New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-01-01
BUSINESS OF THE YEAR
"Bradstreet's" ReDorts A..
Bo~ndLe&s ActiUity.

boundless activity in trade. Industry ana 80. a-aE
ton 1t a period of rich rewards - 80 sE-ua-
ure, though not of uniformly record visIs-.
abundance of employment for labor and -
rev serious strikes; Of building and coustr,.s
activity in all lines: Of enormously enIaro.a -''
clearingS totals. and Of strikingIv gnan -
damage, considering the immense busipe.. =
and the unprecedented number engaged g.
That it was. on the whole. a year OF heavpa E
creased public purchasing power seems cert.,.
view of the fact that commodity prices uvsra -.
tanned at record high levels. Ii was a year Of -
in national affairs. and the country certainIv ~
no cause to regret the efforts Of its highest 60
to bring peace to warning sister nations. VI
spared the social unrest visible in some TO-.
nations, it may be said with some comfort tbs,
was period Of moral awakening likely to be n,
ductive of much good to the nation became .
the pltliess arrangements OF dishonest financial an
pontlcal practices In the court of public opinin-
The multitude Of records broken shows thst =.
guide posts have indeed been set up The Ttvjs -
which began in the latter half Of FAR from sp.
ing its force, as was often predicted in the ss-5
part of 1905, grew the year advanced IT,
there was a period Of hesitatiOn-a breathing s1s5
as 1t were-in the spring of the year, but this h.
yields and 70 enable the business world Ia ~.
new bearings. ThencefOFth the commercial frs.
weather drawbacks and disclosures Of finsprs
rottenness in high places failing to stem the ~
best illustrated in the persistent advance Of ssc
ties. despite high money prices, and the tendesT
SOME DETAILS OF TRADE.
The momentum given business by the booking n
1904 of three to six months orders for 1865 helped n
carry industry actively through a very severe win
ter, which saw traffic congested, new business n
tarded, collections impaired and fuel supplies rsl
stricted. Low temperatures, however, favored 4
thorough retail distribution of seasOnable GOOD
and heavy rams and SHOWS improved low cOnd
toned winter wheat crop. Good March weather e
banded trade rapidly; cotton prices reacted from IL
lowest OF the year, thus helping Southern trade
foolish reports of cotton burning were early G<l
proved by "Bradstreets''; railway embargoes Wsrl
lifted record iron and steel outputs occurred fab
ure liabilities decreased and "Bradstreet's" ri
ports pointed to $6OOOOOOGO worth of building CO..
temPIated Trade and collections during April vea.
excellent, but the collapse of the May wheat del
with resulting bank failures. affected securins
prices; wheat quotations. already weakened n
good crop reports, receded. and iron, coal al
coke likewise declined. Insurance disclosures andi
long spei OF rainy weather were also depressing
Better weather in June improved cereals. highs
cotton prices, Influenced by reduced son
anu Sood demand Ior me balance OF the tnnmens
crop of 1904 restored Southern activity, and the H.
ter half of the years immense trade develOpmd.
was lnauguTated. SIX months figures Of iron Pc
duction broke all records; so did those Of clearing
building and foreign trade. Trade displayed les
IMAM ordinary midsummer quiet ample impetus =
ing furnished by predictions of immense cera
yields. though winter wheat did not maintain e.
PTohise' anu rust carnage investigated out NM
mixed by "Bradstreets'' agents. slightly curtaikt
Fall trade began early Southern trade. thoua
hurt by yellow fever and resulting quarantins
crop reports, too much rain in the southwest q
intense demand for manufactures.
securities rose. despite hardening money RATS
manufacturing was active IN all lines; iron. WIZ
touched bottom in July. began to advance, as q
free from frost damage; coarse gram exports e
banded, wheat and flour dragging behind and q.
tributive trade was the best ever known. In s.
TENDER car shortages began to affect traffic az
collections, ciearings reached new high hgufz
below 1904 Lifting of Southern guarantees gas
zest to Southern trade which was further hepz
by high cotton quotations when the movement Va
heaviest In the last quarter open weather favOTs
outdoor activity but retarded retail trade Wis
cotton, and the car congestion, which likewise 81
layed collections Stock speculation, though lact
nipulative influences was OF large volume at reeo
prices, despite high money influenced By aeua
steel outputs advanced; ore sales. clearngs an
staple prices all scored high levels in DecembE
price index showed gains above all preva2
years, and the sustained strength was ssl
was $SSOl4 on December l. the highest point 2
fourteen years, per cent over January and s
buying quoted toward the close and seasonal.
goods felt the influence of mild weather but spTs
trade in volume and value htuagly crowned 3
record breaking year
COTTON AND WHEAT SPECULATION
The cotton and grain markets were scenes Of T
element, with cotton figuring most extensive
throughout and finishing at nearly the highs
prices of the year, after beginning at the loves
whereas wheat, highest in February. found bs
level near the close. after a rally from extrers
decline in the early summer. Cotton began u
year at seven cents for middling upiands, bIi
successive reports of reduced acreage, had weathE
heavy rains, fine consumptive demand and are
heavily reduced estimates Of yield, rose W y
markable jumps, with some reactions, to -
cents the highest price being touched in Deceme4
following the government estimate OF MN,~
bales, contrasting with a commercial crop rs
probably A,l0t,GtO bales Reaction later ioSt =
of the advance but it is still AZ cents above y
cember. 1904 Exports for the year break al n.
OrdS in quantity and value. owing TO the tlIse.
crop and good prices paid. and to-day the SCUM