New-York tribune., 1907-06-17

The proportion OF repaymentS tIlAt W'Hlu PiOE
erly come upon local banks would be Slo-oO"o'V'
but it is expected that many interior instl'ulloS
will remit by drafts on New York. If the bonds
are so held that the money VII be depositeu
here by individuals it will leave conditions the
same as at present, when the government Is inc
deposftor II is also becoming necessary TO pre-
pare for July interest and dividend dis5urse-
ments. which are estimated at the vast sum CT
s175.00O 000 While this may prove Temporarily
unsettling TO the machinery of the money mar
ket the distribution in this city alone OF an
average of 50 for every inhabitant OF the ChiIeH
States should stem the tide of pessllnlsil
Seasonable weather is tardily making its ap-
pearance. trade reports from many sectlons oi
the country indicating the first good WORK OF puSl-
ness in light weight wearing apparel ana suii'iieL
goods generally. There are still many pacK"aru
sections that report little progress ana the Coti
try as a whole will carry over large stocks' put
there is evidence that no serious embarrassment
will result, and few weeks Of hlgh teihpera'u'7
will restore normal conditions at most OF the
leading cities Collections have been retarded py
the same influence that delayed the sale OF
sprine. merchandise extensions being csked ire
ouentIv and the only really encouraging reporls
as to payments come from country dlstrlciS
where farmers have sold wheat at over Il doiiaI
q bushel. Foreign commerce in May far ecHpsIu
all previous records for that month"; despite
much interruption by the Iongshoremen's strike
Imports were valued at $126.6O6.32S' Whieh Is
not only far in excess of any earlier May pul
only three other months recorded larger hSures.
Exports OF S134 .GO7. $50 were also greater than
in the corresponding month in any preceding
wear hut the favorable balance Of $SO0O0OO VIII
not nav freight insurance, tourists expenses,
etc, for the month.
Cotton has maintained the greatest strength
of the leading farm staples, prices here holding
up I'm the face of sharp reaction at Liverpool
Mills are now vigorously operated yet 1t IS well
known that consumption will not continue to es-
tablish new records If the raw material costs
131l cents a pound, more than at the same
date in n generation. Exports last week fell 10
about one-third those of the same days IN lN'n'
and domestic spinners also took less freely nut
the amount that came into sight was practically
unchanged. Wheat prices broke so sharply that
some traders began to ask whether the reaction
was not in danger of being Overdone Official
figures for June l were considered evidence that
the Weld would be 635 900 900 bushels and on
the theory that weather conditions thus far this
month would add many million bushels TO that
total SPECTATORS became aggressive sellers. Dur
ing the fall in prices which amounted to 10 cents
a bushe in some options. there was revival OF
export buying that gave the market support or
the most substantial variety. Corn dld not 1ol-
low the erratic course of the leading cereal.
holding fairly strong at all times
Industrial conditions still make the outlook
bright goods now being manufactured for fall
and winter trade AT pace that shows no fear
of the contraction and readjustment that many
seem not only 70 expect but desire. The man
who questions the advantages OF prosperity,
even with high prices, should get out the records
of idleness and suffering of only little mora than
ten years ago. But the mills and factories turn
out finished products at the limit OF their ca
pacIty and preparations are made for n large
volume Of business. Steel mills have contracts
for delivery I'm 1905 that evidently disregard the
fact that It Is the much feared year of Presi-
Dental election Cotton mills busy that
the poor spring distribution of drygoodS and
high prices of raw material are scarcely consid-
cred the purchase of practically all the stock Of
print cloths at Fall River making the statistical
position very firm. Footwear factories are we'll
occupied on old orders. but fall business comes
forward slowly because purchasers hope that
delay may secure concessions in proportion to
the decline that has occurred in hides. The busir
ness Will be placed soon. it is said by sales
men. but large stocks OF hides in the hands OF
tanners encourage procrastination wherever
shoes are not urgently needed.