Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1912-04-03
HENRY CLEWC REVIEW ON
THE MARKETS

NEW YORK, April 3-The stock
market continues 10 reflect present
and prospective improvement in bust
ness circles. This is particularly true
in regard to general business. Ad-
vices from the west are all of more
cheerful nature. Crop conditions are
exceptionally promising, although in
some section spring is late. Mer-
chants in all parts of the west are
stocking up more freely in anticipa-
ton of large business. Consumption
Of staple commodities does not ap-
pear to have been curtailed by recent
depression, partly owing to severe
winter, and distributors find them
selves absolutely obliged to replenish
empty shelves much moro freely than
expected.
The iron trade is now showing a
very encouraging degree of activity.
Some plants are running at 80 per
cent of their capacity, and few are
known to be running to the limit.
Prices, it is tale, are often low, but
this stimulates demand, keeps a large
number of hands employed and re.
suits in wider activity. Many orders
are now being given out for steel re-
quired for structural purposes, and
the railroads are also entering the
market more freely for rails, LOGON.
tives, cars, bridge material, etc. Rail
orders since January are reported at
over 100000 tons compared with $780,
000tons during the first quarter of
1911. Fully 10000 cars have been Or
dered during the first quarter of the
current year compared with $4,000 Or
dered at the same time last year,
while 800 locomotives have been Or
dered compared with 786 year ago.
there are indications that the rail-
road will soon become even more lib
eral buyers, not only on account of
necessity, but from the fact that con-
ditions will be more favorable to the
financing Of such operations, not to
speak Of the fact that the hardening
tendency in the steel ira e will stimu-
late the early placing of orders.
The activity in cotton goods also
continues, namely because of the ex-
haustion of interior supplies, which
is confirmed by the large purchases
of jobbers. Some mills are now sold
out to the end Of 1912. Prices are
strong and the trend is still upwards.
The only serious drawback in the cot.
ton industry is the fresh outbreak of
labor troubles, which may seriously
embarrass manufacturers. In other
textiles the outlook is favorable, saw
ing for the uncertainties of the labor
situation. Now that winter is break
ing up construction work is being re-
stunned in all parts of tle country,
and railroad traffic is showing ma
terial improvements. Some Of the
roads are already congested with
freight released from winter block
AIDES. AS a result current railroad
earnings will show much better CON-
Parsons than the returns Of January
or February, which were extremely
discouraging. The increases reported
by Atchison. Erie, Southern Railway,
Southern Pacific, Union Pacific and
others this week must be accepted
as a fair indication of turn for the
better in railroads, a change much
needed after the losses and bad bust
ness Of the last few months.
The only clouds in the business
horizon are the prospects of a coal
strike and of difficulties with the
engineers of Eastern railroads. As
for the coal strike, there seems to be
little reason to doubt but that the
men will walk out and production will
be suspended for an indefinite time.
The situation however, is not one that
warrants extreme measures on either
side, and there still remains a strong
hope Of comparatively early settle
ment. The British strike has been
q fiasco from every point of view.
Both sides have suffered enormous
losses and the public has had to en-
dure serious inconvenience and suf-
fering. The end Of that struggle is
close at hand, and its moral effect
will be discouraging to any similar
he The lesson Of the
British coal strike is that such dis |
putes cannot be settled advantageous
~ by industrial war. In the end
discussion and arbitration will
prove much more advantageous to
both capital and labor than wasteful
not to speak Of the injury
to long suffering public that is grow.
ing impatient over such unnecessary