New-York tribune., 1911-01-02
COURSE Of OUR INDUSTRIES LAST YEAR
Most of the Contrys Large Corporations Enjoyed '"eVe
month Period of Normal Business
CURTAILMENT IN METALS AND COTTON GOOOS

country Canada. Mexico and south Amer
len could easily turn out 1'65O,OO0.000
mounds ~ the demand required such large
increase. The buying Of copper ior actual
trade purposes showed ma'er'ai contrac-
ton at the end OF the last year ahe II was
considered quite likely that tue companies
would be compelled TO exercise iur'her cur
tailment in 1911.
At the present price OF copper the mar
gin of surplus earnings of copper companies
over dividends is extremely sinall' In the
vear the conner producers co-operated 10 a
greater extent than ever before. Reports
OF the formation of a large copper COM
b;natlon we're frequently heard IN lSlO but
no actual arrangements were made for
an amalgamation. In the coal trade busi-
ness was good most Of the year, and with
the execution of the strikes at The Illinois
ninas there were no serious labor distur-
bsnces in the industry In the year packing
companies enioved a fair gross business,
bua net profits were reduced owing to high
prices of supplies.
At the close of 1910 the sugar market was
quiet, with prices somewhat under those
of the preceding year Leather conditions
were exceptionally poor. Prices were low
and the volume OF sales showed a heavy
contraction. The outlook for this market
however. is more promising. In the dry
goods trade high prices Of raw cotton made
the year extremely unsatisfactory In the
manufacturing department, and while re-
tail operations were considered fair. mer-
chants stated that the trade handled in the
year was far below expectations. Building
expenditures for the year, on the basis OF
eleven months. as figured by "The Wall
Street Journal" approXimated S7l5,0000O0,
compared with $50, $500 in 1909, a falling
off Of about 10 per cent. Compared. how
ever with 1900 aud 19GS, 1905 figures
showed a gain.
In the petroleum industry the event OF
the year was enlarged production and the
declaration of war by the Standard OIL
Company against foreign competitors. The
net profits OF the Standard OIL Company In
the year aggregated 100000, about the
same as in the year before. There was
heavy increase I'm the business Of the
American Tobacco Company and its sub
salaries, which practically control the
manufactured output in this country. The
chief feature Of the rubber situation was
the fluctuation IN the price Of the raw ma
terial. Early in the year quotations touched
the s3 mark, and subsequently declined 10
s135.
The electrical companies reported fair
business, the General Electric Company
showing sales billed OF about S7o,o0o,0oO and
tho Westinghouse Electric and Manu-
featuring Company gross earnings Of about
sT 81, ont M a r
ket a period Of retrenchment was in OK
istence ever since the end OF May. when
Attorney General Wickershams injunction
against the raising Of railroad rates put an
effective stop to the placing Of many new
orders. The last year was an unfavorable
one for wool growers and wool manufact-
urers throughout the country, due TO agita-
tlon over the tariff. natural conditions af-
fecting sheep raising and high prices,
which restricted the market.