The Thibodaux sentinel. (Thibodaux, La.) 1905-1912, 1910-01-08
1909 WAS A RECORD YEAR
Business Surpassed 1867 in
Many Instances.
confidence HAS been RESTORED
fig-lrOn Production Greater Than It
Ever Was. Capital, Labor and Con-
gressional Possibilities AZ
feet Outlook.

New York-It was possible to looA
from 1908 into 1909 and predict
with reasonable certainty, a year oi
large measurements in every direc-
tlon. The greatest optimist of year
ago has had his judgment sustained
The country, once confidence had
been fully restored, went ahea1 81
:. a rapid gait, and in many directions
Y has Hot only reached the summits
&c 1905 and 1907, but gone beyond
them. Pig iron production has been
greater than ever before. The total
is, 25,S00.000 tons, as against 25,-
100000 in 1907. So have railroad
earnings. J.. j.
The volume of output in many
leading industries has established a
new high water mark. Building all
over the country has never been SO
active as this year, nor has it repre-
sented SO great an investment of cap
ita@, On the other hand. it has been
year of greatly reduced totals in
such important items as immigration,
railroad construction, building of
railroad equipment, production of
steel rails and use of copper. Copper
has been mined at an unprecedented
rate, and like pig iron, provides a
new record, but consumption of it
has not kept pace. Consequently un-
used supplies have at times been
equal to about 10. per cent of nor
NAL years output.
With trade, therefore, jumping
from so or 20 per cent of normal to
volume that had never been reach
ed before 1907, it is a different prob
lem that the prophet of the future
has to deal with when he sets out to
suggest what may be in store for
the year 1910. Bankers, railroad
presidents, great merchants and man
ufacturers are found to be exceed
ingly cautious in what they predict
for the next twelve months. Fac
tors governing their sentiments and
those that enter into the calculations
of the man in the street are indicated
in what follows
Relations between capital and la
Dor and between wages and the cost
of living will occupy the same place
In 1910 that anti-corporation legisla-
ton promised to take in the early
part of 1909. The first business of
the railroad companies next month
will be to adjust matters OF pay and
rates. If. by arbitration, the matter
Is settled to the satisfaction of both
sides employers will go ahead with
the plans they have under considera-
ton. If wages are raised and rates
remain stationary 1t will be dull
year for manufacturers, railroad |
makers and a prolonged |
period of waiting for communities
that are depending on new mileage
for the development Of their re-
sources Concessions by the rail-
roads in the shape of higher pay will |
organization is seeking an
Increase and the railroads are deal
ng with larger and more determined
lnits than ever before.
This question is much more serious
han any that may come up in Con-
gress or in state legislatures looking
% the regulation of railroads. The
effect of 1t is direct and immediate.
Furthermore, it is a permanent ef-
'ort. The tariff has been revised
= ho Df &c 70, |
t was under the old schedules The
country partially suspended business
Until the Aldrich-Payne bill was pass
ID in July. Now it is suffering again
because of the superficial treatment
# the tariff question, which, to the
.verage man, does. not change in the
east the situation in domestic econ
my.
The year just closed was one of
,reat ease in money. during the first
alf, and of moderately firm rates
fter the interior demand for cur
ency to move the crops began. For
nonths money was a drug on the
aarket, call loans ranging from 10
IL per cent. and three and six
1onths' loans quoted from 500 1-2
er cent. At no time has money BEEN
carce
AS to the railroad situation of the
en- railway. presidents who contrib
ted views year ago, one was Of
he opinion that there would be an
arly enlargement of gross earnings,
ut all of the others expressed the
elief that improvement at best
'ould only be gradual. Improvement
l earnings began early in the year,
nd continued up to the latest fig
res, which show a gain of $26. 6.077.-
900. or - per cent in gross, COM
ared with 1908, while net for the
anne period increased by $780,
90. or 16 IA per cent.
Joseph Chamberlain, the aged
ritish politician, gave out an cleo
on manifesto in which he advocated
protective tariff, reciprocity with Z,
t:oh |