The Washington times., 1912-02-11

1t Is argued that spinners will expert
ence difficulty In obtaining cotton of n
desirable quality; but, on the other
hand. II is pointed out that with a crop
of only 100000 bales two years ago.
there was cotton enough to supply all
urgent needs, and that, in consequence
OF the huge crop, there is no likelihood
of spinners becoming alarmed now over
prediction of scant supplies Of the sta
pie, and particularly so, for while un-
doubtedly there has been, AMI is, some
Improvement I'm the textile industry, no
one looks for runaway market there at
time of politica, and tariff uncer-
tainty
Although unified orders q reported by
the Steel Corporation yesterday amount
ed to 5,3D,121 tons, an increase of 1884,
9dO tons during January. and although
the pig iron output for the same month
the industry during the week were not
as favorable as In the recent past and
cuts of 81 a ton in prices by the indepen-
dents were announced in steel bars,
plates, and structural shapes. The dis
tinct heaNiness in United States Steel
stock, however. was not attributable so
much to the industry as to the Govern
mert injunction restraining the COM
pany from destroying books and papers
desired in the suit. Although II may be
doubted II the records destroyed have
any bearing on the pending litigation. or
are of anV value to the Government,
since they have already figured in the
wire pool case, the fact that some
had been destroyed created an unpleas-
ant impression in the Street, which just
now views everything with suspicion.
General Industry and Money.
In referring to business conditions in
general the recognized trade authorities
nnthiDI~ NJ in, "a iY
weekly-summaries and reviews which ap
peared yesterday. The best feature Of ali
unquestionably, is the well-sustained
volume Of export trade. Elsewhere ex-
treme conservatism is noted with buy
ing conducted strictly upon a basis OF
supplying immediate needs, without an
uClpaung any very remote future re-
quirements. Still, il Is apparent from al
the accepted crteria of industry, such
as railway gross earnings, bank clear
ances, and the like, that business Is
| holding its own and perhaps gain
| Ing little, as may be indicated by
| the larger demand for railway equip
| ment, the surplus cars in yesterday
| report diminishing 57,7O4 from the num-
| Der reported idle two weeks ago.
! Timc and call money showed no ma
tcrial change, despite heavy gold eX
| ports Of SS.O00,0n0. Bankers. both foreign
| and domeatic. with the exception of th'
! SHIPPING firm, insist that the vellon
metal is going out at loss, but this II
not an unusual allegation when cX
| chang is lowering close to the gol'
shipping poin'. end the financial distric
| is not concerning itself much with tn,
! TIattcr. The bank statement of the da!
| vas somewhat bette than had beef
| anticipated. Tho report OF actual con
ditiOns reflected a cash loss Of IS, I43 OJ
when one of approximately $1,000, 900 hac
| bt en- predicted. I.onns increased 0,329,
| l00 and deposits decreased $5.5SS. 900. Th
surplus reserve VAS diminished $GH59, ,00O
| tut as il stands at S37 6l6,S $50 above re
! uIIirCments and money shows no sign
Of hardening. this feature attracted NJ
I special attention.