The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-09-27

about the outlook for volumes and
values were furnished during the week
by the better turn in our foreign rela-
lions. without going below the SUR
face to inquire into purposes, Berlin's
formal and Informal COMMUNICATION re-
duced controversial issues which have
long been n strain here TO a state OF re-
Taxed tension. On the other hand de-
velDpments in the area OF war suggested
that there might soon be occurrences
which we would have to AXE into our
calculations as favorable or otherwise.
Discerning attention was naturally at
tracted to the sudden outburst OF furi-
Gus diplomatic and military activity In
the Balkans, the implication OF which
might very well be that the allied OPP
erations against Turkey had produced n
situation ut Consta ntinople which was
desperately acute. That important
events were impending was In any case
a justifablc conclusion wen IL II did not
conclude much,
In domestic affairs the Mexican crisis
persists as an irritant. Drawbacks to
enterprise are also contained In the at
titude of organized labor toward the
conditions of employment and In the In
dications that politics Is preparing for
u Congressional session which may he
something more than stormy. AT the
same time the solid tangible facts which
have stimulated business Improvement
are becoming more and more clearly de-
fined.
Their best appears In the
foreign trade statement. which shows
that in the normally dull month OF
August imports were up to the average.
while exports were bou double the
average, yielding an export balance OF
more thai s120, 900. 900. For the
elapsed eight months OF the ear the
statement shows a trade balance of
81, 0S2. GOO, 900. the export excess for
twelve months being $685. 10000.
Railroad earnings are making crafty
ing exhibits OF substantial, gain In gross
and net. which testify to the broaden
ing tendencies OF general business,
Crops are ending a brilliant season
satisfactorily and a bright spot In the
agricultural situation Is the strength dis
played by the cotton market, which II
sustained will bring the South into line
with the business recover OF Other
sections OF tho country.
All the expansive factors and forces
have been reflected in tho broader
activity of stock market speculation and
investment. A particularly hopeful
feature OF the Wall Street week was IN,
more aggressive absorption of railroad
shares, for the maintenance OF buying ir
this department will help TO put th'
whole market structure in a sounde
and stronger position. Mention In THU
regard should also be made OF the en-
HANGED frmness of tone n price In tn,
bond market. and the immediate TREND
of all quoted values will In all prob
ability be controlled exclusively by th'
result of the foreign loan negotiations
although much may depend on develop
ments which seem likely TO come out o
the operations on the southeastern from
OF the war.
The successful swinging OF such {
huge financial undertaking rs tn
projected foreign loan would probably
generate an impetus for the promotion
OF new financing In the field of corporate
activities. for the signs OF the secur7tie;
market arc that conditions have beer
preparing which invite recourse TO tn
money market for funds for the cor
porate exploitation Of profitable oppor
~tunities in now directions This IL only
another way OF saying that the countr,
ha. now before II a prospect OF nov
enterprise and OF business expansion
which will be something more than re-
covery from extreme depression.