Show o J Disappointment S u a for Pessimists By Ira C. C Tichenor Vl TH the safe sate negotiation of or the peak of adverse conditions rep re- re p lating to financial and general trado trade affairs caused b by ex- ex c live ive natural demands deman s for mone money coincident with the readjustment ot prices prees great disappointment undoubtedly is being experienced by who confidently had predicted during tho the earlier portion of or the year yearS ear S tl at a a. panic would b be experienced this thie talL fall 1 S i i A declared In the last monthly report of ot the co committee on statistics of ot i t th th United States chamber of ot commerce we are over over the tho top and on the thed d OWn n grade grad d In most moat ph phases of ot Industrial and commercial life UCe The entire world la Is steadily trending to that readjustment we talked about soi so f i This time It U Is 15 robbed of ot Its Us greatest terror terror financial financial panic and en- en 8 un disaster and tel and and through It all the tho federal reserve bank system will be beth betie th tie th refuge e. e The entire commercial world is setting Its house In order by red re- re d duping commitments collecting outstanding accounts and bringing down stocks stocka of ot merchandise to tho the requirements of ot reduced demand and It Is all being done soberly and advisedly j oJ It I Is fa true however that the chronic pessimists are not the only ones who J lays ve b been en disappointed It would seem that there were some somo who were j Jn jut t aa Nt confident that with tho the presidential election out of or the way there would Immediately be Inaugurated a boom This belief bellet was entertained however boever more especially In connection with the market market for stocks In which I price recessions have havo been under way for several months Possibly It was natural to presume that the deflation of ot prices having started in the stock market as a a. result of ot the tho action of or the financial powers in applying the brakes earlier r In the year that speculative operations would be the first to experience a 0 revival While call coll money continues to remain at 8 S and 10 per cent even this this this' I I comparatively high rate should bo be a guaranty of improving conditions at a a. time when a a. severe financial stringency was predicted and at at atthe the same j season ason when immediately preceding some financial crises of ot the the past call cal callI I money went as high as per cent j I That tho the stock market is destined to experience a revival Is indicated by bythe bythe I Ithe I the Increasing of ot tho the bond market maket market which invariably precedes a season of ot activity in speculative Issues As An declared a few days ago however business reason reason thereafter is to toI rule rale In all lines of ot endeavor the tho result that the entire country will I upon a a. sound and conservative base I I |