The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1921-08-09
BUSINESS REVIVAL
SEEN BY BROKERS

Signs of business revival and ex-
peeted better business continue to
develop daily. the latest being the
moathnly review of Il. f. Hutton &
Co, international stock and bond
house., which is generally conserva-
tive and tells OF things mitigating
against good business oftener than
otherwise Says the letter in part:
Wall street and the country gener-
ally has reached a stage where people
are facing facts.
The most prominent and important
phase of this change of front is with
regard TO the steel and iron industry.
The trend became apparent in this
line last autumn and has been in evil
denee with each quarterly statement
issued by the big corporation, as well
IS the independents. However, the
long decline in these issues, with here
and there either cutting or the pass
ing of dividends has cut prices down
to snbnormal basis. and with the
better class of steel issues in a
strong cash position, we believe that
while they may not show much of an
advance from this level they will not
hinder an improvement in the general
list.
Easier money. a Federal Reserve
banking position, which is the direct
antithesis of that which prevailed in
the summer of 1919, good crops being
marketed at much higher prices than
anyone anticipated a few months ago.
labor on a Debated and willing to
work basis. frozen credits being
cleaned up in some of the lines
these are factors which must be set
down as decidedly encouraging.
As far as the general future is CON
eerned, it is the logical one and will
be a factor just as soon as the public
gets over their scare and confidence
returns again.
People who have studied the record
of men like Mellon, Hughes and
Hoover. feel that, if any cabinet can
solve tie different problems which
face us. concrete results can be looked
fer from them
The work of the War Finance Cor
poration, under the guidance of Eu-
gene Meyer. Jr.. is broadly planned
and bound to be increasingly helpful
Scattered but good buying of rail-
road shares has been going on during
the past month, and developments
continue favorable as the June state
ments of several important lines
show a better condition than the May
reports.
The announcement that the steer
ing committee of the Railway Execu-
tives' Asociation has approved the
plan for funding the debt of the trans
portation companies to the govern
ment, and the payment of the latter's
debt to the railroads. has been reas-
surfing to stockholders, with the re-
suit that railroad shares continue to
look particularly attractive. while
maintaining the firm undertone which
has characterized their activities re-
Gently.
lie NEUTRALITY-SUSPICIOUS. VI IltSiuchl
Harding in his message to Congress to
extend the authority of the War FL
nance Corporation so that it may
purchase railway funding securities,
accepted by the director general of
railroads. meets with general ap-
approval and will no doubt be acted
upon favorably by Congress.
The granting of necessary author
ity to enable a government agency to
use its available funds to purchase
securities. for which Congress has al
ready authorized the issue, provides
way for an early adjustment of the
claims of the carriers against the
government, which has been outstand-
ing for a long time, and will result
in the payment TO the railroads of
about $50O,000.000 due them from the
government on various accounts.
This will give the carriers the ready
cash which they need in rehabilitating
their properties. and thus afford them
the early relief in that respect, which
is essential to restore railway activi-