The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1914-11-02

aging features in the American bust
ness situation, which in ether re-
spects is still very unsatisfactory
and passing through critical period.
1t is not desirable to dwell too strong
ly upon the dlscouraging side OF af.
fairs, yet it would be dangerously
foolish to ignore the many unsatis-
factory conditions. Bank clearings
are still running Is per cent below a
year ago, the decrease being greatly |
emphasized by suspension OF the vari.
Gus stock and commodity exchanges.
Railroad earnings are unsatisfactory, |
those reported for the month of Sep
TENDER showing a loss Of Z per cent, |
while for the first two weeks Of Oc-
tober the losses have been from II
to Is per cent. Building operations
are running about one-third below
last year. Dividends have been cut
or passed by an unusually large num-
Der of industrials. The railroads, it
may be noted with satisfaction, have
maintained their regular payments
remarkably we'll. There has been
further increase in, the number of
idle cars, and also in business failures.
The steel trade is now running less
than SO per cent of Its capacity and
prices continue weak. The textile in
dustries were much deranged by the
war and the fall in cotton, but are
now showing greater steadiness and
activity. Such facts as these are al
ready too familiar. They chiefly re-
fleet the shock of the European war
upon the United States. Fortunately,
there is good reason to believe that
the worst effects of that shock are
already over. There is every encour-
agement for believing that the re-
bound has fairly begun. Recovery is
already in sight. That our financial
resources have been successfully
placed on war basis, and that the
mobilization In this respect Is almost
complete, are demonstrated by the
facts cited in the first paragraph Of
this review. We must not forget that
this country will be affected less by
the war than any other. We have
this year been blessed with bounti-
full harvest, including the largest
wheat crop on record for which we
shall find good foreign demand at
profitable prices. Throughout the
wheat belt, prosperity is everywhere
in evidence, in spite OF the war. Opt
mism reigns supreme there. The
south, moreover, has now less to fear
from the effects OF that catastrophe.
Several million more bales Of cotton
have been raised than can be con-
sumed, but it is quite likely that the
foreign takings of cotton will prove
considerably larger than at one time
expected.
AS for the war. its effects upon the
worlds commerce and finances are
serious enough. Yet the blow has
been met in all countries with greater
fortitude and success than could pos
sibly have been anticipated. As yet.
there are no signs of an approaching
end, and the conviction grows that
the struggle will be long and ex-
hausting one. What the effects Of a
long contest through a disheartening
winter will be upon the temper OF
the combatants, remains to be seen.
1t should give opportunity for a re-
turn to reason on all sides. II con-
tinued indefinitely grave economic
crisis will be unavoidable. The A.
nancial and industrial exhaustion will
be more complete to all concerned;
and it would seem that IL passion
could be laid aside, better terms could
be obtained on all sides by an easy
truce and resort to diplomacy and
arbitration for adjustment than by
continuing this awful carnage. JUS
tice, and not force, will lead to the
right.
Congress is now adjourned and the
country is assured of rest from legis-
lat1ve agitation for some, time to
come The election promises to be a
quiet one, and no changes are antici-
pated that will be disturbing to bust
ness. The efforts of the railroads to
secure the advance in rates from the
interstate commerce commission, &C
cording to all accounts, do not prom
Use very successfully. There are no
signs in the committee of a willing
ness to make concessions to the rail-
roads. II this should be true, an i'm
portant factor Of encouragement will
disappear There has been an In.
portant factor Of encouragement in in
creased movement in investments OF
the better class. Prices are exceeding
ly low and there is no lack Of bar
gains to be obtained by buyers with
ready money. Were the local ex-
change opened and values fairly test
ed by the conflict of opinion between
buyers and sellers there would likely
be considerable investment buying.
Well selected investments should
bring good profits at no very distant
period. Strong efforts are being made
for re-opening OF the stock ex-
change, but much depends upon the
,tic,r, Of Inndoa 11,hara covnral rla NJ