Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-05-28
OF GENOA MEET
DOES NOT REACT ON MARKET
By Wells. Dfckev Co.

For a longtime it has been evident
that business men and financiers have
been paying so much attention to con.
ditions in this country that they had
little time to consider developments
abroad. 1t was highly significant
therefore, that such a high degree OF
optimism should prevail in the United
States just before the breaking up Of
the Genoa conference. Perhaps this
that the failure of the conference was
forecast many days ago. At any rate
there is this much to be said-no one
believes now that any of the dire con-
sequences predicted as a result of a
failure at Genoa are likely to material
lie. 1t is true that the conference did
accomplish something, but it did not do
that which 1t set out to do. This is
simply because there is so little ground
for accord between two systems of gov
eminent so far apart in their basic
principles as the communism of Rus
STA and the democracy which has swept
the rest of Europe. Then, too, there
is hope in the fact that the conference
did not actually break up, but took
more the nature of an adjourned meet
ing to be continued at a later date.
In our W country the recommends
tons of President Harding regarding
the abolition of the II hour day in the
steel industry stands out as one of the
weeks important events. Exactly how
the shorter day will be worked out in
an industry which has so many con-
tinuous processes is not made entirely
clear. The agitation for a shortening
of hours in practically all branches Of
the industry has been going on among
the workers for many years. The sane
tons of the president to this movement
will mean much. The completely of
this question is not lessened by the fact
that the workers in certain branches
are still inclined to maintain a II hour
schedule.
So far as the general situation is
concerned there was more evidence
during the week of the coordination of
the various favorable factors than at
any time since the general improve
ment in business began. Crop reports
from various sections Of the country.
especially from the grain raising areas.
are unusually favorable. Winter con-
ditions throughout the ninth federal re-
serve district were almost ideal from
a moisture accumulation standpoint
and from. Montana and the western
Dakotas show that soil and moisture
conditions at present are more favor
able than they have been at this sea-
son for many years.
The n bad factor in the crop situa-
ton seems to be with relation to cot
ton. Great doubt prevails as to the
probable success of the present crop.
Planting has been delayed in some sec
tons and In others the early stand has
totally or partially DESTROYED. so
that present indications point to a pos
sible shortage in the raw material.
Last season there was a considerable
of raw cotton which served
as a drag on the market in this coun-
try because of the lack of export de-
mand. Cotton stocks. however. are
very low and there is no likelihood
of any substantial surplus from this
planting. The market for raw
is around 20 cents and is run
ming very firm. If the situation does
not improve within the course of the
next month, there is every possibility
for a substantial increase in the mar
.et price.
Bond prices during the past week
showed that investment demand in sub
proportions still exists. The