The daily Alaskan., 1916-10-04
EDITORIAL
CLEW'S REPORT

The financial markets presented evidence during the earlier days o the week of a tendency On the part Of some Of the large interests to lake profits that had accrued as tn result Of the recent sustained rise iu .ue Stock Exchange price level. selling of this character, unuaturally, served as a temporary cheek upon the enthusiasm and strength that so distinctly were the features of the preceding week. But definite weakness, however, did not develop. Neither was there a cor responding reaction in the volume Of bISinesSs. The market seemed, for the moment, to have lost it's SDarFle and declined moderately, 9 change suggestive of . necessary re adjustm7nt that did not essentially alter more distant prospects. That such q view was justified was iRdi- cated by the sharp and general ad- vauccs that subsequently, took place
 Fundamental conditions have not change7. Our national activities are experiencing the stimulus of admit:4J imitation. Gold that is not needed is coming forward in s eady stream in partial payment for the products of American fac tories. These gre being manutac- turll at such favorable prices that "ay leave large profits, not alone in the hands Of the manufacturers but in those of labor and of all in terests connected with them from the point of production to that of final delivery abroad. including land and sea transportation, insur- ahcc and other charges.
 Thus money s circulating free freely and is available for luxuries and necessities at home, in this wa becoming responsible for a dCr estic demand of a magnitude quite in keeping with that from for e'sn sources. Eventually g. severe cheek must come 10 this nationwide imitation. When it will occur must D. governed very largely by the duration of the war and the con- ditious that will confront the world at large after the present stupen- dOus massacre ends. At the mo- meut, unfortunately, there is but slight encouragement for any eEpee tation that peace is in sight. In turn this suggests an absence Of in ducement to believe that the in flGyonary movement to which have just referred is eliminating. More likely will it proceed still further and in the long run include to a more general extent than at present securities as well as com modities in it's influence The iron and steel industry never has been so active. A local trade in dustry never has been so active. A local trade authority, reviewing steel trade conditions, declares
 at the drift not only is toward higher prices but toward greater difficulties in delivery.
 The situation, it adds, is that Eu-cpe will take whatever amount e steel American mills will agree 70 deliver when wanted, and that domestic buyers are providing for their wants in the first half of 1917 at prices they were unwilling 'o consider two months ago. Con- sumtrs are acting on the more definite signs that with the war pro longet into 1917 the steel mills of the country will continue to have to choose between buyers. Trade authorities as a whole seem to agree with this view. An almost identical position seems to apply to copper and, in fact, to nearly all Of the various divisions of the E-s~--~s-SS- y>S.--s->s----s----- .''>''~S-'