The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1914-03-31
UNAVOIDABLE FACTORS
DISCOUNTED SAYS CT.Ewo

cnnlng prices for fabrics ,aio,t,
nigh prices for raw maieriot ,
runblines of fresh demands for hiot
er wages from labor. The voolo,, A.
dustry rs exceedingly spotty. fo..
ml''s which boldly met the conditions
arising from tariff changes by a sbar,
reduction In prices secured plenty of
orders and have been doing a sa,is-
factory business. Those who hostile,
ed To make the plunge are feeling ~.
pinch of circumstances, and more tho,
20 per cent of our looms are stilI idlo
Copper producers have had a bo.1
year but lately seem to have been do.
ing better. The sugar industry is in
, similar position. The rubber indust,,.
is also doing a larger business after -
period Of severe contraction. The ia
oacco industry has felt the effect ~
disruption and Increased competitior
but is nevertheless giving n good 40.
count of itself. The boot and shoe
industry slowed down considerably.
nevertheless the Central Leather q,
Is doing very satisfactory trade. Az
of the oil companies have been doing a
tremendous business and making nm
usual profits owing. Of course. 10 tho
great expansion i'm the uses of petra
leUm. our fertilizer comranies arc
expecting good year. The agricul
tural implement concerns have NOT
done wen, some having manufacture
TN over supply, while others are over.
loaded with mass Of farmers notes
which are not being met as rapidly rs
expected. The real estate business is.
ANYTHING but satisfactory for reasons
already well understood The Feb.
ruary building returns for $50 cities
reported prospective OUTLAWS of over
| Sj0,O00.G00, compared with other 500
| 100000 year ago. In Greater New
York the total for the month was only
| $S,0oO,O00 this year, against SIS. 900 O0Q
a year ago.
Washington remains source of un-
certainty and disappointment in re.
gard to delay of the rate decision Ncv-
ertheless, il is quite proba bic that some
concessions will he made 10 the rail.
roads, not less. say than 2ia To 3 per
cent. II denied. the outlook will urove
decidedly serious ANA we may anti.
Cinate q series of dividend reductions.
the Injurious effects of which would
extend far beyond the many thousands
of stockholders directly Interested Tn
qucstionably serious financial derange.
ment would follow denial of fair
treatment Of the railroads. The Mex
lean situation is another element uf
uncertainty. Every week of watch
fully waiting" brings MS ncdrcr actual
Intervention, and IL Is sincerely To he
hoped that some settlement will he
reached before prolonged irritation
arouses the United States into exas-
peration and then aggressive action.
The new antitrust hills now before
Congress are Il source of much uneaSi-
ness among business mon upon whom
the initiative depends These bills
are unnecessary. because the Sherman
law mas already been amply interpret
cd AMI defined by the supreme court.
They will simply confuse the situation
and might easily throw away all that
has been gained in the last twenty
years. our business men should pro-
test against any hasty action on this
subject.
The Favorable Side.
This is the sombre side of the ac-
count. Let us now look at the bright
er side of affairs. The unfavorable
features just referred To have unques-
tionably been fully discounted. and
revival in the industrial field would
be quickly anticipated in the stock
market. Several industries have al
ready apparently turned the corner. l.:
is satisfactory to know that general
conditions are sound. This fact is
confirmed in al wellinformed sources.
1t is particularly true in banking cir
clcs, where there is no unwholesome
expansion of credit and where our
banking institutions are in an un-
usually strong position The none
tary outlook is assuring. For some
months We are practically certain Of
ease. Easier conditions
abroad are also in prospect. owing to
trade reaction and the disposition OF
foreign bankers to limit the output of
States is concerned. more Deepen ds up
On the next harvest than uron any
other single factor. 1t is no exaggera-
ion to say that the present outlook
s unusually promising. Rarely have
he soil conditions been so good in all
'arts of the country. The winter
wheat crop is the largest in acreage
IN record: has experienced the small
st winter killing ever recorded, and is
Iltogethcr in prime condition. Condi'
ions for spring wheat are also very
favorable, and the same is true for
orn, the planting of which has COM
ncnced in Texas. Perhaps il is Il long
Dad between now and the next har-
est. but the fact of a good start Is
erS important advantage. We have
ow fairly entered spring when out
DOR work will be actively resumed
nj unemployment must decrease
borrower, spring is a perioG which al
most invariably lends itself more read
~ to encouragement than To discour'
cement.
The financial outlook for the future
hould still be regarded hopefully. w"