The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1906-01-03
MARVEL OF
PROGRESS
THE YEAR JUST ENDED
SHOWS PHENOMENAL
RECORD
UNEXAMPLED PROSPERITY
Is ShOwnin AIILineS, Accord.
ing to R. G. Dunn.

for 1908 says, In part:
'In the history OF the youngest, yet
most virlle, OF the great nations. the
year 1905 stands out as the one OF the
most rapid progress and greatest sue
cess. II has become so customary to
establish new records in this country OF
apparently unbounded resources and op-
portunities that statistics of unprece-
dented achievements occasion little COM
ment. Yet the past year has been so
exceptionally prosperous that the Rtten-
tion OF busy people should be called
to some of the most noteworthy accom-
plishments.
IF over 600, 900 immigrants were alb
sorbed i'm a single year without glutting
the labor market In any other nation,
sociologists would ponder the problem
with amazement: but such an unheard OF
occurrence in the United States Rrouses
little comment. So as to reports of for
eign commerce. and practically every
measure Of internal trade, to say nothing
OF agricultural production and transpor-
tation.
Railway Earnings Increase.
The mileage OF the railways has stead
fly increased and issues of stocks and
bonds are beyond precedent; yet the
market value OF the sixty most active
securities has risen far above all previ-
ous records, the earnings are much
greater than ever before. and frequen:
complaints have been heard because traf-
fic facilities were inadequate.
Manufacturing plants have turned
out quantities OF products much in ex-
cess OF any earlier year without caus-
Ing accumulation; In fact, II was often
the case that goods could not be deliv-
cred as specified. and in the iron and
steel industry orders were carried over
into 1906 equal to the entire annual
| production few years ago.
Prices of commodities, as shown by
Dun's index number. have risen to the
highest position In twenty-five years, a
striking evidence Of the consuming oa-
paclty Of the people. for II Is not possible
| to maintain the quotations Of an un-
surpassed production of the various neo-
essaries Of life uni ess there is a COM
mensurate broeSehing Of demand. Fail
ures are fewer in proportion to the num-
ber of firms In business and liabilities
are at the minimum ratio to solvent
payments through tho -learing houses
which have also re.Ct, 4 q new high
water MARI.
"The yosr's rcsgns on the farms are
watched with anxiety by the manufae-
turer and the fnanc!er, quite as muct
as by the agriculturist Corn has made
a phenomenal record of 2,707 .993, ,54'
bushels, with an estimated value of 81 ..
ll6. 696,73S. As the grain crops begaI
to move. there was return to the lib
eral exports that had been missing II
tho two previous years when this ma
ton had little surplus for customer
abroad. and the closing months of 1870
recorded a total value Of breadstuffs sen
abroad greater than In any month 10
over two years.
Breadstuffs Lower Than Last Year.
Insofar as prices were concerned
fluctuations were less wide than In tn
previous year early strength givinl
place to less abnormal figures as the crol
outlook became assured, and the end o
the period produced prices 20 cent
lower than "a year previous. Western re
ceipts and exports since July l show a.
| large Increase over the corresponding al
months OF 1904. as might be expected 4
view of the larger crop and lower quo
Iatlons, Corn has shown less change II
Comparison with last years prices.
"Ginners' returns Indicate that the yiel
OF cotton win fall far behind the previ
Gus record breaking crop. Yet price
have not approached within about s25
bale Of the high water mark OF 1904
owing to the enormous stocks carrie
over and the loss in foreign buying.
"The year 1905 has been characterize
by one OF the strongest markets In IN
history Of the hide trade. Prices are a
the highest level that has been reache
ma generation. The cattle raisnE In
dustry has not kept pace with the in
crease In population, and a falling OF
In the consumption Of bcef has cause
a scarcity OF hides in a year like IN
present when general prosperity create
more than tho usual demand for leather
Money stringeney Unlmportant.
"Aftcr IA long period OF abnormally cas-
, money markets. the closing months {
F, 1905 brought AN advance in rates this
, closely approached serious stringenc!
This had little effect either upon spec
uladon or industry. Financial cond
tions are sound
Incomplete returas Of mercantile n
! solyencies. exclusive OF banking suspeI
i, slons. were 1882 during the year $50
according 20 r. C. Dun q Co. with d
d. aultcd Liabilities OF sos. 502. .0l6. The
figures compare with hnal returns
1919 failures and Stl.202,Sl1 Habil
ties in the previous year, while loss
We're still heavier IN 1903. In fact. Il
necessary 60 go back TO 1880 to find
year when the total deiaulted ndebte
i ness was smaller than in 1905, ana
d other year makes as favorable an e.
hmm I'm nNDr Two lnnlHns >,