White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1912-10-06
ALL BUSINESS ON
SOLID FOOTING
TRANSACTIONS EXCEED PRE-
VIoUs RECORDS IN PRESIDEN-
TIAL YEAR-RAILROADS FACE
CAR SHORTAGE.

Reports from several commercial
centers go so far as to claim that con-
sumption is tied with production in
many lines, and outstripped it in
others. Confidence is high, pessimism
is Frustrated and energy is rapidly
establishing a normal and healthy
business restoration. What is par
ticularly gratifying and. at tie same
time, p~ersuasively convincing of the
solid footing upon which trade is now
being conducted, is the participation
of almost every line of activity and
every section of the country in this
commendable advance, says Financial
American which continues:
Taking the general trade situation
far and wide, the volume of transac-
tons is in excess of that of all but
the very best years the country ever
knew at this period. Moreover, there
is not in evidence a tendency to over
do things. The purchasing Is steady
and buying by traders is conservative
and consistent. The situation is re-
markedly free from either speeula-
ton or artificial stimulation. The
pending political campaign seems to
exert not the slightest influence in
business channels; but next month
when the triangular contest reaches
the acute stage. and the spellbinders
start in earnest, a change in this re-
spect may follow.
Railroads are limited in traffic
movements only by available a sup
plies. Shippers are beginning t o COM
plain, but the railroads are taking
care of the farmers and their crops
and business circumstances will not
after this situation. Several weeks
ago the shippers were admonished as
to what they should do to avoid a car
shortage and inevitable congestion,
and If they neglected to ease the stu
alton they cannot complain at this
date. The heavy crops must be NOV
ed and this fact the business world
must recognize. The surplus of all
freight cars on It's railroads on Sep
TENDER IL, was only 27,3S0; the
shortage vas $4,000, leaving a net
shortage of $3.50 cars.
Among the farmers there is a
disposition to market their grain
early and not to hold it, as in recent
years. This would seem to indicate
a heavy purchasing movement by
them later, which, in itself, should
greatly stimulate business and lead
to a further enlargement or expan-
sion in its volume. Once the harvest
is over, some authorities claim that
an enormous increase will be record
ed in the volume of weekly business
transactions"
The strain upon the money mar
kets for crop moving requirements
and for business accommodation has
lead TO an inevitable hardening in
rates. Tight money has already ma
terialized; but, as it had been antici-
pated, neither surprise, nor confu-
sion has followed its e~ventuation.
Here and throughout the country. in
the west particularly, We have been
assured that the banks are we'll sup
piled with cash and feel no uneasi-
ness over the present monetary situa-
ton. The general belief is that after
the crops are moved the strain will
be eased and money will then be
plentiful and relatively cheaper
The security markets still lack the
support of the public. Their ranges
are narrow but with a strong under
tone. and buying by insiders is their
principal feature.
Evidently the lesson of 1907 is be-
ing borne in mind, and money that
went into speculation then is going
into business now. Later, specula-
tive activity will come. The bond
market is dull and l~istless.