The daily silver state. [volume] (Winnemucca, Nev.) 1903-1907, 1904-01-14
TRADE CONDITIONS A E SOUND

A review of trade conditions in the
S. F. Call says
Cod and stormy weather. has check
ed business in some sections, impeded
transportation in others, stimulated
some lines of goods and depressed 9TH
ers. In the iron and steel industry
this irrgularity is conspicuous. Nu-
merous reductions in wages went INTO
effect January / and more are con-
templated, while the net earnings for
the last quarter of 1903 were less tnan
half those Tor the corresponding QUAR-
ter of 1902, and the opening OF the new
year showed a pronounced failing OH
in oIders tor new business. Several
sections, however, report more steadi-
ness in the cluder forms, with a BET
ter demand. The net condition of the
industry, however, IS by no means
what it was at the beginning of 1908.
Tn wooden trade is generally quoted
steady, but manufacturers a.e pro-
ceealns cautiously and are buying no
more raw wool tnan is necessary to
fill Immediate wants. The coeton
trade is kept in a condition of unrest
and uncertainty by the feve. ish hactu-
atoms of prices on the exchanges. by
the halung character of the 10. eign
markets, the deficiency in the crop
and last. but not least, by the kale.do-
scopic aspect of the Ru~sso-Japanese
complication which changes It's hue
every day. Lumber, like iron, is un-
settled, cold weather and readjust-
ment OF wage scales contributing TO
render the future of the market more
or less uncertain. In some parts of
the &C antry associations of manufac-
turers are being d-isorganized, with
lower prices predicted by the trade,
while other sections report a good ex-
port movement.
Another important branch of trade
exhibiting his unrest n uncertaint,
Is provisions. Chicago reports las.
week called particular attention to the
fact that the packers. after col.ectlns
large lines of cured meats for SOM
weeks, unloadei themselves. In con-
sequence of this course prices hav-
been very variable of late, going up
one day and down the next, and the
future of the market is uncertain. The
high prices OF 1902 and the early par
OF 1903 so checked the demand for
meats that the prices for livestoci.
fell off sharply, the movement of the
cured product also diminished n he
outlook is regarded with dubious eyes
by many in business.
1t is this feeling of uncertainty which
Is checking trade on the nations great
stock exchange moe than the tn. eat
ened war, which has been largely dis
counted. 1t is the principal reason
why stocks, which the great financiers
and banking interests are In
sistenly assuring the public ar
now down to a safe purchasing
basis as an Investment proposition,
do not respond by the increased ac-
tivity and hardening quotations. The
people. have not yet made up their
minds that everything is all right. Per-
haps were ii not for the Russo-Jap-
anese Complication which upsets to-
day the conditions 1t created yester-
day. the market ere this would have
resumed its normal activity; but this
Is mere conjecture.
1t is patent. however, that specula-
ton in Wall street is at a low ebb
compared with the past five years.
Accol ding to figures colfated by the
New York Herald the volume of new
securities listed on the Stock Exchange
In 1908 fell off more than 81 SIS ,0e0 600
as compared with 1901, In 1909 the