New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-09-16
Balance Of Trade Increasing.

statistics Of imports and exports for
,oodstuffs wholly or partly manufactured
manufactures for further use in manu-
f,eturing and manufactures finished
,esdv for consumption for the month of
lu,y and the seven months ended with
Iulv. 1919. make a total OF 1896. as, 10S. as
compared with ssh. SS2, go in 1912. \
st-ikinc difference in the development Of
imports and exports during the period Is
Exhibited In the fact that while in 1912
The total imports amounted 10 Sl,0SS, SIS, 45i
IN 1918 for the seven months they amount
ID 10 only s,01Ss1l, f75. showing a reduc-
ton OF SIS 4l7,SS9. On the other hand. ex-
ports for the same period in 1912 amount
ed to s., 94S 50l SIS, while in 1913 the total
was s. 81 ~. 49, an increase OF $7s,I5l, 579
Exports from the United States were in
creased 10 Europe. North America, South
America and Asia, while 10 Oceanica and
Africa our exports decreased. For the
seven months period our imports from
Europe. Asia and Africa increased, while
North America. South America and
oceanica made up the grand division from
which irnportations decreased.
Figures are ConrUsin9'
some question regarding the real copper
situation has been raised recently. and
the following comment from c. S. Trench
& Co.'S market report IL timely:
1T is claimed in some directions that
here has been a transfer OF copper into
Invisible stocks abroad. During the fret
eight months OF this year the exports 10
Europe were 5000 tons greater than last
YEAR. and yet the visible supplies Of cop
per in Europe, compared with January !,
show a decrease Of $50 tons. The large
increase IN apparent European consump-
ton this year would seem 10 call for eX-
pianauon. The next few months Will
demonstrate whether or not a large in
visible stock abroad exists, and if II does
ii will be wanted. We think, 10 prevent
very much higher prices
Banking Condition Favorable.
The September IS issue Of The Fnan-
cier' il not disturbed over the condition
Of the national banks Of the country. and
concludes that al least they are as strong
as at the corresponding period last year
and in some sections much stronger. The
following is quoted:
The central reserve cities according TO
the consolidated reports OF the Controller
Of the Currency. based on the call OF
August Q. show legal reserve Of III per
cent compared with 2473 on September 4.
49, while the ordinary reserve cities
stand in about the same position. The
country banks OF the Southern states OH
August last had legal reserve of 1853
per cent, compared with 1914 per cent
eleven months ago. The reserves OF the
Western states country banks were l6.lo
per cent on August 9, as against l5e2 per
cent last wear. while the percentage 81
reserve Of all the country national banks
Of the United States stood at 49, per
cent on August 9, az compared with !6~O
per cent on September 4, 1872 Admitted!E
the banks do not seem 70 have mucI
extra money TO loan, and 1t Is this aTsl-
ment that has sent rates up somewhat
during the last week or so. Nevertheless
the banks are loaning money and 1t Is
probably the freedom from anxiety. ar!s-
ing from the certainty that assistance Il
obtainable from the Treasury Depart
Iuent. that makes the banks willing 10 ca
tend their position 20 point that other
wise would &c regarded Is imprudent II
not unsafe"