Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1913-05-23
GENERAL TRADE CONDITIONS
Export OF Gold Increased While Loans
Oecreased-TariH Revision
HAVING Its Effect.

Oecreased-Tariff Revision
Having Its Effect.
The Financier says: The state
ment of the associated banks of New
York for the third week in May
failed to disclose the anticipated gain
OF about $3,o00,0O0 in cash. The &C.
tual figures showed a small increase
of $10S,000 in specie and legals, but
considering the export of $4,000. 900 in
gold during the week. the statement
was altogether unfavorable, particu-
larly since the decrease of $7.323, 900
In loans brought about a correspond
ing decrease of $7,479,O in deposits.
lessening reserve requirements by an
amount sufficient to increase surplus
by $3,S46,950, the present excess
standing at $19,S02, 600. The surplus
based on the average system stands
at s16,040,5oo.
The exports OF gold at this time
have been regarded with more atten-
ton than usually Is the case, for the
reason that the banks throughout the
country are rather well expanded as
regards loan commitments and again
because there will fall due within the
next three months more than 5000, 0O0,-
600 of maturing securities, mostly Of a
short time nature, which will have to
be renewed or funded into definite
bonded obligations.
Bradstreet's says: Trade move
ments evidence the existence of some
barriers to active progress, but the
weeks reports, nevertheless, indicate
that current needs are Of heavy vol
ume and that they are more than suf-
icient to make for q satisfactory, IL
not, indeed, active, distribution on cur
rent account.
Consequently. jobbers' stocks, which
are by no means large, are being sub
1ected to further inroads, and though
there is considerable evidence OF fre-
quent shopping for small parcels, this
tendency really is indicative OF q
wish to cut cloth only when and as It
Is needed. On the other hand, buying
for future accounts, except In q few
sections, feels the incubus OF pros
pective tariff regulation. and 1t Is over
this aspect Of affairs that most eau
ton is manifested.
Business failures for the week end
ing May 8 were 243, which, compares
with 200 In the like week OF 1912.
Business failures in Canada number
SO.
Wheat, including -four, exports from
the United States and Canada. for the
week ending May Galveston mis-
sing), aggregate 3,214,150 bushels.
against 3,14S,595 this week last year.
Dun's Review says: In spite Of
some curtailment Of orders for mer-
chandise affected by pending tariff
changes, the unusually favorable crop
conditions have resulted in q marked
increase of confidence throughout the
West and South. The passage Of the
tariff bill by the house Of representa-
lives brings the end Of this element
OF uncertainty measurably nearer.
Meanwhile, 1t is most encouraging
TACT that reports from So cities show
q gain in building activity for April
Of per cent as compared with the
same month In 1912, heavy de-
crease at New York city being more
than Offset by gains elsewhere. par
ticularly at Chicago and at most
points in the West, and on the Pa
cific slope. Production OF iron and
steel continues to be close to capacity
but new demands are now less insis-
tent and deliveries are being made
more promptly. In textile lines,
warmer and more settled weather has
greatly improved the volume Of retail
.rade, although merchants are still
In placing filling In or
1ers. There is moderate gain In
The shoe trade. There Is somewhat
better outlook for leather, but hides
continue easy.
All speculative markets are dull,
and this fact accounts largely for the
decrease in bank exchanges from last
year, which, however, is comparative
y small, amounting to only OF per
cent this week. Recovery from West
srn flood effects is now nearly COM
plete. Railroad earnings in April in
~ per cent over last year.
Financial sentiment In the East is
less cheerful than mercantile senti-
ment In the West, but money locally
continues easy. Heavy refunding Of
corporation issues is, however, due
iuHng the remaining months OF the
year.