Show Secy Hoover Right Business Is Better I Selling Orgy on Stock Exchange Is Mere Mere Merc Flurry for Basic Condition in U S Is Sound and Improved Over Year Ago By HARDEN COLFAX I Special Correspondent of The Examiner Standard Standard Copyright 1926 Consoli Consolidated ate Tress Press Association March G- G 6 S Secretary r t rY Hoover r replied plied VI toan to an i Jq liry s sto to his opinion of the effect upon general geneia t mi midweek k recessions r cess ons 11 on the N New York New V Y rk stock i market with I know lenow of f f th t has hap hap- happ happened p ned t to decrease the intrinsic value ot of ot anything in iii the Waited United States he not only ony expressed the general view of ot the administration but he he- implied a 3 confidence itt in the tIie economic situation which is amply supported b by tried welt business in indicators in- in The fact Is 15 I that business Is bet better t ter r than It was at the same period last year and year and 1925 has not faded too far Into the th past pait to recall with with- without with without out hUt lt was a a pretty good goodyear year taking all In la and all all and there tere ts s no Immediate prospect of ot a break What happened In the stock Market this week was the natural result of heavy he heavy vy speculation The I break reak In the th prices price of a wide list of stocks had nothing whatever to todo toSo do 10 with the Intrinsic values of these So tar br aj as a the real values value ot of these theae stocks was as concerned It was no l less as when hen the th price went than It was when the prIce was up SELLING ORGY OnGY I The Th stock market saw ft a selling orgy Tuesday Yet the th railroad sent lent out Just as many trains and Just as many cars cari ar Wednes Wednesday ednes day when ahen h n the stock was lower as they did Monday when len the th shares share were the Industries of the the country turned out Just as n much of their commodities on one day Ra as Rat t they hey did another The Th Just as much muc service Thera Is a ft danger dancer always of con con con- confusing con fusing prIce pric with value value-It It Is I s to bo be bonote note noted that the th secretary of ot com corn commerce merce In giving his hi view of the situation spoke spoil of value ton The Th administration at Washing ton has haa been viewIng excessive In the stock mock market wIth apprehension of Just juat this week Secretary I Mellon rather believes the th break In stock prIces price will help the th Zen ten ten-cral en eral era economic situation If It It halts this excessive speculation Production Is higher than tItan It was wasa a year ago aco Distribution Is II IsI I Is negil- negil Ible Stocks Stocks-of elble Stock of goods are not heavy And there ther are no signs of In commodities Early reports report to government de- de deparI de department parI ments show how a larger mall mail order In February than In the same month last year Business failures failure Increased In number but In liabilities On February 24 4 total loans and H of 71 federal reserve banks banka were l compared to report report- reported ed d by 71 mener member banks In the corresponding week eek of last year lar total Investments were 11 m too jOO compared to Time deposits deposit showed the th- th substantial Increase of In the comparison O BETTER ITTEn The Tho Th Index of the th department ot of commerce shows production In January at per per nt ent ent of t the th 1911 1919 monthly average as a compared with In January IUS 1925 Commodity stocks In In Jan Jan- January Jan January uary had the th Index number 17 as a to the year before 1 Unfilled orders order for tor Iron and steel were Indexed at U 48 compared to toso so O an unfilled orders order for building were ere r compared to toUS sales eles of ordinary life lit incur incur- incurance ance by 81 11 companies Increased Comparing the two ml- ml Initial Ini Initial months me Building Construction Is even higher hither than last year con con- contracts con contract tracts tract awarded warded In as 1 g states totaled In January as corn com com compared pared to In the same month of 1125 1925 rho To federal reserve boa board d reo re 1 Continued d On lago Iaco SEC HOOVER RIGHT BUSINESS IS BETTER Continued Fro Front From Page Pace One ports port January wholesale trade trad about the th same sam IlS as a that of 01 a year ear ago a o with Inventories of oC department stores slightly silently greater CUSTOMS RECEIPTS Custom Customs receipts receipt In were more than 3 per cent greater than In February IMS 1975 even with one lell lea les business day Analysis of torel foreign n trade trad for lor January Iho that show that the greatest proportionate gain gainIn lit In Import was In is crude materials demonstrating factories torie that American fac- fac tories continue to draw heavily on foreign n sources for lor raw supplies while while the greatest re tc t proportionate tI nate Inv In Increase crease erean In exports export was In finished manufacture These are r elements In the busl buel nees to be bo watched as al- al always al always ways but It will take tak much more than the mere rn re halt e of f a tp cul movement In the stock market to affect tec- tec seriously the present run undo funda fundamental la mental soundness of oC the economic condition of ot the United States tates State |