Las Vegas optic., 1914-03-11
GLEWS PROPOSES
SETTLEMENT In
MEXICO
NEW YORK BANKER WOULD
BRING HUERTA AND cARRAN-
"A TOGETHER

and stocks are larger than q year ago,
but still considerably below the pro
portions of previous years. Neither
confidence nor business have yet fully
recovered from the snocks and reac-
tlon Of the last few years. Last week
the market was discouraged by deve-
lopments in Mexico, by the poor re-
ports Of a number OF eastern trunk
lines and BY the recent severity Of
the weather, which imposed sharp
restraint upon traffic and industrial
operations In general steel orders
were less in February than in Janu-
ary, although mills were more busily
employed on account Of the increase
in January orders Generally speak
ing, the business situation is sound
aud the outlook is for Improvement
when spring approaches The declin-
ing tendency Of money has been check
ed, and there is the possibility Of tenn
porarily firner rates as the first Of
April approaches. Bank reserves have
fallen from S4OOOO,OOO in the first
week Of February to below $27 600 900
q week ago, loans meanwhile having
steadily increased from $1,S49, 100000
December IS to $2,O5s, $4,000 week
ago. The reserves, however, will soon
be aided by the return of Canadian
funds TO this market, which will serve
to compensate for the further outflow
of gold to Paris. The western credit
situation still attracts some attention
in view Of the real estate situation
cut there, and the fact that the farm
ers are in debt more heavily than
usual although not to any embarrass-
ing extent. The crop situation is now
a matter of increased interest, and the
heavy precipitation of snow and rain
during the winter months should leave
the soil in generally good condition.
The railroad situation is still some
what embarrassing owing to declining
earnings, which emphasize the neces
sity Of the interstate commerce com
MISSION granting some concessions. Il
can hardly be expected that the full
per cent will be conceded but there il
good reason to hope for 21a to PEI
cent advance. particularly on the east
ern lines which are feeling the de
preston much more keenly than thos'
in the west. No lasting improvement
can be expected in the railroad situa
ton until this rate problem is settled
The outbreak in Brazil had more ef
feet in London than here, though this
market is sure to feel the disturbance
Indirectly
Evidence Of business torpor is found
in the monthly statements of new in
corporations in the eastern states
those Incorporated for S1,0OOOOO OF
over having amounted in February to
only $51 100000, compared with $751;.
100000 year ago. Since January /,
the total was only $171, 100000 in com
parison with $524,OOOoO0 year ago.
Allowing that the figures of a year
ago were unusually heavy. this is a
striking illustration of the shrinkage
in business initiative. The record Of
new security issues confirms this gen
eraI trend. The total issues reported
since January ] OF railroad and indus.
trial corporations was 100000, 900,
against s493. 100000 year ago. For
the month of February the total was
$176,OO0.00O as compared with $S4Ss
100000 in February Of last year, when
the returns were also exceptionally
large. Nevertheless, there has been 8
notable improvement in the bond mar
ket during the last few weeks wheI
the issues were % . desirable charac
ter; and it is nottbse that larger pro
portion Of new financing has been ac
complished with long term bonds thar
with short term notes, which have
been regarded as nothing more than {
At0hthuS uCDts A41 - ksAA ShSOuA N3Ahf
change Of symptoms.
The Mexican situation still hangs
over the market as menace and
puzzle that only time will solve. Tht
policy Of non-interyention to which
Mr.. Wilson so firmly adheres has mucf
in its favor. No one wishes to set
American blood and money wantonls
shed for the purpose Of settling quar-
rels in which we have no concern un-
less our interests are seriously jeo
pardized, stage which has not yet
been reached Much has been gained
BY the calm and friendly attitude Of
Great Britain; which plainly approves
our present policy though intent on
securing reparation for the killing Of
Benton later on; possibly when order
Is restored and claims can be legiti-
rnateiy presented and more effectively