Daily capital journal. (Salem, Oregon) 1903-1919, 1915-07-16
BUSINESS AND FINANCIAL SITUATION

nr,,y Commercial Review Of the past week sums up
,b bnsinees and financial situation Of the country as
follows: ...,.l.t ,ti. noriod
ban nventorvnp and the advance OF the Facato Sc"'
tend 10 produce quieness in various mefc&Hl'e inea
a significant Of the economic changes fe'uUB u vi" Wv
mar however that industrial conditions do not renee
~ sral mid wear u and all indications point TO luly
sustained activity throughout the summer months u"
stead OF showing the customary abatement lIulNII'"
oneratons steadily eXpend and each week thele Is
fnyther reduction in the percentage OIL ule machinery
and In the number Of unemployed lhS s Iuos' t'
co,apinp feature inasmuch the retail demand Tor a
kinds of staple merchandise ls stimulated ~ more wage
earners find work and payroIs increase Since Ihe llo
and steel trade s considered one OF the best baomeeIS
of the general situation it is gratifying that production
Al the mills and furnaces rapidly rising close To lhe
noint Of capacity the output OF pig IRON last mohlh oeP
AZ the rate Of 29j0OOOO tons year. against ony loVU
600 tons on January l. More plants are constantly beng
added to the active list and the urgent foreign require
ments cause gradual strengthening of prices that rs
more 10 be desired than sudden and rapid advances S'
where conditions do not reflect the same degree ol nm,
movement and while there is promise Of au early adj
usment of the labor troubles in building lines at Chicago
new construction is disappointing in volume The textile
mills however are well engaged and producers of foot
wear are encouraged by the prospect Of liberal contract,
FOR the ia and winter season There is strong under
tome n the wool market and manufacturers are buying
more freely ot the new domestic grades receipts Of which
are increasing Broadly considered the business situa
ton maintains s previous gains and confidence appears
10 he fully restored with a conservatism manifest that
augurs well for sustained progress Some sections max,
more satisfactory returns than others but the net result
an enlarged volume OF transactions IN the aggrrgat,
and future needs are anticipated with greater Freedom
Both bank cearings and railroad earnings make better
comparisons with the records of former years and as
whole the statistical mdcts are more uniformly favor
able than IN the recent past The remarkable exhibits o
foreign commerce continue but thc agricultural outooI
Is less brilliant than heretofore although the Government
report indicates that abundant crops of the leading grain
will he harvested
II further proof were needed Of the marked revival Fl
iron and steel U Is found In the statistics of pip uor
production tor june These figures show the arers
monthly output since October l9l} and ht daily ayprap
was tii6 toms greater than iu May or this year Most
tht increase was contributed by hr steel works furnace
ana thcfe was met gain of l2 n ,ho number of furnace
in blast according to tht lrun Age ALTHOUGH nn ru
poratt transactions are noted holders gs n ru', g.
htmrr n thtr views and 700 some instances ur.ruus uun
Wuuts nave been withdrawn AS tu finished lines. r,rnI.
gclNN e MOI only maintained hUj there is prosp,tt Or
further expansion during tht summer month. as mil
operations steadily huJdyu Many plants I'm thr pu.
b9iFR district ar running practically ut capgeIN am.
Ni''A aiF now revolving that had been idlt ION lon.
une past In tht matter of prices some fr,pua,t, p.
Null apparent especially in plates and ,hgp,s M-t 'h
general tendency continues upward and mgruf.r..,.r
are SoNhdenI OF sustaining values at th. advanced l.ya
meta1 sensational reports OF tron dpfrriorlt,.r +,
Vt southwest were hy no means wholly confr,,.l I tL
oh'"' nlutnS and it Us gratifying CHAT hu,. .,H
'O"'a' 'l yomeMtd Whea, harvest boz excess of M
' ',N"'"r Mof'oN,r Iht estimated aua p'ant..
y Vgln S0pdScs expectations and tends to offs.t 1I
e9huuon hguvS although thg indicated ,f.ll b. ., ".
Nhll Ohuet ihaI OF last year