Nation On Right Road Still Far From Complete
Washington report analyzes U.S. economic strain from excess productive capacity, slow consumption growth, and caution on tariffs. Notes a 1907 financial readjustment ongoing, with iron and steel facing price pressures, bank caution, and a general pullback in security markets. Mentions rail expansion, industrial capacity growth, and the need for consumption to catch up before sustained prosperity.
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Outlook for Progress and Trade Balance Improvement
The article argues the country’s foreign trade has risen to record levels despite luxuries imports, suggesting that reduced luxury imports could improve the trade balance. It notes business awaits railway rate decisions and antitrust rulings, but predicts adaptation and progress as money loosens globally, boosting bond markets and wealth.
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GHEAPER STEEL PRICES SEEN LIKELY TO DROP SOON
New York December 4 A steel conference signals weak market conditions and expectations of lower prices for plain material while demand for rail and fabricated steel rises. November contracts show 300000 tons in pig iron and 50000 tons of fabricated steel with December tonnage likely up.
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Railhoads
Pennsylvania
London Markets Hold Steady Amid Election Watch
London traders await election results as Bank of England cuts its discount rate to 4.5 percent, sparking surprise and cautious optimism about future stability. Berlin and Paris mood softens as American and British policy shift ripple through stocks, rails, and metals before a May Confederate reunion in Little Rock.
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