Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1914-03-03
war SITUATION
HAS DEPRESSED
EASTERN MARlS
Trouble 10 Mexics Has Had
Tendency to Support.
-. Waiting Policy 80 49,;
Henry CIeWs Approves Policy
Of Nom Intervention by
Ualted States
RN Henry -CleWS.

BY Henry CIews.
New York. March 2.--Reactionary
tendencies were prolonged through
another week. The Mexican situation
appears to have been the depressing
factor. Loyalty to the government
has very properly supported the poll
cy OF "watchful waiting" But the
Benton incident has caused much sur
ressed feeling at home as well as in
Great Britain, and the i]nsistence OF
both the British government and ON
own upon having the real facts has
produced a state of high tension in
public sentiment and much danger
especially should any further events
of an untoward character occur in
Mexico. A. spark might easily start
an Outburst either in congress or in
parliament. Another n%nfavOrabla
feature, was the weakness of foreign
markets and the consequent selling of
American securities. Paris was tenn
pOrarily the center of weakness, and
there have been humOrs of important
difficulties in banking. circles at that
point as a result of having too large
a portion of their funds tied up in
fixed form. Late" advices brought
Information that the difficulties in
question had been tided over. Lon
don reflected this weakness by show
ing firmer discounts, and appears to
be somewhat incOnvenienced by. ex.
cessive flotations since the opening of
the current year. At home the sit.
uation has also been slightly less "a
vOra'ble. Current railroad earnings
are anything but satisfactory, several
important systems having made poor
reports net and gross, for the month
of January. The returns for Febru-
ay are also likely to pove poor be-
u of the severity of the winter.
On the Pacific coast the large rail-
road companies have suffered severe.
ly from excessive floods; while in
other parts of the country the heavy
snowfall has interrupted traffic, and
excessive low temperatures checked
outside wort and caused a genera,
slackening down of industry. Several
important Industrial concerns have
also made poor reports recently. It
Is worthy Of note also that several OF
the great agricultural implement cor
poratiOns have been embarrassed lby
the difficulty of financing the mass Of
agricultural. notes which these con.
Germs customarily accept in payment
from farmers. Farmers notes are
usually considered good security, but
the large orders recently placed for
new machinery imposed an exception.
al strain on the implement makers,
which was shown by a recent loan of
$12, 100000 to a single important con.
Germ to aid in financing these notes.
AS for general business, quietness
prevails, especially in the eastern CT
ties, where the volume of business is
below that OF a year ago. The clear
ing house returns for the second week
of February were s per cent less than
the same in 1918. Nevertheless,
there is a brighter side to the situa.
ton in the United States, and the
more distant outlook is distinctly en-
c~curageaging. In commercial circles
sentiment is generally optimistic,
particularly west Of the Alleghanies.
The winter wheat crop is in excep.
tionally promising condition, and the
heavy snowfall and rains all over the
country promise to leave the soil in
good condition for spring sowing. |
So, too, the heavy floods o n the Paci.
fic coast will result later on in better
crops. The textile trades are in fen.
orally satisfactory condition, the de-
'nand being fair and prices showing
: firmer tendency. especially in WOOL
ems. One Of the largest western dry
goods jobbing houses is exceedingly
enthusiastic AMI reports business as
very active, conditions sound and the
outlook favoring a large spring trade
throughout the agricultural and eat
tle-rising districts" In the steel
trade conditions are growing more Ell.
couraging, orders for structural work
having materially increased this
month, and prices being better main.
tanned. Since the year began there
a zen a steady Improvement IN the
building outlook, a significant change
being the increase in orders for
building new Industrial plants and
extensions. Railroad purchasers, of
course, continue limited owing to
restrictions upon the financial abili.
ties of the companies, which cannot
place orders with any freedom until
the outcome of the rate question is
more definitely a%scertained.
The local money market has been
slightly firmer, the period Of excess
sively cheap money having apparent
ly ended for the time being; but high
rates need not be expected until the
autumn demands begin. An %unfavor.
able bank statement would cause no
surprise this week, inasmuch as the
banks. have lost by treasury opera
tons and by the shipping of $4,000, 900
gold to Paris. An encouraging fea-
ture is the restraint which has been
put upon new flotations in this mar
ket. The February total promises to
run considerably below last years to.
tai; and the output since Januar / is
already more than 5000, 000, 1000 be-
-r ~ 49, F..