The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1912-03-11

time for a settlement Of some kind.
and that the efforts 10 make political
capital out OF the dispute will not sue
coed.
] While there mas been no great fall {.
ing off in general business, still the
volume of trade is below normal and
all business concerns are more or less
embarrassed by the increased cost OF
doing business. This is illustrated by
the number of industrals which have
often made poor reports, and in the
| case of the railroads 1t is striknely
emphasized by unsatisfactory net re-
| turns. Dividends on the latter have
been maintained by economies too
rigid to be continued unless equip
ment and plant are to be seriously i'm
paired. So far as railroad employee
as whole are concerned, they would
seem to have little cause for com.
plant. Statements based upon Inter-
| state Commission reports have Just
been issued showing that railroad en-
| oloyes received $4,000. 900 more in
4
| spite of a decrease OF over 20. 600 in the
number employed The total wages
paid the last fiscal year to railroad en-
| ployes was $i,005, 900 900. hut the net
revenue OF the railroads fell off dur
ing the same period over $11 900, 900.
| The railroad situation al the moment
- anything but satisfactory. A rigor~
/ nt,t 4
forced unusual expenses upon the
roads. not TO speak on excessive strain
| upon rolling stock and equipment. In J..
| evitably the roads will soon be COM
| PEELED to make heavy expenditures for
maintenance, and much will depend
/ upon the future course of business.
| fortunately, the outlook in this re-
spect is more assuring. There Is an
accumulation OF traffic which must be
rushed forward as the winter disap-
| pears. Interior conditions are also ia :
| rorable TO at least partial resump.
| ton of business activity, for the vol
ume Of traffic is still below normal.
| Merchants all over the West report a
more hopeful feeling and light stocks
Il
purchases during the spring. Agricul-
| tural prospects are very encouraging
| From all sections incoming advices re-
port the soil as an ideal condition ow-
| ing to favorable combinations of rain.
| snow and freezing. Those In close
touch with the situation anticipate
large crops and increased production
/ a Nf
| present high price levels means an
| other profitable year for farmers. II is
| 10 be hoped that the surplus crops In
1912 will be sufficiently large to in
| sure somewhat lower prices In order
| to bring down the high cost of living
and still leave good returns to the
farmer arising from larger production
Never before was the country so much
in need of good crops as in 1912.
The monetary outlook is more i'm "a
vor of steadier than easier rates. Bank
| reserves have been declining. Spring
requirements Will soon begin to be
felt. IL is not impossible that in
creased commercial activity may coin
|
stock market. Thus home influences
are on the side of steady rates for
| money. The foreign situation is equal
| ly SO. We have already shipped s17.-
| 100000 gold. of which $4,000, 900 went
to Paris. Trade in Europe is active
and the great European banks. as a
result of last years war scare. appar-
emily consider it good policy to
strengthen their resources. This is
particularly, true of Germany, whose
hanks showed themselves at the time
Of the Moroccan incident utterly un-
able TO meet the strain our loans
abroad are already extensive, and Ger
man borrowings at this center have
been feature. These conditions H.
lustrate the growing Importance of
New York as world finance center.
They also show the strength OF our no.
sition when we are able to afford 40
much assistance to foreign banking
institutions. Should our own necessl.
ties increase. we would be quite likely
to curtail our lending abroad.
Politics have been less factor in
! the stock market this week. and the
outlook in this respect Is more salts
factory Radicalism Is certainly on
the wane. Nevertheless. the campaign
has not yet reached It's height and as
the political barometer will nuctuatc