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Show NEW YORK, Feb. 11. James J. IHUL, president of the Great Northern hallway company, who haa returned trozr. f.. Taut, expressed the conviction today that the tide of prosperity is turning, and that there are indications of a significant recession re-cession in business. As Mr. Hill phrased It, "The, sails of prosperity are being reefed." - ' . ' "General policies of retrenchment are under way," said Mill. "Iess money is to be spent on new works. - The effect of this movement Is being -felt at the present time in the falling off of orders. The be- J winning of this movement la very evident n Chicago. - , "While I would scarcely call it a recession re-cession in business, it is more of a draw-ing draw-ing in. The rallraads are curtailing their expenses and placing fewer orders. On our lines we will finish the work we have under way, and that Is all. - ' "This movement toward economy is scarcely perceptible, but it should be sufficient suf-ficient to relieve the strain from congested congest-ed business. In a way it is a good thing. It is better so, as the curtailment is gradual, grad-ual, otherwise there might be a sudden slump with serious results. 'The first tendency is toward the curtailment cur-tailment of luxuries. Then there will be a falling off In the amount of manufactured manufac-tured articles. This will continue during the coming months. But so far as concerns con-cerns the future, the year 1908 may be a ' hard one, and then many men may be out of employment." |