The Birmingham age-herald., 1915-12-10
THE COMING OF PROSPERITY

Whether the stimulating effects of the war caused a sudden and recent growth of commercial activity upon the Pacific slope itself or whether the effect of the war was instantly felt in the fall of 1914 in California, there is the assertion of MT. Rich that in the vast region in which the federal reserve bank of Minneapolis is the center this lift in business activity
 came suddenly beginning about three weeks ago.
 In the report Of crop and business con
 ditions in the northwest issued by the
 federal reserve bank of Minneapolis, it is
 stated that one of the most favorable of
 the stimulating impulses is the opening of
 the new plant of the Minnesota Steel com
 pany near Duluth The furnace will re-
 quire 2O00 tons of iron ore a day and will
 be capable of an output of 109O tons of
 pig iron-eVery day. It will give employ
 ment to 1900 men and will pay in wages
 about $l0o,0O0 a month. At present steel
 billets alone will be produced at the plant,
 since there is some delay in compelling
 the equipment of the rails and the other
 mills. This plant, when complete, will be
 modern, in fact the most modern plant
 of the kind in the United States, even in the world
 The federal reserve bank of Minnea D. olis received in November many commun-
 ications which on the whole reflect com
 petent opinion from business men and from bankers throughout the entire ninth federal reserve district From some of
 them it is permissible to quote. George
 H. Partridge, whose name identifies the
 largest dry goods house in the northwest,
 It's business reaching to the Pacific coast asserts that the prospects certainly for
 the six months of 1916, were never more favorable, excepting that the lumber bus
 mess in the far west is not yet well | | la A1 a1t many that this business is to revive speedily.
 T. A. Schulze, who is associated with one of the largest of the wholesale houses of the northwest, the headquart- CTS being at St. Paul. Minn., reports that | the outlook for 1916 is excellent. The benefit of the big crops is to be felt ir the business of 1916, and collections are already the best he has ever known | Everywhere in the United States where 1 there is large lumber business the name l of b. w. Baclus is well known, and he 1 IS looked upon as an exceptionally good authority in all matters appertaining to 1 the lumber business. He reports tha; there is already improvement in that l business, and there can be no doubt thai
 an era of good business continuing into ! 1916 and perhaps longer has begun MT 1 Backus is one of the largest timber op. orators in the Minneapolis district, and 1 he is also prominently identified with very ! large water power paper and pulp inter- ! ests
 l! R. A. Hon, who is identified with a | very important house with headouarters at Duluth and branch houses in Mime. 1 sota, Dakota and Montana, reports that | throughout the entire northwest busi- | ness conditions are now looking extreme
 ly good, although the country is about
 3e days or six weeks behind a year ago | This, MT. Horr says, is due to the weather conditions and in some sections | the lack of sufficient machinery to han. dle and thrash the stupendous crop oi grain grown this year.
 l Gov. l.. B. Hanna of North Dakota writes that bank statements and reports l indicate that large amount of money | is in North Dakota banks, and the farm ! CTS of that state are paying debts. Not | many farmers have been borrowins ! money upon their grain. The state is il excellent financial condition.
 These extracts should be sufficient to furnish good understanding of condi. tions in the northwest About 25 letters
 were received by MT. Rich, and there is practically unanimity of view on the part of the merchants, manufacturers anc l bankers of the northwest which justifies MT. Rich's own statement that withr three weeks there has come a great up ! lift in business in all territory betweer
 the great lakes and the Rocky noun | tains.