The news-democrat. (Providence, R.I.) 1906-1909, 1907-06-04
CONDITION OF BUSINESS.


| AS expected there has been much grumbling
| by the business men in many sections OF the coun-
try because of the effect of the weather on trade.
A backward season is no thing and it is some
thing that business man must expect to contend
| against but seldom have conditions been less in
viting for trade than they have been recently.
However while some reports tell Of big stocks Of
goods for summer still in hand in retail stores,
there have been important failures, and in many
places there hints that really as many goods, if
not, more have been sold.
That trade is as good it is is due to the fact
that the people being employed and knowing there
will be need for summer goods, have bought accord
ing to their requirements In New England, though
the weather has not been such as to arouse enthu-
siasm, trade in all staple lines appears good. but
some merchants add their voices to those OF the
grumbers of other sections. The increase in
wages of so many employees in this section has had
most benehcient effect trade generally.
In connection with western and southern crop
reports, which are at present hardly satisfactory,
attention is drawn to the fact that while in 1882 the
season was about as backward as this one, never
the less in that year the wheat, corn and cotton
crops the largest up to that time. OF course,
things may be different this year and the exchange
operations in the west to be based on the ex-
pectation of short wheat and corn crops. AS to
the general tone of business there is no doubt it has
improved and will continue to SO do as result OF
the presidents speech on Memorial Day. Not all
will agree that the address was fawless as an argu-
ment dealing with state and national rights, but
there can be denial that the general idea OF COM
peling the railroads to be honest and respect the
law is thoroughly satisfactory.
The president at times makes statements that
have but slight bearing the main point he is con-
siderng, and this gives his critics opportunity to
attack him.
The majority Of the people however view his
addresses broadly, and knowing he is not finished
orator reach Just conclusion as to his real mean
ing.
II was not unnatural that the boom in stocks
noted when the tone of his address by accident be-
came known in Wall Street, Wednesday, should
somewhat slacken on Saturday. Many operators
look only for some excuse to things lin the
street." and they had their chance; but those who
deem it good policy to attempt to discredit the
president, also got their schemes in operation.
Shrewd mem in Wall street of the opinion that
the presidents speech at Indianapolis will inspire
confidence in existing corporations that are con-
servatvely managed and that investors will realize
that If the laws governing railroads are made more
strict there will be less fear of competition for
enterprises that are without strong financial sup
port Indeed it may be said the effect OF the pres-
dents latest pronouncement is to increase the feel
ing of security, not alone among investors in rail-
way stocks but among that larger part Of the peo-
pie, whose capital is employed in corporate enter
prises.