The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1893-08-28
A LITTLE BRIGHTER.

hLhVi Sohle gratifying SlBus vi lu-
provement. Relaxation appears in
some Of the money markets. A little
more money is found available for
commercial loans. One of the largest
note brokers in the country remarked
one day this week that he had done
more business that day than in Cany
prevlOns day for wee ks. Some manu-
featuring establishments are resuming
operations, Others are starting ionce
more after failure, having made ar
rangements with creditors. Among
the banks and commercial firms which |
have been compelled to suspend a |
number have been able to settle with |
creditors, and thus to resume business. |
All these are gratifying indications,
and should be published as fully sand |
observed as attenlively as the records
of suspensions or failures. A correct
idea of the situation cannot be gained !
oy looking on the dark side only.
The fact that these favorable events, |
occur while other firms or companies |
or banks are closing or failing at the
same time appears to inattentive OBJ
servers most confusing. Yet there is
at the bottom nothing contradictory in
the phenomena. Part of the suspen'
sions of banks or firms, for instance
were said when they occurred to be
only temporary in character I'm
mediate money was lacking although
assests were ample and of undOubted
value, and only a little time was need
ed to realize on them. Many manu-
featuring establishments stopped
work, having necessary repairs to
make, and intending to resume within
a short time, and such cases of closing
were not always accurately reported
in dispatches, Many also stopped In
part because there were repairs to be
made, but also in part because they
were uncertain regarding the imme-
diate future, and wished to see what
or ders they were likely to obtain be-
fore starting again, and some of these
have found business enough to justify
resumption of work, 4 while others
have not.
After every great financial and in
dustrial disturbance such movements
both ways are seen. Part of the stop
ages are found to be not really wrecks
and part of the suspensions. or failures
prove to be not of serious or per
manent character. Every recovery i
encouraging, although it may not SHOW
anv change in the general situation
but only change in the immediat
ability or plans of particular firm o
company. Even while other firms il
much greater number are discontinu
ing business or production, some ar
resuming because they have been abl
to overcome their own special dificu
ties.
The only fact of the general situa
tion, it is obvious, must be sought in
careful comparison Of events of bot
kinds. If concerns employing 500
hands have closed their works, Swhii
others employing 1000 have resume
work after some weeks, the net d
crease in number of hands at work
what counts. If ten banks fail wit
aggregate liabilities of $2,000,0O0, it
easy to see that there is a net additic
to available credits, ralthough in IL
greater number of localities the chanl
may be the other way
When industries and credits a
disorganized, the seemingly confictir
items Of news attract attention, a
though in healthy condition of bui
ness no one would be surprised tohe
ofsome business failures. The8mil
is prone, in bad times, to giveslitt
attention to the resumption of2indu
tries or firms, and sthus it sometim
comes to pass that a gradual but &c
eral recovery from extreme depressi'
has really set in before men.are ava
oft.