Show aton ore Power u S Opportunity Nation in w World orld Is U. U S. S Says f I New York Y ork Financier By B Mansfield L. L Stat States s is toia today beyond 9 question the strongest tron nation in the t declare declare Henry Clews Clew company conservative c New York bankers of the past week letter re to the sil silver r situation and and 1 the white white metal metals metal's g opportunity Cole Cole- t of New York ork say Trend in the commodity markets other 3 i foodstuffs foodstuffS foodstUff and nod silver is still uncertain uncertain and nd restricted Enthusiasm on factors factor IS is the dominant note i in t the steel trade ted corporation rC reports s for t the c first fIrst six SIX months of this lIns year car are likely greatly disappointing Silver er prices advanced ad from to LOt te 1 vc ye formidable opposition in the London market j It is understood that I 1 i League of America has lies secured political support in its campaign I e rove that that st still ll exist a price of or t is considered a justi just i- i LI I level J prevailing pre demand W While lule the month of May ny has not notI I itc S favorable fa as April as regards internal trade greater conserva- conserva quite and nd have e our house in order I s rs to have llac resulted we may now I J n iM H of business activity over o the balance of this tillS year year car In another important point J. J S. S JU k company say Q a evidently E over ocr overE E of or readjustment Is the the PT problem lem comparative solved hed with this Jid nd the tM marks of or progress tare unmistakable ire business conditions of or theIn tho the thoIn thoa Ulve-to Ulve a In general the June forecast of or State National bank says as a's tta ta mercantile conditions both whole hole Ind tall etaU arc rapidly r approach- approach be normal Lack of demand and about prices arc the deter deter- int In hi the metals industries c advance anc In the a average crae of aU all H commodities due In a to continued wage inIs ini in- in ut ure W i is lulling development dc and arid other more than an any j Influence eating on the financial 1 busl- busl o of ot the tho United States tates Guaranty Trust Truit company of New e U LI Is surely returning to whose enterprise the thc conre conte con- con upon In busl- busl I te re of or that improvement ment recently noted depends j U iii U brisker brIsler at t t home and aria the cx- cx steadily ahead on orten or- or JI 11 are ve going 1 ten abroad all of which tends to I of Industry There apao ap- ap l no ao of a drop in Ien-I Ien Indeed there arc are more Ins In- In j s j than decreases and producers le commodities show a tend tend- I to lo lb fever the higher figures The Indication It perhaps o of the stead- stead f the situation is that t wages b at lot high levels le and the armies are being ly 11 i i b by the civilian pop- pop ea n n. n Building operations arc are adz ad- ad z K flon for Caution and Hope ier er the head Reason neason for Caution I HOpe Henry Clews company compan I ib the following commentaries of ol our foremost bankers re- re from Europe wit with h very cly re regarding economic conOver cono con- con o Over r cr there Such views are but butlo butto butto to lo those thoc who ha have C been forced acre prolonged strain All JJ the 5 mull have ha suffered beyond I aol and their people are more or 1 the Influence of or nervous e ex- tot fO o that at this time not to 10 be expected But this A h 1 Ui Ui is IIi on only I i L U no noP I i V P abilities of oC the thc three tl ezi European nations arc not fully ted ted- II a. When peace ha has been signed unrest subsides w nien cn en industry 1 I reS r i. i dr drooping o ln spirits will vanish i he hopes of or a new a arid and 1111 better I fill 11 stimulate men into fresh ennd en- en Ud nd d enterprise The Tue surest cure war few war 1 maladies malades will be Ue work orld i Is b wear weary of oC bloodshed and andt t It hungers for productivity and can devote ote Itself to no riO Beneficent purpose than aiding JI n with wilh all aU the financial and arid trial 1 support that we can s safely forth in hel helping ln Europe on sound bound lines we wc shall be help hep- riches We W e have an abundance lue tb food and raw ra material needed neede the Atlantic t md ind if we wc lend I I y If hod nd liberally Europe will be beo O I liy ii IIi the more Inore promptly I 1 t. t S. S In lu the he W irl l led ed Hiatus tates is la tOlla today beon beyond Ion t the c nation in tho the world orl Vo We have e reached our maturity though far from our full development do Wu We u need a a. freer Creer Intercourse o with our men fellow f throughout the world worl AVo We Vo want more mor o of the tho fruits of or civilization and l if ir we arc to possess these th things Ings an al we should we must be prepared to take our proper place In the forefront p of pf the family of lC nations ready for tho the responsibilities that such legitimate ends Imply We e must sustain the weak doln doing our part for tor maintaining International international Inter inter- I national order and giving ln 1 tho the helping hand to those c about to embark upon the storm stormy seas of or self government and democracy Geor George e Washington's tons ton's memorable memorable mem mem- avoiding n foreign advice ad about entanglements applied very closely closel when we wo first frat began bejan to walk In paths o of freedom but the they do not apply Inthe in inthe inthe I the same degree under modern circum stances or of this character char char- acter have h too long fallen upon a singIe single single sin sin- gle Ie nation Great Britain already haIn having haying hay hav In ing a much heavier ler burden of or this character character char char- acter actor than he can he hc expected to carr carry without incurring jealous Jealousy i if she adds to tolL It- It Why h should we not nol act as disinterested didin- didin guide ulde and antI stabilizer to wretched wretch cd Armenia and ll disorganized Turkey No Xo one will deny den that our su supervision sU- sU over Cuba and the thc Philippines has hus been beer beneficial to all aJl concerned de despite despite despite de- de spite spite- our mistakes We Ve have o shirked such responsibilities too long Let u ua Ud take our proper place in world leadership leadership leader leader- ship on lines that will appease and not