South Bend news-times. (South Bend, Ind.) 1913-1938, 1916-07-10
STOCK MARKET
OUTLOOK BETTER
Recent Drift of Events Inter-
nationally More Favor
able Says CIeWS.
BY Henry Clcws.
News Times Special Service

a more peaceful aspect. and there is
good reason for anticipating sat
isfactOry solution OF this problem
by means Of mediation. instead of
war Hitches and setbacks may de-
velop. but one thing is certain. this
country does not want war with
Mexico: and. once the Mexicans APP
preciate the sincerity OF our decla-
ration that we have no lust for con-
quest OF Mexican territory. the way
10 permanent peace between Mexico
and ourselves should be firmly es-
tablished. If our government can
aid in restoring order on a basis sat
isfactory 20 the unhappy people Of
Mexico. so much the better. An
archy. misery. starvation and pow
erty rule our southern neighbor
with cruel hand at present; and,
for such conditions. peace and
friendship ought To cure much more
egectively than war and hatred.
Central Powers Pressed.
In Europe the great conflict has
broken out with greater violence
than ever. At last the allies have
initiated their universal drive: the
central powers are being sorely
pressed in every direction, and Il
may be the beginning OF the end. 1t
is now almost two years since the
war began. IL seems impossible for
the struggle to last another year,
and millions ON both sides are hop
ing for peace within another six
months Certainly the war is ~ o.
thirds over. and let us hope three
fourths. In bitterness and intensity
it will grow toward the end, but
the world at large is already pre-
pairing for resumption Of peaceful
activities The doings of the
economic conference at Paris in this
connection were of much signifi-
canoe. and an agreement between the
allies TO form a number Of cooper
ative plans for restoration Of their
commerce and industry after the
war is not surprising. These agree
ments are. of course, intended TO
hamper the central powers. IL is
satisfactory TO note. however. that
no general boycott is to be declared
sheer folly and if carried too far
would surely lay the basis for
another war as soon as Germ any
sufficiently recovered Moreover, if
Germany can produce any products
cheaper and better than other ma
tions. refusal Of the entente powers
To buy them would inflict self injury
and build mp the trade of the other
nations at the expense of the allies.
Furthermore, all OF the allies VIII
be only too glad to sell To Ger
many: an hnpOssibility unless they
also stand ready TO buy. Commerce
has an irresistible habit Of leapins
over political barriers whenever
transactions yield a mutual profit
and is always a powerful peace
maker. causing war only when throt-
tied or fettered to death.
Home Conditions Encouraging.
Home conditions are generally en-
cOuraging. Our agricultural output
does not promise TO be quite as
bountiful as last year: but good
prices are practically certain. and
there is no abatement Of prosperity
in sight fer the American farmer,
who has now enjoyed an unusually
long period of good fortune. The
CRY of back 10 the farm" was never
more justified than now; and the
small margin between production
and consumption i'm all the inter-
national markets. together with the
high prices for all farm products.
affords a stimulating prospect for
the agriculturist Regardless of the
war. the worlds production. es-
pecially OF animal products, is often
below consumption our industrial
activity is still running at top speed
The steel trade is positively suffer
ing from Over-consumption. Pro-
ducuon is operated at the limit;
vet there is no cessation in the pres
sure Of orders; no signs of weakness
in prices. and steel mills would well
come "a respite from the urgent de-
mands of consumers. Some NUM-
ton factories are shutting down:
others. of course. are busy: the rate
at which ammunition is now beine
consumed at the front stimulating
expectations Of fresh orders. The
textile trade. especially in New Eng
land is fairly active and i'm good
condition: the better prices recently
obtained for most fabrics resulting
/ i'm increased dividends on some mill
| shares and resumption on others
/ The boot and shoe Industry also con-
have had wonderful season: home
trade having exceeded all eNpecta-
tions. while the export trade on wal
{ account has been simply phenome-
nal.
Financial conditions i'm the United
States are particularly satisfactory
our banks are prosperous and
strong, while our enormous gold
supply and the new federal reserve
hanks have impaired a nexpansive.
ness 90 our currency that has much
TO do with present activity. Ma
tional bank loans are about SIO0.
coo. 600 in excess of a year AGO. while
bank clearings IN June were rs peI
cent ahead Of last year. and as pei
cent more than in 1914 There is
doubtless much imitation in present
values. and the growth OF trade lr
this country, domestic and foreign
when measured in quantities as II
should be is much smaller thar
when measured i'm values. Political
conditions az home are EXCEPTIONAL,