The daily silver state. [volume] (Winnemucca, Nev.) 1903-1907, 1903-09-08
TRADING IS
CARRIED ON
CAUTIOUSLY
Comprehensive Review Shows
that Tines are Good and
Money Not Scarce
CROPSBRINGING GOODPRlCES
Markets That Have Shown De.
preston are Recovering In
the Midst of Good Times"


Current conditions in trade continue
cheerful. The feeling of pessimism
throughout the country, so pronounced
during the past few weeks, and which
lad begun to unduly affect business
has largely passed away as the coun-
try realizes that there is nothing In
sight to get frightened over. But con-
seryatism has asserted itself and at
present is the ruling feature all over
the land. There is no longer any
perturbation. Wall street has had its
srasm and after the great banking in
terests had assured the commercial
public that conditions were sound il
only left alone to develop on normal
lines, confidence began to be restored.
We see now that we overdid it for
several years. Dun's weekly review of
the situation hits it exactly when it
says: "A startling contrast is shown
when comparison is made with the
corresponding week of last year in
trade Prices were then tending up
ward in many branches of industry,
new business was coming forward
more rapidly than it had been and in
activity and high prices were surpass-
ed. Later events have demonstrated
that the situation was unhealthy and
speculative excesses have been follow
ed by reaction and readjustment.
Conservatism was then the exception;
l. is now the rule. Prospects for
steady gains and their maintenance
are brighter under the present sys-
TEN. Legitimate business will continue
to suffer from speculation and tho
high rate for exchange will initiate
against industrial expansion, but in
the long run a larger degree of eau
tior should prove beneficial"
The leading features of last week
we're more favorable crop develop
ments. less talk of coming scarcity
of money in the regular fall move
ment to supply means for moving the
crops and a visible expansion in fall
trade. With the exception of the cot
ton and iron industries, the manu-
lines report orders sufficient
to keep the mills we'll employed.
Lower prices have checked the pro-
duction of iron and steel, and a larger
crop of cotton than expected has led
to lower prices for this important
product and renders buyers cautious
Labor strikes in the woolen industry
have lately unsettled that market both
in the west and in the east. but the
latter markets are quoted firm with
a demand sufficient to absorb the out
put. The footwear factories of New
England are doing very well, though
hides and leather are weak, the latter
kept uncertion by some labor friction.
The west reports a firm lumber mar
ket and the lumber trade of the Pa
cific coast is active, with good pros
poets of continuing so. Although the
rush season in railroading has only
Just commenced there Is already TAX
Of car scarcity and eongested trafhe
at number of points, and the railway
show gains of 9.3 per cent
over 1901. 1t must be borne in mind.
however, that increased wages and
cost of material cut down the net
earnings considerably from the gross
showing.
The great markets all report the
influx of large numbers of buyers.
which would not be the case were bus
mess at all dull. The bank clearings
show loss of 11.2 per cent from last
year, but all the important cities ex-
cept New York and Baltimore exhibit
gains, running as high as 1913 per cent
at Chicago. The aggregate clearinss,
curiously enough. stand at about the
returns of a week ago, being $1,659.-
900 900. 1t will be remembered that
there was sudden drop in these ag-
gregate clearings during the preceding
week and they have not yet recovered.
though there is no further shrinkage.
The failures for the week were 191,
against 200 last year. and were CHIEFLY
confined to small financial institutions
and manufactures. A good sign was
recovery in the Chicago provision
market toward the close Of the week,
Continued on page ~