Evening star., 1912-09-01
GET GOOD REPORTS
Improvement in Business
Heard on All Sides.
STEEL Is BIG EXAMPLE
Activity Undisguised and Is Ex-
panding Day by Day.
CONDITIONS IN THE SOUTH
That Part of Country Believed to
Be in Excellent Shape-Mar-
ket Accomplishes Little.
CONDITIONS IN THE SOUTH
BY n. ALLOWAY.

BY II. ALLOWAY.
NEW YORK, August 31.-Beyond
aught else what is unmistakable and
notable in the present situation is that
business conditions improve-that good
times anticipations are hardening into
reality. This is true the country over.
1t is true almost uniformly in every
branch of trade. Such exceptions as
must be noted have exceptional. inde-
pendent explanations that are entirely
peculiar TO the interest affected.
From every one OF the great business
concerns of the country issue indications
Of an activity which is swelling continu-
ally and largely. The steel trust stands
an italicized Illustration. In every de-
partment of the United States Steel Cor
poration's business there is activity un-
disguised which day by day, week by
week, expands. And 1t is just so among
all the gigantic combines 1t Is SO In
copper ii is so in leather. 1t Is so In
rubber--the record runs comprehensively.
Where there was biueness among pre-
eminent manufacturers only a 1ew
months ago there is traceable now no
other feeling than that of confidence II
is of course, not unnatural that some OF
the oracu!ar representatives of big capi-
tai feel called upon to show themselves
a bit explosive over presidential poiltics: |:
and some of them affect to be disturbed
over something dreadful that might nap
pen If their own partisan ambitions go
awry But long acquaintance with GOOD
men of this sort teaches the veteran op-
server to be impressed more by expand
ing business than by expanse OF voice.
fulneSS. The business men OF the coun-
try are gratified with the business stu-
ation-this is the bald fact.
Better Conditions Everywhere.
1t is not merely in industry that better
conditions show. Agricultural results for
the year are gratifying beyond precedent.
And the record-the consequent record
illunes every other department. COM
mercial and financial alike. Throughout
the west all over the northwest, and at
every point in the southwest, there Is a.
cheerful status with which no recent year
can compare.
Especially is the south entering upon
larger prosperity-the fact now certified
being in splendid contrast with what has
been persistenty proclaimed by wall
street croakers. Barely a month or two
ago we were overwhelmed with volumin-
Gus representations that this was to be
black season for Dixie-and southern Sc
curities were made to feel the blunt or
the outpouring pessimism. Yet what de-
velops is REGARDED as inspiriting wholly
extraordinary. So much stress was laid
upon declarations that the south was go
ing lame this year, and so influential In
tie security market were some OF the de-
ductions thus seeming natural, that there
IS value, timely and substantial In
statement which this review is permitted
to quote from one who may be regarded
as an indispensable authority upon
southern conditions-Robert J. Lowry of
i. Atlanta. long recognized north and south
as an ultra conservative. who through his
own banking Institution has intimate
financial relations with every phase of
southern agriculture, trade and traffic.
This Is what such man says:
South in Good Shape.
"viewing the situation in the south from
all angles. the south is in good shape.
We have no reason to apprehend financial
stringency or panicky uneasiness. OF
course. we know that in every presi-
Dental year there is to some extent q
feeling of unrest, which is more one Of
uncertainty than of alarm. but in the
south this year there is no cessation of
business activity. even though at heart
some may partake of the feeling of un-
rest. and may curtail investments until
after the presidential contest Is over. 1t
seems to me. however. that our people
have disciplined themselves to the extent
that they have learned that, after all,
economic conditions In any section de-
pend upon the resources and the people
of that section rather than upon the ap-
pearance or non-appearance of political
rainbow upon the horizon. Our people
are acting with sound judgment and dis
erection. proceeding along the line of the
idea that there Is every reason for legit-
tmate hope OF stable and prosperous con-
ditions in this section. and with this
state OF popular thought it would require
something extraordinary to produce a
nervousness of sufficient violence to Gre
ate hard times talk.
Good crops and good prices will en-
able farmers TO not only pay out, but
make some investments and the croppers,
am sure. viii fare as we'll as, or better
than, usual
Business has been normal through
out the south this year. Manufacturing
plants are busy; railroads are having a
satisfactory business; shipping Is active
banks and other financial enterprises are
doing a safe and conservative business
money is reasonably easy: and the people
seem TO be satisfied / do not think one
could expect better conditions TO obtain
during a year which Is supposed gener-
ally TO be devoted to listening to the
stump-speaking calamity howler. usually
80 productive of spirit of unrest and
alarm"
This assurance, from such an authority
has consequence beyond southern locality
lis Indicative of what broadly may be
regarded as national.
Little Accomplished in Market.
In this weeks market not very much
that Is definite has been accomplished
About half the time the market has beer
strong. showing an inclination to advance
generally: the other ha4f has been disap.
pointing. Railway earnings are good
and on this account points" have beer
freely distributed In favor OF q wide
variety OF railway stocks But IL has
seemed that every time a bid for any sub
stantial amount OF stock was made II
could be supplied very readily Some
body OF consequence appears TO be Will
ing 10 sell almost any railway issue al
any time. in any volume This does no
reflect upon intrinsic value. IL does be
token the fact that spectators who have
recently accumulated long lines OF stock:
are disposed to take profits whenever
fair bid appears.
Coinoiding with this phase OF the situa.
tion. il Is notable that this week has wit
messed the registering of new high price:
for number of stocks Some are higher
than they reached in the buoyancy o
1909. In conspicuous instances many ar,
now higher than at any time hithert,
this year. This cheerful feature of tn,
situation has been brought about withou
hysteria of any sort. Truth is, we hav.
been having a bull market for month.
pasta bull market In the sense and Il
the extent that IL is inspiriting to finC