The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1907-01-02
een1 j
BUSINESS IN j. S.
PROSPERITY BEYOND PRECEDENT
Erops Have Been Big. Factories On
ly Handicapped by Capacity and
Progress Unrestrained.

gives the following comprehensive
statement regarding business con-
rditions of the past year--a review
not only readable, but we'll worth
preserving. as a matter of history,
for future reference:
Nineteen hundred and six was .
very remarkable year. And yet this
characterization appears incomplete
in view of the fact that old records
were retired and new ones set up, in
the disproving of old proverbs, and
the predictions that 1905 was so
favorable that better results were
hardly to be expected the following
year. Not the least remarkable feat
IRE, too, was the fact that the APP
parent rawbacks-and there were q
number--did not retard the onward
movement, and the course of events,
commercial, industrial and financial,
viewed from the vantage ground of
achieved results, was a grand tri-
.umphant march of progress.
Concisely stated. 1906 saw very
favorable crop yields; a record out
put of cereals; close to highest yields
and record values of other far d
products; unprecedented activity in
all kinds of mining except coal;
enormous outputs of precious metals;
land speculations assumed enormous
proportions, building activity sur
passing the wonderful record of
1905: unprecedented totals of for
eign trade; an unparalleled immigra-
ton; surprising totals of clearings
and railway earnings; employment
a cf.o a -
fore; record volume of circulating
medium-money- altogeth-
ser inadequate for business purposes
and finally, and what is, perhaps. the
most remarkable development of all,
the reaching in time Of profound
worlds peace. of wartime level of
prices of commodities without the
slightest APPARENT fleet on demand.
which, throughout the year, pressed
holly upon supply and caused from
the beginning of the year to its close
general complaints of the backward
deliveries of goods. After even 4
cursory review of the results. indeed
one is Impressed, with the adequacy
of adjectives to give full expression
to the wonderful development OF the
year now drawing to a close.
OF the drawbacks. interruptions
and what. in some years, would have
proved to have been absolute checks
to progress, there were several well
deserving of mention. Mild winter
weather has not usually been asso-
ciated in the past with present or
future good trade or crops. and
vet the country had the mildest Win
ter in years Later on in the year.
the greatest city on the western coast
was leveled by earthquake and fire
a shock to financial circles which
might have been fatal in an ordinary
year. Legislation of a somewhat
radical character affecting railroads
and large corporations, with numer-
GUS prosecutions of companies and
individuals, was a marked feature
resulting from the previous years
moral agitation and uplift in state
and nation, without any, apparently
other than beneficial effects to the
country at large. Tight money al
nome and abroad put strain upon
general business which resulted ir
strikingly little friction. judgins
from failure returns, the most no
ticeable effect being a feeling of con
servatism which proved to be bene
fetal Congressional and state elec
tons had little effect, the genera
conclusion being that the peopl,
were too busy to talk politics.
Transportation congestion of thu
acutest kind. resulting in loss o
trade and some actual sufferin:
where fuel supplies were concerned
perhaps arrested. but certainly di;
not check, progress Strikes wer
numerous, but, except in the coal
molders' and printing trades. not o
long duration, owing to a spirit o
compromise and yielding on tn
part of employers, who realized tina
the cost as well as the country
standard of living justified large
compensations
Some occurrences which made tn
year an especially notable one. tn
final effects Of which have not We
been worked out, were the immens
speculation in and advance of Ian
values which. with the building &C
tivity in some sections, was elaine
TO be dangerous 10 continued pros
perity. High money gave a check t
this as it also did to the enor
nous volume G. speculation in min
ing shares. which diverted attentio
from other markets, notably graf
and stocks, and to a certain exten
from cotton. though the latter show
ed greater activity throughout tn
year
The combined production of all &c
reals was the largest ever known
chiefly because of the immense cor
yield The values of cereals and a
farm products are alike the grea'
est ever reported In the financif
records. The frequency of increase
approximately 10 10 IL per cen
is probably a real guide to the il
crease of general business over 1907
In the statistics of industrial outpu
especially of the iron trade. the gair
are not far below the above pc
centages Another guide to til
character of the cars business
II be had in the gain in stock sale
AMI the loss in bond sales. indicatin
that with prosperous trade. a grea
q disposition 90 be a partner rathf
- a crediior was manifested. F