New-York tribune., 1911-11-27
uONEy lND BUSINESS.


a gain Of more than Is per cent over the
same time a year ago, while the latest
reports of transportation company re-
CENTS indicate substantial expansion IN
traffic movements. Seasonable weather
has stimulated retail business, buying
for holiday requirements is heavy, larger
orders are being placed by the railroads
with the steel and equipment companies
and greater activity is noted in the mar
ket for cotton and woollen goods. Per
haps the best feature of the situation is
the growing confidence in business and
financial circles. Sentiment is bullish
and II is generally admitted that ten
denotes i'm the various markets warrant
the expectation Of conservative indus
trial growth in the months to come
Business men and fnanciers are con-
vinced that our domestic economic prob
lens will he solved along lines satisfac-
tory TO the best opinion of the country
They no longer are i'm the depths Of de-
spair over the regulation Of corporations
and the outcome Of government activi-
ties to compel the sO-called trusts to
operate within the law, nor are they pes
simistic regarding the effect Of the forth
coming session of Congress and the
Presidential campaign upon our indus
tries.
Reason for encouragement over the
cOuntry's currency situation is to be
found in the Endorsement by the Ameri-
can Bankers Association of the Aldrich
plan for the reform of our currency and
banking system and in the broader ideas
that have developed throughout the ma
tion regarding the necessity of new
money system in the interest of the
country's business. The educational
campaign for the promotion of sound
views on banking and currency has
made marked progress in the last year.
thanks to the good work Of the National
Monetary Commission, and the public
including our Legislators. are now so well
informed regarding the need Of currency
reform that it is hard 10 believe the time
is far distant when legislation will be
enacted giving us a scientific currencY
system that will automatically adapt It
self 10 the eeds Of the world of money
and business. Money is in good supply
throughout the country, and rates for
accommodation at this centre are easy,
although current indications suggest
better quotations for loans before the
end of the year. New York is shipping
funds to Canada and San Francisco and
moderate sums Of gold to South Amer
lea. the latter being for the account of
Europe which is settling its South
American debts through this market.
Sentiment and general conditions in
tha foreign money markets are improv-
ipg. and the European demand for New
York loans is less active. 1t is esti-
mated that this country has loans Of
more than $1jOOO0OO0 to European bor-
rowers, large part Of which doubtless
will be paid off at maturity, unless in
the mean time there should be adverse
developments in the international none
tary and political situation. So far the
war in Tripoli and the revolution in
China have not been factors in the for
eisn financial markets but it is worth
noting that Of the money transferred last
week from New York to San Francisco
s., 600 0OO was for the account of China
If italy should need money it will be
compelled to pay stiff rates for the ac-
cOmmodation In London or Paris, and If
China applies for n loan I'm Europe the
chances are that the real financing will
be done in the New York market, in
volving the remittance OF gold from here
to the Orient. The United States is in a
position 10 lend money to foreign coun-
tries owing TO its large supplies Of idle
funds and its constantly growing trade
balance. the latter for the twelve m.nths
ended October 81 aggregatinG SG0OO0O,-
coo Current conditions. however, sue-
gest that a wider market viii soon de-
vclop at home for money, an indication
of which is found in the better demand
for investment issues and i'm the dsposi-
tion of corporations 20 put out new secu-
rites.
Commodity prices show little change
Wheat is somewhat frmer cotton is
fractionally lower. corn and oats are
steady, sugar tends to reccde and con-
cessions are reported in iron and steel
In view Of the record breaking ginning
Of cotton in the present cotton year it is
not surprising that quotations for cotton
futures persist in remaining i'm the O.
is being held back in various parts Of
the South. I'm the cotton goods trade
the export demand is fairly good. while
actual Improvement is reported in the
wheat at Western points are heavy, vis-
ible supplies continue 10 accumulate and
adviccs from foreign wheat growing
countries are favorable Although at
th moment the export demand shows a
falling Off, total shipments from our
ports since January / present gain Of
19.I49.1S bushels as compared with the
same time in the year before.
-
The now football has not developed
tho special talent it roquires-the faculty
of handling passes clcanly and dropping
goals from the field with some degree Of
sureucss
-ii tho convicted banker Cummins is
enjoying special hospitaltics in the
Tombs it only shows that his capacity
to "usc" public oGicia's did rot leave
him whcn tho jury said "Guiny!"