Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-30


ket prices for staple products are none the
less distinctly noticeable.
In Seattle the lumber trade is badly out Of
joint, and, while many mills are operating
the volume is much reduced and little export
business is being done. However, great ac-
tivity is reported in fisheries, and those en-
gagged in raising cattle and sheep are expe-
riencing quite satisfactory conditions. The
manager Of the largest department store in
Seattle told me that his sales, all Of which
are for cash, were well ahead Of last years
totals. While there is a lull in the great con.
struction work. both public and private,
which usually goes on, people have by no
means lost courage, and We heard no gloomy
views as to the future. The opportunities
and possibilities of Alaska are realized only
when one consults the practical men who are
cooperating in its development.
On the Coast
Further down the coast the low prices for
agricultural products such as fruits and veg
etables reflected decreased purchasing power
and the cessation of exports. Orange grow
ers are suffering by the complete closing of
German and Austrian markets In San
Francisco and Los Angeles the bankers
complained of the same plethora of money
from which we are suffering in Philadelphia.
All along the coast there is the most in
tense criticism of the La Toilette seaman's
BILL which has taken the American flag oft
the Pacific Ocean and transferred to the dis
liked japanese the power of carrying
fusing to carry American products to those
in foreign lands who wish to buy them. This
matter is viewed with the utmost serious
ness, and, with the tariff changes by which
Canadian lumber is admitted, will play
large part i'm national politics in the States
along the coast.
AS few tourists are going to Europe this
year and the San Francisco Fair attracts
many OF them, more Eastern people have
visited the coast this year than ever before
This has brought a good deal of money into
that section, and. what Is much more i'm
portant has educated our own countrymen
TO the conditions and possibilities of that
most interesting region, and has afforded
them delightful experiences in genuine
Western hospitality
The Trend Toward Prosperity
In New Mexico we had our first reports of
entirely satisfactory conditions Last win
ter's SHOWS, combined with a satisfactory dis
tributon of rainfall, enabled the herders and
cattlemen to produce an unusually large
yield, and, having obtained exceptionally
good prices for wool, hides, cattle and horses,
the section a whole is exceedingly pros
porous
In Kansas City there has been decided
revival of trade, and the banks are expert
encing a normal demand for loans, though
rates are still much too low But here, as
elsewhere, there was considerable comment
upon the slow grain movement. Wheat
growers expect high prices, while the millers
are unwilling to buy, anticipating a sub
stantial decline, and ofttmes objecting to
the condition of wheat. AS is usual with
other farmers, the wheat growers quickly
adjusted themselves to the recent abnormally
high prices and regard those now prevailing
as inadequate We heard this view expressed
by bankers from many of the wheat grow
ing States, and 1t was commented upon even
more than the size of the record crop.
The St. Louis bankers told us that condi-
tions both industrial and commercial, were
steadily improving, and that their great
Southwest territory had been greatly re-
lieved by the advance in cotton. It is now
generally recognized that cotton occupies an
extremely strong position, considering the
sharply reduced acreage, the smaller yield,
the lower cost of production and the easy
financial position OF the entire country. These
elements appear to offset any reduction in
foreign consumption. and the dry goods trade
has already felt the stimulus of increased
prices OF raw material.
Effects of Allies Loan
At many points the Anglo French loan was
seriously discussed; especially in San Fran
cisco the leading bankers realize that the
successful distribution of this loan is most
vital toward sustaining the normal move
ment Of this country's important agricultural
products Broad-minded bankers expressed
the willingness to support such a loan for
such purposes were IL offered either by Ger
many or Great Britain. A prominent Ger
man banker, while feeling that the loan
would be unpopular, expressed the opinion
that any one doubling the soundness of a
loan guaranteed by Great Britain would only
reveal his Ignorance. as there was still no
better Government security than a British
Consol
Upon those who are well informed regard
ing the economic effects OF this loan upon our
domestic commerce there rests the response
bhnty OF Informing bankers. investors and
the people generally OF the actual Influences
and effects involved in the transaction. for at
the present time there are many aspects Of
the matter which have not been fairly and
thoroughly considered