The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-07-16

than IL has been at any time since
January. Producers are now conbdent
that unless there is a material deteTio-
ration in the country's crops the last
six months of the year will be a pc
riod of progress, and that output as
we'll as earnings will increase. rms
in turn means Of course resumption
of idle mills and factories and more
employment for labor.
There was squirt Of activity IN the
first quarter OF the year, but 1T was
not lasting. The steel mills Of the
country in March at ono time were
operating an average of 80 per cen
Of their capacity. Then now husi,
ness began to fall off, with the result
that operations dropped to about 90 per
cent of capacity.
Within the last month the United
States Steel corporation has increased
its operations to 6S per cent capacity
Including the independent companies,
the average operations Of the steel
mills OF the country must be close to
10 per cent at present So far the
improvement has been due largely te
orders for immediate delivery. There
has been an absence of contracts calling
for delivery in the future. This clas;
Of buying. however. is expected to do
velop before the close of the year when
the steel companies open their books foI
orders for delivery in 1912.
The railroads have not placed large
orders for equipment as yet, the coiu'
panies producing locomotives and cars
reporting operations of about 30 pei
cent of capacity. The belief is general.
however, that when crops are assured
there will be more liberal buying OF
equipment. With few surplus cars for
this time of the year, and indications
that crops will be large, the railroads,
according to manufacturers, will not
hesitate to buy equipment If 1T Is
needed. The Erie railroad, for example
has signified its intention of spending
s6,000,600 for equipment, which will in
clude 1000 cars.
One disturbing feature that has been
eliminated is the large surplus copper
stocks which have been carried for the
past year or more. This surplus ha:
shown a heavy shrinkage within the
past six weeks. And SO it goes al
along the line.
Interesting Figures.
Collector Loeb has given out q state
ment OF imports and exports at the port
of New York for the fiscal year end
ing June 30, 1911. The figures show
decrease Of $4s,232,750 in the imports
of merchandise compared with last yeal
and an increase of S121 ,603 ,046 In the
exports. Gold and silver imports were
approximately sl9,ooo.oOO larger com
parcd with 1909~l0; while the export:
of the precious metal declined about
500 100000.
The miscellaneous receipts, which in
clude fines, head tax, tonnage tax, etc.
amounted to $6,566, ,249, being $970,S04
greater than the receipts of the pre-
vious year. Duties collected on mer
chandise totaled $204 ,602,729 compared
with $218. 8.669,S17 for the fiscal yeal
ending June 80, 1910, Withdraws from
bonded warehouses were about sl0,000,'
900 less than the previous year.
The national banks of the United
States did we'll during the three months
between March and June. 1t is true
that their loans expanded $52,s00,000
but individual deposits rose more than
$l73, 100000, while specie increased up
wards of s25 100000, legal tenders s13,.
600 900 and surplus and profit fully