Las Vegas optic., 1913-04-15

Is ms dlspFoporuonate reductions
made Ii many cases between raw ma
terizls and finished products that has
ar0ased hoslIity. In not a few in
stances the reductions on eottOns.
wColzns. steel manufactures, Hour.
ete- are greater than in the raw
materials oof which they are com
posed such reductions would put
mznufactmers at much more Sc
rI0us disadvantage than If the de-
eInes we're made more proper
tIoonate. In al probability defects Of
This sort VII be remedled in the sen
ate. If not n the house, and the final
bzI IS pretty sire 10 be less drastic
than the original. Probably the worst
effect Of The tariff bill VIII be the in
evIrabIe uncertainty for another two
OF three months. If not longer. Mer-
chants VII refuse TO stock up, i'm
ports viz Be deferred and many en-
tarprLses VIII be held in check and
impOrtatioHs retarded The effect OF
the latter upon our national revenue
and foreign trade remains to be seen
the probability beng that il might
start gold imports at an unusual sea
son on the other hand, a rush of
imports Is sure to follow later on,
when duties have been lowered to
take advantages 0f the new rates and
70 tn up The gap in supplies causeG
by several months of waiting Mean
Ehlle much feeling viii be aroused
By discussions. which win tend to di-
vert attention from legitimate bust
ness It IS worthy OF note, however,
that the securities Of protected indus
uias have n0t thus far shown any
particular weakness Evidently their
owners are not IN such a panic as
appears when It comes to dispOsing
Of their industrial securities. The
steel trads is eouspicuously indiffer-
ent 70 the tariff
The monetary situation is still i'm
proving Funds VIII soon begin 70
return from the interior more freely
and the local mooney market is prom
fsed easy gong for the next few
months should business be less act
i've. as nov seems probable. that VIII
tend 10 encourage comfortable condi-
tons. although much depends upon
the extent Of the applications for new
capital. which promise to be heavg.
I In Europe monetary conditions are
also becoming easier, especially in
England. france and Germany. The
was has practically ceased to be a
disturbing influence. although final
adjustments are stn to be made. An
important Fraeh loan is pending
which nay nave some effect upon
foreign conditions. An early reduc-
non in the Bank Of England rate Is
expected. which now stands at 5 pei
cent
General business is evidently slow
I inc down fIezrIng house returns No
longer show gains over last year; il
fact, for The past two weeks they
have shown smaH declines. Railroad
earnings are also exhibiting smaller
/ Increases TIE number Of idle car.
increased, partly owing TO the recent
I floods. which naturally induced iOea
setbacks. but these are only tempo
rary- The most important favorabl,
factor Is tie improved condition
/ the money MARKET and the fact tha
relatively easT rates are assured 70
some tine % come Moreover. ther
are many stos Ehich are sim sell
/ ing a. price Ehieh iyeld liberal Re
furns. evea spoa the new basis @
Z eomusrlss another important 81
nent faFor1z fae stock market e ID.
exeEert ers etiock The conSi
noa " Hlrsr sheet was reDorie8 3
stef II eF fhan ges