The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1911-10-11

September. Fortunately, the collapse
was arrested by strong banking sup
port, by large purchases to cover on
short contracts and by good invest
ment buying from Institutions and |
wealthy investors who picked up the |
better class of securities without diff |
fiLculty, and are apparently confident !
that such purchases will afford good |
profits in due season. The outlook |
has consequently distinctly improv- |!
ed.
Aside from this artificial support, |
there is a much better undertone to
the stock market than a week or two
ago. In the first place the decline has
put the market upon a safer and
sounder basis. Then many of the dis
turbing influences, such as the Moroc-
can incident, the crisis abroad, etc.
have either distinctly improved or
been fully discounted for the time be-
ing. Without doubt the technical pos
ition of the market has positively inn
proved, and though the clouds have
not by any means rolled away and
left clear sunshine, fair rally in
values has been distinctly warranted.
Whether it will make further progress
or not depends largely upon events.
Should these prove favorable. still
higher prices may be expected, for
those who bought freely two weeks
ago to stop the decline want better
| profits than the market yet offers be
fore letting go their surplus holdings.
! One of the best features in the stu
alton is the improvement in the bond
market. There are indications of re
newed interest among shrewd buyers
and institutions who always select the
best grade of investments The low
prices at which many excellent issues
are now selling is a special induce
ment to this class of buyers. Anoth-
er good feature. and one that is funda-
mentally curative, is the steady in
crease in our export trade. In August
alone our exports of domestic merch-
andise amounted to over $141,OOO,OOO
or $1O.OO0.000 in excess of last year
September is likely to show CORE
spending. if not greater expansion
There was a satisfactory increase in
food stuffs and raw materials, but the
principal gain appears to have beer
in manufactured articles; shipment,
of the latter being valued at nearly
500, GOO, 900. or 100000 in excess o
the same month year ago Such fig
ures are particularly encouraging
The large increase in our shipments
of manufactured goods, particularly o
steel products. serves to keep on
trade balances in good form and act
= as safety valve in preventing over
production Now that We are passin,
4 through a business reaction, the fore
I and extent of which has not yet beef
1 determined, it is assuring to find tina
\ our manufacturers can place their SUI
plus abroad. AS prices here, especial
ly of steel products. are still falling
the chances are that we shall under
sell Germany and England for som
time to come, although both of thes
countries are beginning to feel tn
contraction of general trade and ma
lower their prices to meet America
competition
The situation abroad is distinct
/ ing, although a final adjustment is NJ
| yet in reach. AS for the war betwee
Italy and Turkey. it is not in itself
| very serious affair though at any tim
it may provoke unsettling information
al complications; so delicately balan
ed are the relations between the Eur
pean powers. In Berlin the finances
- crisis has been safely tided over ar
/ Germany has stood well the WITHDRAW
ais made by Partisan bankers, chief
because New York enabled Berlin
| pay it's debts to Paris by advances
about $40,000,000. Paris has also e
capped serious consequences from Il
recent crisis, although trouble W;
feared at this weeks settlements.
London the financial situation
steadier, in spite of an undertone
uneasiness brought about by rece
failures
The efforts to trace causes for Il
recent financial depression still co
tinue, They are numerous enough
cause amusement were it not for Il
serious consequences involved. II
majority of opinions are based upt
conditions with which their autho
are chiefly familiar. Some blame N
Roosevelt, some hold President Tia
II al H.,