The Detroit times., 1916-11-14
Multiplying Ent e r :
prises Respond TO
Growing Demand
MORE MARKETS
OPENED TO L. s.
Prices Moving Up, But
High Market Not
Reached


nnsncial letter says
MANY stocks again touched h,gc
records. chiefly the industrials. as a
result OF big earnings or upon The
early assumptions OF Republican
success. The reaction started by
election dlsappointments quickly eE-
hausted itself and prices again be
ran a new upward movement Tne
impression gains strength that the
high point ~ the market as a whole
has not yet been reached in other
words, war imitation IL energeticaliy
~ work and no permanent setback
can be expected until this influence
has spent It's force-s contingency
admittedly not yet in sight
Prices of commodities seem but
tressed upon one pT two incontTO-
vertible facts an abnormal de-
msnd, coupled with general scarcity.
Wheat. cotton. corn, meats. leather,
wool. rubber. steel copper, IN fact
practically all important eommodi-
ties have risen sharply since The
war. Naturally the cost os living
has Increased. and in many cases.
tho not all. wages have risen. thus
adding TO the cost Of production
There is apparently but one check
10 this upward movement. and that
IN exhaustion OF buying power. thAre
being no immediate prospect Of the
war ending and no uneasiness re-
earding the credit situation Already
economy and substitution are being
pSzcticed AZ home and in tho shop
but this. while symptomatic. is not
thus far important a. 10 its results.
"American industry continues run
ming at top speed as direct and in
direct result OF war influences The
demand for munitions is expected TO
continue. al least until spring. "
not longer our milks are endeayor-
ing 10 all the voids In foreign mar
kets; our shipyards are turning
out vessels AZ speed and profits new
or before experienced while the
country itself is now feeling the
powerful stimulus OF the big profits
Of the last two years. especially
1916.
."There Is one vital thing that is
not scarce. and that Is money, the
circulation per capita being the
largest In our history Credit is
abundant. so plentiful I'm fact that
bankers arc already taking steps 70
avert the dangers Of imitation. in
eiuding the discouragement % gold
imports. Easter conditions are also
reported abroad Money is plentiful
in London The great banks ~
England and France are increasing
their gold holdings and lumor has Il
that tho Bank OF England rate will
before long be reduced from six per
cent II Is quite evident that bellig-
erents will be compelled 20 come
again 10 New York for financial aid
alI OF which tends 70 permanently
increase The financial prestige %
the United States So long as these
influences remain AZ work. ne in
hation movement must continue,
and when war ceases there viii DO
compensation TO Offset their disa2-
pearance.
"A great industrial awakening IL
already or foot in this country. new
markets having been opened 20 us
while new industries are being ere
afed al an unprecedented rate. Tn
less all signs mislead. we have a.
ready entered now era of indus
trial progress IN which the rewards
OF industry will be more equltabiy
distributed than in the past.
This week the government CROP
report estimated the corn WELD AZ
2.s45 900 000 bushels compared with
3.054 100000 bushels year ago Of
wheat the yield is estimated Al only
s07. 900 600 bushels aeains' Toll
600, 900 bushels last year These ng
ures explain tho high cost of food
withou, regard 10 ihc aar Witch
has further lcssenel NE worlds sup
ply by reduced yields and increased
wastage The high prices ~ cotton
meats. leather. wool. copper. coal
and other necessities is almost on
tifely question Of supply