Elk City mining news. (Elk City, Idaho) 1903-1913, 1913-06-26
GENERAL TRADE CONDITIONS
New York Banks Make Gains-West
Still Leads the East
The Financier says:

Otlii LcduS tic GdSl.
The Financier says:
The statement of the associated
banks of New York for the week end
ed June IA reflected in part the heavy
liquidation of the stock market loans
having shown decrease in the report
based on actual operations, of $780,
$4,000.
There was corresponding decrease
of $11, 032, 900 in deposits and the only
feature of the statement that did not
seem in accordance with we'll known
facts regarding the movement of
money was the small increase of $4O3,-
600 in cash.
The preliminary estimates made the
gain of the New York banks, as re-
suit of known operations, nearly
S., 900, 900, but this was not shown in
the statement. The effect Of changes
noted was to increase reserves by
S., ITS, 900, the surplus net above the
25 per cent minimum standing on Sat
urday at $29,9S7, 400, which reflects a
comfortable position SO far as cash is
concerned
The trust companies of New York
city, in their report made independent
~ VI lllO SlCdlill6 uOuoC, ouOWCQ q Q0-
crease in all leading items. The prin-
cipal changes have been shrinkage
of $4,750,000 in deposits and nearly ST.
100000 in cash, while loans fell about
100000.
Dun's weekly review of trade says:
More seasonable weather has had a ia
vorable effect on retail distribution
throughout the country, and while a
slight recession in wholesale business
is apparent in some sections of the
west reports from several centers
show trade to be more active than a
year ago. Needed rains have greatly
benefited the crops in the southwest.
New business in iron and steel falls
short of production but the mills have
plenty of orders on hand and it is ex-
pected that active buying will be re-
sumed before these become exhausted.
Cotton goods are in good demand, al
though buyers are still operating con-
servatively.
Wooden mills have reduced activity
owing to tariff uncertainty and silk
mills on account of strikes, but stocks
in all branches of the textile trade are
abnormally low, which will favor a
prompt resumption of full time opera
tons as soon as the present restrain
ing influences are removed.
Trade in leather and footwear is
quiet. Railroad gross earnings for
four weeks in May increased rs per
cent.
Bradstreet's says: Varying factors
are presented by this weeks reports,
financial pessimism plus apprehension
over tariff changes being in sharp
contrast to very favorable returns as
to actual current trade and as to
crops. Better weather has improved
distributions at retail centers, iobbers
throughout a wide area of the coun-
try enjoying a good volume of bust
ness for prompt delivery
But the financial situation, involv-
ing, as it does, stock market liquida-
ton, tight money and more than usual
difficulty in making collections, to-
gether with certain degree of Hncer-
tainty regarding tariff matters, con-
tinues to hold up operations for the
far future. Withal the trends of the
week have been rather more encour-
aging than otherwise. In the princi-
]
of dry goods by jobbers have been of
record proportions-that is, for a
cleanup.
Stocks of various kinds were en-
tirely exhausted and in some cases
jobbers are unable to fill orders
promptly. Trade currents continue to
run at swifter pace in the North
west, Southwest and West than they
do in the East.
Wheat, including flour. exports from
the United States and Canada for the
week ending June are the largest
in dozen years, aggregating 1854
259 bushels, against $685. 1857 bushels
last week and 5,90S,693 bushels this
week last year.
Business failures for the week end
ing June were 215, which compares
with 1877 in the like week of 1912.
Business failures in Canada for the
week terminating with Thursday num-
Der A, which contrasts with 10 in the
corresponding week of 1912.