The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1906-01-10
a BUSINESS REVIEW.
Bradstreets Tells the stors OF the Most
Prosperous Year in Our History
.Rradssreas,s Of December soth will

Rradserees,s of December soth viii
y
Nineteen hundred and ave was a
year of almost boundIess activity in
srade, industry and speculation. It was
. period OF. rich rewards to agricul.
4ure, though not Of uniformly record
Yields; OF abundance Of employment
1er labor and OF very few serious
s@rSkes; OF building and constructive
acEivity IN all lines; Of enormously
enlarged bank clearangs totals, and OF
strEklngly small failure damage, con-
asaering the Immense business Gone
and the unprecedented number en-
gaged therein. That it was, on the
wEole, a year Of heavily increased
pabnc purchasing power seems GER
4ain. i view OF the fact that commod-
zH prices were maintained at record
high levels. It was a year of peace IN
natSonal affairs, and the country r
xafnr has no cause to regret the eff
fprss T its highest officer to bring
peace to warning sister nations. While
spared the social unrest visible in
some foreign nations, it may be said
WITH some comfort that It was period
OF moral awakening likely to be pro-
ducsive OF much good to the NATION,
because of the pitiless arraignments
ef dishonest financial and political
practices in the court Of public opin-
lon
me multitude Of records broken
Shows that new g~uideposts have, in.
deed been set up. 1ae revival which
began III the last half Of 1921. far
from spending It's rorce, as va often
predicted IN the early part of 1905,
grew as the year advanced. True,
there was period of hesitation
breathing spell, a it were-in the
spring Of the@year, but this was q
Dause to get aclearer view of the III
innate crop yields and to enable the
business world TO take new bearings.
T~henceforth the commercial, financial
and Industrial movement surged for
ward. weather drawbacks and dis
closures of 1nancial rottenness in high
places falling TO stem the upward
Erend. Disregard Of precedents was,
perhaps, best illustrated in the persis-
tent advance of securities despite high
meney prices, and the tendency to
discount prosperity was irresistible.
Some Details OF Trade.
The momentum given business by
the booking in 1904 of three to six
months orders Sor 1905 hoped carry
Industry actively through a very Sc
we're winter, which saw traffic con-
gested, new business retarded, collec-
aons impaired and fuel supplies re-
strscted. Low Temperatures, however,
favored a thorough retail distribution
Of seasonabIe goods, and heavy rains
and SHOWS improved a low conditioned
Wsnisr wneat crop. Good March
weather expanded trade rapidly; cot
ton prices reacted from the lowest of
the year, thus helping southern trades
foolish reports of cotton burning were
early disproved by Bradstreet's; rail-
way embargoes were lifted; record
= and steel outputs occurred; fail
IRE liabilities decreased, and Brad
streets reports pointed to 100000
900 worth OF building contemplated.
Trade and collections during April
e excellent, but the collapse of the
nay wheat deal. with resulting bank
failures, affected securities prices;
wheat quotations already weakened
by good crop prospects, receded, and
iron, coal and coke likewise declined.
Insurance disclosures and a long spell
Or rainy weather were also depressing
Better weather in June improved ce-
TGd1S, ulSuST CO@SOl pAiSCS, 1AAoSAiSSo
by reduced area sown and good de-
lnand for the balance Of the immense
crop Of 1904, restored southern activ-
iy, and the last half Of the years i'm
mense trade development was inaug-
nyated. Six months figures OF iron
production broke all records; so did
those of ciearings, building and for
eign trade. Trade displayed less thai
ordinary midsummer quiet, ample I'M
petus being furnished by predictions
OF Immense cereal Yields, though vim
ter wheat did not maintain full prom
ise, and rust damage, investigated but
uaInimized by Bradstreet's agents.
slightly curtailed the spring-planted
crop. Fall trade began early. South
er7l trade, hurt by yellow fever ana
resulting guarantees, was stimulated
by cotton steadily advancing on crop
reports, too much rain in the South