New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-06-17
MONEY AND BUSINESS.

The stock market during the week just
ended has been OF no value In deterinih-
ing the attitude Of financiers toward 'ile
country's future progress. BusiflesS III
general continues to grow moderately
and there are many indications OF Il
more active expansion later in the year.
Industrial activity continues 10 De IN
evidence, and merchandising reports
from the different lines Of trade present
a brighter appearance and offer tar
more hopeful future than were 10 De
observed a few months since--in TACT,
only a few weeks ago. The iron anu
steel trade is keeping up It's for"aru
movement and mills are taxed 10 ther
capacity. Various forced improvements
and engagements have been announced
and there is a feeling of optimism eN-
pressed by the leaders OF the steel III
dustry. The governments crop report
was stimulating, particularly in the out
look for spring wheat. which promises 10
offset the decreased acreage Of winter
wheat. While the cotton crop VIII not
be up to normal, the weather conditions
have been excellent in the last week, and
the acreage loss which was predicted
some weeks ago will be materially de-
creased, and cotton experts are more lib
eral in their estimates of the season
crop.
Bank exchanges emphasize the increas-
ing volume Of business. The gain for
the week from all national banks was :
per cent over the same period In 1911
and o. per cent over the same week in
1910. Railroad earnings also verified the
impression Of larger and better business
For the first week in June the railroads
showed an increase of 90 per cent by
comparison with previous reports. EX-
ports from the port of New York, as
shown in last weeks reports, were less
than in the corresponding week of 1911
being S16.171.2S9. as compared with SIS
1853. 62S, but were about $4,OOO,0OO larger
than in the corresponding week of 1910
The liabilities Of the commercial failures
since June | amount to $4,OJ9,3SJ: ST.
$685. were i'm manufacturing, S2,OS6.
500 in trades and $275, $50 made up tn,
remainder, distributed among promiscu
Gus commercial lines. The number Of
failures in the United States last week
totalled 233. as against 257 for the weeA
! previous. Only eighty-three Of las
weeks failures had liabilities Of 5000
or over, while the week previous thi!
| class numbered ninety-siX. The tota
I liabilities OF commercial failures so fal
| In 1912 amount 70 $4,Oj9, 3S5. as agains
/ SJ.7432 Sl for the same period in 1871
An indication Of looking beyond the pres
ent and preparing for the development!
and requirements of the future is shown
in the action OF the Canadian Pacific
which has announced an expenditure o.
between SEQ, OO0,OOO and 100000. Thu
money will be expended for double track
| ing and making extensions. partly I,
prepare for an expected increase In bust
ness as a result OF the opening Of thu
| Panama Canal
The Canadian crop reports in the east
ern part Of Canada are not so good. due
! 10 cold, rainy weather. but in the north
west the advices are that seeding Il
finished and crops are making splendid
progress, owing 10 fine warm weather
! The European situation as a whole Is
showing some Improvement. and. bar
ring extraordinarily unfavorable de
velopments. will readjust itself.