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Show 1 . CLEW'S OPTIMISTIC VIEW OF TRADE. In his weekly review of the market Henry Clews, the New ork financier says: In various directions there are indications of slow but cer- i tain improvement. There are still some complaints of slackness r - j in trade and in many instances profits arc upon a smaller scale than for several. years. At the same time the volume of general trade is fairly satisfactory. There has been no shrinkage of consequence, con-sequence, as proved by well-sustained railroad earnings and bank I j," I clearings, and after the season of quiet incidental to the close of ) "UHeVear 'there is fair assurance of at least moderate recuperation. J ' " -3By far the most significant element in the industrial situation I is the striking improvement in the iron trade. The J urn was made f- . abont the middle of October. Since then orders have been stead ily expanded, and this week the big producers of finished steel 1 have been so besieged that in not a few lines capacity is fully e engaged for four to sis months ahead. Prices are already firmer. In some instances they are being advanced, and the probability m ' is that the close of the year will find about SO per cent of the j ' ' , country's steel capacity fully employed. This is an exceedingly ' "' satisfactory state of affairs, albeit there is room for further im- t ' provement. The bulk of orders have come from railroads, which Y j - , , ' deferred their purchases for material so long that a rush of be- Sh ; lated business is now coming on. If not actually a birycr's panic, lis ? the present anxiety to place orders is at least somewhat suggestive Ji too long in placing their orders for rails and equipment and may I find themselves crippled for want of the latter in case of any j '- , substantial revival of traffic. Big expenditures arc ahead for the l railroads m compliance with the demand for better facilities and ill I 7 more modern standards. The iron trade is still regarded as one ff , of our most reliable trade barometers, and it is quite certain that of ' railroad managers with their exceptional opportunities for ohser-1 ohser-1 j S-ation would not be placing such large orders for equipment un-I un-I J less satisfied that a turn for the better had come. Their action in the matter should be accepted as proof of confidence in the wm future. H ;. In banking circles there is also a more hopeful feeling. A Rk . .slight improvement in investment conditions is observable, and i -j'Js tendency will probably become more marked as the 'time for M .Jwpthat $220,000,000 January disbursements approaches near. There (Up is an abundance of capital awaiting employment and only two U ' conditions appear to be necessary for venture, viz., safety of prin-Hf prin-Hf y cipal and good returns. Investors are insisting upon the 'latter -more firmly than usual. In other words, capital, too, as well as m labor is demanding better returns. A fair amount of new issues V have recently been placed upon the market and have met with l V'good success. The coming month will probably witness a number l 'of additional new flotations. |