The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1910-03-14
Business Review of The
Past Week BY Henry Clews

The stock market continues to show
healthy undertOne. Prices have
undergone a further hardening tend
ency and the upward movement has
received no serious check beyond that
imposed by occasional profit taking.
Conditions affecting values are still
of a generally favorable nature. The
great railroad and industrial corpora
lions of the country are all actively
employed and enjoying reasonably
good profits. Railroad earnings are
increasing, both net and gross, and the
advance in New York Centrals divi-
dend had a decidedly strengthening
influence upon other leading railroad
shares. Some of our principal indus
trial corporations are also reporting
very flattering results, emphasizing the
fact of general trade activity. AS the
spring approaches this fact will be-
come still more evident. Construction
work deferred by Indictment weather
will be resumed, and agricultural oper-
ations will begin throughout the coun-
try, all of which means a better de-
mand for labor and greater business &C
IltUy. AlTcduy Tic lIOll u duC 10 lCCl-
ing the effects of recent stimulants,
and large orders have been placed for
cars and other railroad material. The
recent successful placing of railroad
bonds will, of course. enable the rail-
roads to push long-contemplated i'm
provements rendered imperative to
meet requirements of rapidly growing
traffic. These OUTLAWS will give en-
ployment to many thousands of arti-
sans and mechanics.
Among the factors which have tend
ed to improvement is the steady abate-
ment of disturbing political agitation
at Washington. AS to the expected
supreme court decisions, nothing is
known as to the date of their issue. but
opinion is already inclined to discount
their effect and to go on with business
with as little regard to their outcome
as seems prudent. The monetary sit
uation remains satisfactory; loanable
funds being plentiful at moderate rates
however, is for somewhat higher rates
Of interest as We approach the list of
April settlements. Western banks
have an unusual amount of loans out
standing, and the loan account of the
New York banks is steadily increaS-
ing: while local reserves are now down
to below $1O,OOO.OOO. 1t would cause
no surprise therefore. If lenders should
show more conservatism in making
loans, and bankers are already discrim-
mating in their purchases of CONNER
cial paper anly the highest grades find
ing good demand. OF course, higher
interest rates would tend to check the
anticipated exports of gold; so. too,
will the larger foreign purchases of
American securities which have recent
ly been made.
There has recently been much bet
ter demand for bonds. Europe having
| taken a very considerable portion OF
the latest issues. This movement has
been an important element in strength
ening the stock market, and is one OF
the best symptoms current in the finan.
cial situation. The speculative tenn
| permanent on the stock exchange is GER
tainly showing more activity, as well
as healthy division of opinion. Al
times there has been considerable
outstanding short interest, which prov
| ed the basis of sharp rise in certain
| stocks. Foreign exchange is weaker
| but so much under speculative influ-
ences that the real situation is diff.
chandise are still unduly small. owing