Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-09-02
MARKET FUNDS
FAIL TO BREAK
INTEREST RATE
Millions Offered by Small
Business Men Taken Up
by Europeans.
RAILWAY COSTS GO UP
Special to Indiana Daily Times
and Philadelphia Public Ledger.
Nv & r. EVANS


and Philadelphia Public Ledger.
By c. b. EVANS.
CHICAGO, Sept. 2.-Most people in
this city have sufficient vigor and en-
terprise to produce a yawn, slow and
weary though that yawn may be, but
there are some who seemingly can not
get UP enough steam to produce that
interesting psychological phenomenon.
Out in the blaze of the prairies the men
display some of that virtue of former
days called courage, and in Nebraska ths
farmer soon will be harvesting his win
ter fuel in the cornfelds, while the ice
dealer in town will be making GOODNESS
in an ice factory. In spite of the early
flight Of migratory birds and the un-
wOnted thickness of fur on certain or
our wild animals, the average citizen re-
fuses to believe during this scalding Pc
riod that we are going to have an I'M
usually severe winter.
Merchants and manufacturers who have
large SURPRISES of cash are lending IL in
the market becaues they have no use fo-
it in business. Even some Of the smaller
men in that line are thus employing
their funds, say a few hundred thou
sands each, whereas we commonly think
OF outside lenders in Wall street as OF
the lar@er class.
This is one Of many evidences of the
general principles that it means a de
cline in the rates for money, but those
rates go down little. In former times
London set the pace. being the great
lender of the world but London has lit
tie to lend now outside its own special
interests. 1t is in part for that reason
that we can hardly expect much decline
/ in interest rates.
WORLD SEEKS
AMERICAN MONEY.
The world wants our capital. Cnques-
tionably large credits now are being
granted on the comparatively small
amount Of exports we now have. Then
from time to time some government
comes along with loan which takes up
the slack in the market. One may judge
also that the great financial performances
in New York calling for hundreds of
millions If dollars 10 make up deficits
in export and other companies still ara
in operation or at least have left a hole
that must be filled by funds from the
market
But smiles continue to evolve them
selves from these situations from time
to time. Wheat scored a considerable
advantage yesterday and that, too. IL
seemed as a result Of natural forces, for
speculation is not Of the bold type. A
man Of high authority in such matters
predicts that wheat viii sell in Chicago
at s. a bushel before the close of the
year This prediction was based on
statistical knowledge and when we re-
member that Russia, a country that
formerly competed holly with US in the
food market, Will require an Immense
quantity of grain even to lift its people
partially out of their present horrible
condition. we can believe that this pre-
diction may come true.
From another direction one gets cons
structive information. The many hold
ers of oil stocks in this city are watch
ing the conference in Mexico with much
interest and with the expectation that
it will eventuate in benefit to the oil
trade.
A straw is the report of sales by Sears,
Roebuck and Company for July, which
shows a decrease from last year Of only
1882 per cent as against 81 II for The
whole period thus far this year. This
bears ont the recent advices of a picking
up in the mail order trade.
MARKHAM ON
RAILWAY COSTS.
The retreat of business in the pas
year or two, which was not strategic,
but forced. can no longer be called a riot
for parts of the force are putting them