The San Francisco call., 1908-11-19
Call's Page Of Commercial News

normal nor activities, such it is now experiencing
All that the country needs for the present is to
De , let alone for period in order 10 recover
IT'S nerve and wonted activities.
BlllDlNG AND ENGINEERING TRADES
II we look for the quarters in which recovery
- most pronounced We ind it IN the building
and engineering trades. This was TO be ex-
pecled great many important enterprises
were IN course of construction or about to be
inislatedN ldlaN when the panic came Ihese WORKS
moreover, were often very urgent III Their char-
utter owing 10 the rapid growth OF our greet
cities. congestion Of traffic and the great ue-
nand Tor new homes and office buildings made
many OF these enterprises imperative. Inc
great pressure upon the railroads FOR better
terminal facilities and greater carrying capacity
demands upon the money market IN 1901 was
no doubt one of the clements which brought
on the financial crisis that for nearly year
paralyzed all industrial pursuits Nlth easier
conditions in the money market and with
gradual revival of confidence these activities
are being gradually resumed, and now that the
last element of uncertainty, the presldential
electlon, has disappeared the chief shaekles
upon industry have been loosened. Another
very important aid to resumption mas been
tne decline in raw materials High costs OF
production and operation, the inevitable accom-
pahlments of the late boom, have been serious
hlnqTahce TO recovery. Raw materials, however,
underwent considerable decline after tne
panic, and this fact, together with the rigid
economies recently enforced materially facili-
tated fresh start IT is estimated that office
buildings, apartments and other engineering
structures can now be erected at cost OF 10
steel, lumber and brick each having under
gone considerable declines. Wages, have not
been reduced, however
ACTIVITY IN BUILDING.
Some idea of the increased activity in build
ing is obtained from the regular trade au-
thor1ties, which show that building expendi-
lures In 30 leading cities during October were
nearly Al per cent greater than in October, 1907.
whlle the increase in greater New York i'll the
same period was much 76 per cent This
comparison is made with time when depression
was beginning in the building trades but had
not reached its climax by any means, and the
ngures just quoted show surprising revival in
an important industry, foreshadowing a growing
demand for steel and all other building materials.
The signs of recovery extend also TO other
lines of business. The cotton goods trade is
much more active than at any time since the
panic, and liberal orders being placed at
advanced prices. There fewer idle cotton
aud woolen mills than for many months. Interior
distributors filling up their shelves with
larger supplies of dry goods and groceries, stocks
having been much depleted by prolonged caution
IN purchases. The continues optimistic
and prosperous, thanks TO profitable harvest
and there is every prospect of good fall and
winter trade in all parts of the country from
Maine to California and from Dakota to Florida
Our rapid emergence from depression is remark
able''