Show GENERAL ENERA ACTIVITY MONEY MONEY Industries of Country Use UseI I Funds Needed For Speculation i. GREAT EXPORT EXPANSION Diminishes Abroad Should holhI Make Placing Loans Loan JU Easy J New cw York YuI Fa Feb 25 on stock stock exchange continues to lo shun show signs Ism of oC fatIgue Values strengthened temporarily at nt times lines owing to the time ov- ov cring operations of or an nn Increasing short shor Interest but the tho general drift of oC the market mallet remains downward The reasons rea rca sons rons are the tIme same Mme as already advanced ut namely the thc ti o over discounting of or all al bullish influences the iho great gleat increase in new securities and ane the scarcity of mOle money owing lo tu the advancing ten len dency The multiplication of new securities Is going at a rapid pace hUCO and ant further large mounts amounts arc ale probably In hug ing The limo process If IC long bug continued will wi produce more inure or om less congestion Inthe in inthe the time financial markets Then our OUI local monetary outlook Is still or ory Bank reserves was not being strengthened by the tIme usual Influx of or funds from Crom rein the Interior 11 0 1 because business busi busl- ness nes actively in Iii that rc region lol Interferes Lar Large c sums are still sUI locked up tip in speculative spec c ventures and amid stringency here hero has forced the tIme making of large loans abroad There Is mm no cure for Cor time the present situation sit sit- si- si except further liquidation and any attempt to lo car carry on un the thc upward movement under existing conditions will lead to lo Attention is now being given si cn to the time crop crop outlook and all advices at from rom the time northwest are arc nut not entirely ory II The winter has been a mild mid one throughout the tIme wheat bet belt e but hut the he light snowfall and the tIme absence of the time usual quantity of moisture have ha c had hat a amore amore more or om less hess injurious effect upon the tile crop cion This year car the harvest will wi be watched with unusual Interest since it I may become a turning point in business busi busi- ness nes progress There are man many sl signs ns of approachIng approach- approach Ing reaction and only onh some pronounced 10 pro drawback such a as a n crop failure Calure fall fail Cal Cal- ure nrc is needed to change the tIme current It I Is too loo early however hU to feel Ceel an au uneasiness un un- easiness In this respect and amid ant late on ott the heavy hea 3 expenditures for or new railroads raIlroads rail raIl- ral- ral Ioa roads s and ant other constructive construct c purposes b by recent large hon humid bond Issues will wi prove a a supporting Influence in Iii business port E. Expansion iol Immense Our Om foreign trade Is i 1 Into t tremendous proportions and amid in Januar January Janu Janu- ar amy ary time Iho total Imports Imort reached 06 record DurIn Durin During Dur Dur- time thc the heaviest on In ing the time same month out our exports were over CI 1 also the time largest January on record Here was an aim excess ex ox- cess ces of exports over o er Imports Import amounting amount ing lug to tt SG this year ar compared with last year Is This export expansion of or course COUle eminently satisfactory a ass art lu IL It tends to to diminish out our In Indebtedness ness u broad an and amid to lo make It easier for fOl our Cur bankers to I place loans loan In the thc foreign markets If I Europe shows u a disposition to purchase put pur PU 1 chase chaHe our oum bond issues more freely as asIs asIs if prices are made nt- nt Is V very probable this too loo la is a t matter matel which would partially relieve monetary pressure pres Ires- Ires sure in this market |