The Cairo bulletin., 1914-11-10
Woodward Hardware Go.
lois OHIO STREET

= 7
the foreign demand for war ma
/ terial, which promises TO increase
! for scms time tG come, Perhaps
| the most slgEia, ant development >
the more hopeful tope in the steel
| trade Il is tyaa that production
/ continues st low water mark, on
considerably less than "a per cent
Of capacity. aud that prices are very
| Low Nevertheless improved cOndi-
! lions have irp2rted decidedly more
optimistic tone to steel manufactur-
trs mos's CT whom appear t. be- con-
7 vsEcea that depression of the mdus-
try has reached its limit In the
textile Grades tnere has been 10
u-srlv week a feeling Of Greater
I onidence, Tas impression ia
Grown tha. values have about
tcphed bottom and that consurp-
'iou ia really at a maximum, The
xcG,en industry il much exercised
~ Interference with Its regular
supplies of WOOL under war condi.
tions, though on the other hanG
some manufacturers have succeeded
in capturing large and profitable
war contracts. In tho agricultural
sections, particularly in the wha2t
belt, there is no abatement Of the
! hopeful fe@lipE cagendcTi by large
crops The south is naturally dis
appointed a. tho low prices OF cot
on, lrr which The h.g Weld Will
only partly compensate The re-
sumption eff the export trade, hoT-
ever. plus toe efforts to finance the
crop through cooperation has irn-
rsrte,I very important relief {
! looks as If at no distant date tn"
Cotton Exchange would reopen;
another important step toward re-
/ sumrtion Of normal activities. tn
/ other respee Is general trade is not
satisfactory: 4. restricted in volume
and shows q SLOW recovery. The
public at large is economizinS, part
" owing to the large number OF
unemployed aii partly TO tire sfrSar-
ing effect of the war The fnan-
eial situation Is really considerably
brighter, and conditions are grow
| ing more favorable toward an early
reopenins of the Stock Exchange.
A have already stated III these
and other advices, this should be
accomplished on q restricted basis
and by gradual operations. Tho dan
gers Of foreign ceiling have greatly
diminished. The effects OF the war
have been largely discounted in The
roney market and the local for
cisn exchange market will soon be
upon more satisfactory basis. Tia
credit situation has been great,
improved Liquidation has been
exhaustive Values have alreal
war and have lately shown di
tinctly advancing tendency. The
is certainly STEADY Investment DE-
nand for prime securities, as vel
~ lesscnins in the pressure tc
sell euuritIes in general No doubt
| II the Exchange were opened The
week just ended wOuld have seen
pronounced recovery in value.
nut SO long as the Exchange is clos
, ed the increasing number of buyers
r has n opNprtunity. They are
practically shut cut of the market
3 which is really confined to NEEDY
sellers, and all concerned are thus
: deprived of the only true test o
: market values; the free and cpci
conhiCt Of opinion between tn
, masses OF buyers and sellers.
n Tho railroad outloos is very con
, iiicting. Gross earnings show stead,
! ! declines "a result of traffic con
Z traction. On the other hand risit
= economies hare been enforced, s,
that in many eases net earning
! are making satisfactory compa~i
sons with a year asc. 1t is question
q able however whether these extrem
= economies can be kept up over an
= lengthy period, and at the momen
Z the prospect for any material gain
: in gross earnings is not SO encour
/, aging. Tie need of some conce'
y Sions ri part of tie Interstate Coir