OCR Text |
Show WHY BUSINESS CONTINUES GOOD. Notwithstanding: labor disorders and the unrest among: the wage enrncrs, financial writers continue to assert that tho outlook for business during this year is most favorr.ble. One of the best authorities, authori-ties, witing from New York to the Standard, says: "Labor troubles are creating a good deal of uneasiness in corporation cor-poration circles, especially as the season is approaching when restlessness restless-ness of this character is usually most active. In a number of cases concessions have beon made to employes, but the violence shown in Philadelphia naturally arouses fears of possible disturbances elsewhere. else-where. "It is not forgotten also that the Standard Oil and tobacco c.v;-s are still before the supreme court, and that a decision may be anticipated at almost any time in the next few months. There is less fear of r drastic opinion than a few months ago, but these two cases are in any event important elements of uncertainty. Some further hesitation has been induced by sensational reports of damage dam-age to the winter wheat crop, but as these prove to havo been much exaggerated they may be dismissed; it being too soon to form any reliable idea as to the condition of the winter wheat crop. "When it comes to considering the favorable features the balance bal-ance appears to be largely on the side of the latter. The political tkie3 are brightening, and unreasoning hostility to corporations is slowly abating. ''Business conditions are generally satisfactory, although there is some slight cessation of activity in certain lines, as is usual at this period of the year before the spring trade sets in. Dry goods buyers buy-ers are especially conservative for the reason that distributors refuse to stock up freely at present high prices Both cotton and woolen goods have shown1 a slight weakening in values ; which it need hardly hard-ly be said is unsatisfactory to manufacturers, especially in view of the present small margin between raw materials and finished product and the prospect of labor difficulties. "In the iron trade, however, the better trade observed a week ago continues. The railroads are already appearing as more active buyers and, with the disappearance of winter, construction work will revive and result in a better demand for all kinds of building materials. There is little doubt that the iron trade has turned the corner and will enjoy several months of continued activity." The money market is always an important factor in shaping business and hence the statement that money is easy is reassuring. The foreign money markets are easy and in sound condition, all of which will powerfully tend to encourage worldwide recovery. Our foreign trade is still a source of some dissatisfaction because of large imports and small exports, and this situation is not likely to be corrected while the price level in the United States is so much above that abroad. Either foreign prices must rise to a closer parity with ours, or our own prices must recede, which is hardly to be expected nntil abundance takes the place of scarcity. The treasury situation is better than at one time anticipated. Customs receipts have been heavy and returns from the corporation tax are likely to exceed early estimates. This delays an issue of a government loan, though should the corporation tax be declared unconstitutional, the treasury would be short the amount collected." |