New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-06-12
asks, should 1t hesitate IN lts COO.
fence to mark the criminal wi'n '"'
ord Of his calling?
HONEY AND BUSINEsS.

| Nnlle trade movements T., Ia
show irregularity, general tenu.nN
the business world are in the oie'''O'
Of Improvement. The gain In the ao'ua'
volume of commercial TRANSACTIONS
/ forward account is not heavy. but daF-
to-day operations are large. Wiiiie
! lying factors are growing stronger,
| the promise OF being actively reie''eu
| in enlarged commitments for the iu'"'e
at no distant time. Payments tnrous"
clearing houses and railroad eaTh'hsS
are more satisfactory than those recen'
~ reported, consumers OF iron ana steer
exhibit more interest In coming heeu''
an indication OF which Is found 'n d. iai'
gain in the tonnage orders placed IN
certain lines Of finished steel products;
a better demand for copper Is reported
seasonable weather is helping retail
trade, money is in abundant supply ana
crop prospects as a rule are encourasihs'
Lack of moisture in the Southwest Is
noted. but no material damage mas peeh
done to cotton as yet, while winter
wheat in that section Is too near ma
turity 10 be affected TO any important
degree so far as the final yield Is con-
cerned. Government figures showing the
condition OF winter and spring wheat on
June l suggest the largest harvest In the
history Of the country. II Is too early
to speculate on the outcome OF the corn
crop, but 1t Is interesting TO know that
| acreage has been increased in most parts
Of the corn belt.
Although tariff uncertainties and
Washington Investigations Of the steel
and sugar businesses serve to exert a re-
staining influence on Industrial opera
tions, the stock market continues to re-
fleet Wall Streets discountng process
Of return Of normal conditions in the
mercantile world. Prices are slowly
moving TO higher levels under the In
fluence Of good speculative and invest
ment buying, the latter including pur-
chases OF our securities by Europe. which
is showing a most promising attitude
toward American railway mortgage is
sues. Weakness in the sterling exchange
market Is due In large part to heavy
offerings Of security bills by interna-
tional banking houses, especially by
houses identified with sales of bonds to
French bankers, but the ease In money
rates here does not encourage the ex-
pectation that New York will take ad-
vantage OF its position In the exchange
market TO bring in gold from abroad.
10
funds than they can place on approved
collateral, and it is not thought that
even with the preparations for the
financing of the Panama bonds, the i'm
pending Chinese loans and new corpo-
rate offerings radical change in IN
terest rates will be recorded in the near
future.
IeXtle markets are quiet but in
creased confidence Is shown by the cot
ton goods trade in the theory that the
long period Of depression is about at An
end The more hopeful feeling exhibited
may be taken as an encouraging symp-
tom or coming improvement, although at
the moment Jobbers and merchants are
deliveries. Speculation in cotton futures
has been more active in recent DAYS on
an advancing level Of prices, due mainly
10 high temperatures and reports Of a
lack OF rain in various parts Of the South
and Southwest. but trustworthy advices
do not indicate anything In the nature
OF serious injury to the growing crop,
which covers a largely increased acre
age as compared with that OF a year
ago. October and January cotton has
been heavily bought by local bulls, who
in the last two years have been uni
formly successful in their operations.
Little change is noted in cereal prices.
and efforts TO bring about higher quota
lions on crop damage reports have not
been successful. government figures IN
dicating heavy yields offsetting the bull
talk in the wheat pit Receipts OF wheat
are heavy. and exports are In excess Of
those at this period last year.
Reports from the blast furnaces for the
the output. The Iron Age" figures the
total make OF coke and anthracite pig
iron in May at 1893, 450 tons. against
2,O65, 0S6 in April, the daily average in
May being 81 ,O79 tons. compared with
6s, $50 tons in the month preceding. The
railroads are buying on most conserva-
tive basis, and reductions I'm prices so
far have failed 10 stimulate large in
qury except for steel bars, which are IN
active demand by makers OF agricultural
Implements and other large consumers,
who are placing contracts covering their
needs for the next twelve months. The
anthracite coal trade is in a much bet
ter position than It was at this time in
June a year ago. Stocks on hand are
light, and the heavy production In May
and April has gone into consumption
Copper trade statistics are strong. Pro-
duction continues in excess OF that re-
ported at this time in 1910. but deliv-
cries, both for domestic consumption and
for export are rapidly increasing, the
gain I'm Ma. amounting to almost D.
900 600 pounds.