RANGE OF PRICES OF GOVERNMENT SECURITIES AT NEW YORK.

DURING THE YEAR 1912.

CALENDAR YEAR.

THE following statement exhibits the monthly range of prices of Government Securities at New York during the year 1912. Complied by the Commercial and Financial Chronicle from sales made at the Stock Exchange:

NEW YORK AS AN INDUSTRIAL CENTER.

CENSUS OF 1910.

Most persons-even those living in New York-think of that city as the leading financial and commercial metropolis of the country. Comparatively few know that it is also the most important manufacturing center of the United States.

It has held this industrial supremacy during the past ten years in spite of the aggressive competition of its rivals East and West, their competition being sometimes aided by railroad tariffs. It has held it, moreover, in spite of those natural economic changes which inevitably result from the rapid development of the West and the South, and their transition from purely agricultural sections into territories both agricultural and industrial. These changes have made possible an increase in value of products in the five years from 1904 to 1909, in East North Central States of 44.6 against 26.4 in the preceding five years, of 40.4 per cent. in the West North Central against 32 per cent., and of 44.8 per cent. in the South Atlantic against 36.8; while in the Middle Atlantic States the increase has been 36.9 against 28.1; the increase of the entire United States in the same time being 39.7 against 29.7.

Yet the latest census figures demonstrate how well New York is maintaining her great industrial supremacy, in spite of all adverse forces both natural and artifical; and with the opening of the new barge canal, and the improvement of port facilities, both tending to reduce costs and expand transportation, the city may be able to make even a better showing in the next five to ten years.

As it is, with 5 per cent. of the population of the country, the City of New York has nearly 10 per cent. of the industrial establishments of the country, while the value of its products is almost 10 per cent. of the nation's. The added value in New York is nearly 11 per cent. of the country's.

The four largest manufacturing cities in the United States, next to New York, are Chicago, Philadelphia, St. Louis and Cleveland and they are making gratifying gains; and yet the following table shows that in number of industrial establishments New York is bigger than all four put together, while in number of wage earners and in value of products this city stands not far from the other four cities combined:

The following table is a comparison of the City and the State of

New York with the United States:

NEW YORK'S LARGEST INDUSTRIES.

There are eighteen manufacturing industries in the City of New York, having a total capital, engaged in business, of $11,000,000 and upward. Men's and women's clothing are separated into two trades in the census statistics, but if they are combined, they take rank as the largest industry in this city, alike in number of establishments, number of persons engaged, capital invested and value of products. Next in order in capital invested is the gas industry while printing and publishing come closely after.

The following is the record of the eighteen biggest industries in New York City in 1909:

Bakery products, clothing, (both men's and women's,) copper and tin, foundry machine shops, fur goods, furniture, gas, jewelry, malt liquors, lumber, musical instruments, printing and publishing, silk goods, millinery and slaughtering made gains over 1904. Tobacco manufacturers fell off in capital but gained in value of products.

NEW YORK AS AN AGRICULTURAL STATE.

[Compiled from Bulletin of the 1910 Census.]

New York ranks first in population and twenty-ninth in land area among the states and territories of continental United States. Notwithstanding its great commercial and industrial development, the state is also important agriculturally as the following table shows:

The leading crops of the state in the order of their importance, as judged by value, are hay and forage, $77,361,000; potatoes, $20,339,000; oats, $17,977,000; corn, $11,439,000; wheat $7,176,000; dry edible beans, $3,689,000; buckwheat, $3,588,000; hops, $2,598,000; rye, $1,578,000; and barley, $1,316,000.

* A minus sign (—) denotes decrease.