The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-08-29
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AkAssnx it's ability to yield good and
reasonabl quick profit on a sensible in
Vestment, have made 1902 the best year
for all kinds of business and trade in the.
big territory which Minneapolis serves as,
8 market.
to one center, so all conditions this year
have pointed to a new and higher COM
mercial record in the northwestern states.
The crop Of 1901 furnished advanced
ground from which to carry on the con-
quests of this year. The final breaking
down of old prejudice and the Increased
confidence in northwestern investments
and business ventures not only brought
Increased capital into this field. but also
brought thousands of people here in
search of homes.
General prosperity has contributed Its
share in a good supply Of capital and
money at rate Of interest much lower
than the northwest few years ago was
In the habit of paying. In addition to the
prosperity of the man already located or
the soil, the new settler has added mate.
rally to the wealth of the country by
cash and effects brought from the south
and east. The country bank has plenty
Of money, the country merchant has q
good trade, all classes Of people have
plenty of employment. and results gener-
ally make it the best year which this Sec
ton of the United States has ever en-
5oyed.
Railroad Earnings Large.
There Is no better weather vane Of
business than the earnings OF the rail-
roads. These arteries OF commerce are
the first to feel the effects of a general
depression, the loss of portion of the
crop or any other influence having an adj
verse effect upon the profits and pros
, perity of the country which they serve.
On the other hand good crops, good times,
good prices, and renewed faith in an ener-
getic people tell just as strong story In
Increased earnings. This has been the
best year which northwestern railroads
have ever had. President James j. Hill
of the Northern Securities company points
to a still better year in the twelve months
to come when he places the earnings OF
the Great Northern and Northern Pacific
ut $100,000.000, a considerable increase
over the earnings Of those roads this
year. as much Of gain as was the re-
narkable margin scored by them this year
over their gross revenue Of the year pre-
vious. It was not long ago that a pre-
dictton Of SIC, 000,0 gross revenue for
the Great Northern or Northern Pacific
was considered result probable only in
the far distant future. Northwestern
development has been so rapid as to make
this record but milestone from which to
measure in the conquests Of the future.
The rapid increase in the earnings o,
Sno 500 IS a Iamlllar story. IneSe roads
are thoroughly northwestern roads as they
run through those sections on which
northwestern business centers depend fol-
support. This has been record breaking
year In financial results with them and az
It has been with them so has 1t been with
the communities from which they collec
freight rates and passenger fares.
State Treasures Overflow.
Probably no better indication Of wha,
the past year has done for the northwest
can be found than In the financial condi.
ton Of the states which divide the donna ir
OF this section Of the country. Take:
have rolled into the treasures Of tn,
states with much less coaxing or driving
than has ever been the case. This Is es
pecially true in the Dalotas, which, be
ing newer country than Minnesota, hav
more recently emerged from tina
dark experience Of every common
wealth which has. to do wit
en unusually long delinquent Ia
roll. But g. few years ago the stat
of North Dakota was obliged to refus
the usual appropriation to some of 1t
state institutions, including the state uni
versity. Some Of these were kept ope
by funds subscribed by private citizens
Although financially sound. North >Da