Northern tribune. [volume] (Cheboygan, Mich.) 1875-1885, 1885-03-05
NORTHERN TRIBUNE.
THURSDAY, MARCH 5, 1885.
Growing Signs of Promise.
From Philadelphia Press.

From Philadelphia Press.
The sudden reduction In the New York
bank reserve last week, whose pOssibil
ity was mentioned In these columns q
week ago, Is not the only sign now ap-
parent that the normal conditions Of an
average prosperity are NOW slowly re-
turning. The movement and sale of
merchandise is still to sluggish and
shows to many signs Of ending before il
has we'll begun to permit as to build
much upon the progress. 1t may be set
down as certain that now as in the past
no complete revival is possible until an
increased acreaee"Of our great staples
produces the overlooking crop of years
above the average In some season when
the demand from Europe is swollen by
failing crops. These have breA the con
ditiOns precedent of the Blooms" in the
past, With cur present national enyl-
ronment, they are not likely to appear
without them.
Bnt enough of these causes now exist
to lead dropping Industries to revive.
The past two years have sash u addi-
ton of one acrs In twslva TO The area
under wheat. Had the yield last year
boen as large, or prOportioaately as ia
1880 or 1882 our wheat crop would have
been 2S,000,000 bushels larger than it
was, an addition of nearly fifth to our
surplus and mere than this to our ex-
ports. With the growth Of acreage con-
tinuing. single big crop this year will
WORK ike magic. The advance last year
has already registered its effects in rail
road earnings. In spite of lOsal passen-
ger rates of cent n mile, thu cOmpeti
tion OF the West Shore ana reckless cuts
in all lines. the New York CantraI earn
ed its reduced dividend for the last quar-
ter of 1884 This is tho best quarter of
the year, and the better showing is due
chiefly to economy and low prices for
railroad supplies; but this in it's turn is
proof that prices have fallen and pro Ats
are possible.
Ii is of more consequence that the
elaborate table of railroad earnings pub
lished elsewhere, shows, on 20 lines and
81 600 miles OF road, nearly half tha
country, an advance of $S25,000 in gross
earnings, or As per cent on tho total.
After the desOlata drop in these earnings
through 1884, down TO November, it is
highly gratifying TO find the improve
ment in December continued in January
and reflected in charging manufactu-
res and widening sales. This improve
ment is largest in tho Northwestern
group of roads, lines little and big,
which will be raised farther by the next
tidal wave ihas any other, because there
is in progress the largest and most rap
id addsti0n to our crop area. The al
vance is also apparent ia the border
Southern states, a region in which Mis-
sral industries are being Developed. and
it appears pretty evenly over tho rest OF
the country. 1t is not surprising that.
with this showing in prospect the stock
market has been operated for rise, for
to tie addition in gross earnings must
be added the very considerable decrease
in operating expenses, due to the fact
that labor, metals. lumber and coal still
hang at tho lowest igares of 1884,
Prices arc not liable To improve un-
less demand swells. OF this, the week
has given no sign. Pig iron production
is four-ffths of last year; cotton con
sumption by mills nine-tenths, and BOs-
ton sales of boots and shoes-ihs largest
market sight-ninths. These each point
to shrunken production which still
leaves stocks large, Wool sales at Bos-
ton are very nearly the only movement
of staple larger than last year; but
this is because our strikers here are
sending trade away, to their own loss.