New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-06
TONE Is CHEERFUL
Commercial Agencies View with
Optimism the Situation.

Optimism the Situation.
In the weekly 'Dun's Review" which
summarizes tho last year. the following
appears:
1.-THE new year opens with al tho gains
and advantages achieved during the last
half of 1912. There is Of course the lull
usual during tho closing days Of the year
due to the holidays and the annual read
tustments and inventories; but underlying
conditions remain unchanged and the new
year takes over from the old the increased
agricultural wealth resulting from the big
crops, the great activity In the largest
industries, especially iron and steel, the
augmented confidence in nearly all
branches Of domestic trade, the record
breaking foreign commerce and the full
employment of labor at high wages. insur-
ing large buying power With this legacy
from 1912, the maintenance or a salts
factory volume of business during at least
the earlier months Of 1913 Is apparently
assured. Further than that even the most
experienced foresight cannot safely prog
nosticate. for much will depend this year.
as always, on the yield Of the farms and
the Developments in international and ma
tional governmental policies. When 1t Is
said that bank clearings during 1912 In
creased 93 per cent over 1911 and 90 per
cent over 1910, and most OF the gain was
made In the last six months, some IDEA Is
obtained Of the immense advantage with
which the new year starts over the conol-
tons existing twelve months and twenty
four months ago. Railroad traffic, more
over, Is very heavy. the latest statistics OF
gross earnings showing a gain OF b.S per
cent In the three weeks Of December. The
usual shutdowns in tho iron and steel
trade at this season have been very short
because Of the great demand for all prod
ucts In the cotton and woollen trades
the seasonal slackanfng OF business In
dicates no fundamental change In condi-
lions, for tho outlook Is an encouraging
one, in spite Of probable tariff legislation
The output is practically limited by the
capacity Of the plants and the supply Of
labor. From all the leading cities. both
East and West, the end-of-the-year ad-
vices are satisfactory in most OF the ma
terial points, and generally an optimistic
spirit prevails. In cotton the two balanc-
ing factors are the largo port receipts
which confirm the indications of crop
second in size only TO that Of the preced-
ing year. and the big exports and domes-
tic trade. In tho shoe trade. with the
exception of the holiday let-up, condi-
lions are excellent and production IS near
to capacity. The stringency expected In
money at the year-end failed to material
ize. comparatively easy terms prevailing
both here and abroad. Partly because Of
he easier conditions locally, there was
sharp advance IN foreign exchange; yet
rates are still considerably lower than
last year. The foreign commerce Of the
Port OF New York in the latest week
amounted 10 SCI, 3Ss, IA. against s2s99s,662 IN
1911 and 32.493.e4s in 1910. Exports were
larger and imports less than In 1911
"Bradstreet's" review OF the last year,
in brief. Is quoted:
THE year 1912 was one Of remarkable
achievement In agriculture. in trade ard
I'm industry. 1t saw set up mapy new
records OF crop yield Of commodity price
movement, OF foreign and domestic trade
and OF manufacture. II observed some
notable changes along political lines, Wit
Messing the overwhelming defeat OF the
party dominating the country absolutely
for sixteen years, and which. with the
exception OF two Presidential terms, had
controlled national affairs for over a half
century, the birth OF a new political or
ganization, while heraldng tho return 10
national power o. an organization which
had lain dormant practically since 1896. 1t
saw registered some great changes In leg
islation and some new legal definitions OF
existing laws. which, however seemed 10
be received with equanimty II not with
| actual indifference. Despite the interest.
approa ching excitement, apparently In
separable from American national cleo
lions, the country's business moved for
ward. with some Irregularities visible at
| times, ii is true. but, on the whole with
steadiness and an Indifference 10
clamor whether OF political or OF quasi
economic origin, which was refreshing TO
| those who had not lost faith in the re-
public and comforting 10 those who be-
! lieve that IN beneficent crop returns and
sober. solid hard work and industry,
rather than in political nostrums, is TO be
found true conservation and real national
progress. Tho country's participation in
| international politics was along peaceful
lines, and while the interdependence Of
| the nations subjected 1t TO strains grow
ing out OF European war and financial
disturbance II was spared the alarms or
the open hostiities which afflicted all the
nations of the Old World and some coun-
tries In the Western Hemisphere Briefly
stated. IL was a period OF peaceful prog
ress and plenteous production, during
which were laid some firm foundations
for a season Of prosperity In the current
year"
THE PRINT CLOTH MARKET.
IBy Telegraph 20 The Tribune
Fall River, Mass. Jan. 6.-The New