New-York tribune., 1913-08-04

western account not affected by corn
crop deterioration has abated somewhat.
on the other hand, Southwestern advices
indicate that house trade has expanded.
and in that section Of the country. as
we'll as in the Northwest, feeling as to
the future is decidedly optimistic. buoy
ancy being impaired by the tendency TO
increase estimates Of wheat yields. At
the same time trade in the South ap-
pears 10 be improving. and sentiment Is
certainly better, chiahy because OF the
better condition OF cotton, as compared
with a year ago. As regards the leading
crops II seems certain that the total
wheat yield will be OF record proportions.
that cotton will furnish large crop. but
that oats. hay and corn will be shorter
than last year, when all three were,
however. record breakers. II is 10 90
noted. however. that corn crop killers
are as actively AT work in respect 10 that
cereal as they were in connection with
wheat a month ago. and, moreover, re-
cent meteorological conditions have been
such a. 70 check further deterioration
from drouth, II being cooler IN the corn
belt Distribution at retail has been af-
fected by heat. bur clearance sales are
being vigorously pushed in an effort 70
clean up stocks. Buying Of pig iron re-
fleets more activity and prices suggest
a frmer undertone, with stronger evil
dence of an upward turn. However. sales
of finished material are only about 30 per
cent Of current shipments. but the pub
lished earnings Of the leading interest
4. Al
deemed TO be favorable. the showing be-
ing the fourth best report ever made by
the corporation. and one that for sec
ond quarter was only surpassed BY the
like three months Of 1907. The railways
are inquirng for rails for next year, ana
traffic with these carriers continues eX-
ceptionally heavy. Thus, Chicago advices
indicate that the railroads handled more
loaded cars in July than were ever
handled In any other corresponding
month Labor is quite well employed.
though strikes are rather numerous. and
in the Eastern textile industry mills are
not operating 10 capacity Sngularly
enough. there are reports that some tex
tile plants. despite industrial dulness' eN-
perience a shortage OF skilled help. The
railway trainmens grievances are to be
submitted TO arbitration. the roads hav-
ing Withdrawn all obstacles Wheat con-
iinUes 10 move 70 market in large volume,
and II is evident that Western bankers
are playing an important role in ms
respect Exports OF that cereal for the
week are OF large proportions, the weekly
outflow from this country and Canaaa
since July l having averaged about five
million bushels. Money continues 70 COM
mand nigh rates demand is active. co.,
lections. even in the best cases. are not
above fair, and country banks are oor-
rowing for the purpose OF moving grain
crops. and shipments OF currency 10 the
Interior are increasing. The action Of the
federal Treasury I'm deciding 10 deposit
funds in the West ard South. accepting
commercial paper in part as security. Is
calculated 20 relieve some OF the none
tary strain. Stock market prices. after
show OF strength. have receded, out
sentiment appears 70 be optimistic and
the extent Of TIE rise since the market
turned on June 10 has naturally Induced
realizing sales"