The Cairo bulletin., 1908-11-16
New York Nov. II, 1908.

If tho day Is the unmistakable re
yival Of business in many directions
or course, Improvement Is much
more pronounced In some quarters
than others, but the recovery is most
certainly genuine and not Of the
imaginary sort talked about by last
summers prosperity" boomers
| There is no extraordinary prosperity
nor boom in sight, aud none is de.
sired, for the country has had enough
OF such and their disastrous reac-
tons, and simply requires Il gradual
4 ana steady resumption of normal az.
| tlVities, such as il Is now experience
ing. All that he country needs for
the present is 20 be let alone for Il
period in order to recover its nerve
and wonted activities
II we look for the quarters in
which recovery is most pronounced
We find ii in the building ana engi-
n2cring trades This was TO be eX-
pected A great many important en-,
terrriseS were in course of construc.
tlon or about 10 be initiated when
the panic came. These WORKS. more
over were often very urgent in their
character owing TO the rapid growth
OF our great cities Congestion o.
traffic and the great demand for new
homes and Office buildings made
many of these enterprises imbera- :
tive. The great pressure upon the
railroads for better terminal facii-
ties and greater carrying capacity is
already an old story; and their eX.
eessiye demands upon the money
market in 1907 was no doubt one OF
the elements which brought on the
financial crisis that for nearly a year
Paralyzed all industrial pursuits.
With easier conditions in the money
market and with gradual revival of
coIfldence these activities are being
resumed; and now that the
last element Of uncertainty the
presidential election, has disap-
peared the chief shackles upon in.
dustry have been lOosened. Another !:
very important aid TO resumption has
beer the decline in raw materials.
High costs OF production and opera
ton, the enevitable aceompaniments
Ct the late loom, have been a serious
hindraacc to recovery Raw ma
.ella $ however, underwent con
80 ralle. decline after the panic.
M this feet together With the rigid
cchimies recently enforced material.
Y facilitated a fresh start Ii is es.
mated that office buildings. apart
hchtS and other engineering Struc
ureE can now be erected at cost
u 10 to - per cent less than a wear S
n two ago. Steel, lumber and bricks i
aci having undergone considerable /
colines. Wages have not been re-.
uccd, but labor is in a much more
aticnal spirit than formerly and its
is undoubtedly better. ! ,
'ome Idea of the increased activity
4 building Is obtained from the regr- :
ar trade authorities, which show
hat building expenditures in % lead.
~ cities during October were nearly :
4 per cent greater than I'm October. g
ao7 while the increase IN Greater
lew York in the same period was as
inch as 20 per cent THIS com
rison IS made with a time when :
,pression was beginning in the
Gildmg trades bpt had not reached
: climax nv atty means: and the a
CURES Just quoted show a surprising
avival in an important . industry.
'reshadowng a growing demand for
eel and all other building materials. H.,
be signs of recovery extend also to II
her lines of business. The cotton
Jods trade is much more active ~
IAN at any time since the panic. =
at liberal orders are being placed At u
Il ancing prices There are fewer 10
le cotton and wooden mills than q
" many months. Interior dis VI
ibutors are now filling up their NJ
lelyes with larger supplies OF dry e.
'ods and groceries. stocks having III
'er much depleted by prolonged al
Iuticn in purchases. The west con si
lues optimistic and prosperous. 10
anks to a profitable harvest. and on
ere Is every prospect of a good fall OF
" winter trade in all parts of the I'll
untry from Maine to California and "a
ON Dakota to Florida our rapid a.
nergence from depression Is re- \,
We plunged more deeply, =.
1T any other country into the
rugh Of despond: and a. usual We ~
. leading all others IN the path TOT -
iids recovery. This Of course IT, ex- al
,inei hy our great national re- pu
urces. by our great wealth ami By ioi
q general financial soundness sa
ckel by the indOmtable optimism vi
iich eharactenzes the Americanloi
irit. Later on Europe and Great all
itain will follow our example. fori AN
Iich there Is great need. especially sid
the latter coUntyr. els
stock marFet suffered some Oh,
AT from a reaction. partly becausei Al,
p Hartman lines failed 10 DO what re-
Is e1Ieeted hy raising Union Paci- 81
iivifend and providing for r. O.
-H.eHt % S0utheIn Pacific pre- .,.
-re.L The market really took the.s -.
appointments more seriously Thanh -.
b. justified. The truth D. that
u Er hal raa.-rHeH % Ill 80 -. l-. ] i-