New-York tribune., 1911-01-21
CONDITION OF TRADE.
uun s. Review says.

Improvement IN financial conditions mas
been a marked development IN the last ie"
GaNs and TO some extent has p'eh dccoIII-
named Uy more active trade diSjIplIlVl'
aI,Eough tho Industrial contraction or the
~a.t. half wear IS still in evidence. ne odih
statements report larger supply ol dEai5
able money. though the BANK OF Ehsid' q, y,
maintains its ~ per cent rate. IheIe lS q
moro active demand for bonds, eSpeCduN
hv institutions. The new New YORK Slt{
npua issue seems 20 be favorably received.
ana an aCcretiOn of strength Is SHOWN %!
the securities market This Improvement IS
ro9e ted also In the more encouraging a.
r.rf- az the iron and steel market. While
IrOaIotiOn IS Stlll only hat OF pIopuCIlS
.su4rIty and there is no decided change IN
.,uditiuus vet there iS new export DuSl-
ness of note and increased buNing UE the
railroads Copper is slightly weaker OWING
30 o.. fact that stocks are heavy, notWlth-
standing tho big world consumption. CON
fcrCnces have been held by cotton goods
manufacturers 20 consider Curtdlment UI
production. but ON the other hand the week
shows n better wholesale and retail distri-
button and the export trade has been espe-
,ially good during the last two months. IN
creased orders are also reported IN the snoe
market impaTting greater confidence 10 the
trade. More attention is given TO the WIN
to- wheat condition. This, on the WnOle,
appears excellent. the absence OF sufficient
snow i'm some states being compensated Tor
uN the ample rains which have mOistened
'uc ground IN nearly all sections. Railroad
earnings now compare favoraOly with 1910,
the record for the first week OF January
making gain of per cent Bank clear
Ings outside Of New York during the week
decreased l$ per cent from 1910. but gained
90 per cent over l+H. while In New YORK
there were decrease OF &.1 and 40 per cent
respectively. one OF the notable gains OF
tho situation Is the marked Improvement In
ruo foreign trade situation. This was re-
vyaicd I'm the total figures for the month OF
December and also shows in the record Of
New York in The latest week. when the ex
ports wer. SlG.272.1lb, against M477i.SS7 in
1910 and Sl5 i32J42 m 1909. AS imports de-
clincd q is compared with the last two years.
there was an excess OF exports amounting
20 I.&s5,Ni5.
Bradstreet's says:
Trade undercurreuts are running a little
more freely IN cOnsOnanCe with the prog
Joss Of the season. but the Improvement IS
neither Widespread nor marked. While the
larger centres report that statesmen are
sending IN better orders for drygoOds and
Kindred lines. less important cities, with
"a few exceptions, principally in the South,
agree that trade IS not better than fair 10
good A. the moment JObbers are busy on
Early spriug shipments, and wholesale
trade has not as yet assumed an active
appearance. IN TACT buyers are sun DIS
plsviug "a conservative attitude preferring
apparentlv 10 buy frequently rather than
IN large volume at any one time. THIS dis
position. taken in conjunction WIN the
fact that stocks must be light augurS well
for a healthy undcrtOne, but pending price
rosdiu~tments, for which buyers seem 10
We waiting. trade movements tehd 10 be
sporadic Retail trade Is qulct III most sec
ti0rs save iu The South. where the high
price % cotton has made for better sup
rIy Of money auf improved collections. In
Industrial lines little I'm the way OF I'M
pr0yemeUt las developed. on the one
Sand there lis "a letter demand FOR lumber
- southern points. fertilizers are active;
farm machinery Is In good request anu
builders hardware is IN demand, but pronts
n this line are scanIy'