Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-05-24
Buoyant Market for Steel.

Buoyant Market for Steel.
The result was a buoyant market for
the steel shares. with prices well in adj
vance of last weeks quotations There
has thus been a disposition to look for
more favorable situation as regards
the stock market, and should the course
or future events prove true to present
indications. there will be every reason
for qualification in SO far as the security
market is concerned
1t is not only In the stock market that
such hopeful signs are in evidence. Re-
ports from the steel trade tell OF con-
siderable improvement in that quarter.
that is SURPRISING the actual change in
conditions. And from the field of gen.
era1 trade, too, come repeated evidences
of the favorable effect which is being
exerted by the high promise for this
years corps.
A feeling Of increased confidence is
thus making its way which loses none OF
its significance merely because current
records reflect the conditions upon which
past unfavorable sentiment was based
rather than those which would seem to
justify the present more hopeful outlook.
Such change in sentiment is itself i'm
portant because confidence is essential
to business prosperity. and any increase
in confidence is itself the harbinger Of
better things in business at large.
Crop Damage Influences.
Apart from the transitory fluctuations
in the daily quotations Of grains and
other products of the soil. the recent re-
ports of crop damage have not exert
ed any distressing influence upon the
business situation. These reports appear
somewhat belated this year. and hence
are not taken seriously in every quarter.
When we consider that many millions
of acres are planted to wheat it is quite
probable that even severe damage can
take place without appreciably anecting
the general result. Large sections OF the
winter wheat area are very much above
the average, and will more than compen-
safe for damage in other sections.
The New York Commercial reports that
the revised returns from its correspond
ents in the cotton belt indicate an In
crease of SO per cent in acreage compared
with last year, against an Increase OF ~
published March II. These later returns
bring the acreage total up to 3S.72O,OOO.
Only North Carolina shows an actual
decrease in planted area. Preliminary es-
Inmates were a trifle too low in the case
of South Carolina. Georgia, Mississippi
and Texas The returns from the other
states Of the belt do not warrant any in
crease over preliminary figures.
Broadly speaking the crop outlook Is
good. Texas alone has made a bad start
and even there 1t Is possible to repair
much If not all OF the damage done by
excessive spring rains and floods. Other
western states are late; but otherwise
have no serious complaint me centra.
belt is on time, generally, and parts OF
the eastern belt actually are ahead OF
time, notably Alabama and districts of
Georgia Further north in the Atlantic
division normal progress is being made.
Politics VS. Business,
The following criticism of current con-
ditions by the Wall Street Journal Of New
York approaches SO nearly that which ap-
peared in this review May 9 that we take
the liberty of quoting. in part
There are conditions which should tend
to improve If our politicians can only be
persuaded to give the business of the
country a fair chance to recover itself
Partly because it is typical Of the politi-
clans desire to NEEDLE with everybody
else's business, an illustration from the
Mexican situation will make the principle
sufficiently clear. We are now told that
it is our duty to occupy Mexico, not to
vindicate an anront. or to secure redress
for our outraged citizens alone, but in
order to establish an extensive and COM
pltcated system of land ownership by the
poems.
'.It should be said that It Is no more our
right or our duty to do this than 1t Is for
Canada to step into the United States and
do as much for our southern negroes
That. in fact, represents just the terri
torial expansion which Mr.. Wilson has
disclaimed. Countries maintain the peace
of the world by refraining from interfer-
ence with each others internal affairs. If
Austria is to occupy Italy because 1t con-
siders the way the Italian eats spaghetti
looks difficult and ought to be impossible,
a condition would soon be introduced in
Europe corresponding to the Napoleonic
campaigns Of century ago. One OF our
difficulties and dangers is that our raw
amateurs at Washington do not UNDER
stand these vital principles of interna-
tional comfy"
life Policy Loans