The Evening statesman. [volume] (Walla Walla, Wash.) 1903-1910, 1910-04-06
LAST OF APRIL SAW
DEPRESSED MARKET

lift. 1t is being more ana more TeCoS-
nized that the latter question VIII not
down and must again become the sub
ject of political controversy; the high
cost OF food making the issue all the
more inevitable.
Such are the unsatisfactory features
of the present situation. They have,
however been pretty thoroughly dis
counted and the general outlook is
not unfavorable. On the contrary, there
is every prospect for another season of
good business, provided we have good
crops. If there is one thing more than
another which the country requires, it
is a much larger product ofsall agricui-
tural necessities. This would insure
continued prosperity to the farmer, and
afford a much needed relief to the
masses by lowering the cost of living
which prevails abroad. 1t is, of course,
yet too early to form any opinions re-
gardine the crops, most of the reports
!
of damage to early wheat and cotton
having proved to be exaggerated. 1t Is
quite certain. however, that there will
be a larger acreage of cotton, wheat
and corn. The outlook for meats, how
ever. is not so favorable, since 1t takes
more than a single year to raise larg-
prices for meats may be expected for
some time to come, unless some relief
could be obtained by abolishing the du-
ties on cattle and satisfying a portion
of our needs through importations
The iron trade, which is still our chl',f
industry, is in good condition. There
activity prevails and prices are not I'M
reasonably high. Moreover, many or
ders are held back. partly because OF
the difficulty which the railroads are
having in adequately financing their
requirements. and partly because some
buyers are holding off in the hope OF
obtaining concessions. SO far as this
branch of industry is concerned, there
is every prospect of continued activity
for months to come, especially as soon
as easier money enables railroads to
buy more freely The textile trades are
suffering somewhat from high prices.
which has checked consumption and
made buyers timld. causing more or
less difficulty in the reimbursement be-
ween high prices for raw material and
selling prices for the finished product.
There has been considerable curtaii-
ment amongst both cotton and wooden
mills, the effects of which will eventu-
ally serve to steady these markets. The
dry goods trade, moreover, anticipates
some improvement resulting from the
advance in wages which have occurred
in many industries, and which will in
crease the purchasing power of labor.
of depression cannot last. Prices re-
ceded owing to the temporary condition
of the money market, the congestion in
bonds and the disturbed political situa-
ton, but these conditions have been
amply discounted, underlying condi-
tions continues sound and when it is
shown that the earning powers of our
great railroad systems and industries
are not impaired confidence will return,
and the securities of well established
properties will be once more in demand
and must recover from the present re-
action Such a recovery cannot be
very far distant. and should come as
soon as easier money is in prospect.
The fact that April 1st is usually a
period of special disturbance in the
money market has been passed with
scarcely ripple is Of itself assuring: