Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1904-09-21
CHANGE WANTED?
30 FEELING OF APPREHENSION
AMONG BUSINESS MEN.
Assertion of Candidate Davis Refrted
by Reports from Democratic Sources
and by Figures from Trade and Conn
mercia1 Reports.

Henry G.. Davis said in his speech ac
oepting the Democratic nomination for
Vice President:
THE APPREHENSION WHICH
NOW PREVAILS IN BUSINESS CIR
Giles AND THE PRESENT UNSAT-
ASFACTORY INDUSTRIAL CONDI-
TIONS OF THE COUNTRY, SEEM
no DEMAND A POLITICAL
CHANGE"
When Mr.. Davis said this, his acute
wish to be the Vice President Of the
United States, through the success il
November of the great party of calanl-
Ry. must have been the glad father to
ssais thought about Apprehension in bust
NESS circles" and unsatisfactory indus
Arial conditions"
The accumulation by Mr.. Davis of an
enormous fortune, so that he is now con-
sidered the richest man in West Vir-
sginia, would naturally lead to the sup
position that he must be in touch with
'eoaaditions in all branches of trade and
m the great markets of the country, and
sherefore ought not to show gross ignor-
anee of developments in the business
world, such as his speech of acceptance
showed.
More prosperity Tor Davis.
Take the coal industry, for instance,
cut of which Mr.. Davis has secured the
saaost of his vast riches, and on which
tAe ought to be specially we'll posted.
What is the present status of this in
sustry? Does it reflect apprehension in
business circles? Does it show forth I'M
satisfactory industrial conditions? The
Black Diamond, leading organ of the
IL 0f
viewing market conditions, says:
General trade conditions pertaining
20 ceal are more encouraging this week
than they have been at any time within
ahe past six months. Coal companies
which have been keeping their expenses
down to as low limits as possible during
ahe summer are beginning to expand.
They are taking on new travelling men,
preparing to increase their advertising
and are making preparatio which in
dictate that they expect a large volume
Of business from this time forward. This
eonfidence in itself is an indication of bet
ter things in the coal trade. 1t shows
swfaen it becomes general in the way it
aas during the past fortnight that all the
principal factors in the situation are
gauging the outlook from about the same
basis and that this is a conservative one.
ssIn the bituminous list the greatest
Improvement has occurred in domestic
Goals. Early orders are coming il quite
areeIy and mark a difference as compared
9itt the conditions which existed Il
month ago at this time"
Mr. Ecke1s Secures Testimony.
Tie Commercial National Bank Of
Chicago, whose president, James II.
EckeIs, is on the finance committee of
che national Democratic party and is
chairman of the Democratic State finance
committee of Illinois, every year complies
= comprehensive report as to business
conditions in the United States The
bank this year addressed inquiries to
every bank and banker in forty-two of
4iae leading cities and towns of the Unit
ed States. Replies were received from
1912 interior and city banks.
These reports, published Aug. 13, al
most without exception indicated that
ahe banks are well prepared to finance
slle maturing crops. The banks sum
mary of the reports says: I'm MANY
SECTIONS FARM LANDS ARE IN
GEtEASING IN VALUE. AND AL
MOST WITHOUT EXCEPTION
FARMERS ARE SAID TO BE PROS
Porous.
The prevailing condition Of trade at in
terror points is satisfactory, and collec-
lions are reported as good as last year.
Bankers report generally fair demand
for money, but none reported an exces-
give demand. Deposits now are station
ary, but THE AGGREGATE
AMOUNT OF DEPOSITS HELD BY
COUNTRY BANKS AT PRESENT
Us GREATLY IN EXCESS OF THE
AMOUNT HELD ONE YEAR AGO.
AND ESPECIALLY so IN THE
SOUTH"
Rise In the Stock Market.
When there is apprehension in bust
NESS" the stock market is always quick
IL Feel it, and to discount trouble The
following review Of the recent course Of
ahe stock market is taken from leading
financial paper:
A4There has seldom been a period in
stock market history when such impor-
tant net results have oeen accomplished
as during the month of August. Aver
age advances in August of about nine
points have been added to average adj
vances in July of about three points.
There has been altogether 12-point
Rft in the market since July /, and yet
'altis very important appreciation has been
Aave aroused much public interest.
Nearly every day during the last few
weeks the stock market has made new
Nigh records for the year. But the adj
tances have been non-sensational. There
has been nothing at all pyrotechnic about
s.sem-nothing to suggest that as the
recket shoots upward so will the stick
strike mother earth with a thud
1T is the aggregate Of small investors
who have lately been keeping quiet, but
saving wood, that has given the market
is higher impulses. The big upward
movement in stocks that was predicted
for after the elections has consequently
heen rather prematurely forced. 1t has
come too quickly and quietly for either
she public or professionals to get in at
She start and ON as important scale as
would have caused an early large accu-
mutation of profits. The market has
steadily gone up, because quite large
auntber of investors with only their