Show Strengthening of Cor Becoming More Noticeable Recent Uncertainties as to Railroad Fail I to Halt Business Recovery I I I I 1 I I I I i I I I i i With business slowly emerging from depression recent uncertainties In Sn the tue railroad labor situation had been an adverse factor but had not halted the recovery While e strike poss possibilities ties affected most markets In some measure measure meas meas- ure lire the belief was practically general that f l walkout would be averted and was confirmed by late development Action to secure supplies against the I threatened Interruption to transportation tion had been tho the exception rather than the common practice and hesitation heslI heal hesi tation In future operations had not In Increased In- In I creast creased d materially The probability of ot freight ht rate reductions on the other I hand has a bearing on the price question ques ques- tion and there Is a disposition in in some Instances to defer commitments pendIng pending pending pend pend- ing developments In this connection says Duns Dun's Review Apart from the new new elements clements which influence sentiment there Is a strongly strong strong- ly defined tendency In about all quarters r Qu to adhere to a policy of caution and progress is still gradual g and Irr ir Ir- Ir I r regular gular The strengthening of confidence confidence dence however Is steadily becoming more more noticeable and commercial re reports reports reports re- re ports although not entirely uniform give tangible reason for encourage encourage- ment A further extension o of ot the re revival revival re- re vival In the lumber trade which is spreading to different sections of tile the country country is a n. favorable feature and production in the Iron and steel InI industry In- In I if it continuing much below normal nor- nor 1 j mal Is slowly expanding It is not only In comparison with conditions at ati attIle I i the tIle point of ot sharpest depression that betterment in business Is disclosed and the movement Is likely to prove the themore themore more lasting because it Is along along- conservative conservative con- con and prudent lines The Increasing Increasing in increasing In- In creasing stability of ot commodity mar mar- is evidenced by the checking of ot the long succession of ot declines yet at attempts attempts attempts at- at tempts to advance prices beyond limits satisfactory to buyers are invariably followed b by abatement of demand An almost equal division of advances and declines in Duns Dun's comprehensive list of wholesale quotations this week affords added evidence of th the the- trend to toward toward toward to- to ward more stable conditions in commodity commodity commodity com com- markets During recent weeks in sharp contrast to the situation which had prevailed for many months in increases increases in- in creases have been somewhat In the majority ma ma- Except In channels where speculative speculative spec spec- operations are highly Influential the railroad strike possibilities had l affected prices I comparatively n tI littie little lit lit- tie tle l a and even f Jn in stocks c grain I and r d coton coton cot cot- t on an there had been no conspicuous un- un Following last weeks week's setback set set- back both cotton and grain developed recovering g tendencies with cotton strengthened by smaller ginning fig fig- fires ures res than expected Estimates vary as asto asto to the percentage ei t soo of the huet crop r ginned lr thus far a this season but the official I report of ot bales to October IS 18 Is believed to represent a very large proportion of ot the total yield Picking and ginning 1 operations have recently been n facilitated by favorable r r weather l. l and the harvest Is practically completed ed In most niost se sections o oS tho the belt The policy In iron and steel has not been essentially changed by developments in the railroad labor situation situ situ- atlon Despite threatened Interruption of transportation demand has con con- tinned moderate and no general g effort I has been made to have shipments shipment hast hast- I ened enE-d The Tho announced reduction of ot hast I 7 a ton in the price of steel rails Is ot of significance and Is viewed in connection I i tion with the matter of ot trel freight ht rates rate rates rates' I II I jand and the prospect of increased participation I i 1 pation by the railroads in the purchase lof of material Belief Dellet In an early down f I I ward revision In ill freights on iron and i I steel is the controlling market influence Jence ence at present and has had hod the tho ef efI effect of- of feet of ot restricting commitments in some I quarters A new feature of encouragement appears in the statement by I Ithe the Iron Age Ag that October has been I one of the best months of ot the tho year in II i export business s and that South I uJ some I I American r a wire orders rd l have g come t to Ot this country from fron districts recently supplied I I by l Europe Seasonal Influences ar are arc beginning to I I exert a greater effect in dry goods channels ch as winter draws nearer Activity Activity Ac Ac- I AC-I 1 has broadened in read wear ready wear to I j 1 and in goods that can he be made in time timeto I to meet the requirements of ot a deferred I retail demand demond and the tile quickened dis- dis i has relieved the quietness re recently recently re- re I prevailing In primary markets j I the unusually large attendance of buyers buy- buy ers Is a f feature and purchases s have I been n well l diversified fJ lf tt though the e poli pol- pol i Icy has not been abandoned I The conservatism still being being- practiced however does not obscure the fact that there Is more confidence In the fUture fu future future fU- fU ture and the determination t to open OpeIl a anew anew anew new carpet and rug rug- season season next week is significant of the better sentiment existing Irregularities In production continue many textile mills running InI in full or overtime whereas others are I either working short time or operating operating operating I ing only a limited amount of ot machin- machin cry ery I After further sizable transactions prices of domestic packer hides have I again risen with No Ko 1 native in Chicago Chicago Chicago Chi Chi- cago up to l laic c This represents an anI advance of ot a full cent during October I and some other descriptions are also higher Transactions of ot magnitude last week made sellers more confident of their position but the additional price increases have prompted the withdrawal withdrawal with with- of some buyers Contrasting with conditions in domestic packer stock the situation In foreign hides has ruled quiet with trading In River Plate I steers Interrupted by paucity of offerings from the original market I Evidence is not lacking that the re recent recent recent re- re cent upturn In hide prices here is causIng causing causing caus caus- ing uneasiness among some large leather loather leath loath er buyers and considerable business In upper leather has been effected In New NewYork NewYork NewYork York and the West Vest While Important footwear orders for next spring are t beIng being be- be eIng e- e Ing held in abeyance general demand shows gradual expansion |