New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-06-15
functions of government. new schemes
for Ie.sening the gap between those

for lessening the gap DeI"NV"
that have and those that have not are
reouiring such readiustment that cap'
tai is showing natural hesitation ~
beginning new enterprises. yet ~
cepital must seek employment 1t is to
be expected that an opportunity to- &C
commodate itself to DEFINITE new condi-
lions will result in an upturn OF nusl-
ness.
Many business men feel that in spite
OF the changes incident to tarih re-
vision and antitrust legislation better
hr,inr in this country must begin 10
show widespread beneficial results be
fore the end of the year. commence -
.xnressed that railroad ordering mas
been so restricted pending action on
the higher tariffs of the Eastern roads
that fairly large commitments must
fellow announcement OF the DECISION
no matter what it's nature might Ne
Actual hostilities between this country
and Mexico are not being generally re-
ssrded as among the probabilities.
All this however is hope of the nut
IRE Little definite evidence OF any
approaching betterment in business ap-
reared during the week. Idle irelgnI
cars continued 10 accumulate in recoru
volume the total al the end or last
month being come 5000 greater than
an Nav Is. Copper on hand in TINS
country at the beginning OF June wa
over 1000 tons greater than III ne
north before. A reduction or produc-
t;on was more than offset 10y lower do
nestle deliveries. and greatly curtaieu
EXPORT. Unified orders of the Unlleu
States steel Corporation IN the last VI
MAY had shrunk to the lowest 'o'a'
since October. 1911 The steel business
however. contains some dehnite sign u
upturn. orders for June being Tepor'eu
on = heavier scale, with the purchases
Of pig iron continued Bank clearinsS
ver. low. New York's quiet securities
market accounting for much OF the ue-
pression. Gross weekly railroad earn
ings for MAY were mateiIali! lower
A
than those Of 1913
Great Shipments Of Cold
Europ. drew heavily on this market
for gold during the week. the sum OF
exnorts being over S190OO,OOO and en-
gagements Of 100000 more yes'er-
dav brought the total since the hrst
~ Nav TO more than s42,Vo.ooV
and for the year so far to above 500
/ 600 900 High exchange rates mere III
dicated considerable further movement
~ gold 10 Europe before payment lot
.binuents Of grain and cotton or pos
sible buying back Of our securl'ieS
/ turns the tide. Demand sterling at the
end If the week had gone above a.o9
and closed firm at 4.SS9o.
Flow Of currency from the interior
in part offset the gold exports ana the
bank statement conditions at the ne
ginning of business Saturday morning
showed loss of less than SSooo'ooo
in cash. Loans, however, because oil
tho requirements of railroad financing
were some sol 100000 greater and de-
nosjts increased about S10OO0,OOo. AS
q result Of these changes, surplus re-
serye feu nearly 100000 to sAZ'-
81. 200. still great enough in the
present slack demand for funds to
make any appreciable stifening OF
money rates here improbable.
Money was little sought here and was
only little frmer. Call loans were
renewed at 1% per cent, except on
Tuesday and Thursday, when the re-
newal rate was per cent. Time &C
commodation was only tribe higher.
The Bank Of England reported the
most favors BILE changes in months; the
increase in bullion Of over t9O0OD was
the greatest since the latter part OF
January, when the bank rate was re-
duced 70 per cent. The proportion
of reserve to liability went ! points
higher. The Improvement should be con
tinued. however for both reserve and
gold are low for the season. The
Bank of France added over l4,UoWo
francs to its gold and the Imperial
Bank Of Germany recovered 100000
marks Of gold holdings lost the week
before.