The Cairo bulletin., 1911-04-10

omy, the agitation against the nigh
cost of living having had decided
effect in this direction. The spirit OF
economy is spreading. The textile
interests are feeling the same influ,
once. Consumers are wearing old
cloths longer and buying less of the
new. As result the cotton anu
wooden goods situation is extremely
unsatisfactory, making it exceedingly
difficult to artiiicially sustain the
price of cotton. Tariff agitation is
an added source of complaint. In the
northwest reckless land speculation
has been checked and liquidation has
already begun. The end of this move
ment, however, mas not yet been seen,
and it need cause no surprise If some
of the weaker financial institutions
in that locality will have to go
through further process of house
cleaning Another indication OF tho
dyllness in trade is the falling off in
gross earnings which many roads now
exhibit. In the iron trade there are
welcome signs Of improvement; lower
prices and the resumption Of building
activity having acted benefcially.
The crop situation is also satislac,
tory; the country as a whole having
been favored with sufficient moisture
and the soil generally being in COOL
condition, with few exceptions, TO-
both wheat and cotton. Uncertainty
as TO the tariff and the supreme court
decisions has decided restraining
influence upon business A great
| many new enterprises are unquestion
ably ileld in suspense, awaiting final
ity in these respects. When tnal
comes, we shall undoubtedly see re
newed activity in many directions,
! the basis for which is being substan
TALLY laid by the general readjust
ment of values upon a lower and safer
level
Present inactivity in the stock mar
ket cannot be long maintained. Soon
or or later cheap money will eXef'
its inevitable influence. Cnder exist
ing conditions securities yield bettei
returns taan money. Already there
has been excellent buying Of large
institutions and wealthy holders who
recognize the time as exceptionallJ
| opportune for increasing their hold
ings. Recent large security issues
have been absorbed with surprising
facility. There are no evidences o
congestion in the market, and securi
ties generally are in strong hands
Tee. niCally the stock market is in
conservative position. There are NJ
weak accounts for the reason tina
spcculation has been dormant for sev
eral months. Our great bankers ar
almost without exception optimistic
although guarded in their expression
while 50 many uncertainties remain
= AS for the tariff, 1t seems inprobabl
that any radical changes will be mad
in any schedule except the woole
rates The party now in power i
hardly likely 10 begin by seriously dis
turbing business, and the necessity G
maintaining revenue will prevent an
drastic cuts. AS for the suprem
court decisions, whichever way the
60, activity will be resumed whe
suspense is ended. The prevailin
, opinion is that the decisions will b
unfavorahle, and doubtless this fax
will be found to have been fully di
counted As previously intimate'
some delay may be expected for tn
} reason that the new judges require
! considerable time for reading and d
costing the enormous mass OF ev
n dence Nevertheless, decision upo
j any Monday would not be a surpifs,
HENRY CLEWS.