wayne, Ind... 965,000 15.5 i 682,000 New Bedford...-... 793,000 326 .... 625,000 Lexington ...... 949,000 .... 5.4 662,000 Youngstown....--.. 1,051,000 27.5 .... 551,000 1g laelcf ee ee = ae 662,000 27.0 .... 702,000 MacOti. .ncesnunteses 886,000 58.2 .... 731,000 Aivon —J.5-+5. 650,000 35.7 .... 741,000 Rockford, 787,000 13.4. J... 531,000 Cedar Rapids,lowa. 1,420\000" 30-5. Goan 586,000 Chester, Pa. -.2.-.<. 53S,900.° Sece, GEx 437,000 Binghamton .. : 565,000 4.6 .... 364,000 Fargo, N.D.. ~ 717,000 54.8 .... 357,000 Lowell ....... 467,000 .... 14.1 403,000 Canton, Ohio....-.. 59f,0007 25,4 <-.- 657,000 Bloomington, Ill... ¥,2373000- Secu O.2 690,000 South Bend, Ind .. AS2\d00 7425p) eo 406,000 Quincy, LILe--2--<-. 84$,000: 18.0 722.2 599,000 Springfield, Ohio... 508,000 15.7 .... 37,000 Sioux Falls, S. D.. 520,000 53.3 ~ 358,000 Mansfield, Ohio. 424,000 dee 329,000 Decatur, [l]......... 585,000 67.1 .... 395,000 Fremont, Neb-.-.... $346,000) “2ace anes 346,000 Jacksonville, Ill.... 580,000 .... 4.9 245,000 Lincoln, Neb......§ SR KES. Sone fesee 1,293,000 Oakland, Cal. § 4,296,000. 262 see 4,054,000 Okjahomay-.---.-.8 aves sepurecce anys Houston: .-- 2.5 5--) 22,927,000 34.6 .... 26,522,000 Galveston .....-.... 4 13,607,000 23.8 .... 15,828,000 Total, U.S...... $3.451,304,000 §.7 .... $2,564,007,000 Tot., outside N. Y.. 1,247,512,000 11.2 .... 1,017,626,000 DOMINION OF CANADA, Montreal; csc.s5.<> $27,739,000 .... 6.5 $25,513,000 ‘TOrvOntO soaect. beeen 25,932,000 15.9 .... 21,300,000 Winnipeg £=é 10,194,000 38.4 .... 9,142,000 i) Chae = hae te 3,459,000" 36.27 2.22 2,218,000 Vancouver, B.C.... re 3,363,000 Halifax << aw cesene 1,400,000 Chiehed’ = 2250 ee 1,863, (000 1,442,000 Hamilton <0: sees 1,695,000 1,493,000 St. John, N. B...... 1,217,000 998,000 London, Ont........ BRADSTREET'S, SATURDAY, MARCH 9, 1907 New York Banks. The unexpected feature of last Saturday's bank statement was a decrease of $4,274,800 in the item of loans, which, however, was generally accepted as evidence that the preceding stock market liquidation had had its due effect in that connection. The cash items showed a loss of over $2,000,000, which was about $1,090,000 below the estimates of the actual movements of funds during the week, the discrepancy being to all appearances one of the results of the average system. On account of the above changes, the deposits decreased $6,589,930, and the reserve requirements were $1,068,475 less, so that the falling off in the surplus reserve was only $450,000. The figures of the statement compare as follows with those of the preceding week: March 2 February 23 Changes Loans...... --..- $1,079,183 620 $1,083,460,430: $4,274,800 Specie... 0ss. <as. 189,065,200 192,145,800 D. 1,080,630 Legal tenders.... 74,401,400 75,419,200 1,017,809 Deposits......... *1,038,431,809 1,045,021,709 D. 6,589,900 Circulation....... 52,787,290 53,024,529 D. 217,300 Total reserve..... 263,465,600 265,565,090 D. 2,098,400 Reserve required. 259,607,052 261,255,425 D. 1,647,475 Sur plus reserve... 3,358,650 4,309,575 D. 450,925 The following table shows the bank holdings on the respective dates Mar. 2,197 Mar. 3,1906 ©Mar. 4, 1905 LOANS |: deed secures $1,079,185,500 $1,040,833,709 $1,134,425,300 Specie... 189,965,200 182,672,800 219,628,400 Legal tenders..... 74,421,409 79,722,209 85,253,800 Deposits.......... 1,038,431,820 1,029,545,009 1,189,970,200 Circulation —cess 52,787,220 59,997,990 42,851,300 Total reserve..... 263,465,609 262,395,030 305,882,200 Reserve required. 259,697,950 257,385,250 297,492,500 Surplus reserve... 3,858,650 5,008,750 8,389,700 United States deposits included $14,352,990. Philadelphia Banks. March, Feb. 25, March, Checks from 1907 1907 last week Loans...-. $223,012,000 $223,864,000 $218,006,000 D $852,000 Circulation 13,812,000 13,813,000 14,319,000 D, 1,000 Reserve.. §5,399,000 55,331,000 56,892,000 Foreign Exchange. 