Arizona weekly citizen., 1884-02-09
CONDITION or TRADE AND ARIzoNAs PRos-
 pFCTg

CONDITION or TRADE AND ARIzoEA's PROS.
 PECTs.
 There does not seem to be any good
 grounds for the fears of some that We
 are on the eve of hard times. During
 the past few months the trust compan-
 les Of New York have been loaded down
 with money. While trade has been un-
 usually dull, large amounts of idle cash
 has continued to accumulate The sur
 plus reserve of New York banks amounts
 to about S20,0OO,OOO to s9,4OO.OO0 year
 ago. Interior banks, of the country are
 equally overloaded with money which
 they have no use for. Much of this
 money has been stored away in the bank
 vaults by men who have believed a crash
 was coming, which has greatly helped on
 the dull state of the present winters trade. But they begin to realize that they acted unwisely, and some of these men have begun to withdraw their mon ey from the banks and put it into active use Within the past month pig iron as found itself firm where it had long been dull and declining. Some south ern furnaces, which are going long way towards supplying the southwestern and western markets, are r.fusing further orders at present, believing that prices are shortly to advance. The bears ID wheat opened their campaign six months ago. But armed with the outlook of short'crop at home and abroad the bulls for time beloved them down and it was with difficulty they could stand their ground. Wheat was forced down to SlO3, when it should have been SL20 For some eighteen years past the average annual crop of wheat Tn Europe has been about eleven hun dred million bushels. In 1883 it amounted to about ten hundred and sixty-six millions, and the year before to about twelve hundred and seventy mil lion bushels. Last year also the potato | crup of Central Europe was very heavy and India unusually productive. These facts account for the continued indiffer- | ence of European importing countries tO the anxiety of the United to sell its surplus stock of grain. But it Is be- | lieved that the grain market will im- prove, with the opening spring, and that We shall be able to get rid of our sur plus at moderate advance over present prices. Capitalists ss well ns men with small holdings will all soon learn that they were scared without cause, and be- gin to operate with their accustomed vigor with the opening of spring.
 Here in Arizona the outlook is very much more favorable than it was year ago. Then the Tombstone mines were threatened by the increased flow of water in the mines; there were no promising new mines being opened up, and then to add to the further dlsparagements of the sea- son. we had the Apache outbreak which damaged the terrItory beyond all calcula- ton. This season however, We begin with Eore hattering prospects. The Longtellow copper mines which have been worked under great disadvantages, have or will have very soon, railroad completed to the mines, which will enable the company to double or even luadruple the output of former years. The Tombstone mines have been cleared muSR 1i SPtf5 BattsP tsPa t6st SAHR s wei yra, make lid last. The Bisbee mines are ln ex' ,ellent condition and will make their nsd daI successful run. The same may be ,aid of the Silver King. Several new mlnes have been developed and are about ready to start up. The Ray Cop Der company will make a good record SO soon as the machinery IS up. The Verde and other companles in Yavapal county will greatly increase their yield over last year. The Esperanza company in this county will soon start uP, and the Total Wreck company may also be heard from soon, as excellent ore has been AouLu AAc Otu tth AAlhC NAAA " worked again. besides score of other mines and mills we could name, which will renew operations with more or less promise of success. To add to all this, we have the new Bonanza mines of the Ouiiotoa district in this county, the most promising that have ever been discov- cred in Arizona, and which have already | stimulated and strengthened mining | throughout the entire Territory. And this is not all Many thousands of horned cattle have been brought into the Territory during the past year, and more are coming. So, taking 1t alto gether, the outlook for the coming year is the most promising that We have ever had in Arizona.