The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-07-04
DEMAND SPREADS
TO MOST ALL LINES
Reports Show Calls on Nearly
Every Business and Trade
Are Increasing.
BANK CLEARINGS LARGEST
Building Is Gaining, While
Many Industries Are More
Active Than Usual.
BANK CLEARINGs LARGEST

products in nearly all lines IL the chief
feature of the past week in business
and industry. A renewal of activity
In the big basic metal industries Ia
pointed out by trade reviews as ono OF
tho most encouraging signs of the year
Records established In bank clearinss
during the last month throughout the
country are taken as an indication OF
pronounced Improvement
Trade and industry gathered rather
than lost momentum at the turn of the
year." says Brodstreets, land the bust
ness world is shaping its course for the
last half of 1919 with demand for fall
reinforcing that for immediate delivery
increasingly eager. big basic metal in-
dustries showing renewal of activity In
output and strength In prices. few signs
of midsummer 1et-down in operations,
food prices manifesting marked strength
despite very promising crop prospects
and with very marked confidence among
financial interests-indicated by the
starting of new enterprises-in future
prosperity. Available records of past
accomplishment lose little. II at all. In
contrast with the best of past years
Bank clearings for June and the half
year are the largest ever recorded, while
failures are the smallest in number in
thirty-nine years and failure damage
the lightest reported in a dozen years.
More truly than at any previous time
since before the war began Is ordinary
distributive demand making a virtual
roll call Of the country's products. Some
hitherto tagging lines metals particular
ly, are showing increasing confidence
on the buying side and records OF June
output show that announcement of the
turn made seme time ago was fully
justified Reports of increased buying.
enlarged mill outputs. heavier pig pro
duction and an increasing number OF
furnaces in blast are accompanied this
week by advices Of higher prices asked
by casters furnaces. while scrap metal
an old-time barometer OF the trade, has
been again marked up.
Building Is Increasing.
Building is Increasing in activity.
and lumber. building hardware and
other materials are still growing in de-
mand Increasing realization OF the
fact that coal production has been only
rs per cent. of last years to date il
seen in the numerous eXhortations to
buy rather than risk shortage when con-
weather comes and there are reports OF
more life in demand at centres and In
creased shipments to the Northwest
from central producing regions. Coke
is stronger and demand better"
Not only was the period that elapsed
from the signing of the armistice 20
| the contamination OF the Peace Treaty
lconspicuously devoid of economic set
Element, of which many people had been
apprehensive." says Dun's RevieT, but
the first half of 1919 closed with good
progress made toward the restoration OF
pre-war conditions. The general sta
Ibility of domestic business during the
readjustment era is attested by thu
strikingly favorable record of failures,
which were fewer in number in the six
months Just ended than in nearly four
decades, and sentiment in financial and
commercial circles is one of satisfaction
with results achieved and OF optimism
regarding prospects. With freer inter-
course between nations possible. Interest
in development OF overseas commerce
further increases and charging demands
of many buyers, who have come into tha
markets here from practically every I'm
portant foreign country. testifles 20 OK
tenslve needs abroad for American COM
moditIes.
The present extreme prices appar-
emily do not discourage purchasing
where supplies are urgently required to
fill immediate wants or for replensh-
ment and consumption OF staple article
and luxuries. even in sections whore
crop indications are disappointing. CON
tinues of notable dimensions
Season Unusually Active.
"There is now less than the usual r,.d-
year halting OF activities, and in sorOs !!
dustries. where revival from tho NCent
repression had been tardy in matnng its
appearance, as in iron and steel, the
rate of production Is rising steadily
with manufacturing facilities ziore com
Ipletely engaged than at any time since
the lull that followed the arInistice ant
still greater calls on capacity probable
the element of labor shortage looms UP
AS a rest raining factor and some estar-
,llshments complain OF inability to main
tain full equipments In operation.
THE half yearly insolvency state
ment does not tell anything that re-
cent monthly returns had not indicated
but II Is mono the less significant FOR
this reason. With 3,463 failures. eX-
elusive of banking and other non-con'-
mercial reverses, the numerical EXHIBIT
is the best for the period since 1881.
and the liabilities. s6s,71OSss are
smaller than in any similar six months
in moro than a decade. From last
years comparatively moderate NOR
tality decreases OF 412 per cent. IN
number and PIT per cent. In amount ~
Indebtedness arc shown, and not only
were there fewer defaults In every geo
graphical section. but In tho south cen
trail States alone was a larger sum a,
money involved than in 1918. June In
solvencies, ass. set another new low
monthly record, and each month OF trs
last fifteen. with two exceptions, ha-