The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1909-11-21
The Financial World.

Henry Clews in his weekly review OF
ket has long had high reputation in
the matter of his forecasts. But his phil
osophical observations and his moral
izing have as rule the true ring and
are eagerly read by many. Mr.. Clews
says in part:
Financial problems are working their
way out through a series of conflicting
influences. The general undertone in
trade. industry and finance is one of con-
fidence. Business continues large in
volume and the belief in continued activ-
ity is universal. Labor is we'll employed,
and there would be little reason for hes
itancy were 1t not for the phenomenally
high level of prices whether of merchan-
disc or securities. Complaints of thu
high cost of living are universal There
is good reason for many of these COM
plants, but the fact is they are frequent
ly being made the most of as an excuse
for advances in wages. A far more potent
element in the increased cost of living
than is readily admitted is the extrav-
agance which has become a national
characteristic and weakness. This ten
dency toward extravaganza is more evil
dent even in the home than in business
or in public affairs. and its effects In
tho long run cannot but be Injurious.
Many totally unnecessary amusements
and luxuries are now INDUCED in which
were never thought of ten years ago.
and the result must be a greatly dimin-
ished national saving power. out of which
should come our new supplies Of capital.
AS to what will check this upward trend
in values nobody can forecast. Produc
ton has not yet outrun consumption.
Combinations of all kinds are restricting
competition and putting up prices. Infls-
ton and speculation are adding fuel to
the fire. and at present there is nothing
in sight to check the advance except ex-
haustion of the purchasing power of the
consumer. That, too. Is not In the i'm
mediate future.
Coming down to the stock market it
appears to be dividing itself into two SEQ
tions-the railroad and the industrial Sec
lions. Railroad shares, though having I'M
dergone moderate recessions, are still
upon very high level. In the industrial
! section of the market the outlook is
somewhat brighter for the better class OF
securities. All our leading establishments,
especially those in any way connected
with the steel trade, are wonderfully ac-
! tive. Orders are on hand which will keep
them busy for months. and profits are
| generally satisfactory. The tariff agi-
| tation is over for the time being and IL
| speculation is to succeed in any direction
| It IL likely to find the industrials the most
| profitable field"
Efficiency Of Burglar Alarm.
1.-The efficiency Of the American DIS
trict Telegraph company's burglar alarm
system, resulting in the capture Of tlls
negro, David Bass, who broke into the
store Of the Colorado Loan company Just
before daylight on Friday morning." said
e. e. Williams, manager of the Western
Union, has. 1t is thought put stop to
systematic store burglaries that have
been going on during tho past year or
moro.
BASS has confessed that he has been
burglarizing the stores of the Birmingham
Arms company and Warren Bros. sys-
tematically for several months. and each
raid would get number Of very nne pis-
| tolls This capture has also unearthed
what seems a conspiracy. ~ the negro
| claims he has had . regular arrangemen
with Greek in the city, whose name he
has disclosed to the officers. whereby all
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