The Detroit times., 1910-12-31

chocolatcd tablets called Saraatubs
portions OF a landslide, and OF changes
In long established channels OF domes.
tic and foreign trade.
In assigning causes for the dis.
turbed conditions which pervaded the
body polite and economic throughout
the year. first place aill probably have
to be accorded TO prevailing nigh lev.
els Of all prices. whclher o, securities
or OF commodities.
There will probably be little dis
sent from the statement thai an in.-
mensc business was done at small,
I'm some instances disappearing, mar
gin. or this the generally conceded
small net results reported obtained
, by business men and by manufactur.
ers and the lessoned nee earnings an
nounced by the railways are striking
present examples
Continued governmental activity
against certain corporations and
threats of injunction suits against the
railways. which We're seeking to re-
coup themselves Tor increased costs or
operation, due TO granting OF higher
wages, by increasing rates, found the
stock market vulnerable, while low
crop conditions at the turn OF the year
favored bearish movements and IN
duced liquidation. With larger agri-
cultural yields more certain OF attain
ment in the late summer and early
autumn, a more cheerful outlook pre-
vailed. but the political ovcrturn III
the fall, with the prospects oil re-
opening OF the tariff question, maze
for slightly less optimistic views.
Contraction and disappointment
characterized the stock market OF
1910. In this respect affairs present
ed strong contrast TO the perhaps
100 1apid advancement Witnessed IN
1909. In word, lowered prices sig
nalized the operations or 1917.
throughout most of the year the mar
ket so far as volume goes. was inahe'
rublic interest was very light, and MS
a whole. the professional element
found il difficult to procure funds IL
ON gineer prolonged bullish operations
ne tho hanks saw fit to husband their
resources or to lend for short periods
only
industry was irregularly active
neriods OF record production after
waiting with curtailment and snort
time. such as have not been witness
ed since 10000.
FINANCIAL measures OF the year )
turnover showed only slight shrink
Ar. Thus. clearings fell only Id
per cent. below the record OF l'os.
Tlis loss was, however, mainly al
New York, where the decrease was
G per cent, while the rest or the
country showed gain OF per cent,
High prices Of most products anu
especially foods and raw materisis
have been a sort OF endless'chaii,
burden TO labor, to manufacture ana
IN trade generally. Perhaps the bes'
evidence that American markets were
ont of line with the rest or the worlo
vas the reduction OF our export 'raoe
in food products, which one time con
stltuted our strength In foreign traue
Co;ncidently, imports broke all rec
ords.
The situation OF affairs would
seem. indeed, to point to llquioa,ioh
being necessary in costs or proouc-
ton. and past liquidation In 'he
stock market may perhaps flnd
counterpart in natural products
which seem to have advanced more
largely than manufactured goods
having possibly been affected by the
speculative spirit so much in evil
dence in securities markets in 1909,
and which, perhaps. found its main
spring in the excessive supply vi
cheap money in that year. IL any
such movement toward cheaper costs
continues it is hard to see how LABOR
can avoid contributing thereto
Pending an approximately maj
settlement OF the tariff question, tor
which one offered solution is the per-
manent commission plan, something
like repression of the cOuntrys OBJ
yiously large productive capacities
TO fit the comparatively narrow chan
nels of small and frequent buying for
actual needs. rather than large ana
confident anticipation OF future wants
would seem in keeping with the con
seryatism manifest in so many lines,
"A period of peaceful progress. anu
of genuine cooperation in the restor-
alton of normal conditions OF expan-
sion in the country's activities, would
seem necessary If the general com
munity is to reap the benefits OF the
prosperity always present in coun-
try possessing the magnificent adj
yantages of this one, but which. like
all comparatively new countries, eX'
periences growing pains that TO some
unsettled minds pass for serious ills
of the body itself. Quiet conserva-
tism and level-headed treatment Of
the problems apparently pressing for
solution are to be enjoined II the
country is TO reap the fun benefits
OF the rcadjustments already in eyi
dence and those to he met with, and,
il is to be hoped. satisfactorily made
in 1911"
WINDSOR LAWYER DEAD