New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-08-05
MORE FAVORABLE REPORTS
Commercial Agencies Give De-
tails of Improvement.

gwen.
Trade expansion contrasts With spec
ulatlve dulness Inasmuch as the IN
creased Industrial and mercantile opera
lions involve larger demands for money
while requirements in connection WIN
moving the crops will also be heavy. IL
Is, on the whole, fortunate that there IS
no great speculative activity 10 ada 10
the burdens Of the money market, whlch
IL giving signs OF an advancing tendency
The Industrial and trade situation Is mus
in advance Of the speculative securities
market. but the slugg!shness OF the latter
IS not an indication Of suspicion as 10 the
reality and permanence of The FORMER
The crop situation, upon which national
prosperity so largely depends, is In an
eminently satisfactory position. Some IN
certainty still exists as to cotton. as -
evidenced by the wide fluctuations in the
market FOR cotton options. but the latest
news shows Improvement In the Eastern
cotton section. with lack Of moisture
again reported I'm the Southwest notably
Texas The grain crops are IN a very
promising condition and every day now
adds TO their security from unfavor1ble
weather developments. a noticeable note
OF optimism prevails in business circles IN
most sections OF the country, when IS
not appreciab bly, affected By the usual eX-
citements OF Presidential year. The
great prosperity OF the iron and steel In
dustry is steadily maintained N all It's
important branches. and the railroads, al
ready IN possession OF a traffic as lndi-
Gated by gross earnings In the three weeks
of July. 80 per cent larger than last year
are preparing for still larger business
by liberal arrangements for rails ana
equipment on a scale IN excess of most
former years. midsummer lull prevails
in merchandising in dryGoods. yet many
orders are coming In for future delivery
The shoe trade also maintains recent I'M
provement. The general advancing ten
denotes OF the business situation are
strikingly indicated by bank clearings FOR
July. which show gains OF IA per cent
over 1911 and OF SO per cent over 1910.
and these gains are we'll distributed over
the different sections Of the country.
proof that business Improvement is ma
tional In scope. The July failure exhibit
still shows the effect OF the former strain
By the large number OF defaults and the
increase In liabilities over the correspond
ing month In tho two preceding years.
result which is largely due to the increase
In small failures.
THE further price advances on steel
products testify TO large volume II new
business. and there are indications that
the bulk OF output is going directly into
consumption. Demand IS broadening.
with the smaller plants reporting steady
Improvement In sales. IL IS estimated
that orders for equipment from the rail-
roads this year will surpass all records
since 1907. Purchases Of plates and struct-
ural material continue feature and
quotations are higher. with premiums
paid IN some Instances. Crude steel Is
steadily becoming scarcer and prompt de-
llveries are more difficult 20 obtain. An
advance in pig iron Is considered prob
able. especially on basic iron. which has
been quite active during the last few
weeks. Recent contracts include 5000
tons taken by one interest. while there is
also large inquiry for Southern iron.
The following Is an extract from Brad
streets:
Trade reports indicate better buying
for fall and beyond, fine crop prospects
together with the knowledge that goods
are scarce in many lines. having made for
freer purchases This disposition 10 buy
more freely Is manifested To a greater ex-
tent at Northwestern points than any
where else, though most markets. save "a
ra1 o. h.
eral bctterment. In the textile lines price
advances are significant of an enlarged
either present or prospective.
Indeed. those buyers who have hesitated
about paying the advances asked are
coming into the markets, and. of course,
the mills are firm Ia their views as TO
prices. as II is fully recognized that sup
plies are not Observation-Disclosures. because
prolonged hand-to-mouth buying caused
TO restrict output to de-
mand. and, secondly. because labor
troubles have initiated against anything
like full operations. American standard
prints are up one-quarter cent yard,
retail dealers are evincing more interest
in dress goods and additional spring
openings show advances OF ! 70 per
cent on staples. Fine cottons are very
firm. but the price situation is such as 10
deter trade for the moment. A large de-
mand is imminent for cotton duck, the
supply OF which is said TO be light and
there IL more doing in hosiery ana knit
goods. or course, all of The foregoing IS
relative. for az a matter of fact. there Is
nothing of n speculative character-that
IL. of IA hcadlong rush-about the move
ment. To be sure jobbing trade on cur
rent account Is light and retail dealers
are pushing clearance sales at great sac
ritices, hut on the whole II Is probable
that results have been satisfactory.
though there Is enough irregularity 10
prevent uniformity. Lumber continues
active particularly I'm the Pacific North
west. where new mills are being built
and in parts OF which night crews are
being employed. Staple groceries are in
demand, but -four is quiet because the
fine prospects for wheat tend to estab-
lish belief In lower prices. Wool is not
so active as heretofore, chiefly due To re-
cent action on the tariff. the La Toilette
measure having induced somewhat OF a
setback, though some interests appear TO
be unconcerned about tariff legislation,
the feeling being that no developments
will ensue ut this session of Congress.
Farm implements. binder Irvine, cotton
duck, harness and saddlery are all in
better demand. owing, no doubt. to the
improved condition Of farmers In general.
Hardware and builders material are also
under call. Fancy steers are quoted at
20 ss the highest point I'm forty-one years