Polk County observer. (Monmouth, Polk County, Or.) 1888-1927, 1903-08-07
THE PROSPERITY WAVE

Seldom does the second half Of a
calendar year open with such
promise for the country as does
that which begins this morning.
In New York City in the next few
days $147, 100000 will be distrib-
uted in dividends and interest by
the big corporations centering
there. A considerable addition will
be made to this total by Boston,
Philadelphia, Chicago, st. Louis
and the other big centers. That
$147, 100000 which New York is to
disburse is by far the largest sum
which has been distributed at the
beginning Of half year. The
amount which was given out at the
opening Of January, six months
ago, was $138, 100000, which broke
all records along to that time. 1t
is presumed that the exhibits made
by other business centers will also
surpass all previous records by
their. All this, however, has been
expected, and its occurrence does
not attract any special attention.
In all departments Of business
activity the record is high. The
railroads Of the country which re-
ported for June showed a gain in
gross earnings amounting to little
over 10 per cent in excess Of their
income in the same time in 1902.
The record was equally flattering
for the greater part of the half
year. Every month has shown
gain over the corresponding time
in 1902. 1t must be remembered
that this gain of 10 per cent for the
railroads in June over the same
time in 1902 means an immense
expansion, for the same roads in
June last year made a gain over
1901 and 1900. The governments
record, too, for thehalf year good,
the surplus for the entire fiscal
year which ended yesterday being
in the neighborhood Of $51 100000.
The output Of gold thus far in 1908
is so large that a gain for the entire
year over the big figures Of 1902 is
confidently looked for. Bank clear
ings also, despite the great decline
in speculation as compared with a
year ago, keep up to very high fig
ures. In all the important depart
ments of activity there is a notable
expansion. The reports of gains in
every department Of business come
as a pleasing supplement to the
records Of flood disaster which
were frequent few weeks ago.
Crop reports on the whole, are
favorable, and these will have an
important influence over the bust.
ness situation in the second half of
the year. Gold has been going out
of the country in considerable vol
ume in the first half of 1903, but
nobody took notice Of it at the
time, or cared anything about it.
The treasury's gold hoard is at the
highest notch ever reached, and
the tendency, in general, is up
ward. The wheat yield Of 1908 will
be the largest in the history of the
country except in one year, and
some Of the authorizes are figuring
that that big record will be beaten.
Corn, in spite of the lateness of the
season, promises we'll. Oats, rye
and hay, though below the highest
record, have each made a good
yield. Moreover, the commercial
failures will be smaller, in the ag-
gregate losses, than they were in
1902. More business is being done
at this time than was done last
year, and it is being done under
better conditions. In the region
commercially tributary to st. Louis
the exhibit has been especially good
for the half year. An indication
Of the expansion in that locality
Arkansas, Oklahoma, the Indian
Territory and Texas-can be seen
by the figures of railroad construc-
tiOn, which are ahead of those of
Ihe States of the rest of the coun-
try, as they also were year ago.
Fhe half a year which has just
ended was the best which the coun-
Try has seen in an industrial way,
and the six months which open to-
lay promise to improve on that
record.-St. Louis Globe-Democrat.