Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1913-08-06
TIE PRESENT BUSINESS SITUATION

OF considerable encouragement was the carr.
ings statement issued this week by the United
States Steel Corporation. Net returns Tor the
ee.months period ended June so were S4l
2l9.sl3, a gam Of So l93Ol2 over the preceding
quarter and. with three exceptions. were the
largest for any quarter since the organization OF
the big company In view OF the much talked
OF business recession this statement Of earning is
mos, impressive However 1t Is pointed out that
new business Of finished steel amounts 10 less than
half Of current shipments indicating slowing
down in other branchc Of industry but ths rc.
lates TO the future particularly here s some hc'l
fancy on the part Of manufacturer generally 10 cx
tend commitments or stock up 10 any extent until
conditions have become more settled The vol
ume OF general business At present is large his
is Indicated IN the earnings statements OF the ra.
wtv companies Railroad returns are good and
there has been no sign OF slackcnine IN tins re-
spect Notwithstanding the persistent talk OF %
shrinkage IN trade There has been some reces
son il - true but compared with the correspond
inr period las, year general business is holding
up exceedingly we'll
II will not be long until an accurate est
mate can be made Of the extent Of the world s
crops The August report OF the United States
government is always eagerly awaited by the
business public Within the last week there has
been some complaint as to deterioration in corn.
Lul there Is always this talk al tins season Of the
year and much OF 1t is INDUCED in for the sake OF
boosting prices m the gram PIT. Corn had good
start is sturdy and can stand we'll under trying
conditions II 5000. 600 bushcl crop is not
harvested this year the total probably will not be
far from that figure. Other cereals will make q
good return and their aggregate doubtless wall b,
highly satisfactory he news from the cotton belt
is entirely favorable It is believed from present
indications that the SIC OF the crop will be ample
At this date conditions OF soil and plant much
better than they were last year when a crop oi ~
600 900 bales grown.
As to the financial situation money s still d,i
hcuh 10 obtain and It Is believed that rates 90,
likely to remain high the remainder OF the year
when there should be some easing up Monetary
conditions are still such as 10 discourage long term
financing and bond no,a,ions arc comparatively
rare. As much new financing the part of gov
ernmcnts and corporations must bc done soon %
thought that the demands Tor capital will Boz 81,
great that a return to the low rates once prevail
ing will be in the dim future q they should even b..
established again.
In view OF the annual monetary stuurcu.y 90
this country during the crop moving pcuod Sec
rotary McAdoos announcement that 50 600
600 TO S5O.00000O Of the government tuud
will be deposited at once in the banks OF th'
south and west for the purpose OF relieving th0
financial situation is gratifying his action mo-
orly affords practical help to an already ugh
money market bot also shows the administration
willingness to cooperate with business when 'url
assistance Is needed Il should be the mean, 90
frr,hering friendly relations between the govern
rrent and commercial interests generally Chris
tan Science Monitor