The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1913-01-29
HENRY cLEWs AND BUSINESSES.

ing the early part OF the past week
which was due to relatively cas-,
money conditions; to the better out
look for ending of the Balkan wal
through Turkish concessions, and tt
a belief that most of the current I'M
favorable conditions at home hays
been in measure discounted.
Owing to the influx of funds from
the interior, easier money rates are
B prevailing, ?the actual reserves Of
the Clearing House banks last week
Showing an increase OF nearly $4,000.
200 This permitted a fresh outflow
iof gold, amounting to about s5.o0o,00o
for the week chiefly to Argentina. AT
this season OF the year gold frequent.
lily goes to South America on London
account in order to pay for grain and
meat exports to Europe from Argen-
tina. Next week the February dis
! DuTsements. amounting to over. $780,
o00,e00 viii become due. making a
/ grand total OF s347. 00o, 600 since
January 1. Since the investment de-
mand for securities las not thus far
come up to expectations. and since
iprices are lower than two months ago.
conditions are favorable 10 more &C,
Itivity In the bond and stock market.
either on investment OF speculative
account The outlook is for continu,
led easy money until preparations for
the April settlements are in order.
Large sums of money are still locked
up in grain at TIE west awaiting
shipment. The open winter is facili-
sating traffic in all parts of the coun-
try. and it should also encourage an
earlier return of crop funds than
usual. This is also period Of the
year when business activity Is usual
~ al its minimum; fact illustrated
By the partial slowing down of orders
in the steel and textile industries
without regard to tariff uacertaini-
ties.
There is stiI some uneasIness con-
corning the incoming administration.
In all fairness it is time to ask. have
we not already discounted such draw
backs? Is not the country more ap-
prehensiTe of what may happen than
is iustifed2 Are we not falling into
an unduly discouraged state Of mind.
calculated to bring on rather than
avert the difficulties most dreaded?
As already stated in these adyices. it
is time for the country TO recover its
self-posse and to take a well-baIanced
view Of business conditions. The
facts certainly are not discouraging.
On the contrary, they are OF a nature
to warrant reai confidence, The stin,u-
lating and incontrovertiDle fact that
cur tops last year produced SO, 1000
geo GOO Of new wealth still remains.
The buTing power of the country is
Unparalleled in spite of high prices,
and trade in all directions continues
record breaking in volume. It is
difficult 10 find any Industry in which
there is oTer-expansion. On the con-
traTy. in many lines OF manufacture
producers are behind in deliveries.
while consumers and distributors are
urgent il their demands. The actual
scarcity Of goods in many lines is one
Of he most important reasons for
present high prices The country is
still in the midst Of an era OF active
Development which shows no signs of
having reached its limit, and which
would be ever more active were il
not for the restraint OF political m
certainty and the increasing difficulty
Of obtaining capital at reasonable
rates. Net q few hotations have been
delayed in the hope of occurring cheap
er money Railroad earnings in the
first week Of January we're about IL
per cent larger than a year ago. and
bank eiearings n the second week of
January we're more than 10 percent
ahead Of last year, the gains being
general in al sections of the country.
particularly Il TIE middle west. An
other emphatic esidence Of trade ao
tiyity is our foreign commerce. the
official ftgares for 1912 showing irn
ports Of 81 Sfa. l-J0. 900, an increase OF
more than s2Te. a9o, 600 over last year.
while our exports amounted TO 81
400, 900 ,090 an increase OF goo. eee..
GOO for the year. This left an excess
o. exports for the year Of 25s2. 009, 1s0o
as against $4,000, go a rear ago.
rms explains cur strong control over
the European money markets. Since
Europe is still largely debtor TO the
United States, eventually this balance
VIII have 70 be settled by Imports OF
either securities, merchandise or colo.
probably the two latter.
Is to the noiitical situation, this
would seem to have been fairly dis
counted. Some Of Mr.. wilson's 1T
4 teFsnees caused. as we all know, con
! siderable eisquiet, but Judging BIZ HIS
1 general steadiness Of character and
/ ms persistent refusal 10 apresr 10
4 popular prejudice, or 10 play tho deraa.
4 gogue. It nay be hoped that he win
not give the country any further mn.
i necessary shocks He has ,sade
good governor Of New !ersev ard
! his ideas upon tariff ami trrsts -
well known and fixed. The presiean,
NAV have, when he choeaae ~ So.
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