The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1907-12-30

ter restored some OF the lost balance.
Mild weather early In the fall, the
late movement OF the crops and the
October panic and its aftermath hurt
fall trade and holiday business. AS to
Wholesale trade, 1t may be said that
six months business was secured be.
fore the year began. but the business
done after July /. and especially in
the last quarter. was below other
years. Industry entered the year with
full order books and had about
caught up with demand in many lines
when the October panic occurred.
Collections were ut no time especial.
" good, and In the late fall they we're
positively bad In some sections. with
an immense amount OF paper reported
renewed. Despite all drawbacks.
however, so keen was early demand
and so behindhand were nearly aft
manufacturers that the excess In the
first half Of the year probably more
than made up for losses In the last
half. so that the years turnover in
Wholesale trade and industry com.
pares, quite well with 1906. Poor crop
reports and estimated or actual light.
er yields were responsible for excited
movements and higher range OF
prices OF farm products, especially OF
grains and cotton, than In 1906. Com.
modify prices. as well ms the cost OF
living. generally struck new high lev.
els. Labor was scarce. but complain.
ed OF as inefficient until close to the
end OF the year, when decreased build.
ing and manufacturing operations
brought about a surplus supply. Emf.
grafton was the heaviest in the coun.
try's history. coincident with the
greatest immigration ever recorded.
Tho Year In Detail.
Weather conditions were irregular.
ly unfavorable during January, exces.
sive rains west and mild weather east
and south affecting retail trade, while
the northwest was burfei In snow.
Throughout the country there was
complaint OF congestion OF transporta.
ton, and some 1906 holiday goods
were held on cars until February.
Floods In the central west interfered
with industry and there were fears OF
damage to winter wheat from lack Of
snow covering or from Insects. Win.
try weather early In February accen.
tuuted fears as to wheat, which con.
tinued with little snow covering. and
green-bug damage In Texas foreshad.
owed failure OF that States wheat
crop. Difficulty in borrowing money
and serious congestion In transporta.
tion hurt the railroads. which found
operation dangerous because Of strain
on working forces, while revelations
as to railroad stock.watering caused
an outbreak Of granger legislation
and predictions Of curtailment in new
construction or OF improvements. AL.
ready there were misgivings as to the
top OF the prosperity wave having
been reached. despite great Industrial
activity and an immensely active de.
mand for cotton goods. Early In
March the Ohio valley was flooded
for the second time In 1907, prices for
commodities reached the highest
point In fifteen years and green.bug
damage to wheat moved northward,
but trade was good. and order books
were reported filled as never before.
Antl-railroad legislation reached en-
IRENE development and the stock
market experienced It's first great
weakness of the year, eliminating In
the mystery panic" of March 14-2G.
Less confident iron buying for the
third quarter and easing In copper
stock market slump, but almost sum-
merlike weather stimulated good
Easter trade at retail. April ushered
In two months spell OF cold weather
which interrupted farm work, check
ed plant growth and made for a sharp
advance In wheat, corn, oats and cot.
ton prices. Gross railway earnings
were large, but net earnings reflect.
ed higher cost OF operation. Poor
trade and slow collections were com.
planned of in May. which saw export
trade at New York paralyzed by a
strike Of longshoremen, and strikes
at San Francisco interfered with for.
eign and domestic business. Cereal
prices doomed early in May. a reHec-
ton OF poor crop reports at home and
abroad. June opened with poor crop
promise, some conservatism in orler.
Ing for fall trade. slow retail trade
and poor collections, but change for
the better was seen after FIRST week;
crop conditions improved. cotton
goods were strong and to 10 per
cent gain in total trade over the first
half OF 1906 was shown. Gold exports
were heavy In June and cereal prices