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Show BUSINESS FOR THE COUNTRY Chicago A.ug 7 General business in this country is showing a degree of confidence and courage that is both reassuring and remarkable, In view of the rather strained credit situation abroad. This confidence and courage all through the middle west, and In fact the entire United States. Is generally gen-erally accepted as indicative of a sound business situation. The most striking feature of the adlces to the 'Continental and Commercial .National bank of Chicago, referring to the I agricultural prospects and business outlook, Is the absence of pessimism In face of a rather high and tight money market This is due, no doubt, to the ex-pei ex-pei tut ion of a bountiful crop production, produc-tion, low stocks of merchandise In the hands of manufacturer and retailer, retail-er, satisfactory collections, and the wpII employed labor situation Coupled with these has been an encouraging ' increase in railroad earnings, a de-elopment de-elopment tnat has helped dispel some of the gloom which has hovered hov-ered over the railroad situation since the refusal of the interstate commerce j commission to grant the transportation transporta-tion companies permission to Increase rates to a moderate degree in order to offset the increased cost of operation. oper-ation. Another encouraging sign has been the heavier exports of grain and other commodities, which have contributed I liberally to transportation earnings. J and to the building up of a credit balance abroad as a bulwark to our hanking situation. Nor does this disposition dis-position to facilitate the marketing and exporting of the new crop show signs of abatement. This is slow l contributing toward a reduction of loans at the banks, and of Indebtedness Indebted-ness in mercantile lines For a tew months following the big crops of 1912 business was obnor-mally obnor-mally brisk, but this did not continue! long enough to produce an over-extended mercantile condition. and within the past few weeks there ha.-i ( been R healthy retrenchment to a normal volume. Therefore, in gen-! oral, fundamental business conditions all over the United States are held to be good, the one deterring Influence Influ-ence being the money market, which reflects a scarclt of capital and has caused a rather strained credit situa-tion situa-tion thai is world-wide, and becomes! acute only when the demands for the greater use of credit and money exceed ex-ceed the ordinary olume The seasonal sea-sonal preparation for the movement of the crops has already been reflected reflect-ed by Interest rates In this country, and while there are no signs of an abatement In the demand for money or an easing in rates, the very fact that everybodv Is on the watch uiirti i- conservative in the demand for ( redit should contribute much In averting a money stringency this; autumn. In fact, it is possible that In the period of preparation for hc autumn requirements the greatest strain has been experienced Broadly speaking, the crop outlook averages well, and the production from the soil promises, at least, to be up tn the average, in the aggregate aggre-gate There are always exceptions due to local conditions and affecting Individual crops, but taking the agricultural agri-cultural situation as a whole, the indications in-dications point clearly to a general production that will largely orfset in value the shortages In individual crops In addition to the major , rope the fruit production promise well In northern states, but lack of moisture has dimmed the prospects of the southwest The quantity or peaches and apples will b under the average. Manufacturing as a whole is in good shape. Most concerns have plenty of business, though of course there has been the usual letdown in volume and activity during the summer sum-mer months. The lumber Industry land mining may be called fair, though I somewhat spotted as to locality build -ling operations have proceeded slightly slight-ly below the ordinary activity, but the Industrial situation as a whole seems to Ik? good. In fact, the correspondence cor-respondence to the Continental and Commercial National bank indicates hat manufacturing industries, commercial com-mercial establishment and agricultural agricul-tural resources of the west were never in a healthier condition, excepting, of course, those lines of trade which depend de-pend almost wholly upon the railroads for orders |