Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1913-01-07

of the year In wholesale lines was that
Immediately preceding the election.
OF the real substantial drawbacks Of
the year might be mentioned cold
weather early; a wet. cold, backward
spring and delayed agricultural oper-
ations. which acted as repressive eie-
ments. The first five months Of the
year We're periods Of relative dullness
In demand in many lines. and espe-
cialy in retail distribution, but with
the growth Of assurance OF large
crops, trade and industry gathered
confidence; demand, though tempered
by conservatism, expanded greatly,
and the last seven months comprised
season of activity; this despite draw
backs such as an unseasOnaby; mild
fall, which restricted retail opera
tons the high, in fact record, levels
of commodity prices, which conceded
ly narrowed margins of profits; def
Ciencles in transportation inseparable
from the distribution of record crops
and enormous industrial outputs, and
the tightness Of money attributable
alike TO domestic crop moving and
commercial needs, and strained for
elgn financial conditions which pre-
vented the normal movement hence
Of gold in settlement OF our unprece-
dented export trade.
Favorable conditions are in the ma
iority os the new year opens. Easily
| first in this category are basic crop
results which tend to exert a steadily
widening influence as they pass into
/ human and animal consumption. To
on extent probably never before eX-
/ ceeded, the crops have been gathered
housed or marketed In good condl-
/ ton, and cheaper food which lies at
/ the base of all industrial feaure. AS
| to future crops. It may be said that
/ the winter wheat crop starts out with
better condition though with smaller
area than a year ago. orders now
on the books of manufacturers and
wholesalers are sufficient to keep
most lines busy until spring arrives
| In lines where bookings run beyond
! the spring and up to the fall rs in
iron and stcela some lines of tex
/ tiles, raw material prices abroad as
/ well as at home render sharp chang
es in manufacturing costs unlikely
| Active employment of all able or will
I ing to work is not In the least i'm
portant foundation for futude good
/ consumptlve demand. Conservatism
bred OF past years of strain has made
/ for cautious buying. and nowhere are
burdcnsome stocks pressing for sale
while activity in trade abroad. with
high prices prevailing, precludes
dumping of surplus foreign goods CO
incident with the confidently expected
revision OF the tariff 1t seems to he
the consensus that this latter opera
tion should be pushed rapidly to n
conclusion in order that the period Of
uncertainty shall be limited, and the
calling of an extra session for early in
April will he In line with this desire.
Pending action on this matter. busi-
ness operations will probably continue
to he governed by conservatism, but
not by pessimism In this connection.
the firmness of the money market
will have. II anything, a favorable
effect by tending to limit speculation
and 20 modify what might otherwise
tend TO he oversanguine reaching out
for new fields OF endeavor. A volume
of business ample enough to allow Of
fair margins of profit seems within
sight of the first half Of this year, and
beyond this conservative financial.
commercial and manufacturing inter
ests will hesitate to operate extensive
ly until something definite can be
known Of the ultimate crop results OF
1913.