The Hocking sentinel. [volume] (Logan, Ohio) 1871-1906, 1903-01-08
Chicago

trade been so large, never was there 4
more general report of satisfactory con-
iitions. Many new enterprises have been
launched and so large measure of sue
cess has attended as to surprise even the
most sanguine. Old firms have increased
their trade enormously, and many houses.
especially in the industrial field, have
lost identity in the process of consOlida-
ton so characteristic of the times. As
the country has prospered, so has Chi
cago prospered. The city has Increased
largely in population, the building rec
ord is excellent. the retail trade has
grown wonderfully, the jObbing interests
have expanded, and number of new
jobbing firms entered the field. When
the figures are compiled it will be found
that Chicago has increased he: impor-
tance largely.
SO many new records have been made
that lack of sp zee fOrbids an enurleration
here. Most important of all, perhaps,
in viewing the country as a whol>, Is the
result in iron, since iron is the barometer
of trade. In 1901 the country produced
the remarkable total of 15,SIS.UW tons
of pigiron, yet it is expected that the pro-
dnction for 1902 will exceed this by
100000 and show grand total in eA-
cess of 17.7OO,O0O tons.
If we turn to the railroads we find
that the construction of GUS miles OF
new road brings the present mileage of
the country to 2O3, 900 miles, and that in
the matter of new rolling stock every rec
ord was broken. the roads having added
to equipment 4.O7O locomotives and 1G4.-
541 cars. and yet. with this increase,
there is the old story of inability to han
die all the business offered. We have
assurance that the roads will continue
the policy of increasing equipment
through 1908 in the fact that the loco
motive and car building companies are
very heavily sold ahead. The railroads
have not been in haste to spend their
heavy earnings of the prosperous year,
and have been adding to surplus. until
as we turn into 1903 we find the largest
sums ever known in the strong boxes of
the roads, Two great systems, the
Milwaukee and the Atchison, are carry
ing an excess of $2O,OOO,OOO each, and
twenty-six leading roads will carry over
in all about S165, 100000. The bulk of
this will go eventually for new lires, or
ucN ph oiu
lines.
The leading feature possible of evil
Interpretation is the fact that last year
we bought much more abroad than we
sold. although this is by no means the
unfavorable feature that superficial
view might indicate. In 1900 we had cx-
ported 81 ,3S3. .O79 bushels of corn to late.
This fell to 2O.55O,245 in 1901, and so
far in 1902 we have exported only 8. 1885,
SIS. We simply have not had surplus
of corn to sell. But from now on We
should wipe out this unfavorable show
ing. and the fact that this week we sent
out 1.5O2.5j bushels, against 1850
bushels in the corresponding week last
year, is an indication that we are start
ing in to do it. This one item. under nor
nal conditions, may swing the balance
the other way.
At the moment we are in period of
tight money in New York, which may
pass soon or may drag well into tine rev
year. But it is certain to pass finally.
and then we should be in for long Pc
riod of general good business.