Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1913-05-02
GENERAL TRADE CONDITIONS
Banks Make Gains In cash-Wheat
Crop Report srows Great
mi

-
Banks Make Gains In cash-Wheat
Crop Report srows Great
Promise.
The Financier says:
Following the strong statement of
April ~ the New York clearing house
banks made an exceptionally favorable
exhibit for the week ended April 10.
It had been estimated that the banks
had gained during the last six days
something like s. 5000. 900 as q result
Of the interior movement, but the
statement Saturday showed an in
"a In cash of only $3,173, 900.
However, siuce loans decreased &c.,
7S6. 1000 and net deposits fell 50, 1855, OOO.
thus ~lessening reserve requirements.
the weeks operations resulted in an
expansion of $4.1S1,400 In reserves,
bringing the present surplus above
the IS per cent minimum to $19, 1885,
$50, OF about on q level with the sur
plus for the same period one year
ago.
Money continued to flow in New
York. and with the lowering Of the
Bank Of England rates this week the
outlook is that the banks for the time
being face q position where the sup
ply Of funds will outrun the demand.
Dun's review says:
While the principal industries and
trade are still experiencing some
abatement Of activity as q result Of
the recent foods in the west and the
conservatism produced by the pending
tariff readjustment there Is apparent
ly nc fundamental or permanent
change in the situation. The reduction
In the Bank of England rate Of dis
count to Az per cent, the financial
improvement in Germany and the easi-
er tendency of money In u own
markets are among the most favorable
developments of the week.
These factors account for the feel
ing Of confidence which generally pre-
walls in mercantile circles in spite of
the reduction In current consumptive
demands. This reduction reveals itself
in the statistics of bank exchanges,
the volume Of which this week de-
creased 81 per cent from last year,
though the total was 1913 per cent
higher than In 1911. Railroad gross
earnings declined 3.3 per cent in the
first week Of April, due mainly to the
reduced traf1c on the Southern and
other roads affected by the floods.
The steel trade has not yet fully re-
covered from the effects of the food
disaster and the declining price tend.
ency In pig iron Is pronounced.
Copper is frmer. In the dry goods
trade purchases for current needs are
large, but there Is little anticipation
of future requirements.
Foreign commerce maintains not SO
large proportions and at the port Of
New York In the latest week aggre-
gates $4O,068, 227. against $39, 584,445 in
1912. and $28, 192. 099 In 1911.
Failures this week In the United
States Is reported by r. G. Dun & Co.
are 295, against 319 last year.
Failures In Canada number ~.
Bradstreet's says: Better weather,
excellent wheat crop reports, renewed
activity by farmers, resumption OF
operations in the flooded districts OF
the Central West and a more reassur-
ing outlook in the lower Mississippi
valley are the leading favorable feat
ures Of the week. Over against this
must be set the increased prominence
OF tari6 discussion, particularly az re-
CARDS the textile industries in the east
ern states, and the continuance Of q
degree of stringency in the money
market despite more evidences Of cas-
ing both at home and abroad. On
balance the situation presents a fairly
favorable position because Of displace-
ment Of cold, wet weather by sunshine
and warmth has made for more active
retail trade at most points. Jobbing
trade for immediate spring and sum-
mer months is still fairly active. and
the arrival Of seasonable weather
makes for enlargement Of activities in
q myriad OF lines connected with pro
duction and consumption. Even in
lines supposed likely to be vitality at
fected by tariff changes the feeling Is
that 1t Is best to have the matter over
and done with, and there Is rather less
than the sual fear of foreign dumping
IN domestic markets, partly because Of
active trade In Europe.
The stock market sentiment is un-
settled by the developments in the In
vestment situation. The Offering of an
issue Of AZ per cent st. Paul railway
bonds at below par and the merely
partial filing Of the subscription are
deemed indicative Of the restricted de-
mand for such securities.
Business failures for the week end
ing April II were 600. which compare
with 260 In the like week Of 1912.
There were 81 failures In Canada.
Wheat, including -four, exports from
the United States and Canada for the
week ending April II aggregated s..
59s.b92 bushels. against 2,s43.7s BUSH
els this week last year.
MEXICAN REes TAKE vANE0As
Tie Up $500 MlIss Of Railways Near