New-York tribune., 1911-03-18
Dun's Review says:


Recent Improvement in trade conditions
IS very slow. irregular and conservative.
and is chiefly in evidence IN iron ana
steel i'm which there Is larger demand
for structural materials: more cheerlul
sentiment as regards pig iron, and better
mill conditions i'm finished materials. The
volume of transactions as measured ny the
usual statistical tests T. somewhat under
that of last years. but II is geherdiiy
larger than i'm the preceding quarter, while
business sentiment Is helped by the hope
fui outlook for the crops. which. IN spite
of the complaints common at this season.
promise another year oi SUSTAINING anu an
profitable production. Among the dis-
tinguishing features of the business Situa-
ton are the growing ease of money AZ
home and abroad, the enormous accumu-
lation Of American credits III Europe, cstl-
mated as high as s200G00.e0 due to
American loans abroad and 10 foreign pur-
ChaSes Of American securities ana products
chiefly tine latter; the expansion IN our OK
nor, commerce and in our balance OF trade,
and the low stocks that are as rule car
ricd by the distributors Of merchandise
10 consumers. These conditions. while evil
depces Of past depression. which always
results in reduced buying of new supplies
and in increased stocks Of idle money. are
also elements Of great strength. because
IL is out OF such conditions that prepara-
ton IS made for future activity. Over
production depresSes copper The dry
goods markets suffer from the curtamcnt
In cotton but are fairly active 'n Woolens
linens and other lines. and the demands ot
an immense population for immediate ne
Cessites make large total The shoe
trade maintains its recent Improvement
but hides and leather are very quiet. Rail
way earnings i'm tho nrSt week OF March
declined 81 per cent. Bank clearinSs as
compared with last year declined ST per
cent outside New York and 1872 per cent
I'm New York while as compared with lo'
there were gains respectively of ll.5 and
l2.2 per cent. In tho latest week exports
from New York were si5.909 go. "A gain of
s5.i4l.393 over 1910 and of s2.g7a599 over 1902
while the imports We're slIi1i9ll. being
sS7iS.l9l less than In 1910 and Sl.OlSi3S under
1902 The gain i'm exports and the decline
in imports is I'm line with the recent ana
favorable change I'm the foreign commerce
situation.
BradstroetS SAYS:
Distrhutye trade is stin quiet. more 50.
perhaps. than in recently preceding weeks.
because many visiting BUYERS have re-
turned homo 10 await the first Indications
OF the trend of spring retail distribution
The latter branch of trade has been in turn
checked nv a sharp. cool snap which has
overspread u large area OF the west and
north ana which. while not sufficient 10
stimulate demand for leftover winter
goods. has. nevertheless. operated to retard
business for spring wear. OF the leading
lines of wearing apparel. perhaps most ac-
tivi;y. largely al wholesale. has been IN
millinery IN which the tone is really opti-
mistic. staple drygoods have sold fairly
well. but price OF tann uncertainties are a
check 10 free buying. There II a feeling in
the wholesale cotton goods trade. however .
that the line oi resistance to lower prices
mas now been reached, and this is forti-
ned bV the closing down or curtaiment of
operations by many mills North and South.
" ool ~ duh. and although bargains Offer.
manufacturers VIII not buy freely until
tariff uncertainties are solved In most
lines of distribution the feeling il one of
disappointment at the garnered results OF
trad" already done tempered. however. hN
The feeling that stocks are not large in any
quarter, and that demand. when awakened
bN The nnal advance of the late season.
VIII nnd shelves Wen cleaned and new de
mand nsistept Collections are irregular.
ranging from fair 60 slow.