New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-30
ACCUMULATED PROOF
National Prosperity Now Recog
nized at Eyery Point.

develoy ing national prosperity, broad
wholesome and quite independent OF con-
troversial issues that usually breed I'M
certainty and hesitation. Many years
have passed since there has been such
unanimlty Of testimony as to the WIDEN
ing Of business activity. Even some Oh
the lines which have been tagging are
now developing the same progressive
spirit which for some time has existeo
in the iron and steel industry and Is max
ing that trade break all previous records.
! Consumption has not only overtaken pro-
duction, but Is rapidly pressing ahead OF
1t, and In some important points scarcity
Of facilities, scarcity Of labor and scar
city Of transportation appear as the ihe'-
liable accompaniment Of an accommodating
demand. Copper production and consump-
ton are both enormous. Not only Is the
distribution Of drygoods In the various
branches of the trade larger than last
year. but the leading merchants eN-
pect a continuance OF the demand ana
are looking forward to year OF general
prosperity. Conditions In the shoe traoe
are now tending to the same degree or
activity. The great Middle West is ex-
periencing all the benefits II big crop
year. The Pacific Northwest Is Rejoicing
In revival Of the lumber Industry. buiiu-
Ing operations continue active In many
of the large cities. Heavy rains have IN
| terfered to some extent with retail dlstri-
button. but this Is merely temporary. Inc
money market Is very firm end appears
likely to continue so for some time, but
/ 20
ouately served, and II Is notable that
speculation, which 50 often attends 1or-
ward movement In industry. has not be-
come rampant and harmf The stats
teal records Of the week ara eloquent
Of the widening industrial and mercantile
activity. Bank exchanges this week out
side Of New York gained 1875 per cent over
1911 and Il per cent over 1910. while In
| New York the increases were 6.s and Io.'
per cent, respectively. Railroad gross
earnings In two weeks Of September
gained 40 per cent, and while there Is not
so much new railroad construction as in
the past the railroads have been, ana
are, buying freely Of supplies and making
every effort to prepare for the heavy new
traffic. Foreign trade is well maintained.
for the latest week at New York the
movement in and out aggregating KEW =
$50. against SO, 500, 4OS a year ago. Ex-
ports this year were nearly S.Woo"
larger. while imports were more than
| s., 900 smaller than In 1911.
| In the iron and steel trade the pressure
in the market for deliveries is reflected
| in the sharp demand for pig iron this
week, quotations tending higher and the
market as q whole being In very strong
position. Orders continue to come in
| freely and the mills are provided practi-
! cay TO the close OF the year. Much dlf-
| ficu lty is still experienced In meeting the
demand. Merchant pipe, steel bars and
sheets are in urgent request and the
movement OF plates and shapes iG heavy.
"Bradstreets" in one paragraph has the
| following:
Buying In person, by mail order or
through the medium OF road sales main
tains activity in the various lines OF dis
tributive trade. Shipments on orders ire
viously booked are going forward In rol-
ume and one OF the most significant feat
ures Of the general situation Is the In
s,stent call for prompt deliveries. which
indicates that stocks do not lag super
fluous on pur 1eyors' shelves. In host OF
lines one hears the expression that condi-
lions as regards sales are better than for
some years past. Withal. buyers are not
making large forward commitments. prob
ably fearing future political developments
but within the week purchasing OF heavy
winter goods became more animated. "A
touch Of frost In parts OF the West, North
ives. and Southwest having been the
stimulating factor. At the same time. the
lower temperatures benefited retail trade
In the zone indicated, though quite gen.
eral rains deferred shopping, thus ad-
versely affecting distribution in some
branches and making for irreguarity.
Incidentally rains followed by frost and
sleet wrought some damage to corn In
the Northwestern states. but while tho
lower temperatures extended as far south
west as Oklahoma, no great injury was
done in that section. 1t Is believed that
most Of the crop is out OF danger from
frost. However, the less propitious
weather conditions have hampered thrash
ing Of spring wheat, while probably In
Turing some Of that still in shock. Cotton
has also suffered deterioration. and rains
in some sections have hampered picking.
but the yield. on the whole. will be
large one. although It seems certain that
II will not attain the expectations OF
some few weeks ago. Farmers are mar
keting their grain In large volume. the
movement for the last four weeks aggre-
eating 107 900, 600 bushels, or "a per cent In
excess of the corresponding time last
year. Exports of -four. wheat and oats
are exceptionally large. and the transat-
lantic shipping trade Is brisker than t
has been in years. Prices are remunera-
tive and the recipients thereof are liQui-
dating debts. The heavy grain movement.
combined with large shipments OF general
merchandise and insistent calls for coal.
has thrown burdens on the railroads that
they are unable TO meet TO the satisfac-
ton OF all. Therefore, the shortage of
cars is becoming more noteworthy. and
some coal mines In the West have been
compelled to temporarily cease operations
until cars can be obtained. Industrial
operations are moving along at a brisk
rate. Steel plants are well sold ahead.
and as a general rule TO more orders can
be taken for delivery this year. Buying
OF bars for 1913 is going forward. steel
making pig irons are higher. additional
furnaces are preparing to so into blast.
buying OF rails is a feature, car plants
are well sold up and coke Is very active,
with future business in plates and struct-
ural shapes presenting the quietest as