| Show RECOVERY INTONE IN-TONE OF BUSINESS Improvement Duo to Buying That Followed a Drop In Prices 11 CALLS FOil MODEUATION liror 11 III Kooil te Ml riled l > r 110 saw nil i l > roerl Him Mil Mill fertile old Illlher special Cormpondene New York June 17 inatlurlnc Iht Insist l wttk Hitra has been Some recovery In the Ion of butlntn on the Block ichangt Th Improvtmtnl appara lo have bean mainly due to the tncour agement to buylrlg Votittquent on the Previous drop In prtcta th Iranaat tkma however hv not been large And the ptaond half of the week was marker by A rllapoaltlon tn reallat on the few disposal advances with aom con attiuvnl yielding In I rlrta There are plenty of strong helltvara l In the In irlnale alrmgth of Iht jnarket but they Are cautious against unloading under certain clmimtlancta In the alluatlon which are ofn unusual nature anti In llutnce of which cannot be exactly measured ndoubltilly the petition la I ont that calls for moderation rand ctrcumapeo lion It la Into that the general 1 conditions con-ditions tot national rorlly I which fill e rim to the great advance early In tile year still remain In their full Ion and the Impo they prolueell allll folio Its Influence Hut In I IU lotion It It l1nPaft1bhP 10 make Ilia maximum rang of irloea perpetual no mailer how much i million may teem In favor and I II may really Im tourist that In the present poaltlm a further decline In prlc will be Rld In order lo relore rtnlly active buy hig I land fully recuperate the bull topics At an earlier Plage of the campaign It wa mainly a queatl Ion of how muih the value 01 p warit I had been en hancril by the great burst of national innimlity That Iulon wait I lowered by AN CSKQIIAIII u nisB In Prices and note the location loan come 10 ttio1voilt fr values BhoulJ tj rrI1 by the Imlrlnl change In the Itr of Ouritical mi the market It la doubtful 1 I whether ouillojent often lion I boo lower given lo the extent 11 which wrurltlea hae been returned from Kurope within lain months Ono On-o Im ttornlng I paper ties male care fill Inqulrlea among seven prIncipal i ar bltrag IIOUMB na to Ihe extent of that movement from tile beginning at lM to the end of last month The lowest I ntlrnnle of the market value of the ttocka and hands rtturnejl within Hut period lea 1 the amount exported latair 116000 nlI and the hlgntat IIM OOKKW not the average it illoo tall matea ahowlng n net reflux to the amount ot about petigal This movement I think will create sum Bun rltt by Ita extent an1 though i nly an eatlmate vet the ngurta com from hope who have dono nearly all the transactions an 1 They therefore ahoul I approach accuracy It la I certainly a factor of some real Inn rlante that aecurlllea valued al their market price ai Moooi > < XM have com un the market will in the last 1 > e nteen months and Hit Important if the feet lionornm l nil the greater when It 1 la ronaldered that the Solvents Mont hta within the nnm time plant inoowiwo or ITU IIONOH on the market making a total now aup lly of IMOgoOOWI Ifn ealeioMIn lleth ra of money In the lunka haa i failllliiled Hit carrying of Hint aacurl lie but II cannot bOo aaaumed that Ihy have r1 boon Ilinater An V loun1 a UII 11 facto of Irmnt invest metals Nor It I Ihla tile only ronal Itratlon The return ot Ihe to aerurltle from abroad has gone far toward llquldal Ing Ihe lor ire creditor balance that halt arisen from the great ancient of ex Irl l oier Import that occurrt1 il tile Ing the aamt Irlod That creditor our Iu has boon Irhol ho most Im I pertiont Imnt In tile rim of mcuri u Is that otcurrwl during the first quarter u f IMt and It bwomtt an Im iwrtant iiueatlon how far that rive In values 1 can be conl lerc1 1 aa loving been trutrallied ly the almost cm little 1 fIbJI the allmulua that Poor Itlrn J largely contributed to Hit advance Though I do not prIM to measure the exact value of Hilt 1 factor nmonK the many that are reshaping the four last 1 yet I cannot hut rigiird It aa POOl boning considerable irncllcal Impi rt normuch later indeed titan has hitherto born imrlbuleTla It II la worth conalderlng how far Thin foreign movement In KTurltlea has offset Ih crtxlllor fruit iMlanre The Vale of tile Importa unit 1 v 1portio In eluding opliew for the sevaintn months front January I 11M 10 Stay 31 I IIItJ was as folitswis IIXIOItTII Irohadl t no 140000 1011 511 WWW illllOt T 540010 11111110000 UUOIlTI Merchandise > MAU All > I loll 177H3UWM Hlhr 4IUtOOO HIM 917 000 bxcea of vxporta In the 17 month H70M3000 It thus atptare Unit file the un 17 months the XM > rta excited 1 th Imporla bytnomooo Itiwemaiol lot I generally concede 1 that After ulloning raw tome minor creditor lleina bUI I HO 000 000 net i > tr year la I rlOlul1 fur iwiymenta TO OTIinit COUNTIIII on account of Intereat xon freight trailing rnclll and other minor Itemn On theme iuu cojnjnaulal Itrnui u hat therefore hat la tut durlnir Ihe 17 month about 1111I rod 040 to uhl h Mont be added WOWouOf rlhilndrm nlty it > 8l paln making u tornblue4l debtor debt-or mum i t U7IOOOOOO If to this latter sum we ad I ill awl amount lacerating on the wourittem moveine11 namply 13110000000 wu have II 1011 of II3GOOIJ 100 01 dehr ilemom W rrt the 11701 103000 creditor IlOlane suLfulla on the purely OIImI1 awl apeclu mn mnl It voul thus a Pp0Ar I that th null n-ull I on creditor loadiLnee I 1 of about S15000 000 still ollll8ndlnirlo our Ior In Europe 1tloUly tills in hot n mpeIs 1 fly Important factor lIhr Ono way or another Anadvnra condition r the Huropmn raont markets or a steraeolty i mnurt gold for the Im landing loan to Huaalo Japan and MI XlfOMIdllT flr Iroluv returns of our P until t that would Well nigh UnCIh flux 10110 1anwhl lite exesso 01 Ib r rim or Imports In fifst IlImlhlhlnq The exports lit allfrrhandiv 01 vv + 1 for May amounted to mo It 01 Mia the Imports were I7otllouo allowing a hoW redltor balance of tilliiouo for Hit ffil 111 Piano anw1th tot9q I Ih baiw a our r or I II nI 1 nrtlA h tar I hot e have rose h0 o OUI I nr fereign elehanne Ila I is hkh the reollter boolanee on comoI nt toot little nor than ulneeB il n ffaei the olvorso balance on lm outside our trading nnl aprele exchanges The 011porloo however will aoon b awelled l rp produeu of Car nw otamfi which may null n atlbly bring gold I r IIII this WAY Sooner or later 1b almrt from th movements we are at hlnl ly on tile way towards an eotly ellrnln a Ion 1 ot the normal element vililch hav 1 controlled the eichanire In < ur v for nearly Iwo years WhO 1 C nlfleane this prospect Boo for the So rurlllea market It I a tuettlon width well dowries alltnllon IIRNItr CLEWS |
