The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-07

But for the balance wheel called
Conservatism" which American, if
you please, Yankee" prudence has
already connected with the machinery
of business-in anticipation of a presi-
Dental year-we should predict a boom
in long leaf yellow pine. AS it is,
we expect a steady and healthy de-
mand with good values particularly
in those sections enjoying normal con-
ditions) and this is more to be de-
sired, fixing as it will, more stable
basis of calculations as to the future
Why this expectation? Good crops
Of all kinds high priced cotton, in
creased and more diversified iron and
cotton manufactured products; the
same conditions extending into many
other manufacturing lines, some of
them entirely new to this section, has
made the South, IL not the most pros
porous, certainly equal in business ac-
tivity to any other section of the coun-
try, with the result that there is a
wonderfully increasing home demand
for yellow pine from the laborers, me-
chanics and farmers, as we'll as the
manufacturers and the railroads.&c.
and new. And the prosperity of other
sections is also to be taken into ac-
count.
1 have just returned from a trip to
New York in the East, and Chicago in
the West. The feeling of all met was,
while conservative bouyant. The pessi-
mist was rare, and seemed, when sur
roundings were considered, like a fish
out of water. Travel was heavy, trains
all full-many of the reservatio taken
days and weeks ahead, the streets and
stores crowded with shoppers, making
heavier purchases than ever before as
reported by many of the largest deal
ers recently in the public prints over
their signatures. The railroads are
generally reporting not only satisfac-
tory but increased earnings-all evil
dencing general prosperity-money to
spend.
Lumbermen Yet to Be Heard From.
We hear no cry of distress from the
hardwood quarter; the spruce and hem
lock men are quiescent; the white pine
contingent are eminently able to hold
their own-whateVer the future may
bring forth. / heard one in author
lty but recently state that if any de-
preston or decentralization occurred.
they were prepared to curtail output
70 per cent. or more, or if desired, to
hold stocks firm at existing prices so
long as necessary to maintain present
healthy status.
Pacific coast conditions are normal.
whi8l maintains the equilibrium as to
other woods.
The South and the Middle West are
steadily and firmly holding their own
with strength rather than weakness
being apparent.
The Gulf coast mills are reported
full of export orders, some of them
months ahead, presumably at salts
factory prices.
The conditions in North Carolina and
Virginia can be most aptly described
as jubilant, prices satisfactory, orders
plenty demand good, stocks short,
output diminishing.
Cypress, like white pine, has been
able for some years past to stand
alone. They fix their prices and sell
only when they get them, demand is
reported satisfactory.
This brings us to our immediate
section-South Atlantic coast-the
home of the long leaf pine. 1t is here
that the abnormal conditions limited at
above exist. To explain, necessi-
tates reverting somewhat, Following
the sore depression that fingered with
us from commencement of 1891
through 1897 and part of 1898, during
which period many mills We're operated
with no profit. but only to hold their
organization, there came rapid i'm
| provement in prices reaching on some
| items in 1900 record prices and making
a very satisfactory average of prices.
/ Through 1901 and 1902 and into 1903,
there was a gradual leveling and low
ering of prices and even balancing of
business, interior and coastwise; leav-
| ing the manufacturers a fairly COM
mensurate proht-but not to compare
to heavily increased profits in other