Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1912-03-19
MORE HOPEFUL SENTIMENT

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MORE HOPEFUL SENTIMENT.
The more hopeful sentiment which
first developed month ago is making
steady progress, says Henry Clews
in his weekly financial review. For
this most welcome change there is
substantial foundation, both at home
and abroad. At home this change in
sentiment is discernible, not only in
financial circles, but in the political
commercial and Industrial worlds
also.
Politically, there has been a de-
cidedly more confident feeling. 1t is
uncertainty that kills business, and
now that this deterrent has been
largely removed. uneasiness has cor
respondingly diminished. Congress
will remain Din session for some months
to come, but the impression is grow
ing that the agitations and investiga-
lions which have been going on all
winter and producing 80 much irrita-
tion will end in comparatively little
new legislation. Po1htaca may continue
to be a disturbing factor In business,
but the worst In this respect has prob
ably been experienced.
Commercially the Improvement Dc
based upon empty shelves and de-
pleted supplies. Merchants all over
the country have been operating for
many months upon unusually conserv.
ative lines, buying only for immediate
wants, until now they find themselves
totally unprepared for any real in
crease in demand. Consumers have
done likewise, and after long period
of economy are now obliged to re.
plenish. Liquidation has run it's course
In ordinary busines circles, and com.
modify values refuse to decline fur.
ther because of the relative scarcity
of many raw materials. More than
ever 1t is evident that population has
been gaining upon the worlds mar
kete. and that there Is little pros
pect for lower prices until supplies
once more run ahead of demand ia
condition as yet far distant. Fortu.
nately the crop outlook is mighty en-.
encouraging owing to almost ideal con-
'ditions Of soil in many parts of the
country; and this accounts largely for
western optimism. The need of large
crops to reduce the high cost Of liv.
ing was never more urgent than now.
The situation in the comemrcial
world is now being reflected in the in.
dustrial world. As usual the steel in
dustry was first to feel the new i'm.
pulse. Our railroads, always the larg.
eat buyers of steel. have been forced
for the last year or two to economic
severely in all directions dn order to
meet the heavy increase Of wages inn
posed at a time of shrdnEage in traf.
fic. Such economies can be enforced
no longer. Repairs, improvements and
extensions are imperative. Large sums
must shortly be expended in such di-
rections in order to meet inevitable
traffic emergencies. As soon as busi.
ness resumes normal conditions the
railroads are sure to find much diff.
Guilty In meeting the demands of traf.
ffc- In other words, the supply OF
transportation has not kept pace with
the increase in population. This means
large activity for the steel industry
and great output of new securities,
evidences Of which have been conspdc
nous ever since the current year be
gan. The next important industry in
the United States, the textile industry,
also shows substantial signs OF i'm,
provement. Cotton goods are In excel
lent demand and prices have advanced
because Of depleted tsocks at retail
WOODEN goods are also IN more salts
facbosy condition. and the silk industry
= enjoying continued prosperity.
Now That the Lawrence strike has
1oea sett1ed and both cotton and