The daily silver state. [volume] (Winnemucca, Nev.) 1903-1907, 1903-11-11
CONSERVATISM NOW The wO D

So 49,
to trade. The word is o as freely
employed as that familiar phrase,
'~'undigested securities" was some
months age. One cannot pick up a
trade report without finding Con
servatism" emblazoned thereon. 1t is
for the time being a synonym for
quietude.
The fact is that business is still
~slackening OF throughout the coun-
try. and from all quarters reports of
larger supplies of goods and a dimin-
isned demand for them are being re-
ceiyed. This particularly applies to
iron and steel and their products,
which are as prominent o in this
respect as they were in the boom OF
the past few years, when the whole
country was surprised at the enor-
NOUS demand for iron in its varied
forms. The production OF the metal
has at last oyertaken the cOnsump-
ton. and mills continue to close here
and there. or suspend operations more
or less. Per contra, some mills have
reopened. Steel billets have been fur
Their cut 81 per ton, and it is hoped
that this radical reduction will result
in more business. Lumber is steady
as a whole but building operations
are decreasing throuhout the East and
West and structural work IS not
showing the activity of the past few
years. Coal mining, too, has appar-
entity received a check, and in some
states. notably Colorado, mines are
being closed down, while labor dis
~turbances. which usually accompany
dizziness in any particular line, are
breaking out in the mining districts.
Railroads operating east of the
Mississippi are carrying less tonnage
than a year ago, and but few COM
plants of scarcity of cars are now
heard. Food products are easing on,
provisions are quiet at Western pack
ing centers and the packers are apa-
thetic in supportin their local mark
cts. Trade in clothing is reported
quieter and behind last year. This
applies more [ o woolens, as the cot
ton manufacturing districts are send
ing in reports OF an inrease in ac-
tivity. 1t is interesting TO observe
that whereas cotton Jagged behind all
other lines during the recent era OF
unprecedented trade activity it is now
making the best showing when bus
mess is quieting down. In this con-
nection the South is sending in the
best reports at present instead of the
reverse. which characterized that re-
gion for several years. The activity
il Gotten is probably the cause of this.
Another noteworthy feature in this
connection is that while railway and
industrial stocks in Wall street have
beer going down the cotton market
has been going up, with pronounced
activity and buoyancy during the past
week.
The other staples show no import
AM CudlAsCS- " AAt oPEAACS " 49,
already mentioned applies to almost
all Hides are easing off in price and
the markets are quieter. Wool is dull
and stocks of raw are accumulating
somewhat. The tendency in grain is
downward rather than upward, though
the shrinkage is not especially mark
ed. The wholesalers and jobbers say
that the volume of trade is not up to
the average of the past four or five
years. But in spite of this diminu-
ton in the volume of business money
continues plentiful throughout the
country and thus far there is M ser
icus impairment noticeable in collec-
tons. Failures, however, have been
somewhat more numerous and larger
during the past month, although those
last week were numerically smaller,
being 246 against 279 during the cor
responding week last year. There
were several large suspensions in Col
orado. as mentioned above. but along
the Atlantic seaboard there were few
OF first Importance. The bank clear
ings OF the country were still behind
those OF 1902, the decrease for the
week being 1873 per cent, with the
gains and losses about equally dis
tributed among the largest cities.
Wall street stocks continue unset