The Detroit times., 1916-02-07
War and Conflicting
Conditions Affect
the Movement
HOME AFFAIRS
SATISFACTORY
Upward Trend Must
Contend Against
Uncertainties

The stock market Is still labor
ing under a series OF highly conflict
ing conditions. the war Of course
affecting every momement," says
Henry Ciews. the New York finan-
cier. Peace and prosperity at home
rule quotations at one moment; AT
another war and ruin abroad con-
troll. Between the two sets OF in
fiuences no settled foundation can
be found. no reliable plans made;
the only course left being 10 take
things as they are day by day.
Home Affairs are eminentiy sat
isfactory: politics and international
relations. Were there no restraints
this country would probably be- in
the midst OF boom never equaled
In extent or intensity. Undouoted-
ly II Is good for us that some re-
straints do exist. because they will
save US from the reaction that 9th
erwise would be inevitable. We may
therefore view the future with reia-
tive confidence. assured of business
activity and prosperity. until the
somewhat distant period OF readjust-
ment arrives which must come after
the war. Since peace, and the mo
mentous changes which will follow.
are not yet in sight. we must stili
be largely affected by conditions at
home. which as just said are highly
/ favorable In contrast with those
abroad
THE building trades are expert
encing a most pronounced recovery.
and the revival of enterprise in gen
eral Is emphasized by the record OF
new incorporatpns in the eastern
| states. which amounted TO over
| 1890. 100000 In January. This was
! the largest total for a single month
/ In many years, and 300 per cent
greater than In January a year ago.
The gratifying feature OF this show
ing was that the larger proportion
OF new interpretations was purely
domestic in character and not in
connection with furnishing war sup
plies. although that was an import,
ant factor.
Accompanying these movements
there has been a general increase OF
wages in the basic industries; ad'
yances OF 10 per cent having been
often voluntarily granted. This
means a large increase Of purchas-
ing power among the masses. plenty
OF employment for labor and reia
tive avoidance OF serious labor trou
bles.
There Is one other business stim
ulant that should not be overlooked
and that r. the plethora OF loaaabls
funds. Our banks are overburdenec
with funds which they cannot pro
fitably employ. Herein lies one oI
the greatest advantages; also one
of the greatest dangers In the pres
ent situation. The greatest menacs
10 our future is imitation that maJ
leave us upon dangerous higt
level unable TO compete with Europe
after the war. Fortunately the dan
ger IL appreciated by our bankers
and capitalists, who can prevent
such a catastrophe by refusing aic
70 enterprises Of doubtful nature
"The chief uncertainty at home
outside of our foreign relations. II
the continued agitation for prepar
edness. the prospects OF new taxa
ton. the revival OF tarifY agitation
and the launching OF the presiden
tial campaign which was vigorousl,
opened this week by Mr.. Wilson.
NO cessation OF the war Is yet ir
sight. not even the exhaustion or
which the end will seemingly de
pend. The strain upon the flnancia
resources OF those involved In be
ginning to tell. Nearly all the ma
tions which formerly went to Lon
don. Paris or Berlin for funds ar'
now coming here. At the presen
time Great Britain. France, Russii
and Italy are each negotiating foi
credit or loans aggregating severa