, 1908-03-24
TAKES A TURN At
LABOR POSITION
HENRY CLEWS DOUBTS JUDO.
MENT OF THOSE WHO ARE
ATTACKING PRESIDENT.
Says Attempt to Secure Exemption.
From Operations of Sherman Act
~abIe-EarIy Spring Has Tendency
to Help Matters Generally.
Special to The Republican.

Special to The Republican.
New York, March 24.-Henry Clews
of this city, the eminent financier, in
his advance proof of the Weekly FL
nancial Review, takes a tilt at certain
elements of labor in their fight against
the present condition and presages de-
feat before the matter ends. Mr..
Clews says in part in the interesting
review.
Politics is Disturbing.
The most disturbing issue in the
stock market is the political outlook.
The presidential campaign is growing
in intensity and more or less uncer-
tainly is inevitable until the nomina-
lions can be ascertained. The attempt
Of labor to secure through the presi-
dent exemption from operation of the
Sherman act and to make itself a privi-
legged class is absurd II untenable.
Judgment at Fault.
Whoever are responsible for this
movement their judgment is at faul.
and their conduct unwise. Such class
Legislation will never be accepted in
the United States, and its advocacy
simply further diminishes the sympathy
and respect for the cause of labor.
Labor Should Be Satisfied.
Labor a already secured its full
share of the prosperity which culm:-
mated in 1907, and its refusal to take
its share of adversely, coupled with
its determination to make itself a
privileged class, is simply placing IL
self beyond the reach of reasonable
discussion.
Signs of Early Spring.
An early spring is promised, and this
will encourage the starting of con
.struction work. 1t will also permit
early planting and lessen the chances
of danger to the crops from frost in
the autumn. Last year, it will be re-
membered, the season Was from two %
three weeks late.
Better Demand for Steel
Among the signs of recovery are n
slightly better demand for some pro-
ducts of steel and iron. Increasing
orders have been received for both
railroad and building shapes, prices in
tanned. There has also been a larger
business in copper, American consum-
ers having, it is understood, made lib
eral purchases during the past week
at nearly 13 cents.
Dry Goods Improving.
In the 'extile trade, too, there has
been some improvement owing to the
fact that buyers realize that after Il
depreciation of 20 to 80 per cent in val,
e it is time to take hold, consider
shelves.
Some Wage Reductions.
The cotton goods situation has also
been somewhat helped by a reduction
of about 10 per cent in wages, which
was much better for the operatives
than a forced shutdown of the mills.
1t is worthy of note hat the process
of readjustment following the panic
has been more easily accomplished in
the cotton goods industry than in any
other.
This is partly due to the fact that
cotton manufacturers are not under
trust or monopoly influence; while the
unions are frequently led by men OF
intelligence and conservatism who are
able to recognize nj accept changes
in business conditions.
There is no question but that the COZ.
ton industry of the United States is
in a safer condition than any other
branch of manufacturing at this time.