Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1909-07-05
PROSPERITY HERE
AHEAD Of TIME
dividend Day. Reports In
dictate Good Times Got
Around Before Tariff Revi-
sion Could Get in Work.

| Especial Correspondence TO Morning Journal
/ Chicago. July 2.-The new prosper
titv. which was timed to begin with the
settlement of the tariff, has upset pre-
dictions in the middle west by put
ting in an appearance ahead OF I'M
Manufacturing and financial reports
show an increase of orders and gen
erai revival during the past few days
that Will mark the month of June ana
rot the passing of the tariff bill IN
July as the official turning point in
the long business recovery. From now
OF. the growth viii be rapid, il is de-
clared. The first signs of a coming
big upturn in trade began to be felt
nearly a month ago by banks and man
ufacturers here which are in close
touch with outside conditions.
Later word was received from o
score cf cities that merchants were
planning to begin buying again on a
large scale within sixty days. The
first of these orders have begun to
come in and now one of the big CHI
cago banks. the National bank of the
Republic, which has large and grow
ing credit relations with Institutions
from Minnesota to Texas and west 10
the coast. predicts a thorough-going
boom in general business by Septem-
Der. "As | look at the situation, ev-
orything points in that direction SAT-
Vice President Fenton, AL
the prospective yield of tn
crops of course viii ave an important.
bearing. The merchants n MANI
~facturers are prepared, | think, to go
ahead as soon as is possible on Il big
scale. There is an abundance of mo
ney in the countrV.
"Our farmers and all the agricultur-
al interests are rich and they are go zig
to spend. There are no surplus stocks
of goods to amount to anything n
any increase in inc demand will make
it necessary to start up the factories
all around. The railroads nave not
bought much material or done muef
in the way of extension or betterneHt
work. Conditions are favorable for
them, however. Their business is i'm
proving and they can get al, the mo-
neN they want at reasonable .'ateS. !
am convinced that we are on the way
to decidedly better times That
business will be in full swing again
by SEPTEMBER
The biggest gains have been made
in the iron and steel business, which
is now once more on a prosperity ba
Sis. The mills OF the country are u. e
ming to very near their fun capacity
and those here report 50 many RAT
road orders in hand that it will be
difficult to keep their promises for
delivery. one recent order was for
$4,000 tons of rails, for the Harri-
nan roads alone. This and other or
Gers will keep the furnaces busy until
winter.
Since January | some forty rail
road industrial me mining companies
enla1 ged their dividend disbursc-
ments to stockholders. The latest fig
ures of railroad earnings show a gain
throughout the country of nearly %
per cen in net earnings over the cor
responding figures of last year. Bank
deposits have Increased materially, es-
pecially in Chicago, where 81 out of
SO institutions show marked gains,
from q few thousand dollars
in the case of the smaller banks to
between three and four millions in
he case of the National Bank of the
Republic. out of town institutions
recently sem large sums of mo.
ney To the reserve c%enters. which has
It's effect in raising the general total
IF Chicago deposits.