Bisbee daily review., 1911-09-07
THREATENED STRIKE
 IS CLEWS SEES T.
The Time, the Financier Be- lieveS Unfa9orabIe to the
 Shopnen

! couraging labor and political sltua ton. There is unquestionably a deep feeling or uneasiness regarding the present aggressive attitude of labor, coming at a time when business and economic conditions are so unfavor-
 able to making further concessions. | The difficulties with labor appear to De chiefly confined among the rail roads. aud have heen greatly stind- lated by success of the labor agitation in England. The conditions on. both sides. however, are vitally different. American railroad employees have al- ready received liberal advances in
 wages: and the inability of the rail reads to secure better rates, coupled with general shrinkaee in the vol tune Of traffic, renders the position of the companies a very discomforting enc. On the other hand the British railroad employees were poorly paid. and have had no advance, although the British railroads had been enjoy ing a period of more than average prosperity. The demands of the Eng
 fish employees were supported by degree Of reasonableness, which does net exist in the demands of American railroad labor. Should our American employees insist upon forcing their demands. the results cannot but be dis astrous both to themselves, the rail road and public interest in general
 The railroad situation is one which requires great tact and forbearance on both sides Each should make an effort 10 learn the situation affecting the other, and each should show Willingness to look at affairs from the others point of view. Both combined must hold in due regard the interests Of the public, which viii not longer endure being trifled with because of disputes between employer and em- ployes. It seems incredible that any intelligent labor leader will precipitate a crisis at this time, since they and their followers would in the end be the worst sufferers Fortunately, the Union Pacific management has shown much wisdom in meeting the mems representatives in a conciliatory man ner and explaining 10 them the pres. ent situation. As reasonable men, lt Is difficult to imagine otherwise than that the labor leaders will await more favorable opportunity for pressing their demands. As to the political outlook, that is still regarded with tinidity. especially in view Of the ap preaching tariff agitation and the pre- mature opening of the presidential campaign. Other factors which checked the spirit Of optimism. sol marked a month ago, have been the general quietness of trade in all parts of the country. the spirit of economy which is spreading both from neces- sity and diminished consumption, as well as s reaction from recent extrav- sgance. Railroad earnings also show significant decreases owing to dimin- ished traffic, while retrenchment on part Of the railroads increases the namber O. unemployed and adds to the dullness in the iron and other il7.rort ant industries in which railroad pur. chases are always a very important factor.
 These conditions, in brief, account for the prevailing tone of pessimisr which is more acute in Wall street than in any other part of the country. How deep and how far this financial distemper will go romans 70 be seen and it remains 10 be seen whether uT not it has not been overdone. It must not be overlooked that there are counteracting influences at work in due season, and perhaps sooner than expected, must modify the pres ent tone of discoUragement First among these is the crop outlook. This Is distinctly not so bad as al first feared. The wheat crop will not bel large, yet it will be sufficient for all practical purposes and will leave a moderate surplus for export. The corn crop, the largest single factor in our national prosperity, will certainly he a satisfactory one. 1t is perfectly unreasonable to take on discourage ment because we fail to reach last years bumper crop of over 3,I25 ,009.
 GOO bushels. Since the last goyerIi- ment report there has been a decided improvement in condition, which, sup piemented by the fact that the govern ment estimates are unusually below the mark. suggests that we shall have crop of at least 2,800, 900 .000, 900, if not 2,9O0 000.000 bushels The latter may be an outside figure. but the first named estimate is practically a cer, tainty ct this time. Another import. ant erop-cotton-also promises a large yield. notwithstanding persist
 ent reports of great damage. Since the government report was collated rain has fallen throughout the cotton
 belt doing vastly more golJd than harm; SO that the yield will probably be larger than indicated by Thursdays report. So far as the crops are con
 cerned, there is nothing 10 warrant present pessimistic conditions; on the contrary, we are sure of a good average national harvest
 Another favorable factor is that rel. atively easy money will prevail during the remainder Of the year, although ii
 is quite probable that firmer rates will be seen as the crop demands be gin to assert themselves. Our exports have been large and have materially strengthened our credit abroad. Be fore long we shall be better able to
 command the gold of Europe. fl needed; and should Canada find if necessary to borrow more freely for
 handling her unusually large crops,
 we shall be in a position to afford such | assistance without inconvenience tt ourselves. The financial situation in
 New York can be regarded as excep
 tionally sound. There has been heavy liquidation during the last few weeks.
 equaling that of fair sized panic, and