Free press., 1906-10-06
Good American Business.

In the United States during the first
half of this year $26o,ooo,ooo was spent
for new buildings in twenty cities,
SI3ooo,o 900 more than was spent during
the corresponding time last year IN
twentv-four cities Of the $I3,ooo,ooo
increase, $8,ooo,ooo was in Greater New
York, whose total was $SS,ooo,ooo Los
Angeles spent $Io,ooo,ooo during the six
months, an increase of $2,4oo,ooo.
In the fiscal year just closed Puget
Sound sent abroad $I7,oooooo worth OF
grain and -four, an increase of $I2,7oo,-
600 over the last fiscal year.
June is never supposed to be strenu-
Gus business month; yet railroad earn
ings last month went on Increasing right
along over the same weeks of June,
1905. Some of the items for the fourth
week in this June are as follows: Wa
bash $II6ooo; Missouri Pacific, $I75,-
COO; Louisville & Nashville, $I28,ooo,
and Missouri, Kansas & Texas, $780,
500. That is why railroad reports from
Chicago say: Despite ali reports to the
contrary, there has not been summer
in good many years when everything
looked as bright and prosperous as at
present" Here are some of the gross
increases for June: Vanderbilt system,
ST $4,000; Illinois Central, $228, 1000 !;
Yazoo and Mississippi Valley, $I56yoOo.
The Burlington's annual report, to be
issued in August, will show 100000
increase IN gross earnings.
Thirty-four million barrels of Port
land cement were made In this coun-
try last year, an eight hundredfold in
crease in twenty-five years. The value
was $32,ooo,o 600, an increase of $3I. .87A-
oOO
In the five years from 1900 to 1905
capital invested in American manufac
turing has grown from $,6Soo,ooO,o 900 to
SI4ooo, 900, ,ooo and the annual product
from $I3,ooo,ooo,ooo to $I7,5oo, 100000
In the fasca1 year just closed we alb
sorbed more than a million immigrants.
They brought with them $Io,ooo,ooo in
cash We need them and many millions
more. The cry is heard from every part
of our country: Men wanted"
Our circulation of national bank notes
increased ST, ,o82,7oo in June and $o5,-
3o2,5s4 in the fiscal year which ended
June 80, reaching $56I, 49, 800, secured
by an equal amount of the best, bonds
on earth-American government bonds
This is the highest recorded bank note
circulation. Prior to 1902 the highest
record was on October I, 1882, $362,256,-
COZ. On July I, 1891, the amount was
only $I67,557,214.
At Seattle in June sixty-four deep sea
vessels arrived and seventy-eight de-
parted; passengers inbound, 58,oo3, and
outbound, 5o,25o Imports, I,44o78o,
and exports, $I,357yoo2, total foreign
commerce for the month of more than
81, 100000. This business was done with
the Orient (mainly), England, British
Columbia, South America, Siberia, Ger
many and South Africa In addition,
the total value of domestic water ship
rnents was $5,643,284s making total wa
ter commerce for June of So, 100000.
Southern California reports some big
crude oil contracts 10000, 900 barrels
for several private firms IN Japan; TO-
900 barrels deliverable daily by one COM
pany in the Los Alamos field; another
company has agreed to deliver 10000
600 barrels in Chile; still another COM
pany is buying three new tank steamers
to carry California oil to Hawaii and
Central and South America; yet another
California company has almost com
pleted its pipe line across the 1sthmus
of Panama. There will soon be an
American Panama Canal of American
oil. with eight big receiving tanks, four
at each end of the Isthmus, holding 2oo,-
COO barrels of oil.
Good American business is again re
hected in the total money circulation on
June 80 of $2,744,483,83o, being nearly
SIoS,ooo 900 more than on June 80, 1905,
and ST, ,o28, 100000 more, than on Janu-
ary I, 1870, the day on which Uncle Sam
resumed doing business for cash. The
present circulation is part of the gen
eral stock of money in the United States
which amounts to $3,ooo,ooo,ooo, an in
crease of $I2,ooo,ooo in the month of
June. The circulation is equal to $32.4a
per capita of a4,662,ooo population.
Grain receipts from January to May,
inclusive, of this year, at New York,
Boston, Philadelphia, Baltimore and
New Orleans, amounted to $I32,627,o67
bushels, an increase of 100000 bush
els over the corresponding months Of
1905 and 100000 over the same period
IN 1904