The herald., 1898-11-10
THE GREAT REVIVAL IN BUSINESS.
Leading Men in Various Lines Assert That We Are the
Verge Of an Era of Industrial
Expansion.

I ton Exchange am sure the farming
class is in much better condition than
1t was last year. They will be able to
hold their crops for better prices than
those now prevailing. Taking 1t all in
all, should say the outlook for them
is brighter.
H. 8. Kerr OF Redmond, Kerr & Co.,
The placing Of the government loan
has been responsible for hardening
In the money markell merely tenn
porary condition, Of course. Business
Is good, and will be better in the fu-
ture.
Henry W. Connor, President Chase
National Bank-I am just home from
trip through the northwest In that
section found general business excel
lent. In st. Paul. for instance, the
wholesale merchants report the best
season in years, while the local banks
are amply supplied with funds.
Frank Greene. Editor of Bradstreet's
The cotton crop is one of the largest
ever gathered. This has forced down
the prices Of cotton per pound, but the
size Of the crop more than covers this
loss to the producer. The strike of the
Welsh miners, which Is computed to
have cost England in the neighbor-
hood of $30, 0,000.0 900, has induced large
shipments Of West Virginia coal to
South Africa and South American
ports where, heretofore, the Welsh
article has controlled the market. un-
derstand that an effort will be made
to keep this trade. or at least a part Of
1t. The wheat crop is estimated at
700, ,000.0 900 bushels-the largest in our
history. Eight million more acres were
planted last year than the year before.
I think one is safe in predicting good
times; indeed they are already here.
The present tightness in the money
market. which has been rather hard
on light-waisted operators, is a local
condition. The west and south have
not felt the stringency, and as soon as
the government bonds are placed, the
money temporarily withdrawn will
flow back into the ordinary channels.
Frank ]. Miller Of the American Ma
chinist-I spent four months abroad
last summer investigating the condi-
tions of the foreign market. I found
American-made tools and machines
commanding the highest prices of any.
They are second to none; the best in
the world, in fact. The demand for
skilled labor Is active; no shops are
idle. The war at first caused an acute
demand in the machine trade, but It Is
back on a normal basis now. Manu-
facturers are seeing the end Of their
government contracts.
The Editor Of the Iron Age has this
to say of the state Of the iron mar
ket: 1.-THE product Of our furnaces Is
measured by the million tons. The ex-
ira demand occasioned by the war was
an entirely unimportant factor in the
industry. The years output would
cover all the ships in the world.
America is now making one million
tons per month. or its output Is at the
rate Of twelve million tons per year.
This may be compared with the pro-
duct Of seven million tons in 1898 and
nine million tons last year. There are
no modern furnaces idle-those that
are not in operation are out of date,
and that Is why they have been closed
down. It Is true. very few new plants
are being opened, the tendency Of late
has been to enlarge and improve those
already in use. Foreign shipments of
pig iron and plate have been heavy,
| while the home trade has been very
large. There has been quite q demand
| for labor, and In many districts this
] demand has been in excess Of the
supply. There has been no advance in
wages, however; that Is matter that
is adjusted on what is known as the
sliding scale. AS the price Of the pro-
duct advances, wages move up. A
minimum figure was chosen, which is
| actually higher than the price Of the
product at the present time"
r. G. Dun-There is ample evidence
that the business Of the country is
very large. Railway returns and trade
reports indicate that much more busi-
ness Is being done now than in the
best of past years, though it may be
with less profit
AA