The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1908-08-13
Prospects For Business
JAMES VAN CLEAVE, PRESIDENT OF MAN
UFACTUERS ASSOCIATION. SPEAKS
VERY ENCOURAOINGI-Y-

with 1907. are also advancing once
more This is a detail of large signif-
icance. The fact that we are again
beginning to buy in Europe in great
quantities is one of the signs that nor
mai conditions in business are close at
hand.
On all sides we see evidences that
the tide has turned. A steady improve
ment from this time onward may be
looked for with confidence In New
York, Chicago. Pittsburg. St Louis.
Boston and other industrial centers
mills are reopening their doors. The
stocks of goods in the hands of man.
ufacturers and wholesalers have been
reduced TO low figures. and the resump-
ton of purchases. which is under way
in all the great lines of trade. is be-
ginning to send in orders to the fac
tories with a little of their old-time
volume
Within the past three weeks the out
put of the mills of the United States
Steel corporation has been increased
ten per cent over the average OF re-
cent months. The promise is that by
the beginning of November that largest
of the worlds steel concerns will be
running it's work to nearly their full
capacity. The independent steel mills
which furnish almost half of the coun-
/ trys product, are also responding to
the upward turn in trade.
This Improvement is registering it.
self in the reduction of the number
of idle locomotives and cars. When
the number was at its highest, in the
closing days of April, $4,000 cars were
lsidetracked throughout the United
States for lack of work. In the clos
ing days of July the number had drop
ped below the 100000 line. The heavy
crops. which in a few weeks will begin
to move to the markets. are likely to
sent the number of idle cars down to
very small figures before November
If the election turns out to be what a
large majority of the business men of
the country want 1t TO be, and what
they expect it to be. every locomotive
and car in the United States will prob
ably be actively at work by January
; first
AS we all know, railroad earnings,
like bank clearings. are below the
highwater mark of a year ago The
gap is steadily narrowing, however,
and the favorable crops which are as
sured, and the favorable political sit
; uation, if should be favorable, will
, furnish an excellent chance to wipe out
the gap before many more months
pass. The increased freight and pas
J ser ger movement, as compared with a
/ few months ago, is encouraging the
: railroads to resume their purchase of
5 supplies. This means a further in
crease in orders to the mills and addi-
, tional work to do.
T 1t will be remembered that until last
, October the cars were not sufficient to
handle the traffic From present indi-
! cations that condition will soon be
! reached again. The railroad chiefs
J grumbled then because they could not
f borrow enough money at reasonably
low rates to allow them to keep up
! with the demand for new trackage and
= rolling stock. That complaint is no
4 longer available. For all business pur-
poses money is now abundant and
{ Icheap. As a stimulus to the revival in
, business confidence this is a fact OF
!, large consequence.
a AS the country had a right to ex-
e pect, the reversal by the United States
Circuit Court of Appeals of the deci
:, sion of the district court against the
: Standard Oil company which involved
: the $29, coo, 600 fine has had bracins
!, effect on general trade. The case goe,
[ odch 70 the lower court iOi q new Trial
. in which hysteria will probably have {
. smaller part than it had in the sui
which has just been set aside. TIL,
country wants to the laws en-
= forced against all sorts of offenders
- high and low, but we must protect TIL
~ courts from any appearance of a sur
:, render TO damage clamor. We mus
- prevent prosecution from degeneratint
: into anything which may look Xix
- persecution.