The Roswell daily record. [volume] (Roswell, N.M.) 1903-current, 1903-10-12
THE SITUATION.
Clipping From the Chicago Apparel

place January 1st is significant of
conditions. The same notice has
been posted on October 1st in some
years as precautionary measure,
but no changes were made. 1t is
hoped that by the time the first of
the year comes around conditions
will be such that there will be again
no change. At the present time
money matters and labor questions
continue perplexing. Collections,
however, are generally fair, and ex
cept in chronic places New York,
etc. the comparatively few labor
troubles are being amicably settled.
AS covering this last very important
point it should be pointed out that
with either an overproduction or an
underconsumption many plants are
put out of commission, inasmuch as
ter equipped. The result is they
shut down. This brings about, in
many instances. natural adjust
ment of wages. The workmen see
that orders are refused because they
cannot be filed at a profit, and in
the present temper of capital little
parleying is being done. The own
ers are afraid of the effect of a dis
cussion and prefer to shut down. 1t
may be this reason which has stayed
the hands of the unions in many man
ufacturing lines and caused them re-
Gently to refrain from ordering
strikes, and to wait another season.
Many plants shut down for vacations
this summer which never did so be-
| fore, and the real reason for doing
this is not known yet-whether to
warn labor or because of tight mon
ey or to guard against an overproduc-
ton ..
| The result, however, has been
good. All have rested. and rest is
a great thing for Americans. When
| they wake up they have, new ideas.
|
they take hold and develop afresh,
greater than ever. This has made
the nation.
Iron the Barometer. #
| The decision at the New York con-
ference of Iron Manufacturers, Sep
tember 80, to reduce their output 20
per cent pro rata, was the first pub
| lie recognition of anything like over
production in the American iron
trade. 1t was not, however, the first
curtailment of production. Prices for
iron began to fall in April; since then
the open price has gone from $24 .25
to ST per ton. Output of iron in
May was 1,755,966 tons, the high rec.
ord of our history. In June it declin-
ed to 1,716,906, in July to 1,59O,6l6.
In August, however, increase began
again, the total rising to 1,616,643, in
spite of fall of IS cents per ton.
The restrictive agreement was then
put under way. The current price
of ST per ton, though far below the
$24.25 of last April, is above the
$14.75 of the autumn of 1901 The
Crops.-Frosts have not done the
damage predicted, and while the full
outturn of corn and cotton is not
yet positively known, with prevail
ing high prices which growers will
get for the large harvest now prac-
tically assured, the agricultural Sec
tions have another year of plenty be-
fore them.
Money.-Ths figures of the nation.
al banks, given out by the Comp
troller of the Currency September 80,
show an increase of loans for the
whole country of $201, ,319 ,291, com.
pared with the previous year. Last
year, however, 1901 national banks
reported to the Comptroller; this
year the operations of more than
5000 institutions are covered by the
returns S& ii&'
In all sections business men have
needed more money than ever to
keep their enterprises oiled, and ev-
eryone needing a little more of it
makes. it worth more. Except the
Spectators, it looks now as if the
rest of us conld get what each le-
ultimately requires. fEa# i.8Af
The reorganizations of the inflated
industrial companies should not hurt
any sensible business man. Water
must seek its own level 1t is fast
doing this on the. stock exchanges.
That it is water is self-evident from
the few failures thus far reported. If
"the s3.00O,O00, 900 shrinkage" was