New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-03-25
NONEY AND BUSINESS.

WDNEl AND BLSINE NS.
Trade conditions throughout the cOun-
try are improving, reflection Of which
is found in larger bank clcarlngs and
growing railroad earnings. According to
the reports received by the commercial
agencies, the tendencies in our industries
are toward wider distribution OF goods
needed by consumers. and nOtwithstand-
ing adverse weather in various parts OF
the United States merchandise IS NOV
ing from first hands in good volume
especially i'm the West where the long
winter, with its constant snow and
rain. has brought about soil conditions
that promise large crops in the current
year. Heavy SHOWS have helped winter
wheat, and the long continued rains IN
the South have so thoroughly soaked
the ground that a large yield Of cotton
is looked for. even though the acreage
may be smaller than that planted in the
last cotton year. The cotton ginning re-
port. supplied by the Census Bureau,
shows a record breaking return for the
season now closing, with more than 10,
600 900 bales, and it is therefore not sur
prising that bulls in the cotton market
are not particularly enthusiastic over the
outlook for higher prices. in spite OF Wis
ible signs of an increased demand for
cotton goods. OF course, the large in
qulry for drygoods at better quotations
than those recently prevailing serves to
encourage the idea that while the raw
material may not advance current levels
can be held
At the moment trade activity Is more
pronounced I'm coal, drygoods and steel
than I'm other lines. "Bradstreet's' says:
"In drygo0ds advances on several kinds
Of goods have been made by the mills,
and I'm view Of the fact that stocks are
light, that labor demands higher wages
and that production still is under nor
nal, merchants have been compelled 10
change their view as To prices. They
now recognize that II they want goods
they must not delay in placing orders
at rates satisfactory to the mills Coal
and coke are extremely active, and al
though IL IS believed that the coal mines
will shut down on April ] well Informed
interests in the trade do not look for a
long drawn out miners strike. Fortu-
natcly the biggest consumers Of coal
have heavy supplies on hand. Further
more. the coal producing companies, I'm
expectation of a strike, for months have
been increasing their output, and as a
consequence have enormous surplus
stocks at various distributing points. I'm
the iron and steel market more activity
Is reported In foundry iron. Prices for
finished steel materials are frmer. and
consumers appear TO be quite willing TO
pay the higher quotations asked. 1t is
worth noting that the railroads are buy
ing more freely. Conservative expansion
Is under way In the metal market, as In
all other lines OF trade. and the fact that
prices are moving on the basis Of actual
operations rather than on speculative
manipulation is one Of the most encour-
aging developments Of the moment.
Copper is in good demand and sales are
now being made at - cents a pound for
the metal
Stocks are strong and the demand
from spectators and investors is in
creasing frmer tendency is reported
both in call and time money rates, and a
heavier Offering Of commercial paper re-
fleets the Improvement i'm sentiment and
actual operations in business circles.
The monetary situation here is absO-
lutely sound, and the fact that ne are
lending abroad and are piling up big
credit balance on export account should
dispeI any feeling Of uneaslness over the
future Of the banking situation i'm the
United States. Exports OF merchandise
in February were larger than in any
preceding month in the history of the
country. with a similar record for i'm
ports, the excess of exports amounting
in value TO S64 ,6J7 ,J1S, against an cx-
cess in the same time last year of $j4,
262, $40 and an excess Of imports I'm 1910
OF $3.50 $50. For the twelve months
ended February % the excess Of exports
amounted in value to 500, LIS, 067. Dis
count rates I'm Berlin exhibit a frmer
tendency and indications point to higher
rates at most European capitals New
York continues TO ship gold to South
America for the account of London and
Paris Demand for New York funds Is
growing and local bankers naturally are
cheerful