New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-03-27

,hey can secure n somewhat better Inter
ct rate in London than is quoted IN W.
New yorl, market And then, the 'or-
'ign demand for our securities - ""
crcasing. which. with rapidly ekpan"
ing export trade. insures gold imports
whenever We may need the me's'
Retail trade IL more satisfactory, p1t
general conditions in the drygoods mar
ket viii have t. undergo certain ae-
gree of reimbursement before any amount
If enthusiasm can develop Actual new
business in cotton goods has not ma
fo-iallv increased in recent weeks. buy
ere showing no disposition 10 chang"
from the hand-to-mouth policy when
they have followed in the last year and
which they evidently believe can he OK
ercised indefinitely. Inducements by
sellers in the way OF concession in prices
fail TO bring out extended commitments.
Further curtailment Of production APP
pears likely. as stocks on hand are
heavy. but al the same time " should
be noted that receipts Of raw cotton are
decreasing and that tire visible supply
in the world is declining much faster
than il was at this season In l9lc
The srot market is strong, and the CHAR
acter of the speculation in futures SHOWS
that strong bull interests can control the
market without making aggressive plays
for higher prices. Exports of wheat ana
corn are growing. and as the price ~
-four has reached an export basis, IN
creased shipments may be looked FOR.
The visible supply Of wheat in the United
States is 1O.OOOOUO bushels more than at
this time last year, while the world
supply is 3O.OtO.OOO bushels larger the
two factors. with favorable prospects Tor
big crops in the current year appar-
entity precluding the possibility OF a re-
turn of quotations to the high l,vels of
twelve months ago.
In the iron and steel industry more or
less irregularity is reported, but accord
ing to the best authorities the general
situation in the main is favorable. THE
Iron Age" finds that steel works and
rolling mills arc making larger outputs
than in February. with consumers gen
orally specifying to the maximum
amounts stipulated in their contracts
New orders in some lines. however, are
not up to recent expectations. The rail
roads are not yet factors in the marke,
for finished steel. but the general de-
mand for structural materials is excel
lent with heavy new contracts from
builders both in the East and the West.
Pig iron tonnage placed last week was
low. although inquiries were more en-
courssing. while prices were firm De
spite large supplies in furnac" wards
II is estimated that between l.IO,oTl
and 2O00.O0D tons of pig iron are now
stacked at the various furnace proper
tics in the country. Perhaps the great
est activity is in the wire trade, where
the mills are being operated almost 'o
capacitv. In view Of the fact that sen
timent i'll copper circles has been de-
messed for many months it is encour-
aging g note that there now appears
tn be some genuine enthusiasm over the
future of the industry. The larger pro-
.ducers are stiIl holding their metal for
l21a cents. and are turning down good
sized offers at 12as and ia cents. be-
lieving that it will not be long before
they can sell all the copper they can pro-
duce a. 12I2 cents and better.
Commercial failures in the uniteu
States arc not large enough in numoer
or liabilities to suggest anything in the
nature Of acute depression I'm any part
# tho country. liabilities thus far re-
portcd for March reaching about the
same total as was reported II year ago,
when business was considered active.
Con1uarisone of the actual amount or
business being handled in all lines with
the totals Of year ago as rule arc
not uIfa vora bile. and If II We're not Tor
various uncertainties in tho genera SIT
nation that cause hestancy on the part
If buvorS the output Of our industries IN
response To actual demand doubtless
would be much heavier than il was AT
this tiyo in 1910. With the elimination
of the uncertainty over the outcome OF
the corporation suits in the Supreme
court ,hare should he marked gain in
industrial activity.