Show PURCHASE OF SIlVER BULLION The house bouse committee on oa bank ItS bank hg and currency has before tt it the rittman Pittman bill authorizing the purchase of o of ounces of American silver at 1 t an ounce n If the measure does not limit the amount ot of each purchase and u- u ex el extend tend the purchases over o a period of time timo It will wilt be possible for tor or one big bg company to otter the greater part of ot the total amount called for tor or The bill has merit and should pass but safeguards must roust be in- in insisted In Insisted elated on to protect the thc small pro ot of the while metal BUSINESS FOR YEAR 1927 Financial reviews ot of the the year 1926 1026 are favorable and the dictions dictions for tor 1927 1921 while given giyen with witha a word ot of o caution are encourage encouraging ing lug Bradstreets Bradstreet's In com commenting t n on present conditions sayE says Taken as a whole the year 1926 showed some net progress upward from Crom the years ears recently precedinG The stock market In January and February disclosed great s strength and surprised many by the rally shown shon after aCter the heavy break of ot March in in which seven months advances some Instances were caneel canceled d to the new high levels touched In July and ana thence i forward to the close and or ot some Bom bad effects on the deflation o of th the Florida and other land specula specula- speculation lion tion was likewise a subject for tor congratulation The steel a and d ce- ce cement ment industries the automobile business the electrical industry and the building and trades show show- showed showed ed wonderful strength and evinced an unexpected ability to avoid overproduction which Is and has been the bugbear of American Sn- Sn Industry Industry since it was demonstrated that Industry as a result of ot war war- wartime wartime wartime time accretions Is apparently c C- C pablo pable of satisfying a larger de de- de demand demand mand than it seems possible to create despite the high earning ability and spending power ot of o the th people of ot this country Industry In tact fact act seemed to have gone for tor- forward orward ward at a studied pace and with In the automobile I trade excepted with a keen ye- ye re I gard tor for avoiding the me pitfalls or of overproduction The matter of o trade lion tion has on theother the other other hand band han shown that some puzzling problems problems lems are still sUli as In recent years the wholesalers and retail retail- ere era of ot the country There is no escaping tho the conclusion that the development of ot chain stores mall order houses and chain depart depart- department department ment stores with their natural reaching out for tor or business aided no doubt by the Immense devel devel- devel opulent of ot the motor Industry in inUs Us its application to buying and dis- dis dl has increased greatly the natural competition facing the small retailer and jobber and even large wholesalers which has certainly not been mitigated by mouth to the hand buying noted for tor years ears past The gains shown In nearly every ery month by the chain stores tores order mall and large do- do stores contrast with the far less leu satisfactory aa reports r ye- ye there there are few tew ew actual sta from available available from smaller dealers Even today the returns of wholesale trade are according to federal reserve bank reports not so large as In 1919 1119 seven seve e C e irs lIS 1 ago ato when however prices price rere iere much higher The advance or of the he Installment business be- be beame tame ame more marked during the ear and arguments to for or and against the spread of o the practice into all lines ot of o trade filled the tho and anti trade journal Journals Summing up the business out out- luok In the following paragraph acknowledge acknowledges it is ii dif dlf- Si to m make ke an accurate sl 51 I It la it hard to set sot limits In this country to the earning power and 1 spending ability of ot a a people large Jarge numbers of o whom regard nothing as too ex e ep I p In or luxurious for every every- everyday ever day lay purpose and use It may be that prophecy has gone tono goi astray too often in the past to encourage hard bard and prediction as to the tho course o business in the next 12 months even the boldest prophets conan confining log ing themselves to six alx months forecasts With the trend priceS price of many things In a downward downward ward direction it H would seem liS as asis is 18 domestic certainly trade would be likely to go where price Inducements other things boo be boIng ig i equal are most attractive This it If 1 no other reason wilt will probably justify It U not not Indeed en enforce force torce In Sit 1927 1921 a continuance Of the same studied steps stepa in Indus Industry try and the no less intense com competition petition In trade distribution vie vIs u ended Ible in the year r just lust |