New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-06-03
THE BUSINESS VIEW
Conditions Generally Favorable
as Reported by Commercial
Agencies.

tinue to bring good accounts of their hnd-
ings throughout the country.
Dun's Review has the following.
Four features OF the business situation
are so favorable. for the time being at
which seem doubtful These favoring
features are the better outlook for the
crops particularly in the Northwest, this
being already productive of an increase of
confidence and activity in the leading trade
centres Of the great agricultural sections;
the warmer weather. which is everywhere
stimulating trade distribution. the very
notable expansion which has taken place in
the iron and steel trade. bringing produc-
ton almost 70 the point Of capacity and
giving promise Of a year OF remarkable CON
sumption: the greatly improved conditions
which have prevailed this year in the tex
tile markets, fact due in part TO the more
normal state of the market for raw cotton
and in part 10 that condition which Is the
inevitable product Of low stocks Of mer-
Chandise and a growing population, with
expanding wants. The last week has ac-
centuated these more favora BILE features.
Larger activity is noted in the retail and
wholesale divisions Of the drygoods trade.
There is better demand for shoes and
leather continues very firm. Hides. how
ever. are not quite so strong. Notwithstand-
ms the quietness of the bond and other
security markets. it is significant that there
has been a much larger total OF new stocks,
bonds and notes issued thus far this year
than in the corresponding period in 1911.
The improved weather favors building
operations. Bank clearings this week out
side Of New York were per cent less than
last year and IL per cent under 1910, while
In New York there was a reduction of IS
and 22 per cent. respectively. Railroad
gross earnings during three weeks OF May
show a gain of AZ per cent. Foreign COM
merce continues very large, with a notice
able outward movement in the iron and
steel and drygoods markets. During the
latest week the total commerce Of the
Port Of New York amounted 10 S3S, go os3,
against 5000. 4O6 in 1911 and S24s5s.73S in
1910 Both exports and imports made
notable gains over the two preceding years,
the exports being $40 go SOS and the imports
sl975o,665.
Activity still prevails In finished lines Of
iron and steel. and the larger plants con-
tinue TO operate almost to capacity. In the
Pittsburgh district shortage of crude steel
is reported. and purchases Of pig iron are
being made in the open market There Is
good demand for heavy steel melting scrap,
with some dealers holding stocks for better
than s13 81 Pittsburgh, the prevailing quo
tation. Pig iron remains firm at from sli %
to sl4 30 Valley. for Bessemer. while basic
rules at slS Is. Valley. In Eastern territory
F,-.,,
were noted this week and Buffalo furnaces
have received orders for several hundred
tons for shipment TO Canada. Heavy speci-
fications continue to be made on plates and
structural shape and prices show ten
dency TO advance, 81 %, Pittsburgh. now
being the absolute minimum. Buying OF
equipment and finished steel products ~
the railroads is still a prominent feature,
with the Pennsylvania system purchasing
1000 cars for its Western lines and other
contracts under negotiation involving close
to 5000 cars.
Commercial failures last week In The
United States were 205, against 2il last
week. 800 the preceding week and 2B the
corresponding week last year. Failures III
Canada number 49, against 10 last week, q
the preceding week and % last year Or
failures this week in the United States %
rare in the East, IS in the South, A in the
West and % in the Pacific States, and Il re-
mort liabilities of 5000 or more, against III
Ias, week. Liabilities Of commercial tall-
ures reported thus far for May are NS'jo''-
cso against sl3,469,7S9 for the same period
last year.
The nrice of commodities are reviewed Tor
the week BY Bradstreet's as follows:
",rbe commodity price movement mas
sbovn few important changes TINS asst
u,oek and as a whole, may be said to reject
e,eadiness pending clearer views or crop
conditions or outturn, though good weather
...,or.s have made for ease in the coarSer
orat,s Wheat showed sensitiveness 10
1,,oa+har and crop reports early, and me
biobest prices Of the week were mace on
Monday, but weakness appeafeu i"'ei "
tbe Nav delivery, and that month moved
-. r,bi,e Julv strengthened slightly on
ranorts NJ a transferrence OF interest 10 IT,
Nav was, however, only shghtly io"ei %,
net movement to Friday whiie July ee'"eu
fractionally.
Corn and oats eased on good weather aH'
cron REPORTS. and corn Is liz cents ioWei'
With oats slightly lower in sympathy. rro'
visions were quiet and dull TINS weeh' Oo'
,orseed oil broke sharply, ana Sess anu
cbeAse weakened, while butter steaoi'u
a,ter IFS decline Of cents In May ousd'
=. euebtIv higher on the disturbing news
- C,ba and some interruption to pro-
a,n,ion nv the disorders in that isianu.
Ito, is 10 TO Is points lower on the better
- ranorts received from the South anu
ether UNEXPECTEDLY favorable report OF
' >-a,iorai Cinners' organization. SHOW
condition of 70, when about ~ 10 -
had been looked tor' anvil
canadian prosperity still comes up s'n.
-, apd the reports of progress die ''
aYdod nv Dun's Review as foiio"s'
..c.r.rallv favorable conditions continue
n,,.u throughout the Dominion OF Gan
80 an the leading cities noting wen mani
,.A activity i'm the Distribution VI az
80 of merchandise, with merchants anu
,ufacturers expressing much cohiideh'o
1a.a,no the future Montreal reports tha'
',.,.,,,e moisture has put country ioduS
"a condition which has had some ei
- an country trading, out that eiS
ie'' a,ors IN practically all lines con-
-, There Is liberal movement OF
.ihuS hu, much complaint 10 hearo OF
-, nrices Receipts OF NOES are
tho are readily absorbed, ana cali-
iaiee' - again advanced cent. Al
SKINS -" che Improvement in wholesale trade
9uep.I a,ntained. and retail traders are
- a,t,v satisfied with the current VOL
appa 80 business Wholesale business a,
unie a continues active. and traVeiiins
Ioro"'o -, with fall samples In drygoods
saieSIi IT, lines report the outlook favora-
sha U tn crops are apparently In splendid
PIE - and the feeling In mercantile
cohoiHo'' ~, CIRCLES has much improved