The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1914-02-16
GRADUAL INCREASE IN
TRADE NOTED BY CLEWS
THIS is ESPECIALLY TRUE IN
BOTH THE COPPER AND
STEEL BUSINESS.

Gradually and slowly trade is in
creasing in volume says Henry Clews
| This is quite true i'm the steel trade in
| which the untitled orders in January
! increased 33l 900 tons. The steel trade
| is as yet by no means in an entirely
satisfactory condition, thc volume of
business being still much below normal
and prices low. Nevertheless, the ten
dcncS is distinctly towards further i'm
provcment Another indication If bet
| terment was a reduction of 1000, 900
pounds in the domestic stocks of cop
per during January. The monthly
idle-car statement also showed de-
crease OF 300 cars i'm January. Rail-
road purchases have been curtailed 70"
months past, and it is probable that
their orders during the year or two of
rolling stock and rails have fallen be-
low the actual loss through ordinary
wear and tear Sheer necessity will
soon compel larger purchases by rail
road managers The latter continue
embarrassed by inability To secure bet
ter rates and by the difficulties of
raising money; though some relief has
been afforded by the recent fall i'm in
tercst rates, which made il easier -
refund or extend maturing obligations.
The question of meeting the great mass
of short term notes is now much less
serious than at one time feared, thanks
to better conditions i'm the money mar
Ret. New issues are now being offered
wit; more conidcfce and seem to he
promptly absorbed. Large amounts Of
high grade bonds and stocks have been
taken by investors and financial in
stitutions since the first Of the year. "A
condition which materially aids the
marketing of desirable new issues IF
which a number still are pending.
Flood Of New Issues.
There is every probability that in
vestors will have an ample selection. #
new hotations from which tn choose
during the coming months. In Europe
the food Of new issues has been ex
ccssive, but it is encouraging to note
that most q them have been wcll
taken The Belgian loan for $4,000, |
'bV WIS "a NbiIlllflt SNiNfSSs ~ N''s !
was Chinese loan a Greek loan, Il
loan and u South African
government loan are all i'm immediate,
prospect. The marked rise in British
cOnsOs Is emphatic proof of better CON
1itions i'm London, although the expect r
ed further reduction of the Bank of
England rate is likely To he postponed.
The financial situation i'm Paris has
much improved. The German hank
situation is also satisfactory, and the
London settlement went off without
trouble in spite of the unsettlemeu5
caused by the opening OF Parliament
md the strain Of the Ulster situation.
The extreme ease in money in this
market appears to have reached It's
At the west there is 2
firmer tendency, although no
return To "a much higher rate is antici-
pated. The commercial paper market
which has been active for some time
past shows signs of quoting down.
Foreign exchange continues weak, bat
further gold exports to Paris wcrc
recorded, making the total since the
middle of January about $l00OOO00.
NJ things considered the money sltua-
Ton " as satisfactory as could be OK [,
'crted. the last national bank call
showing that these institutions held
'a2.gbn. 900 more cash chan at the pre-
'i"ia cal i'm October. while loans
'htWed a contraction of $4,000, 900. \ :
'ehr ago the national banks reported /