Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1910-01-17
FEFN 49,.
Dun's Review Says 1910 Will
Be a Boom Year

r. @. Dun a Co.'S annual reView,
lust published, presents a most en-
c%ouraglng mercantile outlook Tor 1910
and points to the rapid strides made
by commercial and financial institu-
tons during the Last half OF 1909. Al
lowing that some Of the problems
arising In 1907 remain unsolved and
that the question of high prices has
become more acute, the prediction Is
made that the irresistible march Of
progress in industry and commerce
win brush these perplexities aside. In
support OF the contention that 1910 Is
destined to DC a boom year. facts and
figures are quoted in detail. Com
parlson of commercial failures during
the last three years also augurs well
FOR the year of 1910.
The manner in which the forecast
for 1910 Is opened should put a final
quietus on the scattered few who
cling to the belief hat hard times
are still with us.
Business Outlook Auspicious.
Not in u half decade has q year
opened with the business outlook 50
generally suspicious as the year 1910"
begins the review.
IN January, 1907. there was a tre-
meudous volume of transactions, but
already tho clouds Of impending dis
aster could be seen on the horizon.
IN January, 1908, the crash had ar
rived II the business world was
counting the heavy losses. Ia jan
uary, 1909, confidence had been IN
part repaired, but the progress toward
recovery WAS very slow. But in IAN
uary. 1910, the volume Of transactions
IS as large as in 1907, with confidence
supreme ana no impending disasters
casting the shadows before. The OPP
timlsm which usually prevails at this
season Is, this time, apparently well
supported by the facts Of the eco
monte situation
The spirit OF optimism in the iron
and steel trade is referred to as au-
curing wen for 1910, and stress is
laid on the fact that no event, .po-
%litlcal or otherwise, which would tend
to hamper the return of confidence,
is scheduled TO take place.
Good Omen From England.
That the first week of the yea wit
ncsscs u decline in the Bank of ENG
land rate Of discount to 4 per cent,
siguifyin more stable conditions
abroad, is regarded as another good
omen.
A eight falling off In railroad earn
inRs Is accounted FOR by the. weather
conditions and by the s~witehmen's
strike in the northwest Foreign COM
mercc reports lend encouragement,
too. All along the line, with few ex-
oeptiona, Inc song Of prosperity is be-
Ing suns.
Reviewing 1909. the rapid recovery
from the depression of 1905 is dwelt
on at length, but il Is pointed out that
statistics fall to show the fun meas
ure OF the gains made, az tho greater
part Of the expansion came in tho last
SIX months.
10 the farmer and to the fertility
Of the soil IS given the credit of being
basically responsible for the wonderful
uplift. New desires came to the farm
or with the liberal yield, and the
money, flowing back into commercial
channels, relieved the financial strin-
genoy.
Reasons for Rapid Recovery.
An abundance OF capital at reason
able rates, comparative freedom from
political excitement. ana the enact
mcnt of "A new tariff, ending an agi-
tation disturbing 10 trade. and the
disclosures TO the country that the
crisis Of 1907, severe as IL was, had
not in reality weakened the founda-
lions or business, are the reasons Civ
en- for the rapid recovery. in addition
to the contribution Of the farmer.
Commercial failures IN the United
states during the year 1903, according
to statistics complied by Dun & Co,
were 12,92i in number, with liabilities
amounting to $154.603. 465.
The review, considering this, goes
on 20 say;
This Is u much more satisfactory
exhibit han was provided by the pre-
codinp year. with 1850 failures and
an Indebtedness of $222,315,6S4. While
the H. 1875 i~nsolvcncies IN 1907 We're
smaller I'm number. this is more THAI
offset by the S1|97.3S5,22 6 in amount
of liabilities The Improvement last
year was greater in the last half than
In the first six months, liabilities In
the last half OF the year amounting to
only AZ per cent OF the yearly total.
These figures are "a very clear indica-
tion of the extent of the return to
normal business conditions that has
boon made"