| Show OUTLOOK ROOD GOOD FOR FO BUSiNESS Basic Industries Show That Bottom Has Been Left n Ii Hv S UT P WEST C T Special nt to 10 o TIme The COP right 1923 1923 NEW V YORK Nov oV sov 24 The up- up up upward ward ard movement mo in the stock mal mat mat- mai-ket mai kt ket st which started sinned in the last ot of was stas a 1 recovery reo fot fOI to the fortnight from price le levels els not I by hy th the of o the time out out- out outside tide side silt sill allon atlon In th the third ss eel i It was as checked b BY th occurrences sn In bleh threatened to break up t the hI en- en en entente 0 tente This last Int week eek the rise has ben been r resumed umed and it his gon gone too I for tOI to be regal ded any longet longel os as osa asa a mere mero I ery cry It has been a I Cr sh advance a a moo moie feeling of ot confidence e In the bu business iness outlook or 1924 The main mam contention of ot those alto ho looked pessimistically at the future has been that tl while the trade volume was nas Admit admit- admittedly Admittedly ted lars large conditions In certain basic balc industries v ore ere or ble nd nd C s wee C P e likely to spread More Moro Moreover claimed that over oser It has bas been producers producer could rould not put up III Ice sufficiently to orts offset t the increase In labor II and nd other cot costs Hence the conclusion a 5 was 35 di n ha ass n that thOro was as to lo be a steady teady o of the profit margin n all nil along the Inc Ine PIG litou lito 1110 M u 1 nU tUBBER 1 nee nt events e have base all aH been the Iho propositions A eel ago signs of ot Impo ement nete ele noted In copper one of ot tb the basic Included in the list of oC the depressed During luring the pat past eek two other conspicuous elk spots have base s iov i decided 05 C- C mont ment One Ono is pig PIR IIA Ion lon the tho oth r the I lubber tubber and tire trade trad- trad Iron prices six months Il of oC uninterrupted uninterrupted decline finally teacheS cached i n a level where buying was as attracted jn In great enough quantity to bl bing ng about a turn Ther There has been similar evidence that such overproduction o existed elsted a awhile in automobile tires has been corrected As for or the idea of mounting costs eating up profits pro this has not been bOI boine ne out In the earnings earning statements elthe rot the railroad or of ot the general run ot of big manufacturing and mining en- en tei en-tei Rall Ralla Railway a net revenues were store held lack back during the tn at eight months by the tho necessity o of unusual appropriations for tor main main- maintenance maintenance tor for equipment repairinG the damage done and b the shop shop- shop shop- men s a strike o of 1922 But in the two succeeding months with these thee ons ens more normal the thenet thenet thenet I net has bas gone gono ahead and the railroads are making makine mOl moze I money than they Stave have In man many manyI I ears SHORTER WORK Do DoIn I Y In the case of ot most moat of ot tho the larger tel sleet companies the wage walle Increases Instituted last a and nd tho the short shorter er Cr 5 v da day put Into effect In inthe inthe the summer hale hae not had tho the un- un unta un unfavorable favorable ta ora ble effect which many acre ere predIcting The steeL steal corporations corporation's thud third quarter are aro a a revelation re o of the ability to absorb increased 0 s ems e quarter statements of ot the thet t companies which shoso ed that the labor problem had been successfully met and that cotta cots should be reduced so BO as to offset the decline in copper prices E Een en the oil eli companies lea have base made II a good deal better showing lately than was nat looked for or GOOD TIMES The W Wall all Street markets marketa for tor the thelast thelast thelast last ho however e eer er ha has have e bad more In mind than the ery that the pessimism of ot the I summer and earl early autumn as overdone The They have hate ha e been looking moro more to the future futuro and have base been registering the opinion that 41 esen evenin en enIn In casts like oil and steel whereas yet there has been little improve Improve- Improvement improvement improvement ment the turn Is near at hindIn hind hindIn In fact from the prices r cel ed from nia and centra dish lets telling of ot restricted c c oil production It will bo be a It if the figures during the next week eek or so 80 do not indicate much more of a change than any sug- sug suggested sug suggested up to now In th tho th case o of steel It Is pre pretty ss well ell eli that supplies In con ae running low nl ml that the time cannot be far Car distant whon net nel business nev business will be bo flowing In mor more freel tech T Tt V T The apparently eral senti senti- sentiment sentiment ment in favor ta or of or tax seem to n ci ake nIce t reasonably probable that will still b h done at the coming session of ot con con- con re s gres s 's Ho How much good tills this uld do the business depends upon the tho size aize of QC the tax ax cut A lessening o of time the burden on earned Incomes would touch business In e Cral ways says ays First by reducing the charges chares upon producer it would enable le him hini to lower lo puces 9 The cost of ot using living would come como do don aim n nand and partly on oil thi this account and because of ot the relief through b remission of ot some of the present tax ax the general Jeneral bu bul Jis power o er a would he be e 1 his In turn promote expansion In trade CUTTING LUTTING OF tES The Mellon program eai esi in its tor for t the e cutting of would h h tho mo of capital Into exempt securities IS Wealthy et per por perSons Sons loons would be able eblo to 1 put 1111 back Bomi ot of o thel thel- thel money noney Into other kind kinds of ot Invest Invest- Investment Investment Investment ment and nd the they would have hate e more heart to engage in new now enter enter- enterprises enterprises I The Tho European allies ha hase haI I I patched up their differences and base ha sent gent s nt their joint note to Get- Get aman mani Gei-mani man mans TOils This mans m-ans for tor the IH pit pit- t cot ent pio-ent pio the tho preer preservation allon of ot the en- en en tente entente but It does not mean any allY toward to ord the settlement ot of reparations Consequent ly Consequently settled the foreign exchanges have set set- set tied back again lbs French franc ui welt well above e its extreme low reached a week ago alo when Anglo Fr French relations seemed badly strained But with that tion exception it Is h below any figure so far luote quoted this tear ear |
