Current Situation

The stock market, despite its relative inactivity, nevertheless proved firmer, and thereby imparted an air of confidence in financial circles temporarily lacking in recent weeks. Resumption of building operations on a more moderate scale has also cheered the business community, and already autumn buying is awaited with distinct optimism.

But the more cheerful view of business now taken is still gravely tempered with caution. The impending German collapse, the agricultural depression and the likelihood of radical and deeply harmful legislation in Washington next winter continue to heavily overhang the markets.

As a sign of the times, it is reported that seashore cottages do not rent quite so readily this summer as last, and reckless spending is in little evidence save among bricklayers, carpenters, etc. Money is easy, though rates are firm.