Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-08-20
HOW Is BUSINESS?

After learning the progress Of the nations de-
tenders at the front and in preparation for the
front. business has the first attention. How
business" is the second thought.
If we NAV take as q criterion the condition at the
time of the latest received report Of Bradstreets,
it appears that the business Of the country holds
steady and is improving. Secretary McAdoo prom
sed widespread prosperity when the billions of the
great liberty loan bonds were let loose. The pros
perity has begun even before the loan money came
into full action. The prospect of good crops sup
plies the fundamental strength of the situation.
"a shifting or readjuSting process born of war
conditions tends to repress operations in some
channels" says Bradstreot's, "while at the same
time stimulating a wide range Of war lines to great
er animation.
yet wharf may he termed regular distributIve
business is large, and though it is conceded that
there is not the snap to buying that was so remark
able six months ago, faith in the future OF trade is
only tempered by concern over governmental reg
ulation of prices or by present uncertainty as to
the full effects of establishments now making. How
far these rpadjustRents will GO and what lines will
I've most rcprcSsrd while expansion grows in the in
dustries that are essential to warfare. is the lead
ing question.
However, the main developments of the week
are favorable, notwithstanding that the larger
lines evince seasonal quiet. Warm weather and
July clearance sales have stimulated retail trade
. which in turn has made for some recorders, and
industry is active ever, being only held back by
shortage Df labor materials.
"IncidentaIly, crop conditions more favor
able than at any previous time this season. soil pro-
ducts are lower in price, speculative operations in
foodstuffs as we'll as in financial markets are re-
pressed, the railways aided by waterway naviga
ton are doing better, the shortage is less
acute in the country districts merchants seem dis
posed to buy for all shipment, and maiorder houses
are doing we'll. Withal the season has been excep-
tionay backward for retail trade, and besides hit
ting summer goods, the economy campaign also
struck at uxuries and fancy articles we'll as fur
niture and while some distributors report an ex-
ceptionalv good turnover the first half of the year.
there are numerous reports of retail dealers asking
that shipments of textiles be deferred until later
date This attitGde is dictated by the desire to
work off stocks and to let selling agents carry the
goods for the time being.
"The labor shortage is more acute, and strikes
are numerous, with the copper mining regions of
Montana and Arizona most affected Higher prices
for pig iron, the uncertainty of governmental con-
troll of prices lower quotations for scrap material
heavy buying of coal, large demand for lumber and
marked activity in buying of machine tools by ship
builders and makers of aeroplanes are additional
features
"CollectiOns are relatively good money is easy.
hank clearngs are large and business failures are
light The easier tone of money has failed to slim
Mate speculation in securities, aid the disappont-
mept caused by the interstate commerce commits
sions decision rates and uncertainty as to gov
eminent price regulation is credited with the bear
ish tone shown. Bonds are dull and investment
buving is light"