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Show ' THE BUSINESS OUTLOOK ENCOURAGING , Corn and cotton have been damaged dam-aged by unfavorable weather and the next government report is expected to 6how a big deterioration in the I crop reports, but, taking crop Injuries at their worst, no calamity has occurred, oc-curred, only disappointment in early ' hope6. That is the opinion of Henry Clews i who. in his bank letter, says: "Two effects will be. to bring better bet-ter prices for these staples to grow- ers in other sections and to lesson the demand for money to move crop I In the Injured districts; also a smal- ler traffic for the railroads." Even tariff changes are not viewed with alarm by Clews, who, while admitting ad-mitting that the most important influence in-fluence In our foreign trade for th ' next few months will be the tariff, concludes: "Our manufacturers have ben energetically en-ergetically adjusting themselves to I the new condition; so much so, in facL that foreign manufacturers 6how little enthusiasm over our tariff changes and do not expect to gain any permanent foothold for their i wares in this market. On the contrary con-trary many of them, as they see our manufacturer vigorously adjusting themselves to the lower schedules, fear that before long they will be j obliged to meet a keener American i competition In foreign markets A I few interests may be injured by ex-I ex-I treme cuts, but these will be ln-j ln-j finltesimal compared with those af-' af-' fected by the stimulus to trade which will follow and which will gratify many thus far not heard from American Amer-ican skill and enterprise will surely j give a first class account of Itself in the long run. and tariff scares may now as well be eliminated In business busi-ness calculations of the future. "The financial undertone 6hows steady Improvement. In this, as In all the foreign markets, monetary improvement im-provement Is steadily progressing, i Business Is consequently improving, land a decidedly better inestment demand de-mand i6 springing up. which Is quite as much In evidence in the foreign markets as it has been here. Speculative Specu-lative operations have, of course, been restrained by monetary limitations on both sides of the Atlantic. Just now the markets of the world are unusually unusual-ly sympathetic and in close accord The demand for new enpltal though urgent. Is still held In abeyanco, only thn most Important needs being satisfied sat-isfied Serretary MeAdoo's plans for relieving the money market are working work-ing out hlghlv satisfactorily At Stft and west there is no longer any fear of monetary' stringency; and trade beyond the Alleghanles. though spotty, spot-ty, Is showing general improvement Both trade and Industry show symptoms symp-toms of revival. Railroad earnings have been more liberal, though traffic traf-fic at the moment Is affected by n tendency to hold grain for higher prices." oo |