The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1912-01-04
REPRESSION But
NOT |PR0STRAT|0N
IN BUSINESS YEAR
Review Of Conditions
for 1911 Causes
Optimism
STOCKS ARE SNAIL
With Easy Money Coming
Year Almost Certain TO
Show Improvement
STOCKS ARE SMALL
With Easy Money Coming

New York City.-Bradstreot's re-
view of the business wear closed as
follows
Nineteen hundred and eleven was
a period Of striking rregularity in
trade and industry, bat despite eyi-
tences of wide spread caution and re-
preston, lair. in some lines a record
business vas done This IL IS conced-
ed. vas generally at Tie expense OF
profits. which latter rather Than the
aggregate volume Of business, ame
IN ioc widespread complaint II was
a year OF generally high commodity
prices, broken. however, BY some re
markabie extremes OF movement in
staples. causing especial strain alike
upon manufacturing industry and
consumption, and e~Tentuating a less
ened volume Of business and much
idle machinery. II was, furthermore
a year OF decided unsettlement, OF ill.,
tense agitation IN some financial as
vel! as industrial lines, which Tor the
first time experienced the application
OF hitherto untried methods OF legal
regulation. These, az first viewed Win
decided alatm, later lost most oil their
terrors, and with the passing Of the
year toward III close somewhat saner
views OF politico-economie qustions
led 10 4 %perceptibIe Improvement in
general sentiment. Fer the purposes
OF q trade review. indeed the year
should be divided into W parts,
with the first eight months generally
4 period OF disturbance, oil short time
In industry. OF Withdrawals from saw
ings banks, OF tariff revision and link
ering, CT crop scares. of closely CON
sidered hand-to-moutn buying and OF
SLOW collections, while the last four
months was 4 period OF soma relax
ation Of caution. OF growth OF more
cheerful feeling ana OF 4 disposition
to look on the brighter side OF things.
Many Drawbacks.
There We're many drawbacks 10
trade and industry aside from real Or
ia ncled obstacles finding the.r origin
in new applications OF old laws. The
weather was not Of tho best. y Wet
cold spring restricted retail trade, ana
widespread drought and excessively
hot weather from May TO July damag-
cd crops severely, cereals and foods
tor mar and beast alike suffering, this
resulting In smaller Yields CT and
higher prices Tor al crops but cotton.
which because CT low prices at time
OF heaviest movement, showed a net
return smaller than has been realized
from some earlier crops far lighter in
yield. y wet harvest in the north SCR
tously lowered grades
In 1911 Wall street acted very
much the part of a weather vane, eZ'
IRENE pessirnism being visible at
times, while at other periods a dis
position to view things in a conseiya-
lively optimistic light developed
With trust prosecutions hanging fire
the tendency was apparently to fear
the worst. while the actual Judicial
decisions seemed TO bring an almost
undue feeling of cheerful relief. The
pressure was not entirely confined
TO the stock market, gloomy views
then reflected spreading gradually TO,
other lines and sections Of country,
bur not affecting the south until low
cotton prices made their appearance.
Speculation, whether in stocks or
commodities, was closely restricted
throughout a large part OF the past
year. but despite this, and as Illus
trative the fact that capital was not
entirely Frustrated, new stock ilota-
lions were OF large volume, bcnas
sold better than in 1910, short-time
obligations were actively bought,
and the close OF the year finds most
clothS itlSiSt III pittS 'hCi ~ "hS
opening, Withal, money was easy. a
reflection partly, no doubt, OF quiet
In general trade and speculation.
Some Idle capital, indeed, sought
more profitable employment abroad,
where, by the way, the course of in
ternational affairs did o run With
smoothness.
Home Trade Large.
Domestic trade was large but not
4 record volume. Repression was in
evidence In buying. stocks of goods
kept down. and small and fire.
quent rather than large orders were
The rule. Business vas therefore.
perhaps. less prodtab bly, carried on.
-. -x.- ----%- r-,rl liza