The Evening statesman. [volume] (Walla Walla, Wash.) 1903-1910, 1909-04-07
is ROUSlNG ITSELF FROM ITS
DORMANT CONDITION INTO
ACTIVITY.
Trade Reports From All Parts of the
Country Are Encouraging, Says
- = Henry Clews.

NEW YORK, April 7.-(SpeciaD-
The stock market appears to be rous-
! ing itself from the dormant condition
| into which it had fallen for the past
month or two. The rest cure has been
beneficial, and the result is thai the
market finds Itself in a sounder and
stronger position than at any time dur
| ing the current year. Unfavorable con-
ditiOns have been amply discounted
and Wha ever changes have taker
place are generally for the bet er. Tha.
there has been turn in the tide .!
market sentiment there can be no
ques ton, and it is now expressing il
self in more vigorous action. Causes
for Improvement are visible and per-
fectly natural. A change of greatest
consequence is the reviving tendency
of trade. This is particularly noticeable
in the iron and steel industry, where
reductions in prices and a readjuS.-
ment of wages have laid the basis for
a fresh onward movement For some
time past railroads have been quietly
figuring in the steel market for the
placing of orders, while owners Of pro-
Ijected buildings have also been secur-
tracts. The result is that in March a
very encouraging amount of orders
were placed for structural material. Or
course, the approach Of spring. and the
consequent starting of outdoor opera
tions has had much to do with this
recovery, but as just said the most i'm
portant element has been the read
justment of values, and feeling that
in many cases prices of raw. materials
had temporarily at least reached the
lowest possible point.
Trade reports from various parts OF
The country are also more encouraging
and suggest a moderate revival In
trade. 1t must be remembered that in
many cases orders have been held back
owing to various uncertainties, and
that shelves in consequence have be-
cc1oe more or less bare of stock. The
result is an accumulation of orders,
which necessarily affords signs of i'm
proved activity. A glance at clearing
house returns in leading cities of the
United States last week shows that
tank clearings were more than IA per
cent in excess of a year ago, the gain
being we'll dis; ributed in all sections of
the country. In the previous week the
increase in clearings was II per cent.
every section of the country partici-
pating in the clearings in The third
week of March were considerably
larger than in any of the three preced-
ing years; even in 1906 when specu-
lation was so much more active than
now Railroad earnings are also max
ing more gratifying reports forty-five
roads in the second week Of March
showing gain of nearly eight per cent
over a year ago, while A roads in the
first week of March showed gain
of nearly 10 per cent over last year,
when the roads are beginning to re-
cover from the effects of the panic.
Tariff agitation is now losing it's eff
feet. It is already recognized that the
Payne bill is so full of Objectionable
features that it will have no chance
whatever in the senate. The sooner
he present useless and demoralizing
discussion in the house is ended the
better. In all probability the senate
amendments will be far less objection
able than the house bill. Mr.. Aldrich