The Leavenworth echo. [volume] (Leavenworth, Wash.) 1904-current, 1921-02-04
$500 PER YEAR
BUSINESS CURRENT
MOVES ON TO STEADY
IMPROVEMENT
FlNANClER LINENS BUSINESS
CONDITIONS TO FLOW or
LARGE RIVER. THINKS NOR
NAL CONDITIONS WILL COME.

NAL CONDITIONS WILL COME.
r. Y. Ankeny, 1st Vice President of
the Seattle National Bank, says:
Any survey Of conditions endeavor-
ing to interpret the factors that exist
IN any given period, Is to a great eX-
tent affected by the viewpoint one
has. According to ones perspective
and, as one might say, ones alpna-
bet or language with which one inter-
pretS the significance Of the signs of
the times, varying opinion may be
formed as to present and prospective
conditions.
In business circles there are three
primary viewpoints which, if used in
dependent OF each other. may lead to
erroneous conclusions. These are the
viewpoints of those who may be ac-
lively interested in only one OF the
three primary markets of business ac-
tIvitles-the Commodity market, the
Money market and the Securities
market. The various phases of the
lnteraction of these markets upon
each other constitute the cycle of
trade. The changes that occur in any
one Of these markets cannot be un-
derstcod Independent of the changes
We beaI'' a crI.e9t doa1 j, a. ,ro,.iod ,r
raadn1s+nna5+ s5cb as bngi,ats 80 = ro,,. W.
NEUTRALITY-SUSPICIOUS. - = ,ii,l ~ v"
~ Of t,.I '''o- ~ 'iiS 9o-oai'e'
Nh Charles H. Dow, one of the
founders OF the Wall street Journal,
is reported to have hkened the course
OF the securities market TO the flow Of
n,.ica o,o, - - - 4i,,Se 9e
tan1bJas Tho ro,,,.so p ,.ir;,,a r'l.'
,rbicb dombIey nn itsoIf 'l'o.-iis a9.ait5
a,rir ~ ~ va +.a'.oi;,1 f'iI,,, an aiId
nS';nt 10 NTH, ,3;s+.,,4 ,,1,,,, IL.
toI+, ,,,iios '''ir -, 49,. o!.H
sct1aiI, - ~, d;-+n LiI'e of ~
~. 80 r1iIes IN n-,l-iner 49, iiars
tr and viii of+nr +,.a,,el fo, 49, 49,
NJ les in = Jiroo+inr onnosi+o W +bat go aF
is Intimate or t,.ua fdn,,se F,I,.t 1,-t1' heI.
,f,o,,a +ia oJ,,. 81 Jje iije
yvb;cb I,oer tbo s4,.o,.s nr - -'7,fnoe .s.ieo
tu-istIng a,d t,7,-oi,1g hecl I'D fa,-b
ali The +i,no -o- ''i
TIC ,,.;,,,o,,. ,,,o,-a,,,o,,4 &c ,,,.;oo.
co,,reenonds ~ +bo t,,,e no,,,.sa df ~
1.ive, and evnressas 10 o,.ad,,oi aJ
irefnoen+ of Trires IN ;r,,es+n1o,+ ,,ai-
nos
Tho eeoo,,ds,.,. ,,,o,.a,,,a,,+- bo o,11o.l
tho ,,i,,a,,s Jo1,bii,,rrr ~ -.
thnted nsi1'i1 - t, ,t an a.
tions OpN'''
Tn surface ed,lias roAac+ tho doi1,,
ac+i7-i+ies on tho avcbange
sometime. +be EI1,-fooe addior
double IN tho act,s1 f1o1,- of tho c,,-,
ant and snI,,a+ r,e's +ba o+,aI ~ , flo,
~ H. o,,,-,.o,,+ Ia,,fI,,. -, -
+r,,a courea b,,+ 40 Ir,boia fo,r,,s IL
Contir mons c,rrar+ of the river
Frcn7 Tho banle,;s ,-;eu,no;,+ b,si-
ness 1eo,Ii,as for tho fYed .sse+.
e,,nb a. Iond br;1dinrs r,ooot, -
and lii ran:+oI in,,oe+,,,a,+e oa,,;+ol
sso+ f,.or1 - ,l+~ "a
securities marker nd he 51o,nv 51i St
nlarka+ sunnIiee tb,o."c,b tho hanllors
To1IiT f,1rd5 - f,,a-co Tho ao,, -
roode +',,o1,,-L .ba cor,,1noi+,. ,,o,
Iets maj
Ro-, -I.a i,,-o.+.o,. f., .5,o .1.,,,.;.;,..
,,a,.l,o+ ard +ta ba,1-a,. -, +bo Tio,,a,.
~ IL, eo ,a7lo+o,,+ for flnd ,,-,o,
,erlan; sl,,,s,t f,.or, b,,g;rase ,,,.ast
m s+osd,. g.. nr cronls ~
eon,r9od;t;a To- ,la,l-at ;- eor+;,,,.a,,t NM M
~ 4ba 1,,,.c1,asirl, ,,o,,,or ,.oz,,I.;,I,,
fror- tbd none, balapca of ,,,;oo ,ni
a+;,-o - ;rco,,a of IT, 49, &C a-,,
s,,,,ers
W. ave now sIo,vt,, ,.aco,e,.i,,, 4,o,,,
a., .'rSa1apcol oonj;+ior T, a. al oi,,
- sTeal, bag ca,.,.;ed nc otT o,,,. foo+
E,,t ,'a ,ro 80 ir,i,,,- ~4ob1a b 60
v.;+b tho 'i' ''pfe ~ 80. -
-. IN ,ro,,,.o.. '''' -
tbs no. f+brosta,- district bas bae,
mucl les disturbed tbar manv otbpr
or 10 ra',,+ aod Ia, ,,:i+ -, n'-r
- rs+l,a resorces i, ''i1 he oo,,,e ~, ooa S-e
and arel.,e,, ~ o53, nao,,le anJ o,,,.
Il ,,osit;on az a,ataD.a' ,' - 49, tbe
sd or he 0riant t1aro l. ass,,,.. ~ rco r,.e
"a .. ,.e..,.af - l..,s;,a
=, tho ro,se, -ofa,. g+ol;Ii5aJ I'll Ir ,I.o
a,a ,.-..- srnroacbirg
Rn. "ofj e. biorad,' eco,o,,,,. .r,,
l.raqt ..r,r,lr Ems of ,,.asltb -
duotfon mnst he nrac+iced
peso,rraae must he acc,lr,,,latod IT,
&. ,-- .1----.1 -r,.,,.,-.