Daily capital journal. (Salem, Oregon) 1903-1919, 1910-04-09


lacking in spirit and hopefulness.
The ordinary daily wants are large
and are attended to perfunctorily in
a hand to mouth manner. Manufac-
turers are making up as much as is
needed and no more. All this is
more essentially true of the East
than of the West. In fact, business
West of Chicago on to the Pacific
Coast is in a state of great activity
and larger than it has been for the
last two years. The soil in the
Northwestern portion of the conti-
nent is loaded with moisture, due to
neavy SHOWS during the winter, and
the crop planting is beginning three
weeks earlier than usual, the acre
age planted being much larger than
ever before. Modern methods are
being used in Western farming. In
one valley in Montana last week l.,
70 steam plows we're at work turn
ing up the land for planting
The business of the transconti-
mental lines, Great Northern, North
ern Pacific, and st. Paul, promise
great congestion in the fall months
This is true also of the Southern Pa
cific and Atchison. The western
people are not borrowing any money
to speak of, except in the lumber
business, where large modern con-
crete and iron mills are being
erected, the plants costing $1,000
600 each. The farmers are almost
universally rich. The citizens of the
little town of Aberdeen, Wash.
four weeks ago, had bought up TO
that time $214,000 worth of auto.
mobiles.
The banks in the West are full of
money, many of them carrying 40 70
SO per cent reserve. Much of this
reserve is being carried in cash.
There is only one thing stopping
enormous prosperity, and that Is,
the attitude of the government.
The Investment and SpecuIati7e
Markets.
A market overhung with the sha-
dow of the decisions, and without
from the real large inter-
ests except on marked declines TO
take in good stocks, would act as
this one acts. A great amount Of
commercial business is being done
throughout the United State, but it |
is the business that has to be done, |
and lacks the momentum of enter |
prise. 1t is, nevertheless, a sustain |
ing force, and with the impetus of a |
new crop If it is a good one, will !
swell to great proportions, congest |
ing railroads and increasing earn
ngs everywhere. This will be the |
case in spite of everything, and good .
stocks are cheap. Atchison, South
ern Pacific, St. Paul, Union Pacif,
md Pennsylvania should be bought
md locked up. The outlook abroad
S for a very much larger use of cop
)er, and in the next three months
he exports from this country should
Increase greatly, as the surplus
took held speculatively abroad is
Deing steadily reduced by Legitimate
Copper stocks should
improve, money is easy, and the
april settlements are passing
which is unusuaD, without per-
eptible effect. The English situa-
ion is still somewhat adverse, al.
hough the banks rate remains un-
hanged. The money, however,
lsed in moving the Argentine crop
viii soon begin to return to London.
n June the Alaskan gold will flow
nto the United States, and the sum-
ner money market should be an
asy one.
In the speculative market traders !
ontrol. The swings, and possibly
lso the sharp reactions, of the past
wo months will probably continue
or while, meantime the bearish !
tmosphere is developing a large {
hort interest which some day will {
e heard from. ]