Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1913-01-14
Dun AGENCY'S
annual REVIEW
The New Year

The new year opens with all the ga. n
and advantages achieved during the las
half of 1919. There is. of course. tn
lull usual during the closing days of The
year due to the holidays and the annia
readjustmcnts and Inventories; but M
DERIVING. conditions remain unchanged
and the new year takes over from tn
old the increased agricultural wealth re
Suiting from the big crops, the great nc'
tivity in the largest industries. cspc'
cially iron and steel. the augmented con
fidencc in nearly all branches of domcs-
tic trade, the record breaking foreign
commerce and the fun employment OF Ia
Dor at high wages, insuring large buy
,lng rover. With this legacy from 1872,
maintenance OF a satisfactory vol
- Of business, during ut least the ear
months of 1913, is apparently as
Further than that even the most
~ ed foresight cannot safely prog
4, Tor m.II1r will depend this year.
~. on the yield of the farms and
49, ~.,Iopments in international ana
M1IdnaI governmental policies. When
it is said that bank ~clcarings during
1912 increased 9.3 per cent. over 1911
and 6.6 per cent. over 1910, and most Of
the gain was made in the last six
mouths, some idea is obtained of the
immense advantage with which the new
year starts over the conditions existing
twelve month"; ana tWenty-four months
ago. Railroad traffic. moreover, is very
heavy, the latest statistics Of gross earn
ings showing n gain Of SIS per cent. in
the three weeks of December. The us
uni shutdowns in the iron and steel
trade ut this season have been very
short because of the great demand for
all products. In the cotton and wooden
trades the seasonal slackening of bust
ness indicates no fundamental change in
conditions. for the outlook is an encoL-
raging one, in spite of probable tariff
legislation. The output is practically
limited by the capacity Of the plants and
the supply Of labor. From all the lead
ing cities. both east and west. the end
of-tle-rear advices are satisfactory in
most Of the material points and generally,
optimistic spirit prevails. In cotton
the - fM1Incfng fdctors ara the large
POI Neeipts. which confirm the indica-
tiona-y a crop second in size only to
thai Of the preceding year and the bis
exports and domestic trade. In the shoe
trade. with the exception Of the holiday
let-up. conditions are excellent and pro.
duction is near to caracity. The strin.
gency expected in money at the year-enh
failed TO materialize. comparatively cas-!
terms prevailing both here and abroad
Partly because of the easier conditions
locally. there was a sharp advance in
foreign exchange; vet rates are still con-
siderably lower than last year. The
foreign commerce Of the port Of New
York in the latest week amounted to
500, 3SS. 774 against $2S. 99S. G62 in 1911. and
$332. 400. GAS in 1910. Exports were larger
and imports less than in 1911.
Operations in iron and steel continue
practically at full capacity. There is
still an urgent demand in finished lines
and premiums are readily paid for avail
able material: crude steel is very scarce.
with but small onnages on the open
for January and February. Wire
products are being held firmly at the re-
vised quotations and heavy buying is
noted for the first quarter. Prompt
STRUCTURAL material is quoted at SLIGO by
mills. Merchant iron and steel
bars continue in strong demand, with
closed for the second quarter,
and sEeets and tin plate are moving
briskly. There is no apparent slowing
in railroad buying, additional pur-
.hases of about $4,000 tons of rails being
this week, together with an eX-
port order for 10000 tons Sales of rails
in December are estimated at about 5OO.-
coo tons and business in other equipment
was also large. Temporary quietness
prevails in pig iron. the bulk Of merchant
output having been taken for the first
quarter. Fancy prices are still paid for
cfne.
Trading in footwear shows the temper
.ry luli usual at this period. but the pc.
siti0n Of the market is satisfactory, "a
local johbers rernrt business good for
tho ceocnp and u,nctical1y all ,nanUfac-