Show BANKERS ACT WITS WITH CAUTION Comparative Stability They Think Extends Far Ahead By DYRON Special Sp pond nt of The l Standard tandl COP Copyright right In NEW NCR YORK YOl K April 21 There Is much to support the view advanced In banking circles this seek ee that a along long period of o comparative stability Ity is ahead nhen the outlook Is considered from long range As far as business is con con- concerned concerned the Impressive feature I ms ithe thE noto note of caution n and so often heard just now and apparently b being heeded Manufacturers arc are making mal price I advances veri er lowly I and carefully ven yen when rising costs fully JustifY the Ihl advance ad There is a t soma fea fear r of n so railed bu buyer J 3 strike and a 0 disposition to slow 10 do don Bonn n rather than to Incur the tho dan dan- danor dancer danser or of ot checking demand of consumers ers rs There arc are of course lions t IOns in cel certain trades ani an I 1 oni om modules S but the I mule ule good The same saml o c obtains in the monc money mac m Rates Kates fluctuate oser 0 or a I small range e l I mg Ing the demands of expending expanding tro the credit situation Is Ie favorable fo inthe 1 In Inthe the extreme Of Ot course this is it 11 large part rt due to the abnormally abnormal heavy gold holdings but this does not alt alter r the fact tact OLD ID STOCKS As long as the gold Is here tt it must TT be reckoned with and Ing coin and bullion gold sold stocks stock's in I the United States established a anew new record on April first at n ar 4 U 1 Iho ho he exact figures were 3 compared 3 on April 1 I 1922 MOl eo cr predictions of ot a turn lithe the tide have hate e not been tx-en verified nor noris js is there thero an any signs of any SUCh changes change In la fact March gold ex- ex exports exports ex ports increased l about 1 over the preceding months month small changes change M its na occurred in condi- condi condition condition tion of Federal Reserve banks binks an aro without SI significance Dlf aDee The reserve reser ratio continues l high gh and counts low Ion Speculation likewise halts halls an and 1 hesitates neithel bears bear nOr bull bulls lJ being at all sure lure of their round Thu former make malte much or orthe othe the he fact that all the markets hot stocks loes and commodities have had ha hd such uch rely elY large advances oscr or ov o r r the their 1921 low tie the latter still stress the P r business bu outlook The net result Is Hr very small and neither side can ean point to concrete results to n n sup sup- sup support port t of their po position BRIGHTER A D AURO RO D Turning to affairs abroad l feel feel- feeling feelIng ing In this week is decidedly more mON mONche che Faith that a n settlement must mu t be readied reached teen bet Prance md and Germany grows gros stronger So 10 many ls CI catastrophes Ita have e l been bren en pr- pr for tor Europe and things Ilu- Ilu that have never neer happened th t now non there Is a disposition to 10 tc 0 they may never happen at atall atall all This turn In sho shown II III I st in the quotations for quotation tOr fill i 10 government nt bonds ha have hate 0 been beci beena higher this week wee than In man a 10 months 11 There Is 15 reason r ason to bs- bs b lIe e also that the thc ItU buying Ing of ot these thes hive come mostly fOll JC Individual in rath ratte- from traders or deals deale s eft is altar n b l to sp-c-i sp that I the he consensus of world orld opinion for lOr orno of this buying has tame toine ome flom tout abroad a reliable fore fore- forecast forecast cast east ot of better belter d tY ou on the tho side de just as the slow slop r recovery overy of lh mock i ock market after a lon long Ions period or of forecasts Linde t a e rea re I OH nOrT I Returning to tiro tho situation at L Lhome home thue th e is b 1001 moio e r raising l ln of wares more talk tal of 1 labor shortages and ind discussion of or the tn- tn mif im-mif ration pro Judge Garys Gary's that the pr as IS A ml mis mistake mis- mis mistake take tal do rot seem to b l bP generally shared haled by lW those in a position mot most to influence the new congress rot Foi strange as it may appear the he agricultural interests are ar aghast letting down dorm do n the bars baM Th that allowing free tree en- en entrance en entrance trance to all rul foreigners 0 who nho desue desH to come COffie help hell solve the tha farm la- la haher la labor hOI her problem dots does not impress the farmer Ills His reply reIly is that the typo t tv pe of immigrant who ho ha has been coming during Juring the past decade did not set set- settle lle tie tle on the tho farms but In to the great and as far as bringing down dow I Ages is concerned It must not be b forgotten that the farmer is both laborer and employer The labor unions are even more strongly opposed to any change Inthe In Inthe intha the present law so that It looks as a though b manufacturers will have o 0 soh solve e their 0 own onn n problems al as farS far S is SUle the Ule labor supply Is concerned under prevailing pr conditions |