New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-08-05
REVIEW AND DIGEST
Improvement in Stock Market
business Conditions
improving.

ket on THURSDAY, Wnen. Will viva"
general movement, prices responded to
bullish sentiment and moved upward.
For several weeks the market has been
IN a ground swell which kept a con-
slant rolling from side to side OF
prices. hut failed to get into real action
dcmonstrative of decided tempera-
ment. 1t was anybody's market up TO
Wednesday, when signs OF an APP
preaching betterment made their APP
pearance and a sufficient purchasing
mower gave evidence Of supporting in
terests. which caused bearish sentiment
to begin a gradual change toward the
bull side THU sday. when the bulls
began the first feIOcious attack on the
bears. ard routel them. even TO the
point Of causing s>me of the fearless
old bat IL scared grizzlies to scatter.
Conditions have been favorable To
better stock market for some time. Crop
reports have continued TO improve,
and the critical period when the dan
ger zone would be passed has been
growing nearer with favorable indica-
tons increasing. The Industrial de-
vclopmcnt has been continuous. each
passing week confirming the real i'm
provemcnt and forccasting a broad.
general trade revival which promises
10 exceed ali former records and cs
tablish a new era Of greater industrial
activity Sentimentally SO Changeablc
we lose sight Of the real power behind
this country's progressiveness, our in
creasi1g population each year reQuir-
ing large Quantities Of everything We
grow anG manufacture. our cities in
crease at a rate of from TO 5 per cent
annually, and assuming that the ratio
of the rural populations growth Is
much smaller, 1t is iair to estimate an
average of per cent. With a popula-
ton OF o.. 000 600. increasing each year
in greater proportion. il means that our
farming products. manufacturing, pub
lie utilities ana all channels Of trade
must be enlarged to supply our home
demands. In addition TO this home
consumption, we are now moving
steadily toward an important lntcrna-
tional position as an export country OF
manufactured products. Long has this
country contributed its wheat. corn an3
other products OF the ground toward
feeding foreign countries. but in the
field Of industry American made goods
in other cCuntr1cs than our own have
occupied only an inconspicuOus place
by comparison with English and Ger
man exports Of similar assortment
The half year ended June 80 last
showed remarkable increase in Amer
lean exports OF manufactured products
which points to an outlet for Amcri
can Industries which will grow not IL
a ratio, but by Tremendous Increases,
compelling an additional output for our
factories and mills heretofore never
considered. With such an cvidencing
Of commercial and Industrial probable
tiles, with necessity at home requiring
greater provision for supplying the de-
mand and with the natural law max
ing imperative the providing Cf food,
shelter and raiment for all civilized
countries, our business Will be forced
into q larger sphere of activity than
has been apparent for some time. There
are the pessimists who can not or will
To-.
present. The gold theorists talk too
much gold, and others say too little
gold is in the world. High prices for
everything We demand in our advanced
stages Of civilized luxury are cited IA
an absolute obstruction 10 prosperity.
Bankers Elame our currency system.
and small tradespeople and the farm
ers blame wall Street and the banking
interests generally.
Irrespective Of all the specialized r.
ritations which touch the sensitive
parts OF American commerce and In
dustry. the future presents a clearer
and brighter opening for progress in all
branches of business and investments
than has been shown IN many years.
There is yet much 20 be overcome and
the political outlook must not be en-
tirely ignored. 1t would seem, how
ever, that by the time politics really
becomes an acute factor in our ma
tional affairs the country will have
such business momentum that neither
politics nor other incidental disturb
ances will materially change the course
OF our promised prosperity.