The Wilson times. [volume] (Wilson, N.C.) 1896-19??, 1919-02-25
.623 MILLIONS THE:
NATIONS EXPORTS
For the Month of January In
dicates Europe's Continued
Dependence on
AMERICA FOR SUPPLIES

AMERICA FOR SUPPLIES
New York, Feb. 24.-General re-
vival in the stock market during
the past week has given promise OF
definite recovery from the depress-
ing conditions that have been over
hanging the industrial situation
since the conclusion of the armis-
tice with Germany. At several ses-
sions, very pronounced advance in
prices accompanied by heavy trad
ing was characteristic almost
throughout the list. The country
as a whole clearly recognizes the
unique position of strength which
the nation occupies at the present
time and evidently refuses to be-
lieve that anything like continued
depression can prevail. One good
evidence of this state of things was
furnished by the large "wire orders
of the past week and the apparent
interest taken by bona fide investors
in good stocks. There has been a
very considerable accumulation of
money since the beginning of the
year. Some of it has been used to
pay off obligations based on Liberty
bonds, but a great deal more has
been held idle awaiting the arrival
Of satisfactory investment levels in
the market. Not few such hold
ers have become tired OF waiting
for prices to 60 down further and
have registered their belief that the
problems of the United States will
be met and overcome in the right
way. Other investors are likely to
follow their example, and will be
wise in so doing, assuming fair
judgment in buying.
The general temper Of Congress
as it draws near March 4 is on the
whole conservative, and such action
as has been taken of late has been
encouraging. Certainly it is the ev-
ident wish of all parties in Congress
to see the United States pass safely
through the present period of world
readjustment without any serious
shock to its undying social and eco
nOmic structure. This furnishes
the undying social and economic
structure. This furnishes the un-
derlying basis of the markets con-
fidence-a feeling strengthened by
the fact that affairs at the Peace
Conference are evidently moving to-
wards harmonious climax, regard
less Of the question how far the
scheme for League of Nations
or other new plans agreed upon may
in the future prove themselves feas-
ible.
The market of the week has been
the outcome Of many cross currents.
Railway shares while generally
strong have shown only fractional
advances in most cases, but such
losses as they have incurred in iso-
lated instances have been promptly
overcome. The other great group
of shares-the industrials-have
enjoyed what might almost be de-
scribed as an incipient boom. Not
only U. G. Steel but other steel and
metal issues have either held their
own, or more generally scored some
advance, a fact which is notable in
view Of the softening prices for
steel, copper, lead and other basic
metals. Certain of the other indus
trials have done even better. The
attitude of the government with re-
spect to the financing Of new enter
prises has been favorable and the
disposition to throw the task Of TAX
ing care Of all ordinary foreign ap-
plications back into the hands Of
private financiers 'aas been more
and more unreservedly accepted by
pulic men. Nevertheless, as
shown by Secretary Glass's request
for authority to continue advances
to foreign governments, as we'll as
for power in the War Finance Cor.
poration to make loans in aid oi
oreign commerce, there is an evi.
dent appreciation Of the desirabili.
ty Of keeping up such. trade even
at the cost of some public assist
ance. Demands Of foreign govern
ments and peoples which have beer
expected to fall upon the money
market with great force by thil
time are still more or less delayed
There has been but little new Dc
velopment IN the directions indicat
.(ccntinusd On last pags)