Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-12-30
Hoods Sarsapariiia

| dence in buying. stocks of goods were
kept down, and small and frequent rather
than large orders We're the rule. Bust
ness was therefore, perhaps. less profit
ably carried on. Basic conditions ap-
peared sound, however, economies were
practieed and credits We're not apparent
ly over-extended. Collections We're made
rather slowly, city payments being easier
than those from the country; but, ex-
cept in parts of the northwest where
past crops had been deficient, and from
the south, where iow-priced cotton late in
the year repressed both purchases and
payments, no real concern seemed visible
Wet or mild weather retarded retail
trade in December but holiday trada
was of good volume.
Commodity prices justly came in for
blame as hampering some industries.
Thus. high-priced cotton and failure to
place goods made therefrom caused much
short time from January we'll into Sep
TENDER Later. uncertainty as to the ex-
tent of the decline hampered dealings
Efforts to sell iron and steel We're not
crowned with success until low, perhaps
cost, prices We're reached in some in
stances. Then, however, consumers acted
promptly, anu ditHOAEu the EdltTDduS
were out of the market early in the year
their purchases of cars and equipment
later on was welcome support to the
market. Building was quieter than IN
the preceding two years, but still ex-
pendtures bulked large In the years
operations. Foreign trade made new
records. Exnerts especially, were helped
early by lower prices for foods. and E,tl-
ropean markets wore reopened to our
cereals and meats. while iron and steel
and cotton also swelled the balance OF
trade in this country's favor Later on
low prices for cotton reduced the fay-
orable BALANCE slightly. Imports despite
reduced purchases of manufacturers ma
terials, We're only shade below the 1910
record. Labor came through the year
quite well. reductions in working time
rather than in wages paid being the chief
characteristic. The number of strikes
and of strikers was less than half those
of 1910. The number of those in business
increased. largely during the year. but
the number failing was not greatly en-
larged, and liabilities in fact fell off
Looking Forward.
One Of the most notable features in
many lines of trade and industry as the
year draws to close is the air of con-
servauve cheerfulness in evidence
While there is testimony to this having
solid basis in actual Improvement al
ready registered it is plain that some of
it has had its rise in the feeling that
there have been many worse years in the
country's past history. and in the very
apparent belief that some of the year s
doubtful questions have been settled 1t
| may be well. however. to call attention
| TO few eautienary signals that are visi-
! BILE. The coming year will IN all proba-
| bility witness an actively fought if not.
| indeed, a very exciting presidential cam
| paign. efforts by both the party in power
and that in opposition TO play politics
and incidentally tinker with the tariff.
and il no doubt will see continued efforts
to put the antitrust act to further use
in legal way. Then. too. present and
probably future high prices for food will
constitute a bar to fullest buying of the
secondary necessaries of life. Finally.
the effects upon consumption of short
ened agricultural yields. or, as at the
south, of much reduced financial crop re-
turns, are yet to be reckoned with. On
| the other hand, IL is probably true that
under existing conditions neither presi-
dental election nor prospect of tariff
revision creates the feeling OF unsettle-
ment that it formerly did. Furthermore
| the basic facts cannot be obscured that
| stocks of goods are down to hard pan;
| that any change after two years of re-
| preston and of growing up to the coun-
| try's productive capacity is likely 10 be
in the direction of expansion; that money
| is and promises to be reasonably easy
| thus inviting new Investment, and tina,
new crop prospects in the spring are a
source of possible stimulation.