New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-11-04
SUSTAINED BUSINESS
Commercial Agencies Report
Trade Conditions Favorable.

Although the week before election the
reports OF commercial agencies on the ma
tional trade conditions are very favorable.
"Dun's Review" says:
80 far as the business outlook is con-
cerned conditions continue those OF re-
markable activity and soundnes In most
industrial and mercantile lines The stu
alton abroad is still unsettled by tho
Balkan crisis, and the Berlin and Paris
markets have been much disturbed. Some
Improvement is now, however. noted, but
the Bank OF France has advanced It's rate
OF discount. One of the most important
developments in the United States Is the
energy and courage OF the railroads in the
purchase OF new rolling stock and other
supplies in order 10 prepare for the ex-
pansion of trade. When II is remembered
how vital the adequacy OF transportation
facilities is 10 prosperity, the Importance
OF this development cannot be exaggerat-
ed. Production In iron and steel Is Inn
tied only by capacity OF mills and time
and labor. and yet consumption still out
strips production and prompt delivery Is
difficult In New England every impor-
Gus, and that includes, OF course, tho tex
tile mills. Mercantile distribution keeps
pace with manufacturing output. Retail
trade is somewhat retarded by the con-
tinuance OF mild weather. but In whole
sale transactions advices from the leading
centres are all OF we'll maintained and
steadily increasing activity. The cotton
and woollen goods trades are very salts
factory as regards both current and
prospective conditions. The shoe trade
is reasonably active and firm. Leather
and hides continue very strong. with ad-
vancing prices. So far as the agricultural
situation has changed IT Is for the better,
and II is especially noteworthy this week
that while the weather continues favor
able for cotton and receipts are heavy
prices have advanced because OF large
demand from the mills Thus, In every
direction low stocks coupled with re-
stored confidence and revived activity
create a demand that tests produc-
tive capacity. Outside of the infu-
ence OF the foreign war financial con-
ditions are entirely satisfactory. The Oc-
tober output OF new securities exceeded
800, OK, OO0-an enormous increase over a
year ago. Railroad gross earnings IN
creased 40 per cent during three weeks
Of October, and bank clearings this week
gained &c per cent over last year and
81 per cent over 1910. Tho October record
OF commercial failures IS somewhat more
favorable than the earlier periods OF the
year, but there is still TOO large number
"A
domestic situation improves, there IL an
expansion in merchandise imports, but eK-
ports, nevertheless. continue heavy. Dur
ing the latest week ct the port OF New
York the exports were yiS,6l3. 1852, against
SIG, 2s2, g29 a year ago and ,ls,e3s,6li In 1870
while the imports amounted 10 Sc, 536. rs,
against Sl6,570,5 81 In 1911 and Sl5,S9S.eG In
1910"
''Bradstreet's" report on the state OF
trade says:
Trade movements. considered In a coll
lective sense. show no material hesitancy
because of the imminence Of the Presi-
Dental election. While II is true that the
week has witnessed more talk than usual
regarding political issues. and altogether
some buyers are disposed to wait until
after Tuesday next, this feature looms
smaller than In most Pres'd.at'al years.
In the great surplus cereal Usodlcing sec
tons buying continues unsba tCo, and II is
only In the East that there is L tendency
TO mark time. but there, az elsewhere,
business is strongly buttressed with
orders previously booked. The integral
feature Of the situation can be encom-
passed in the statement that there Is need
for goods and that stocks with first
hands are light, the shortage OF labor, to-
gether with heavy consumptive require
ments, having made for interpretation.
OF course, as always, there are some few
laggards, but these form negligible factors
in a business circle that has so many Of
the elements OF activity. But as matters
stand jobbing trade in the Northwest.
Southwest and Middle West continues ex-
ceptionally good, that from Texas points
being pre-eminently so. while In the East
buying from jobbers Is Of the small-lot
but frequent type. principally through the
mails. Throughout large part OF the
South and on TO the Pacific Coast I'M
provement is mirrored forth, though In
the lower South Atlantic states things are
dull this section being about the only
backward part Of the country, for which
condition a poor and late cotton crop is
mainly responsible Staples furnish the
backbone of current demand. but business
on spring account. save IN a few zones,
continues to expand, and in lines into
which wool enters mill agents are booking
some contracts for next fall. In the coun-
try districts, where cereal crop money Is
circulating. buNinP Is liheraln