The Birmingham age-herald., 1914-09-22
GREAT F|NANC|ERS : FORESEE ENORMOUS IMPETUS IN TRADE George w. Perkins Thinks Nation Is On Eve of Un-
 precedented Era NEWMAN EXPECTS IT s LATE IN THE FALL Only Doubt Seems Whether Expan- sion Will Begin In Earnest Be-
 fore Peace Is Actually De-
 clared In Europe
By HOLLAND


 New York. September Especial )--In the financial district the question which is commonly put every day is this: How soon will the stock exchange open? No body is able to answer that question: be- cause no one knows, not even the gover- nors of the exchange. In the offices of the great industries and in the large mer- cantile houses and in places where busi- ness men meet, the question is constantly asked: What is the outlook for business Sometimes it is put in another form, as for instance: Is bushes going to be any better? Or, can We look confidently for a business boom sometime in the fall or early in the winter?
 The answers to these questions are often more decisive than those given in reply to the inquiry, When will the stock exchange open? There are two views which are radically different Some or the business men are inclined to think that we are on the eve of the greatest outburst of business and industrial ac- tivity We have ever known. Others, and particularly some who are managers of the great industrial corporations, confess that they see not the slightest reason for expecting that there will be any inn provement in business worth speaking of until after the close of the European war.
 William H. Newman, formerly president of the New York Central railroad corpor- ation and now directing one of its most important departments, is reported by his friends to have said a day or two ago +l,a+ f,lc cf11 of ha tion and some glimpses into the future which show him what the demands on American agriculture and industry are to be, his conviction is now strong that busi- ness will for the next two or three months follow the example of finance-it will mark tirne Late in the fall or early in the winter, MT. Newman looks for a some what sudden revival of American indus try in all it's branches and the beginning of an era of activity which as long as it lasts will be without precedent in our own commercial and industrial history, both relatively and absolutely.
 MT. Newman's view is shared by George w. Perkins, who has opportunity for close scrutiny of business conditions through his important association with the United States Steel corporation and the International Harvester company. MT. Perkins is persuaded, as MT. Newman is, that we are on. the eve of an indus trial and commercial era such as the United States has never known. He thinks that ve are likely to see the first symptoms of this improvement some time in the mid fall passing his view on the probability that the banks and the leading men of finance will have then suf- ficiently unraveled the international money market tangle.
 These are views of two men of large affairs, one in railway management and the other in the conduct of great indus trial corporations. John Wanamaker wac reported a day or two ago to hold like views, although he spoke as merchant MT. Wanamaker's reasoning, however. is similar to that which has persuaded MT. Newman and MT. Perkins to speak ill con