The Owosso times. (Owosso, Mich.) 1897-1926, 1908-07-03

heiin' Guggenheim: 1--WE
scattered money too freely. A big con
Germ would hire $4,000 man and pay
him $4,000 or more just to keep a RI
val from getting him. 1t was the same
all the way down the line to the day
laborer. A man with a pick would
command $3.50 to So for an eight hour
day and do four hours work. Now the
men are earning what they are paid.
When business starts up again every
thing will be in trim for profitable
work."
Lackawanna Branches Out.
What business men regard as a sign
of better times ahead is the decision
of the directors Of the Lackawanna
railroad to spend $11.00OOOO in i'm.
provements. The assurance Of bumper
crops Is factor in this decision, and
changed conditions all along the line
favored 1t. Other railroads are prepar.
ing to take similar action.
An international Steel Trust.
Despite numerous and repeated de-
malls from parties interested, the re.
port from London that a great inter
national steel combination is in proc
ess Of formation gains credence. The
largest concerns of Europe and Amer
lea are said to be included.
Changes In Standard Oil.
II, NJ. Flagler has resigned as a vice
president Of the Standard Oil company,
and his place is taken by w. II. Til
ford, whose place as treasurer Is taken
by G. NJ. Pratt, formerly secretary.
Walter Jennings becomes the secre-
tary.
Tho Business Outlook.
The last weekly statement issued by
r. G. Dun & Co. says:
Midsummer quiet is augmented this
year by the general contraction that
has occurred in all departments Of
trade and industry, but splendid prog
ress of the crops strengthens conf
dence in the future. and preparation
for large volume of fall business is
gradually increasing the percentage OF
active machinery. Erratic fluctuations
in prices Of raw material retarded i'm
proyement in the cotton goods indus
try, but the recent sharp advance in
hides and leather on account of small
receipts of cattle failed to check prog
ress at shoe factories, and q fair ton
mage of new business Is received by
the steel mills. Semiannual clearance
sales of dry goods were well attended.
country merchants replenishing de-
pleted stocks at satisfactory prices, and
reports from all sections of the coun-
try testify to good distribution of
lightweight wearing apparel. Idle
freight cars have been reduced to less
than 100000, and many railroad shops
are resuming repair work, while earn
ings in June show a. loss of 20.1 per
cent as compared with the same month
last year. Preliminary statistics of
failures indicate that strictly CONNER
cial suspensions in June will compare
favorably with every month since the
collapse last October. Foreign COM
merce at this port alone for the last
week shows decreases of $459,347 in
exports and $3,630,375 in imports as
compared with the same week last
year Money rates remained easy, de-
spite preparations for semiannual set
Elements next week, and security prices
declined fractionally on small sales.
Bank exchanges at New York for the
week were lis per cent less than in
1907, and at other leading cities the de-
crease was 1872 per cent.
Commercial Failure.
Commercial failures this week in
the United States, as reported by r.
G. Dun & Co.. are 2S2 against 26O last
week, $50 the preceding week and 162
the corresponding week last year.
Failures in Canada number 26 against
26 last week. "a the preceding week
and % last year. OF failures this
week in the United States % were in
the east, 20 south. II west and 81 in
the Pacific states, and 101 report La
bilities of $4,000 or more against 90
last week. Liabilities of commercial
failures thus far reported for June are
SO, 565,904 against S13, 734.067 for the
same period the previous year.