Show I BUSINESS ESS AWAITS AWAIS it I POLITICAL TREND TREK Commercial I Activity Uncertain i I During Pre Election Pre Pre- Electon Period I RECOVERY IS NOT RAPID RAP i Railroads and Steel Trade Sti Si Stil Show Effects of Recent Flurry Flu ry I New w York July 12 Now No Now that I thc presidential candidates ates of oC both big bl pai i par par- tics lies have ha e been named and ont the tue ph plat plat- forms adopted more mOlO and more can L be expected to bo be heard of or tho ho ember o election electon outcome us that thal date tate draws draw near DIan Bryan's Bryans undoubted strength ID in th the I cst West and ant also alm In the centers has been gravely discussed 1 I I banking circles and some good author ties tics tes ht e have gone on record as pre that DInn Bryan wilt wil at least come com nearer t to victory than either of or his previous campaigns Much Is also made of or t th thc precedent ent to the thi tle effect that lint after ever eve every great rent panic In th country's thieve there has been a change In the lie partIn par parin party part In power It I Is for COI this reason Lii that great stress Is laid upon the au and business developments ue now and ant election electon Ever Every step for orwald war warIs Is toward recovery reeo a n potent In favor or of ot Taft ar while er e every set back or evi f even n a check In the lie revival re l of or busl bus ness hess ne s Is a bull point t ol for Cor or Bryan Bran Between BeLeen now an arid and election some peo peo- e pio IO look for Cor at al least several scares scares' s mi on n the possibility of oC Bryan electon election The latter can bo ho 0 expect to nake a most active an and a campaign as It I Is generally reeo that thal this Is his last chance for Cor U the thi presidency Ns Still tl Ill nl II Against the tue present presen uncertainty tI tin the main bull bul points in the lie financial situa lion Ion and ami outlook are arc the lie easy casy mono money outlook and thi tho favorable orble Ca crop pros prospects On the tue other hand the bus busl ness ess and trade situation continues de depressed le- le c cressel pressed ressel and while shIle Improvement Is re i-c reported rc- rc ported in some sonic industries it la is by ly b n nc no means general Much was made mate as a aul bull ull ul factor of the improvement ement in Lb tin the steel seel eel and Iron hion trade of oC the lie many litany man mer lilO I employed ic-employed In the un and other otle districts and of oC the lie optimistic Interview Interview Inter litter view low of oC E. E II 11 1 Gary of oC the United State Steel teel corporation cOIpo in which he lie salt said there here has lies been a l great Increase In or or- dors In recent weeks weck It I must not b be I forgotten fOI oten or that while wh shi lie le the Inc fac that hint the lie steel tra trade e is slowly ImprovIng Ing rig Is of oC great reat significance yet et the Ii fact act that tho the most optimistic estimate Is that thal the steel corporation Is only doIng do- do Ing ig a business slightly over CO 50 0 per pcr cent t of oC I normal shows sho's how great is the tin room wIn for Cor betterment Pig Iron output for tor the lie halt half oJ of oC the IC year veal was sins tons ton against 13 8 OO In 1907 Tills Is a collapse parallel even cven In the tie steel trade UK d more moro than three times hues tho lie decrease oC if tho Ito 1901 I 1 depression SI hn In Ins As s lu In the lie steel trade there Is 13 slow In the lie railroad situation showed Idle Thc he IC official report CUIS CUI'S 15 on June Jutie 24 21 J against on J June une 10 and ald the tue years year's hl high h record oC f on April 29 Decreases In II earnings however er are arc sll stIlt ic rule and ninny many man of or those arc of or ser ser- cr- cr tie iii far all ni roads re- re ting lor Clono or Tune show shown n t gross l loss lois of'S ol of lor S per cent while for tor May gross de- de per cent and net decreased 17 7 per cent There 1 have hae been no new nw developments ts tsIn jr iii- In i regard to the treasury 1 Intimation as to what action ru an CI C the II be taken In re regard art to wil bond 00 I of 3 per cent Spanish war can be he redeemed In August Al- Al thou hough h banks have h e gained currency continuation Ion of or Interior or a the rom he e record breaking Inflow since the I Is the movement st of or the year Any n further gains from this his is source after aCter the tue end o of July arc are arcI the theat I as Improbable During the return flow oo mark mark- ast at two years eals In ng g th the lie beginning o of the tue crop moving mo In Iii week demand began be an In tho lie first August Banking r ln opinion Is that owing to the lie of or Western banks cash reserves e the lie of Idle hUe money mone the large hue supply lul md and i will be he moving demand for funds 11 oil rop to ln smaller this uchi later and nail also much car eal LI than usual Tin Ill prosperity of or tho Ie farming com community 01 thus Indicated is expected vi 1 unity Importance In lii Its lS reaching far nyc of oC far trade c cs on general |