Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1911-01-01
OVERPRODUCTTON MARS TRADE
Business Inactive in Latter Part Of
the Year.
SMALL ORDERS. THIN PROFITS
AnrfeuIture shows Notable Improve
ment, with Remarkable Yields
Of staple CroBa-But Lit
tie Speculation. cd.

OF staple Cropa-Hut Ltt-
tie Speculation. ..
Business. which in 1909 was depressed in
The fret half Of the year and became very
active in the second half, reversed the
order in 1910, being active in the first half
but depressed In the latter half. II was
not until June that the basic iron and steel
trade began to show the signs Of over
production and diminishing consumption
but AT the end OF the year production was
computed to be only 80 per cent Of present
greatly enlarged capacity. The dry goods
trade experienced less violent change In
conditions. but with high costs OF pro-
duction, and with an absence Of buying
by retailers for other than immediate ne
eessities, the year was. for both manu-
facturer and iobber. one Of diminished &C
tvity and narrow profits. The industrial
and mercantile situation In other lines
was as a whole, fairly represented by the
conditions prevailing in these two great
branches. BY the end Of the year how
ever. the money market everywhere dis
played signs OF increasing ease. In spite
OF these conflicting but in the main disap-
pointing developments. the year presented
q number Of encouraging features Agri-
farm products in this country Of over
5000 10000. with record-breaking corn
crop OF over 5000 600 bushels. Notwithstand-
ing the reaction OF the past six months a
vast aggregate Of transactions was
achieved, and labor on the whole was well
employed at continued high wages, and
building operations were extensive The
census disclosed an enormous increase in
the population. Signs Of increasing
economy in living and increasing prepare
.tion for new advance in enterprise mani
Tested themselves An encouraging de-
mand for bonds sprang up at the close OF
the year. The absence OF demorazing
speculation and the prevalence of a sound
conservatism were the best safeguards for
the future. Again the bank clearings
proved their right TO be regarded as one
3of the best tests of business conditions.
In the first half Of the year they increased
s5 per cent over 1909, but thereafter began
10 decline progressively the heavitAt loss
being, however, in New York. owing TO the
stagnatlon in the speculative markets.
Yet the total OF olearings reached figures
slightly below those OF last year, which
were $50, 40O.OQ0OO0 in excess Of 1909 so that
1910 will appear statistically as one OF very
fair dimensions; and II Is noticeable that
cas- II drew TO close a more cheerful and
leonfident feeling generally prevailed as
10 the future
Agricultural Results.
Notwithstanding lower prices on many
products and a reduced yield of wheat
the farmers Of the United States have
again enjoyed the distinction of being tine
worlds greatest wealth producers. the
total value OF all agricultural staples for
1910 having been officially estimated at
close to $4,000 100000. OF the principal crops
OF the year corn easily holds first rank
sby vide margin. the unparalleled har-
vest OF a125,71s,OOO bushels being worth not
less than $3.50, 10000. while cotton comes
next with an estimated return OF roughly
S9OO.0O00oO The Yield OF hay was some
what smaller than in 1903, but the average
price was higher, and this product reached
value of virtually ST5OOO0.OO0 and wheat
is fourth on the list at about 1921 .OOO, 900
For the second time on record, the cror
OF oats was in excess OF billion bushels;
yet, on the other hand. the principal cereal
crops were worth considerably less than
In the preceding year although this 3.
crepancy was more than offset by the
heavy gain In the value Of animal prod.
ucts. in the case OF corn. the area under
cultivation was the most extensive ever
known at 114.OO2OOO acres. while the ground
given up TO wheat was about 100000 acre,
in excess OF the previous season, although
the falling off in spring wheat was greater
than the increased yield OF winter wheat
new high water mark was established
on oats an unprecedented harvest Of 1lae,
i65,0Oo bushels being raised from an acreag,
of IS, as 900 but the yield OF barley wal
about 100000 bushels smaller than in tn,
previous season, Notwithstanding a mod
crate increase In the acreage Prices OF
wheat and corn declined almost contin
uously during the last year option values
on both products at the opening OF De
ceRber being almost 20 cents per bushe
cheaper than on the corresponding date IL
1903
More Cotton Produced.
While some time must elaspe before tn,
outcome OF the cotton crop for 1901 car
be definitely known. II is at least Ger
tain that the yield will be in excess o
the previous season, and the government
has estimated the difference at somewha
over 100000 bales. II Is considered ex
tremely likely. however. that the margin
win be even greater than this figure be
cause the latest available ginning return
show total in some states almost eaua
The indicated crop OF course. does no
fulfill the sanguine expectations enter
tained at the beginning OF the season a
it was believed that a record breaking
yield might be secured from the enormou
acreage planted. Climatic conditions agaf
proved adverse however. low temperatures
drought and excessive rainfall causin
much deterioration so that ultimately onl
AN average crop was expected. This le
10 renewed activity on the part of IN
speculative element and that last year hs
witnessed further violent fluctuations an
the highest prices attained in almost fou
decades. on the other hand, there weT
periods when acute depression prevaile,
a drastic decline In January carrying IN
May option down 10 1874 cents. but thi
weakness was followed by a recovery this
eliminated in the top point OF the yea
spot midding unlands at New York touch
ing ls& cents When the government est
mated In December confirmed expectation
OF crop under 100000 bales there was
sharp advance that carried the May Of
ton 20 1874 cents and during the create