The Birmingham age-herald., 1908-01-20
Industries Ar; Resuning 0psra- tiOns Everywhere and Money
 Is Quite Plentiful
MEN ARE RETURNING
 ID MILLS AND FACTORIES
In One Week More Than $2o,ooo,0oo Went Into the Banks of New York City. and the Effect Is Good
 All Over the Country

| New York January 19-(Special)-A
 telegraphed request to towns in various
 parts of the country for information on
 industrial conditions brought generally
 favorable responses. Prosperity and
 healthy. normal industrial and commer-
 cial conditions are returning through
 out the country.
 The railroads. iron and steel mills,
 and coal mines, which are Americas s 1 barometer of trade and industry re- | port a general resumption in all parts of the country. Banks have plenty of money to lend. and are fostering the industries. Payrolls are increasing in | mills and factories and business houses are taking back men who were
 suspended. Prospects are declared
 brighter than at any time since the financial furry in New York drove
 money into hiding. This money is
 again in circulation
 Trade centers Cheerful. In New York. Pttsburg, St. Louis, 1 Denver, Omaha. Kansas City, Knox vile. Birmingham. Cleveland, Indan-
 apolis and Cincinnati, the industrial
 centers of the country, this statement | is made;
 Resumption has begun, conditions
 are approaching normal, and the out l look is bright"
 r Briefly, the furry is over and the
 nations industries are resuming their forward stride.
 While there were many. when the l financial furry first appeared. who were l ready to cry panic. and rushed fran | tically to the savings banks to with 1 draw their money. they have now be- come treasured. The steadying in- | fiuences of great combinations of cap | ital did much to restore confidence
 The press throughout the country
 did everything possible to convince the people that they had more to fear from 1 their own nervousness than from
 slump In industries and this was no
 small factor in relieving the strain.
 Money Returns to Bank. | Within the last two weeks a steady stream of gold has been pouring into
 the New York savings banks. It was l the withdrawal of this money that 1 threatened for a time to spread panic l
 more than $20,0O0 900 went into the
 banks in New York city. The effect of
 this was immediately felt. for money became easier and number of fac | tories, which had suspended or were
 running on reduced time because of the i scarcity of money. started In full. The great northwest, which was prac-, 1 tically unshaken by the furry in the | east, acted as governor of the situa- | tion. The farmers enjoyed greater pros- perity than ever before in the history of i the country and with prosperity SO l general in one section it was not pos- | sible that there should be actual dis- | aster in another.
 1 It seemed strangely incomprehensible l to many that there could be financial reverses at a time when products were being shipped abroad in great quanti- l ties bringing back a stream of gold. when mines were yielding up their wealth: when wheels of industry were 1 humming in every part of the country l America, richest country in resources | upon the globe, was humiliated by see- | ing specie payments and cash payments | at banks abandoned, but such conditions. | it was obvious, could not last any great | length of time. The people were too busy
 and too prospefous to stand for panickY conditions.
 From all parts of the country come ! reports of the resumption of those in- l dustries which were temporarily affected | by the furry in Wall street. Men are I returning to the mills. the mines and the l factories. Railroad work is proceeding 1 healthily and construction work Is bes 1 ing projected. l December Broke Record. | With the completion of the record for l Decembers exports of steel, IL became | known that all previous records were 1 shattered. Close on to 90.000 tons of | steel rails. billets beams, blooms. barss | wire, nails, pipe and other products were | shipped through New York and other | eastern seaports to practically every country in the civilized world. Last | months increase over November was ti | per cent, but the total tonnage repre- | scented a gain of almost 100 per cent, 1 when compared with the average months | ly shipments during last year.
 | In foreign shipments last month New | York handled more than seven times as | much as went out via Baltimore and | Philadelphia combined. This Is the ! largest proportion ever handled through
 this city in the history of the trade.
 Grocery Trade Improved. There has been a general improvement l in the grocery trade all week. From | the sudden manner in which the trade
 sprung up after the broken New Yeai
 week, 1t would appear as though it was
 a matter of calendar control rather than | of commercial necessity.
 | The incoming travelling statesmen this week reported small stocks in groceries | throughout the country. This stock must | be replenished now that 1t is evident