create jealousies Such a policy pallo would broaden our vision at the same Um diverting us from petty homo home politics and saving sa us from rom the tho evils of 01 excessive sive l self s Se n Statement Co referring to a sensational sensation sensation- al talk madion the return from Crom Europe of a prominent New l' York banker says Buys i The address ss of or Mr Ir this week has been listened to all over o. tho the country and given the serious consideration consid consid- which the conclusions of or so conscientious con con- and able a a. student deserve It will vill aid in preparing our merchants and bankers to carr carry through more promptly an and with reater energy the movements mo which must be be to an ex extent extent ex- ex tent countrywide to help lift lirt j to its feeL It Is not nol In Its Imme Immediate late bearings a philanthropic proposition I It is a business method of insurance of I h me Inc worm elS against ami anarchy In that sense it Is In fact an m assurance urance of or our own stability and possibly of or our commercial existence Because should houll l continental Europe the he wOrl workshop hop of oC If the world world world-be be unable to survive surie and l stave off ocr revolution disaster disaster dis dis- aster would surely extend o er here I America has lias responded In overwhelming overwhelm overwhelm- I In trig ing volume t tj Li the call for Or food for Europe's Eu Fu- ropes rope's four hundred million people Sh She will undoubtedly attack the oth other r problems problems lems with equal efficiency and anil the distressing dis dis- results which as Mr Ir ha has pointed out would follow ollow failure on our part parE will be averted The strength of the market continues continue and no event ent of oC the week weel has haken 11 it There Thero have hac Indeed been no real happenings of an adverse character It is this impressive buln buying power coming from man ninny many an and new sources which Is giving gi the market ct its quality of or unusual strength its unyielding firmness under circumstances where other markets have been subject to n normal nor nor- r- r mal reactions In addition to an unprecedented supply of funds the specUlative speculative lati buin buying is based on confidence iu lu continued large profits to industry from rum ruin increasing demand for goods by bythe bytho tho the people at the present ent high level le of prices In II u rc- rc III n Ill t U on II It Record co rd I Amon Among other oilier items of Interest the monthly letter of the Utah State National National Na Na- Nl 1 bank says sas Bu Business failures durin during April numbered num nurn- num-I num berell OJ the smallest number of failures lI fj fail ures ever cr reported In Iii an any month which compares with 8 failures In March and 86 i failures in tn April of last year Liabilities of or the concerns failing fallIng fall fail In Ing In April were compared with U l for those falling failing in March and J for con concern ern failing railing in April of or las Ins No o better better bet bet- ter indication of or the solidity of or underlying underlying under under- I lying business could be presented Six months have t passed since the end of or hostilities and during that six months of or change and readjustment business failures have been the smallest ever er known for a year half period Bank flank clearings s at the lie principal cities ell cit ies leg during April totaled corn compared p a red with i t h 0 00 U 00 0 0 the tho month before beCore and a year ear ago ao Clearings 1 exclusive of or New York CIl City y were t compared with nearly nearh In March Marchand Marchand and a year car a ago o. o the gain I over O n. n year a ago o being 7 i per cent ClearIngs Clearings Clear Clear- In ings s outside of or the tho stock and bond trading centers show hea heavy merchandise disc dise movements ani and in more moro than of ot the principal cities hank bank clearings during April set a n new hl high h record for forthe forthe the month Building operations In the principal principal pal cities during March tl totaled Ii- Ii compared with In February F and Jl I in March of ot last year Building activity tty although although still far below avera average e. e Is gaining and normal cormal totals in dollars and cents cent may soon be reached This will wll not represent represent sent a similar number of or buildings however as Increased costs must be betaken betaken tal taken en Into consideration It Is probable probable proba proba- ble that the actual volume of ot building operations will not get et back to normal durin during the current year rear Consumption of wool during luring March was slightly over pounds about one half the consumption of oC March 1918 and compared with a consumption consumption con con- of or pounds In FebI February February Feb Feb- I of oC this year The bureau of or markets markets markets mar mar- states that an increase In wool I consumption was recorded durin during April which will show how in the next heat report On the first of April the number of active looms cards card spindles and combs had haIJ increased as compared with the previous previous pre pre- month The general s attitude of or the whole people is one of tor hopeful expectancy and andI conditions condition although h somewhat spotted are Improving The best business COnditions conditions conditions con COn- I In the countr country are from tram Ohio cast to and alon along the Atlantic coast const I and In the central northwest the poorest poor poor- I est cst conditions are aro In the exact geographical geo geo- eo- eo graphical center of or the I country countr and cover cr the states of or Missouri Arkansas s. Oklahoma Kansas Nebraska Wyoming Wyom In log ing and Colorado A As the bulk of or this area depends upon farms or mines conditions hould grow ro robetter better General Gen Gen- eral oral conditions on the thc whole gulf ulf coast and Pacific coast as well wells as s alon along the great reat lakes are aro Just about average a for this season of the year The num number numer er of or men Idle on strike e Is greater now I than Ihan the number id idle It- It through lack of or work worle Efforts should now be directed at a settlement of or all strikes and disputes as the matter mat mat- ter tt-r of or actual unemployment Is rapidly adjusting itself I |