Lincoln County leader. [volume] (Toledo, Lincoln County, Or.) 1893-1987, 1904-01-08
Good Times, says Benner.

Benner's prophecies for 1904 have
been issued and the bulls are much
cast down, while the bears are CORE
spondingly elated. Mr. Benner thinks
that the prices in all lines Of industry
are going to be much lower during the
coming year, but he believes it will be
the turning point in the bear move.
ment and will be followed by twenty
years of imitation.
Benner's prophecies have been so
often correct in commercial as we'll as
political matters that they are taken
seriously in the business world.
Samuel Benner is an Ohio farmer
who tills the soil by day and studies the
stars by night. For many years he was
a local oracle only, He told the farm
ers of his n~eighborhood by star gazing
whether or not to plant their potatoes
in the dark of the moon, when it would
be the best time to shuck corn to get
the best results, and how best to swap
a roan horse for a sorrel when the
noon was in perigee. By and by the
fame of his predictions spread through
the whole country round and for twenty
years or more they have been published
in pamphlet form every year. The
first copy of the 1904 volume reached
Wall street last week and was read
with deep interest. by the spectators.
Mr.. Benner's predictions for 1904 are as
follows:
81 predict that prices for pig iron,
railroad stocks, and many commodities
will be lower in 1904 than in 1903.
81 predict that the Republican party
will be successful in the election of
November 1904
81 predict that after the year 1904
there will be Il revival in trade. better
times, and that higher prices will pre-.
vail until the year 1911.
1.-The present down cycle in prices
and in general business ends in 1904 I;
and by reason of protective tariff this
country has not had an ol~d-fashioned
period of hard times during the last
three years. Nevertheless, there has
been a stupenduous fail in prices and
shrinkage in values of railroad and in
dustrial securities, with a severe decline
in iron.
''Prices for iron, railroad stocks, and
many industrial securities will continue
TO be depressed until the. future policy
of this government is settled in the
coming election for President.
Nov, while we have had a disastrous
reaction in prices of stocks and invest
ment securities, it is to be reasonably
expected that a further moderate bust
ness reaction will follow to the close of
this low cycle.
Therefore, the decline In iron and
steel, curtailment Of orders for railroad
materials and manufactured commodi-
ties will continue through the year 1904.
"The year 1905 will be the beginning
OF a new up cycle In pig iron II Tor Il
long continued prosperity in general
business, lasting until the next COM
mercial revulsion, which will be in 1911.
The coming opportunities to catch
business and prices at their lowest linn
its OF depression will not happen again
for twenty years. 1t is estimated by
financial experts that the shrinkage in
values in railroad, mining, and various
industrial securities during the last two
years amount to $4,000, 100000. 1t is
possible that the loss of this vast sum
OF money can be recovered and n thou
sand million dollars more of inflated
values added 10 these securities during
the coming years of prosperity Inter
Ocean.