The Cairo bulletin., 1908-10-12

, not only true of the west, where col
\ ditions aer sound and promising, bu
B also In the east where the depressio
has been most severe, Railroad ira
, fic is recovering and the number G
idle cars is steadily diminishing
Earnings of 81 roads reporting til
third week of September showed de
creases of less than 4 per cent
whereas in uJly and August the SAM
roads were showing loses Of II to /
per cent. Septembers bank clearingl
showed an increase of per cen
over the same month last year, fac
, which is surprising in view of the
prevailing quetness Of business; anC
while Stock Exchange activity prob
Iably accounted for much of the in
crease in clearings at New York. the
gains reported from many cities in
various parts of the country prove
beyond question that business is sure
lily though slowly reViying in spite of
a political campaign If other evi,
licences of recovery are desired they
can be easily found Improved CON
ditiOns in the money market have
carried natural and much needed re-
| iCf in various directions. Bankers.
| although in a discriminating mood,
will now lend with greater freedom
on all sound and legitimate enter
prises. Real estate is feeling the adj
vantage of this relief, property is
changing hands more freely, and bet
ter class developments which were
blocked by the panic are being car
ried out with more promise. Now
that mortgages can be more readily
placed, building operations are being
resumed under more favorable aus
pices, encouraged by the lower prices
for building materials and more set
tied labor conditions In conse-
quence there has been better de-
maud for constructive shapes in steel
and iron; lumber is more active, and
the various meals are stronger Ac-
coIlng % the best statistical authorI- !
ties tho new construction work con
tl&c;pd ior n September in the lead
ing cities was per cent greater than
2 year ago and in the city of New
York alone the increase was If per
cent; a much more gratifying exhibit
than expected. Mills in different
parts of the country, which have been
shut down either owing to dun bust
ness or the drouth. are starting up
md many that have been running on
'hcu time are preparing to run full
time. In many instances moderate
concessions have been made in
wages; and there is not doubt that
t the elections prove satisfactory
here will follow a widespread i'm
'roNement in the volume of business.
The first question to be asked is
low long will this improvement last
n view of the fact that the country
vii. shortly be precipitated into
harp tariff agitation, both parties
elng pledged to revision. Tariff
Eanges are always unsettling: the
Eoortainty as TO what will be done
sually being more serious matter ,,
ban the actual changes. Fortunate.
" the country is in some respects
cttcr able 10 stand tariff discussion I
har. ever before The tariff in !
many instances is SO high that a {
Moderate reduction would do little
= no harm to home interests. and
'oud increase the national revenue.
other cases orr manufacturers
'culd be positively benefited by a ,
Of the tariff in their rawl 8
Materials. The most likely point of /
tack is the stell tariff: hut there {
. ample hargin here. and our steel Z
loUstry is so well fortified by su.
efior methods and low costs of J
reduction that its future will not ,
p seriously endangered by any ,
re-" considered reduction. whether !
le campaign against corporations
il De- conducted as aggressiveIy As ?
rrCtuforc. or not. Is an open qucs. 4
on. Already there has been de- {
dci reaction in public opinion in J
BIS respect and the feeling that the
1untry needs a rest from this sort
agitation IS steadily gaining n
round As soon a. the presidential Il
lection is over. the antiincorpora p
o. policy VIII not De so much in s.
-1anI as a political issue.
This week the market reflected z
.e rH,asine-s felt in LcnIon and %
ler European oertars over the disc =
-rrauses i1 the Talkan Peninsula.
.rre s. little prospect of war 1t
7e-'nt because Turkey is in uo' u
'-ition to carry ON ho-uHties. and 10
rgr- European pressure would bel
ea f0 prevent. Besiies several OF H
e=a state have enioreI practical =
.olour ever since the Berlin r
eatJ- control bv Turkey having Is
'ea ueerly formal Perhaps the Z
a. significant feature IS the ne Z