The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1912-11-22

New York, November 1S.-Stocks
appear to be awaiting the further
outcome of current events before
making any decided movement in
either direction, This weeks fuctu-
atoms were largely the result OF strong
local manipulation, and net changes
were unimportant. In intrinsic con-
ditions there were practically no
changes. The country is still feeling
the stimulus of tremendous crops,
and from the Atlantic to the Pacific,
as from Canada to the Gulf OF Mex
leo, come encouraging reports OF DO
nestle trade geXpansion. In mary
cases the reports are exceedingly
optimistic, and beyond doubt the
United States is enjoying the Wild
est degree of trade, activity in its
history. 1t cannot be said that
profits are universally liberal. Some
concerns, it is true, are enjoying
the greatest prosperity in their his
tory; while on the other hand some
establishments are not getting their
full share. The fact is that owing
to the increased cost Of doing bust
ness many large concerns are not
getting their quota OF prosperity.
This applies partially to the railroads.
Their gross earnings show most graft
fying gains, but net results are not
by any means correspondngly sat
iSfactorv owing TO the tremendous
increase in expenses. In brief, while
the country is enjoying great pros
perity the results are more uneven
" distributed than usual.
The European situation, which has
lone been vital factor in this mar
ket, shows decided Improvement.
The Balkan war appears to be prac-
. ticallv ended and diplomacy may
safely be depended upon to work
out it's results without serious diff
culties between the great powers
Temporary friction may ensue, hu
it is very evident that England, Ger
many, Russia and France are q
strenuously opposed to war. CAR
consideration of the problems to be
solved plainly shows inadequate oc
cason for any such calamity; and
should not be forgotten that all TIL
great industrial nations Of Europe
are so preoccupied with industri%
activity and national development
that war is altogether too serious
an interruption to receive seriou
| consideration. The great bankers q
Europe are in no way disposed tc
! finance a ruinous European war, and
! they are likely to control the situa
| ton, for upon them depends the
raising of the sinews OF war.
AS a result of more peaceful tend
encies conditions have improved
the international, ,, money markets
| There is less fear; of financial dis
aster and the situation has beer
materially strengthened by the
! liquidation of unwholesOlue Specula
ton. Firm rates are ruling in a
the foreign money markets, the grea
banks being disposed to maintain
present high discount rates; an atti
! tude which of course discourage
the possibility of gold exports to the
! United States. A better feeling
however, has resulted from Europe's
repurchasing some of our stocks solo
month ago. In the local money
market somewhat more comfortable
conditions prevail. Good rates are
! likely to continue for some time tC
come, but no stringencN' is in sight
at least before. the usual prepare
tons for january disbursements.
In two weeks congress will reas
semble 1t will be but}a short ses
sion, AID no important legislation at
! fecting business is to be expected
The business world has had enough