Show I IS FAVORABLE RABLE SueI Cotton Better Money SU Sup Supply li I ply Big But ut Cattle In- In InI In Industry I Hard Hit Hit I I ST i i BY lIY 1 r wr-sr wr 1 I 1 CoriC- CoriC Corn I 1924 by Tho Th ConsolI- ConsolI ConsolIdated dated Pm Press Association I I NEW EV April 5 e A A tied ago attention ass 0 draun dran to th timo tact that durIng the last two tao teats all street treet has ha been beon In the th StaiR habit arI of abruptly from abruptly drol one ope 0 ec to 10 another and both bolh UI up with a don mote moe mo I mint to excess In Januar the th stock alock mar market et shut Its eyes eres to e erv er thin thine e except e c I hilt hiltI was I a favorable In the Uie bui- bui bUki Hess neM situation and lh the suIng ensuing ad td advance 1 vance tance went too far tar It I tool took too A view tw of thing Conversely prices lent t for lor practically tao 1 months beginning with the th first of February and a logical I In Its lu turn was ns 0 overdone rhe fh recovery of th the lat last week eek ha has not hot been boen due duo to 10 anything freh h In the th trade trad ur or other no nw none e It has ha ha merely been beena a 0 recognition that the th sellIng rno In It its lis later lafr slag a aas exaggeratIng the unfavorable tea foil tur fa-tur lure in time busIne business and not taking proper account of the tho fat H K H it ItS S 'S 8 STAGE ST COAlE COME flACh COME ACI Time The turn came cam first In rail 1 JY securities these all things considered In a better position than base e boon far om I I time Urn It 11 1 has been evident all along I alongI that thaI out old line dividend p earning e thee dividend two tao t 0 and andl andI I Hire three ree times time over 0 er ought not nor nor nor- norI I nor 1 I mally to be b selling elling on a 7 1 loi peli cent basis basil hils Is The Tho trouble was of 1 I 1 course the tho th of a class of where are rs nr los lios- pos possibilities acI of oC ah ads erse era 0 a ac- ac lion ac I I lion eal eai nino Po potter or orThe i The launching of a I I I In III the rails was sins delayed until theme thele was I I ancI that the th eit llon lon tor rate ralo i I tion would Mould fail at tile tue present SeS 51 slon Islon II I trans transI slon of congress s Ider th Iho trans trans- transportation act aLt ot of 1920 19 O tho thu Inter Interstate state commerce commission ss I glen glien the to decide hal tins a fair on property Sal Sal- val value nl- nl 11 1 ue and adjust rate ralo schedule ac It IL fixed upon 6 per perI percent cent cOnt as ns the tho t lr return an anti and It IL s I happens that not until rr Hr me Ie centI ho hoe however honeter e er earning us its u I 1 hol provided as ns large larco a la as this O I NO t 0 LOV FK Fit 11 TJ n Tl S Under I these ell cs tanes there could be no general rate Ion 10 oi 01 ani in mn rates to farmers armera without a n compensating Increase to 10 other the tho so o called Esch act nero amended so o as ail t 13 cut out hat Is known n as the th guarantee feature W Vail all Street doca n U t I bo- bo 11 e that there ther Is an lik lk or of this Ibis being done with siLl lh the h tat tat- It gl atlon and und e must be in dIO time the limited time remaining before cou es adjourns I he other main e ha bo br I of the ItU bu buvin Ing of or ra tie ties Is th ha thit ex-cj- ex else sl lve amounts hate hao hav been expended durinG the last two to Sears or cr m re on maintenance Ihl this thia as s a from the of frO I control This excess I expenditure ps passed d their pt pc some one time ago and n now v are on tile the do The result I Is that the Ibe grosS TOSS cam by month lne tho th spring of ot 1913 are no long S up L PI ns timI account but are ar Ing in tim th I I net nl This Thi means for tor or most mot ot of th Lb continuance of auy a uy suy I I I satisfactory pius a uyI for dl and If the general busl busi business ne ness volume I Is maintained at nt ii ai ar I I arI I thing like time till present and If loth ling ing n goes strong In the I campaign It un me n I llon or In numer- numer u ous dividends dim dl I blends t I cono con Io ON U I I I Jh lie he most mot Important do ment nent ment In tho th busIness du- du I I du the th week neck was the sharp harp reco reco- reco I I cry In cotton prices b a Increase In ps I I fur for cotton collon goods good It La Liot L I not yet I clear r b bi any means that thaI co ton I yetI mill 0 ne can make ml money at quotations But It 11 Is cit clel that mill curtailment wn was carried d dI tar nouh nough t to stimulate stimuli the do- do domand de demand I mand for print cloths cloth and an l cotton manufacturers manUfacturer Tl This nfl ren- ren ders ii 11 IL sf safO ac to sa 0 MI that the th cotton coltun I trade Siam hau 10 the th corner UI On the th othel hand there h ha been no 0 In oth other r ng ag agricultural lines 5 heat heat prices continuo con- con to sag nap an and there thor I Is real do do- do In III the tIme tattle Cattle It ItI Itis I is good food politics politic a especially In itt L ipri 1 sear er ear to 10 push puh of I like e the thu Haug n bill which aims with stith the assist assist- assistance ance of or government to aid time the heat farmer tanner to mal make this product product- The ultimate solo solo- of tho Limo will III not ho be found in artificial expedient expedIents ot of o othis this sort sortI ort The Tim es f teL ct Is I that corn com com I poling countries with Ith loner loiser labom i io Costs o can nn greatly undersell OI Lisa I I rc r raiser n I these s no dependence cnn can be b placed longer longe upon the I foreign outlet tot fOI the Lbs lh i o American surplus The Th a wheat heat hent I be nl l I that bat I they hey will hate hae to lo LOt LUI their prod clon to KUtt uit the th I of oC the th d d alone DIone lone rise rhe Th 12 percent percent per pr cent reduction reported In la wheat area acreage tutu with the th of oC a 1 slightly r Percentage In InI Inthe I time the siring het irca mrea r l indicates I I A a- good deal of or progress I but bum s 5 tar far It h has hj s not nol been lenough I enough lU BIG MOL Th Time investment demand d mand both bolh for old and new securities Is veil wll sustained u founded d as It Is upon the tho sign ot or a super mono money supply Tune loan and nd commercial paper ar ale now being quoted at nt the th lowest of the tho th sear The danger dancer r always Is I tinder con con- con conditions like those thos that new now of- of o will be b pushed l to con I and the tho th market become becom 0 ed But this stage tage lies hai not yet be bein n I leached cached iho 1 he latest reports report ar arc aro that new nw business coming Into the th steil companies ha has fallen rall n ort oft I tIme very tory level 11 of or a ago and aid that thai competition I Is on the Increase But If Ir th the q quarter arter J In is not to Lo be b a as a the tIme first firm the fr th the II three month ending March 31 ar are going to 10 make male an excellent excell t and tills this Is what the tilO I ket market at nt the moment 1 I in moro nier nier In The Th oil d lata ta I la is or Or conflicting rhe curtailment ol ot 1 I output which went wont o on 00 from S1 Sep Sep- I to the th of ot liae hae been checked and production 10 I on the increase rease But so o far I lime he Increase 10 lias Imas been smell and doe dom not threaten t to affect price It the oil can Coln feet tet present pruet prete prices for or their bIg ble surplus of olow low how price cn t rude crude In It will men immen lago earning an I 1 quite po possibly sibly a 11 series nerle of increases It Is I this thie that lio he mar ar market r ket for tor I the he oil oU shares o Is I ini Ing upon C |