River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1904-09-22

Henry G. Davis said in his speech ac-
ccpting the Democratic nomination for
Vice President:
THE APPREHENSION WHICH
NOW PREVAILS IN BUSINESS CIR
CLES AND THE PRESENT UNSAT-
ISFACTORY INDUSTRIAL CONDI-
TONS OF THE COUNTRY, SEEM
TO DEMAND A POLITICAL
CHANGE"
When Mr. Davis said this, his acute
wish TO be the Vice President Of the
United States, through the success in
November Of the great party Of calam-
ity. must have been the glad father to
this thought about apprehension in bust
ness circles" and Unsatisfactory indus
trial conditions"
The accumulation by Mr.. Davis Of an
enormous fortune so that lie is now con-
sidrrcd the richest man in West NIr-
gnia. would naturally lead to the sup
position that he must be in touch with
conditions in all branches Of trade and
in the great markets Of the country, and
therefore ought not to show a gross i@nor-
ance Of developments in the business
world, such as MS speech of acceptance
showed.
More Prosperity for Davis.
Take the coal industry, for instance,
out Of which Mr. Davis has secured the
most of his vast riches, and on which
hc ought to be specially well posted.
What is the present status Of this in
dustry? Does it reflect apprehension i'll
business circles? Does it show forth I'M
satisfactory industrial conditions? The
Black Diamond, a leading organ of the
coal trade in it's issue of Sept. 2, re-
viewing market conditions, says:
General trade conditions pertaining
to coal are more encouraging this week
thlu they have been at any time within
the past six months. Coal companies
which have been keeping their expenses
down to as low limits rs possible during
The summer arc beginning to expand.
They are taking on new travelling men,
preparing to increase their advertising
and are making preparations which in
dictate that they expect a large volume
OF business from this time forward. This
confidence in itself is an indication of bet
ter things in the coal trade. 1t shows
when it becomes general in the way 1T
has during the past fortnight that all the
principal factors in the situation are
gauging the outlook from about the same
basis and that this is a conservative one.
I'm the bituminOus list the greatest
improvement has occurred in domestic
Goals. Early orders are coming in quite
freely and mark difference as compared
with the conditions which existed
month ago at this time
Mr.. EchcIs Secures Testimony.
The Commercial National Bank of
Chicago, whose president, James Ii.
Eckels, is on the finance committee of
the national Democratic party and is
chairman OF the Democratic State finance
committee Of Illinois, every year complies
comprehensive report as to business
conditions in the United States. The
bunk this year addressed inquiries to
every bank and banker in forty-two Of
the leading cities and towns Of the Unit
ed States. Replies were received from
1872 interior and city banks.
These reports published Aug. 13, al
most without exception indicated that
the banks are well prepared to finance
the maturing crops. The banks sum-
mary Of the reports says: I'm MANY
SECTIONS FARM LANDS ARE IN
CKEASING IN VALUE, AND AL
MOST WITHOUT EXCEPTION
FARMERS ARE SAID TO BE PROS
Porous.
The prevailing condition of trade at in
terror points is satisfactory, and collec-
tons are reported as good as last year.
Bankers report generally fair demand
for money, but none reported an excess
sive demand. Deposits now are station
airy, but THE AGGREG ATE
AMOUNT or DEPOSITS HELD BY
COUNTRY BANKS AT PRESENT
IS GREATLY IN ENCESS OF THE
AMOUNT HELD ONE YEAR AGO,
AND ESPECIALLY so IN THE
SOUTH
Rise in the Stock Market.
When there is apprehension in bust
ness" the stock market is always quick
t. feel it, aud to discount trouble. The
following review Of the recent course Of
the stock market is taken from leading
financial paper:
There has seldom been a period in
stock market history when such impor-
tant net results have been accomplished
as during the month of August Aver
age advances in August of about nine
points have been added to average adj
vances in July of about three points.
There has been altogether a 12-point
lift in the market since July L, and yet
this very important appreciation has been
too gradual and even from day to day to
have aroused much public interest.
Nearly every day during the last few
weeks the stock market has made new
high records for the year. But the adj
vances have been non-sensationaL. There
has been nothing at all pyrotechnic about
them-nothing to suggest that as the
rocket shoots upwa so will the suck
strike mother earth with a thud.
lit is the aggregate of small investors
who have lately been keeping quiet but
saving wood, that has given the market
its higher impulses. The big upward
movement in stocks that was predicted
for after the elections has consequently
been rather prematurely forced. 1t has
come too quickly and quietly for either
the public or professionals to get in at
the start and on as important 4 scale as
would have caused an early large accu-
mutation of profits. The market has
steadily gone up, because quite large
number of investors, with only their
common sense to guide them, have con