The Birmingham age-herald., 1915-06-02

Iionship with the foreign conflict Pub lie opinion either does not, or will not accept the present cable correspond ence with Germany as indicative of any consequential i'll effect upon trade or commerce at home and confidently pre- diets a season of relatively good times ith the harvesting of normal crops this fall.
 Mexican Situation UnimprOved
 "The recent entrance of Italy on the side of the allies, the changes just made in the English cabinet, and the possibility of Roumaniaf becoming a factor, adds more flavor to the specu- lation as to the effect the war may produce upon commercial and financial transactions. While the European crisis furnishes our nation with shift ing view of international complexities the Mexican situation remains unin proved, and presents itself as a possible duty yet to be performed by us in a manner wholly consistent with our pol icies Such conditions serve to remind US of the dependence of nations upon each other, for We have excellent pros poets, with strong underlying healthful- ness because of the policies of less waste and greater efficiency and yet we are awaiting an adjustment of foreign diff culties before executing a forward move ment toward improved conditions. The Pan American conference just closing at Washington recognizes the necessity of unity in trade and commerce and the keynote of the address of President Will son, sounded upon that occasion, hand some rivalry is a sentiment which must govern our nation in the discharge of | all of the weighty responsibilities of the present It must be through an enlight- ened selfishness if we shall make the American dollar the standard of tae worlds exchanges, of which we hear So much these days.
 While giving consideration to the mat ters of international import, we must proceed in the progress of our own af- fairs in the same broad-minded and un- selfish manner, and with even a greater intelligence where that may be done. We may expect that our operations may be retarded by the uncertainty of condi- iions abroad and yet there is req | son to apprehend any great difficulty in | finding a normal market for our pro- ducts, which must continue as the basis of our prosperity.
 Railroad earnings are reported to be more satisfactory with the natural se- quence of greater employment of labor. Mercantile and commercial failures are | fewer than for the last several weeks. Operations in the steel industry have now reached S5 per cent of capacity, with the encouragement of some orders from railways and other large patrons, and inquiries forecasting greater demand Here and there the prediction is made that the situation may be more greatly improved by the early advent of the inn plement manufacturers in the mai kets. Winter Wheat Prospects Good '"rhe prospects are very good for an- other excellent yield of winter wheat, the department of agriculture showing by re- cent bulletins that the condition ranked at fraction above 92 per cent as com pared with an average over a 1O-ye | period of S7 per cent. Spring wheat. Is also reported to be good prospect. II | is yet too early to make prediction as l to the probable yield of cotton, but the reports affecting present conditions ol | the crop are quite encouraging
 | "The financial condition of the country | continues to gain in strength, the bank l clearings showing an increase over a veal | ago, which may be partially accounted 1 for by a revival of speculation, but 8 part of it must also be due to better con-
 dition in general business. The very ia vorable trade balance of the year vii be augmented by the retention here ol | the amount that has annually been spen' | abroad by American tourists in Europe | The declaration of war by Italy VII naturally reduce American travel across | the ocean to minimum, with the re
 suit, doubtless. of better business for thu
 railroads and resorts at home.
 "The improvement of industrial cond tions in the Birmingham district ha
 kept abreast of the general tendency to
 ward betterment throughout the country 1 The pig iron market is good, with s9. " to s10 quoted for No. foundry. The Sale | of the month were not quite up to tn
 previous month but still beyond the pro duction. Stocks have continued to de
 crease, with the probability of greate
 shrinkage to follow. The Tennessee com | pany has blown in another furnace a ! Ensley, and the Sloss- Sheffield compan.
 one at Sheffield. The steel mill at Ensle!
 is operating on a larger scale than at an,
 time since last summer. and the cast irol pipe plants are running at 90 per cent o capacity The movement of steam coa is reported as somewhat greater.
 ! "-rhe formal opening of Lock IT on tn ! Warrior river during the past month wa an event which bids fair to become Q
 great significance in giving barge trans portation facilities to this district. ant
 in furnishing close at hand a large tod.
 of water for recreation purposes to 'r
 citizens.
 THE FIRST NATIONAL BANK ol
 BIRMINGHAM"
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