Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-05-31
BUSINESS OVER j, s.
SHOWS HES|TANCY
Reports From Trade Centers
Epitomize General
Conditions.
EVENTS OF NEAR FUTURE
TO INFLUENCE SITUATION
Freight Rate Decision, Adjournment
of Congress and Harvests
Potent Factors.
BY w. S. COUSINS.

NEW YORK. May 3o-Reports from
special correspondents in the trade CEN
ters lead to the following epitomization
of business conditions in the United
States:
New England states-In the important
matters of bank clearings, railroad earn
ings. shoe and cotton manufacturing, this
section shows no improvement and senti-
ment is in the main moderately pessi-
mistic
Eastern states-Though money contin-
ues in good supply and loaning rates are
in favor of the borrower there is a
marked decrease In the demand for funds
for commercial purposes. Business has
for many months been conducted on a
hand-to-mouth basis. and it seems diff
ficult, if not quite impossible, to shake
off the spirit of hesitancy that pervades
the business atmosphere.
Business Dull in South. .-ri>7
Southern states-Business has been dull
throughout the southern territory. though
sentiment has not been proportionately
affected. 1t is believed that the present
business depression is but ephemeral and
/
causes Improved weather conditions
| throughout the rain-soaked southwest
during the several days prior to May -
have renewed optimism which had begun
to ebb somewhat because of the super
abundance of moisture. As it is. con-
siderable damage has been done to the
cotton and corn crops-the former nearly
a month late in the planting, and much of
the latter completely lost. However. the
clear weather which has now set in is
ideal for the mammoth wheat and oat
crops which will he absolutely assured
should the present conditions continue
for two weeks longer
Western states-There has been no
improvement in the demand for loans,
and deposits at the banks and trust
companies are increasing Mercantile
interests do not feel the necessity of
increasing their borrowings in any
way, owing to the comparative uncer-
| tainty as to the future, as purchases
by the retail trade are in more mod
crate quantities and at more frequent
intervals. The condition of the finan-
cial and business community in this
section appears to be one of lack of
confidence, and while there is nothing in
light on which to expect anything in
the way of relieving the situation at
present at least. there is likewise a
feeling that underlying factors are
strong and there is nothing to cause
any great apprehension.
Money Easy on Coast.
Pacific states-Though crop prospects
are excellent. business conditions in the
Pacific northwest have not materially
changed since April I. Fruit con-
ditions are not as favorable as they
were a month ago, due to damage by
cold weather. rain and frost. The lum-
Der trade is not active. but the tone
has improved and prices are firm. The
salmon catch promises we'll Money is
easy and the demands for manufactur-
ing and merchandising are weak.
Events of the next six weeks should,
and doubtless will, have an important
bearing on the general business situa-
ton. Within a few weeks the deci-
sion of the interstate commerce COM
mission in the famous railroad freight
rate case will be announced. Prob
ably upon no single event has the fu-
ture course of the railroads and their
allied industries ever depended as it
does at the present time upon this mo-
mentous decision.
In almost six weeks at the most it is
expected that Congress will adjourn. and
with 1t the possibility of further legis-
lative attacks on business. for this ses-
sion at least. The country will be able
to indulge in a prolonged sigh of relief
when the last politician has packed his
grip and made his exodus from the cap
ital Not until then will the business in
terests feel that they can conduct their
affairs without molestation from political
meddlers.
Harvests Soon Begin.
Then. again. the harvesting of the
bumper winter wheat crop will soon be-
gin. and thus the promises of the soil
will be converted into cash. In some sec
lions this harvesting is already under
way. and it is reported that the imple
ment trades are exceedingly busy in fill
ing their orders for harvesters and
thrashers and machinery of this sort
These, then, the railroad freight-rate
decision, the adjournment of Congress
and the gathering in Of our bumper har-
vests. are the three great factors which
will exert such a potent influence on
finance and business.
According to prominent leaders of the
steel trade industry. who met in con-
ference. in this city last week the dawn
will come in midsuhmer Or early fall