The Washington times., 1910-03-20
General Business Reported
as Satisfactory Along
All Lines.
ACTIVITY IS NOT
DISTRIBUTED EVEN
Firmer Money, Labor Troubles, and
Proft-Taking Bring About
Reaction.
NEW YORK. March 2o-Fouowins is

NEW YORK. March 29.-FonowiuS is
Henry Claw's weekly letter.
Firmer money. labor troubles. profit
taking and abseuteciSm all combined TO
induce a moderate raCtlon I'm stock mar
ket values. Several influences also con-
tribUted 10 higher rates FOR money Dis
bursefnents around the lst OF April are
always exceptionally heavy, and prep
arations for that contingency had
much TO do with the recent advance
in interest rates. Bank reserves have
been declining, and the demands upon
the money market 90 finance new Sc
cUTity issues were also an important
element in The situation. The advance
Of l per cent in the Bank Of England
rate showing an unusual situation
abroad. also eXeTlcd a UerCeptibIe Iu-
huenca-
Added to this is the general activity
in business on high price level. which
absorbs loanable funds much more
rapidly than when prices were upon
lover scale. As for labor troubles. these
have had decidedly deterrent effect.
especially where demands nave been
radical and unreasonable. Demands for
higher wages have frequently caused
some OF the unions sought 10 enforce
upon their employers SO Ions as pres
ent prosperity continues there is a dis
position among corporation managers to
deal literally with labor which ma
teriauy softcns the anta2ouism between
capital and labor. and lessons the prob
abilities Of any serious disturbances.
Whuc general business ls iaIly active,
ana has q promising outlook still aC-
tNILy is not evenly distributed. The
farming classes probably lead iu point
ot genuine prosperity. owing TO the
@pnoInldlN nigh prices OF all aGrlcuI-
tgral products. The iron trade. TOO. in
ltF leading branches. appears 90 be en-
Joylng full share OF activity, though
on basis Of lower prices. There Is also
great activity IN the real estate field.
especially in the West, where sUcclIa-
tive operations are being conducted upon
IN unprecedented scale In other di-
recuons. however. the outlook is not SO
roSeat The cotton goods industry is i'm
very unsatisfactory condition Many
cotton mills are idle
Perhaps the most unsatisfactory fea-
tQre OF all IS tho popular discomfort aris-
ing from present high cost OF living
For this eCOuOmE B. the only true cure.
Already the crisis is beginning TO work
Out IFS own solution by checking con-
SUMPTION The prospects are that a
very large acreage will this wear be de-
vtted TO the raising Of food and other
agricultural products. and every farmer
vlll increase his output 10 The fullest
capacity Ia order TO get advantage Of
present unusual profits. This means a
Fcod demand Tor agricultural machin-
erv. fertilizers. etc What with the
chance of increased supplies Of food
stuns before many months. and the
economies which In NAV cases necessity
VIII enforce, It would seem as n the
present economical crisis was al or near
It's apex, and that before Ions we shall
see better relation between supply and
demand that viii al least afford some
relief from present circumstances.
Our foreign trade situation continues
very unsatisfact0ry. In February the
exports amounted 90 Si25,uYau1U. the
sElalest in that month since 1916 Dur
iplpOTts IN tho same month were go
C5"nyH the largest February ON record
The net result was au excess of imports
o. over SiVhoN compared with an cx-
cfss Of exports last year of S-p}1010
and an excess of Ss5.G 0op IN 1905
stock exchange values are likely 10 be
Unsettled until preparations for April
settlements are completed and money
begins to rgT0E- easier.