Los Angeles herald., 1908-08-09
SUMMER SALES
SHOW ACTIVITY
STEADY BUILDING TRADE IS
EVIDENT
CHEAP LUMBER PERIOD DRAWS
RAPIDLY TO CLOSE
Volume of General Business Grows
Steadler and Stronger-Manufac-
turers Prepare to Resume
Old Scale

Real estate continues to be active
despite the midsummer period. Last
week the usual run of sales was made.
In the tracts the sale of lots is excep-
tionally good for a summer month,
and the building now going on bids
fair to rival July, which was big
month with the builders. From the
suburbs and small towns come reports
of a steady realty market, with wide
spread inquiry as to prices, locations
and prospects.
The cheap lumber period is fast ap-
preaching it's close, and all who are
able and so inclined are taking ad-
vantage of the reduction. Houses are
now being built for at least rs per cent
less than a year ago.
The lumber business Is on the in-
crease in all its branches. This fact,
from all the evidence at hand, appears
to be indisputable. Even the railroads,
which have been conspicuous by their
hesitancy about buying anything at
any price, are showing signs of life.
The factory trade is increasing in pro-
portion to the expansion of general
manufactures, and the retail trade is
experiencing decided boom as the re-
suit of the building now being done
and projected. Those who have lum-
her to sell are beginning to appreciate
that if last years prices cannot be re-
stored a greater volume of business
will compensate for the narrower mar
gin of profit, and altogether those ele-
mentary conditions which exercise a
potent influence over the prosperity of
all the branches of the lumber indus
try seen to have combined to produce
a reaction.
General Rusiness IF1nroves
General business is improving grad
ually. The yolume of trade is growing
steadier and stronger, and reflects a
recovery OF confidence. Manufacturers
are eager to resume on the scale where
last falls disturbances caused them to
leave off. Such a resumption Of bust-
ness is scarcely possible; as 1t now
appears, it will require steady forging
to get back to a reasonably active ba-
sis. One feature greatly favoring the
return to normal conditions, and one
largely responsible for the great inn
provement, is the widespread desire for
a general betterment of conditions.
Buying the first six months of 1908 has
been limited to supplies for immediate
requirements. Price concessions have
not stimulated demand in lumber, steel
or other raw supplies. Purchases for
factories have been reduced to the min
imum, some factories having closed;
others are operated only part of the
time while a few nominally have been
working at full capacity but taking ad-
vantage of every opportunity to close
down for a few days or a week.
Does any retail dealer believe for
moment that present prices of lumber
and the inactivity of building Will con-
tinue? If he does he has misinterpret-
ed the signs of the times. The country
is full OF money, the deposits in many
banks being regarded as abnormal.
Farm Products Are High
Prices of all farm products are high
and promise to remain so. The nations 8
population has become so large and so
widely distributed that although there
NAV be heavy crops in one section or
the country, any surplus will be needed
in others. The demands of S0,O00,O0O
people are almost inconceivable in vol
ume, and these demands will be met.
There has simply been a breathing
spell, and the Industrial establishments
of the country will be compelled TO OPP
crate actively in order that they may
meet the requirements.
But it Is said that the railroads have
not been buying material as actively as
for the last ten years. Granted, put
how long can they keep out Of the
market? Every year, as populatlon IN
creases, there are more passengers TO
carry, more freight to haul, and II
would be strange indeed if the railroad
facilities were not increased to meet
the demands of the trade.