The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-08-18
SITUATION IS
SATISFACTORY
Clews Says Reports From Bust
ness Centers Are Good

New York There are reasons for
regarding the situation as more sat
isfactory The tariff bill will soon be-
come law. Its provisions are pretty
well settled and have been largely
discounted. As soon as the bill is
definitely PASSED there will be a
prompt resumption of industrial and
commercial activity, rendered impera-
tive by the zap In supplies after
nearly "a years conservation In buying
and selling. The prospects, OF a moro
satisfactory currency bill are mcreas-
ing daily The progress OF the new
measure is somewhat painful and
slow. but such changes as have been
made is the proposed bill are gem
orally nf a desirable nature, and
reasonably satisfactory hin promises
70 pass the House during this session
ot Congress The Senate is some
what doubtful although it remains TO
be seen as To how far President VIII
sons growing influence viii overcome
that obstacle.
The reports from tho business cen
tcrs of the west are exceedingly en-
uouraging There is general activity
al an the principal commercial CEN
ters and littlc or none of the gloomi-
ress which has been SO conspicuous
i'm the east. The one point of dsap-
pointment i'm the present situation is
the unquestoncd damage 10 the corn
crop. which conservative estimates
now place al about 100000, 600 BUSH
els less than "A year ago. This is a
real disappointment which should not
be underestimate. 1t is quite possi-
bic, however. that the damage has
been exaggerated to some extent, and
il should not he overlooked that in the
northern sections of the corn belt
there has been considerable improve
ment i'm condition which may partial
ly offset the losses i'm Kansas Missouri
and oklahoma. In other respects tho
crop outlook continues satisfactory.
Wheat. as is well known, promises a
bumper crop. \ large cotton crop
seems also assured. though this crop
and corn will he I'm danger Of early
irosts for several weeks to come.
There has been some cessation Of
activity i'm the steel trade as we'll as
80 reduction in prices The latter.
however, promise to stimulate orders
which are sure 10 come with invrcas-
ing volume as the trade recovery al
ready started makes further progress.
Easier rome will also facilitate new
orders Current railroad earnings
when reported are likely to show sat
.sfactory gains There has been an
unusually heavy grain movement. par
ticuiarly OF wheat during the last few
weeks, anG Au-ust returns should
prove more encouraging than those OF
Urcyious months
Technically the stock market is in
good position. While the recent up
ward movement had its incentive in
the influences noted above. it has
been LARGELY accenUatcd by the COW
eriug Of an important short interest
not Vet by amy means eliminated.
While the market has shown iucreas-
ing activity aud some of the advances
lave been rather too violent and rapid
{" iust still tho general undcrtonc is
sound ard satistrtury As yet there
las been uo eNoessivo speculation, and
10 i- c.t1.u' that the leaders of the
present movement are Inclined to dis
courage ans dangerous or uurcason-
able ACTIVITY Tho volume of tr7ins;lc-
tiuus IN Jh, husi,st day of the week
would only o., considered normal i'm
ordinary time. tu.fr.r IsIufut ra,.