The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-05-12
SAYS TARIFF WILL NOT
LARGELY AFFECT BUSINESS
HENRY cLEWS EXPECTS RETURN
TO NORMAL ACTIVITY WHEN
BILL is SIGNED.

New fork-ln business circles there
- increasing conservatism accompan-
led hy general SLOWING down this
tendency being on the increase "a,
western trade ceuters Bank clear
.nss AT all cities I'm the United States
during April showed e shrinkage 81
nearly per cent compared with a
NeaI ago, the largest declines helms IN
the Ne" England ana middle states,
where tarir changes would be most
telt The failures ia April aggreeJt-
cd slN,"o0.000 IN liabilities. a. moderate
increase of about SgUoO.0ro over last
year. Real estate operations Shot
contraction with yeaI ago. This re-
action Is partly due Co. tho caution II
| bankers. who are diecouHgiug over
/ expansion. ana ARE anxious Ia
strengthen their reserves before the
autumn demands. which may he very
heavy begin 10 assert themselves
An added cause of hesitation is tho
rev tar.h and its possible effect upon
values. u is we'll understood that an"
bill as passed by ~, House viii Stri-
olslN AFFECT a few special interests and
'n'ie Is strong hop, that the extreme
cuts VIII be modified iu tho senate be-
fore the bill becomes ErV. Business
a. Wh"ie VIII not Doe largely affected
10y the new bill A. IoLg as unccr-
tilhtN lasts, however commercial
transactions must bee limited 90 actual
requirements. When M" bill is final
signed business Thus held back viii
De rushed forward and Wc may anti
''p"'v prompt return io more normal
a'tiV!tl. Larger imports ar" inevita
pie me income TAX feature of tae
pHl II creating friction ana opposition,
although not SERIOUS incubus as Set
upon business transactions. The most
'Hc"uidsihs leatnr" ia ih" business
OUTDOOR - the excellent crop prospects.
- rom nearly all parts Of The eountr
come a'EIees stating That the soil has I,
Hau abundant moisture and that all |
lhe crops promise splendid start un- |
"er most favorable conditions. Should !
present crop expectations Dee realized |
'HeIr ~ u" question but that thcN viii |
'ar7e'S oHset depressing tendencies ia /
business AFFAIRS especially when tnc |
tarih IL out of the way Other favor
'"i" business indications are the de-
treass III Idle ears and the reduction |
II STOCKS OF copper.
IN" STOCK exchange the general 1
tone mas h"eh one OF caution, An un- 1
% 'lSIa'i'ry railroad situation. further 4
IeO!'hes IN many 81 the standard 4
STOCKS the lnsistcnr~ or new capital
'efnahds' the Tear OF further dividend 1
i"dUeu"hs and the HdN"rs. conditions
referred To above HAY" all contributed
10 encourage lower prices. There II
now bear party OF considerable i'm l
.ortahce' whose holiness has been
liuth stimulated Toy recent Successes.
lhelr chief danger Is IN overse Hing ,hc
market. The delay IN settling tho
hartman dissolution proceedings has
also had d' trimental effect, although !
h's" s"ruiili's are now believed To
De- selIihs az an "N-harrlmau level
IN" iutur". however promises 10 ut- (
Ter very exceptional opportunities 10
the careful investor. for high grade
securities are now selling at figures
"h'ch VIII Yield handsum" profits if
pat away IN strong boxes for sulii-
'leEt period. For second and third
rate securities thu outlook is not 50
good. y number Uf industriais, chief
Is those of In" unscasoned class, have
been Obliged 10 reduce dividends; and
more will probably follow in their
wax" II business continues to decline
Thus TAR there has been uo such
Iiquidation IN commodities as in Sc