The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1911-12-30
palladium Specially


hundred and eleven was a period OF
striking lrresular!ty in trade AMI in
dustry. but despite evidences OF Vide
spread caution and repression. lair
in some lines Il record. business Was
dnc". This. II is conceded. Mas SeNtr
ally a the expense OF profits. Which
latter. rather than the tGgrcsate vol
uiue OF business. came n for Wide
spread complaint. IT was /. Year Ul
generally hist, commodity prices. brnh
en-, however by some remarkable tN-
1remeS of movement ii staples. CauS-
inc especial strain alike upon mann
featuring industry and cunsumptlNN.
and eNtEtuatlnc in lcsstncd Nolum"
OF business ana much ldle machinery.
1t Mas. furthermore. Il Year o: de
cit:td uns"ttlenient, OF ln;.use aG!t,-
ton III some financial as we'll as !l!-
dustrlal lines. which for the first tlN?r
experienced the application Of hi}h,r-
TO untrled methods of legal regulation.
t These. at first viewed with decided
alarm. later lost most OF their tprrorS.
and with the passing of the Year to-
ward its clns,. SomeW hat san'r Nl.NS
OF po!ltico- economic questions led TO
a perCept bic Improvement III general
sentiment. For the purposes OF a
! trade review. indeed the Year should
be divided into TWO parts, With the
first eight months generally d period
OF Gistu- bance. of short time in indus
try, of withdrawals from savings
banks. Of tariff revision and ti:lEerlns
OF crop scares, of closely considered
| hanu-JO-mOuth buying and of Slow col
lectons, while the last four months
was d period of some relaxation OF
caution, of growth OF more cheerful
feeling and of d disposition TO look on
the brighter side of things.
There We're many dra WbackS to
trade and industry aside from real or
fancied obstacles finding their origin
in new applications OF old laws. The
weather was not of the best \ wet
cold spring restricted retail trade. and
widespread drought and excessively
hot weather from May to July dam.
aged crops severely, cereals and foods
for man and beast alike suffering, this
resulting in smaller yields OF and high
er prices for all crops but cotton
which because of low prices at time OF
heaviest movement, showed net re
turn smaller than has been realized
from some earlier crops far lighter III
yield. A wet harvest in the North
, seriously lowered grades.
! In 1911 Wall street acted very much
the part of weather vane, extreme
permission being visible at times
while at other periods disposition tC
view things i'll conserNatlvely optl
mistic light developed. With trust
prosecutions hanging fire, the tend
ency was apparently to fear the worst
I while the actual judicial decisions
seemed to bring an almost undue feel
! ing of cheerful relief. The pressnr,
was not entirely confined to the stock
market. gloomy views then reflected
spreading gradually to other lines and
sections of country. but not affecting
the South until low cotton prices made
their appearance.
! Speculation, whether in stocks OF
commodities, was closely restricted
throughout a large part of the pas
year, but despite this, and as illustra
+ tive Of the fact that capital was moi
entirely Frustrated. new stock flota
! tions were OF large volume. bonds sole
better than in 1910. short-time obllga
tons were actively bought, and the
close of the year finds most stock:
higher in price than at the opening
Withal, money was easy, a reflection
9 partly no doubt, of quiet in genera
trade and speculation. Some idle cap
! ital, indeed. sought more profitable
employment abroad. where, by thu
Way. the course Of international affair:
did not run with entire smoothness.
Domestic trade was large. but no
of a record volume. Repression va:
III evidence in buying, stocks of good:
were kept down. and small and fire
Gucnt rather than large orders were
the rule. Business was therefore, per
haps. less profitably carried on. Basic
condit ions appeared sound, however
economies We're oracticed and credit:
were not apparently overtx t'nded
Collections were made rather slowly
city payments being easier than those
from the country; but, except in part: