New-York tribune., 1909-05-31

In the nreoediuE week and the prominent inous-
trials an average Of s2.1S, gain OF 90
Over the year money may be had at ia Per
can't hu4 little demand is reported in any orancn
Of the time market while in commercial Papo4
offerings are light at this centre Wlth soii0
what better business reported by lnterlo' o'
Thougb out-of-town institutions are placing
fair amount of money on mercantile ac'0u". '
movement of currency continues heavily III ldNo'
of New York receipts last week exceeding snip
,,epts bv more than 5000. .OO0 with indications
nointing to an active movement this way uii'ii
demands in connection ith the financing oi 'ne
crops develop Local banks cannot expect -
secure a better price for their money Win Id &c
sums coming from the West and Sou'h IVi o
nlovnent here. either on call or time ana DIS
oopseo,erca borrowers doubtless VIII ENJOY
bargain rates throughout the best part Vi '"S
summer Trust companies recently nave pl0Oo1
loans maturing in August on the oaSls VI
cent 4 wear, and notwithstanding the fact that
lenders are urging their customers 10 ''No
vantage Of current low rates for time acconllio-
dstion and commercial paper the business
transacted is exceedingly light scsrci'S %
goId hsrs and higher quotations for sterhhs d.
paris have checked for the moment the ou'"oiu
movement Of gold, but foreign e6chahee d' ."''
noint continues strong. in spite OF heaNIe' 0''0'
Ines Of bills against purchases by EUROPE %
our securities and increased grain exports.
Industrial conditions supply arguments lor en-
couragement over the position OF the count
business Conservative progress Is peils 'iisf %
I'm most lines especially in the neIa'
a., i,r.seed volume of orders in the last week
for finished steel products and for coppel ~
sbadoNing a return of normal conditions at an
earlier period than was recently expected- lH7
T-p;+ed states steel Corporation is now operating
about II ner cent of its blast furnace capacltF.
Basic iron sales in the pig iron market are III
creasing, particularly in the Eastern terrlIorS'
at slightly higher prices. and In the general
market for iron and steel the current oeHd"u
t,or, consumers reflects anxiety to replenish
stocks at prevailing relatively low quotations.
F5uying by the railroads, so long deferred is de
welcoming in manner that promises extensive
expenditures by the transportation companies
the rest of the year for structural ma
terial, rails and rolling stock. the total pur-
chases in the month of May being larger than
ct anv preceding time since the period of busi-
moss remuneration began. Copper is higher, and
prodfcers no longer show eagerness to sell, be-
Heving in better prices in the near future re-
Election of their attitude being found In refusai
to make contracts for August delivery. Produc-
ton is exceeding all past records, and the fact
that the output is being sold though general
business has not yet resumed normal volume.
suggests that prices be kept down only by
an increase in mining operations that appears
physically improbable
A better tone is reported IN the primary dry
goods market. and the strength in raw materials
cornpels higher prices for finished goods. which
buyers apparently must pay. though at the mo-
rnent great objection is shown to prevailing
levels Johbers find better demand for fall
merchandise. Mills that have full supply Of
cotton are disposed to accept contracts for sep
tember on the basis Of current prices, but for
more distant deliveries they are asking advances
over existing quotations. Speculation in cotton
futures IS moderately active. with considerable
irregularity 10 prices. old crop months showing
weakness while new crop deliveries are firrner.
based upon the expectation in bull circles of an
adverse exhibit in the forthcoming government
report OF conditions in the cotton fields. Spot
markets are active with prices somewhat easier.
both In this country and at Liverpool The gen
eral cotton market is preparing TO adjust itself
10 the returns Of the government. and IL condi-
tions are shown 10 be in line with unofficial re-
ports recently received. higher cotton values
may be looked for From ali indications II is
safe 10 count upon large world requirements In
the next twelve months.
Mag wheat reached a new high level for the
year in the early part OF the last week easing
of before the close under the influence OF better
reports from the grain belt which encoura ged
the expectation OF larger harvcsts than the Chi
cago spectators had been willing 10 admit
Agricultural prospects both in this country and
abroad have been improved by needed moisture
and though bull speculators contend that there
has been too much rain for the good Of the crops.
time never has been known when the harvests
have been damaged by excess moisture in the
early season. Flour is dull but buyers are now
willing TO pay higher prices for the July and
August delivery. holders remaining firm in
their ideas regarding future quotations espe-
clally on the winter wheat variety. Domestic
hide markets are quiet and firm, and prices are
we'll sustained on sole and upper leather. In
building operations activity is increasing in all
parts or the country. Bank Clearings and rail-
road earnings make better exhibits each suc
ceeding week the gain in bank exchanges beinq,
pronounced at centres where speculation IS NOT
an important factor in the compilation figures
not only showing Improvement over this time q
year ago, but also over the corresponding perfod
In 1906 when general trade was active
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There are ways to save money which pbiIa-
delphia may not have learned Some vyorId
waste dollars coined from the sweat of the tar-