Elk City mining news. (Elk City, Idaho) 1903-1913, 1913-05-29
GENERAL TRADE CONDITIONS
Export of Gold Increased While Loans
Decreased-Tariff Revision
Having Its Effect.

Having Its Effect.
The Financier says: The state
ment of the associated banks of Nov,
York for the third week in Mov
failed to disclose the anticipated gain
of about $3,000,000 in cash. The 40.
tual figures showed a small increase
of $10S,000 in specie and legals hut
| considering the export of $4,000. 0oo in
| gold during the week the Statement
was altogether unfavorable, particus
larly since the decrease of 81. 323 ooo
in loans brought about a correspond.
ing decrease Of STATS, 900 in deposits
lessening reserve requirements bv an
amount sufficient to increase surnlus
| by $3,s46,95O, the present excess
standing at $19,S02,6 600. The surnms
based on the average system stands
at $16,940,500.
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 we'll expanded az
regards loan commitments and again
because there will fall due within tbe
next three months more than 5000. OOO-
600 of maturing securities, mostly of a
short time nature, which will have IN
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-
ficient to make for a satisfactory. if
not, indeed, active, distribution on cur
rent account.
Consequently jobbers' stocks, which
are by no means large, are being sub
jected to further inroads. and though
there is considerable evidence of fire.
quent shopping for small parcels. this
tendency really is indicative of a
wish to cut cloth only when and as it
is needed. On the other hand, buying
for future accounts, except in few
sections, feels the incubus of pros
pective tariff regulation, and it is over
this aspect of affairs that most eau
ton is manifested.
Business failures for the week end
ing May were 243, which, compares
with 260 in the like week of 1912.
Business failures in Canada number
SO.
Wheat, including flour, 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 a marked
increase of confidence throughout the
West and South. The passage of the
tariff bill by the house of representa-
tives brings the end of this element
OF uncertainty measurably nearer
Meanwhile, it is most encouraging
fact that reports from So cities show
gain in building activity for April
OF 1 per cent as compared with the
same month in 1912, a 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
trade, although merchants are still
conservative in placing filling in or
ders. There is a 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
ly small, amounting to only or per
cent this week. Recovery from West
ern flood effects is now nearly COM
plete. Railroad earnings in April in
creased 81 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
during the remaining months of the
year.
The movement which. has been