| Show t L NATURAL N tendencies OF TEME ARE GOOD in their monthly market letter the experts of the national city bank of new york are spreading the glad tidings that while the months political developments in ili eusope have been disquieting to a certain extent they are regrettable only tor for the reason that the natural tendencies of 0 the present time are good the advance of agricultural prices has put new life into business in sections where depression has existed and tho the whole of business being done in ill most lines in all parts of the country is now very satisfactory As a rule prices of manufactures have not advanced enough to cover tile the advances in ili wages and raw materi al the result that complains of little or no profits are common the iron and steel industry is going at about 80 per cent capacity and making headway upon bookings accumulated during tho the strikes pig iron is lower its as a result of the re n of numerous furnaces and prices aro are weaker in several lines the future is hopefully viewed on the strength of buying by the railroads prospects for another year of activity in construction work better outlook for implements and great confidence among automobile manufacturers rs the textile industries have been stimulated by the rise of raw materials terl te rials als all of which are regarded in strong position and are more completely employed than tor for more than two years the strikes some of which have dragged along from I 1 last february to recent weeks have all been settled the outcome in most cases being victory for the employed emp loyes in the sense that they were successful in resisting the demands of the employers tor for wage reductions and return to the nine hour day the curtailment tail ment of 0 production resulting from the strikes has been an important factor in stiffening the price of cotton goods and the short crop of cotton has influenced dealers to buy more freely despite price advances at present the industry is active although producers still claim that goods have not risen enough to cover advancing costs and that their profits are being realized on raw material bought at lower than present prices on the whole the outlook for business during the winter months is good with a promise of continuance next spring providing developments in europe are not unfavorable and that the rise of prices in other lines does not offset the rise that has taken place in farm products the fact cannot be neglected that the prices of farm products aye are dependent upon Eu ropes taking its accustomed supplies and that prosperity cannot be maintained unless the farmer has a 4 share in ill it the census figures just published show persons actually living on farms in this country and there are a great many more living in towns directly de dependent t upon the trade with farmers it Is useless to expect that the cotton and woolen industries clothing and shoe i trades or any other of the leading industries will be able to run full 1 if these people are obliged to curtail their purchases pur chases as has been the case for the past year farm prod products acts have had an encouraging rise in ili recent weeks but the value of it Is being offset by the advances now taking place in which tho the farmers have to buy the improved conditions in ili the industries dus tries still are largely of the nature of a rally from the extreme depression and low production of 1921 yet many experienced 0 observers do not believe that industrial costs are low lov enough to furnish the basis for permanent prosperity |
