New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-05-07
CONDITION OF TRADE.
Oun's Review says:

Dun review says
The unsettled and apprehensive feeling
prevailing for some time past in the man
cial markets, resulting in declining prices
for etO3ka and extreme depression tor
bonds, has been ailayed to some extent, al
though there has been a dlsappointLis
check to the buOydnt movement exlStlHS III
mercantile lines at the beginning q lne
year. The causes or the nnancldl recess
sion were partly economic. partly political
1t is to be noted. however. that the erect
upon the industrial and mercantile sItua-
ton has been slow. and in some parts OF
the country it was hardly noticeable: some
Improvement has occurred IN nnanClaI CON-
ditions and 20 this general business IS
ready to respond quickly Inc strong POSI-
ton displayed by the Bank OF England In
consequence of Withdrawals of gold from
the United States is ACGolnp1 ntsd Dy 4
and reported sales of other American Sc
curities This has broken the exchange
able, and already impaired better tone TO
the securities markets. InaSmuch as more
than usual depends this year upon the
crops, it is matter for cOnSratulation that
the; reports OF damage appear to be much
exaggerated and there Is no reason Tor
pessimism in this respect The April fail
ureS were numerous and heavy but The IN
crease in liabilities was chiefly que to
few large defaults. Railroad earnings IN
April increased liz per cent. which Is GER
tainlv a gratifying exhibit. Bank cledr1DSS
for the current week gained Ia per cent
over 1909 and 1873 per cent over 1870. + Ut
Their curtailment- in pig iron pToduC ton IS
II.
ration after raising dividends and wages.
has established a great pension funf, thus
displaying its confidence in the future. The
drygoods trade while still under the infiu
ence of the cotton situation. reveals con-
servative strength. The foreign trade sta
tistics continue unfaVorabIe and are drouS-
ing bankers and merchants to the consid-
Grafton OF ways and means OF increasing
agricultural and manufacturing exports;
imports we're SIG. 49,, 1885, or SS.$04,I.1 in ex-
cess of the exports, and S21Ol,S.S in excess
OF the imports last year and sl.O5I.365 in eX-
cess of 1908.
BradStreetS says;
Trade as a whole is stiu quiet. pending
clearer views of crop and price outcome,
but there is in evidence rather more
cheerful feeling in agricultural sections,
where injury from the recent cold wave
proves TO have been rather exaggerated.
and the securities markets are also stronger
on the evidences Of enlargins demand for
American bonds abroad. This latter devel-
Opr1ent has eaSed the foreign exchange
market and given rise 10 hopes that an
ticipated heavy gold shipments forced by
unsatisfactory export trade. will be found
unnecessary. Best reports as to trade
come from the larger markets of the Cen
tral West Northwest and Southwest
These appear largely based on expectations
of better weather, the feeling that while
winter wheat and the fruit crops have been
injured corn and oats areas have been en-
larged, and that spring wheat, while need
ing rain. has. on the whole. had a good
start Winter killing, followed by drouth
and lately by insect damage, is conceded
to have done damage to the fall sown
wheat and caused much land to be
ploughed up. but this loss will be appar-
emily largely repaired by the planting OF
an Increased area in corn and other spring
sov-n grain Texas crop reports are more
uniformly good than for years past while
at the South eNceUt in the lower N1iSsiS-
sippt Valley the feeling as 10 cotton is
much more optimistic than a week ago.
Eastern trade reports are Of slight inn
provefnent at some large markets but Of
trade as a whole being quiet and spring
results being not up TO expectations.