Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1906-12-03
Improved Conditions Noted By
Henry Clews For the Week
just Closed
SOME sTRlNGENcY REMAINS
High Price of Materials and Labor
Tend to Restrict the Launching of
New Industrial Enterprises-Impor-
tance of the Farmer as Shown by
Wilson's Report.

New York Dec. 3.-The weekly fin
ancial review of Henry Clews says:
Owing to Thanksgiving holidays and
the opening of congress. the stock
market has been more or less inactive
President Roosevelt's message will BE-
awaited with unusual interest in order
to see how far it supports some of the
so-called radical tendencies of the day;
and the disposition of congress als1
upon such issues will be important to
ascertain. Fortunately, the coming ses-
sion will be a short one. and probably
unproductive of important new legisla-
ton; but discussion may be active and
significant owing to developments in
public opinion shown in the recent
election.
Money market conditions improved
somewhat. Funds have been returning
more freely from the interior and bank
officials continue to follow a conserva-
tive policy in the making of loans. A
distinct improvement has also taken
place in the foreign money markets,
both the Bank of England and the
Bank Of Germany have been able to
strengthen their position and the sit
uation has been further relieved by the
willingness of the Bank of France to
release a portion of it's gold.
Concerning the future of the money
market, important demands are sure
to be made during the early part Of
1907 A number of our large corpor-
atoms have been knocking at their
bank doors for months 10 little purpose.
In some cases they have secured tenn
porary accommodation, but demands
for improvements and extensions on
both railroads and industrial plants
are urgent, and during the next fe"
months there will be new security is
sues easily amounting to several hum
dred millions This amount added to
the enormous new creations Of the past
two years is anything but bull argu-
ment. altho the interests committed .
such operations will be undoubtedly
obliged to givefthe market all the sup
port that they may be able. When the
April settlements come in 1907 string
ent money rates will be more in evil
dence than usual.
General outside conditions continue
sa satisfactory, and mo raactionary signs
of Importance are yet visible. Con-
fdence is generally strong, altho in
many respects conditions are so abb
normal as to induce a decided spirit
of caution. Advances in wages granted
by railroads and q number of large I'M
dustrial concerns are exceedingly graft
flying to employees. and perfectly salts
factory to employers as long as present
last; but the high cost of
labor and material of all kinds is ex-
ercising a growing restraint upon new
enterprise and more or less uneasiness
the future. The immediate
outlook however is for continued ac-
tivity, and should we be favored by
still another good harvest the year 1907
may prove as satisfactory a one as the
year about to expire. A poor harvest,
however. in 1907 would surely bring a
reaction. The annual report of Secfe-
tary Wilson of the department of agri-
culture shows how important an ele-
ment the farmer is. For the current
year he estimates the value of farm
products in the United States at &c.
1914, 900 900, which is $4S5,000,0 600 great
er than a year ago. This gain was
made in spite of a drop of $40,OO0,0OO
in cereal crops. AS the latter showed
a gain of 12O.O00,O00 bushels in guam
tity, the decline in value was of course
,.Ea nripaS
The increase in the total value of farm
products was more eiue to rise In
the value of meat products and ami
mails than the gain in quantity or num-
bers. The prosperity Of the farmer is
a well understood subject; and it is
worth keeping in mind that our manu-
features are now valued at more than
double the farmers product. Besides
we are making vastly more rapid pro-
gress in manufactures than In agrf-
culture. This year we are producing
pig iron at the rate of 26,O00,OO0 tons
a year, or more than England, Ger
many and France combined, and many
Of our steel mills are sold more than
twelve months ahead; the prospects
being that we may turn out 2S,000,000
tons of pig iron in 1907 Our textile in
lustries, which the census shows rank
third in importance in the country, are
also enjoying abnormal activity. Here,
too, many mills have sold their entire
product for 1907 and some have even
taken orders for 1908 Such conditions
are truly marvellous, and illustrate the
of making any reliable
regarding the future.
Miss McCord Goes, to Her Lover.
New Orleans, La, Dec. 3.-Miss
Grace McCord, of Bayard, Iowa, who
was arrested on a charge of forgery