The Washington times., 1915-12-26

Never before probably in the history
OF the country has American business
in all of its aspects confronted new
year with so general feeling OF con-
fidence as that with which it will en-
ter upon 1918.
Retail and wholesale trade has es-
tablished in the holiday dealing A
record which exceeds any figure es-
tablished during the past half doz IN
years. Within the last ninety DAYS
domestic manufacturing has increaS-
ed in degree that only a few months
before could not even have been hope !
for, and the demand for building ma =
terials adds its promise to the fs"-
tors that point to a still further de-
gree of prosperity.
Christmas trade this year. according
to reports from the leading cities OF the
country to the weekly trade papera.
broke all records In history. With it
came increased activity in practically all
lines. especially in the steel industry.
where prices OF many products are the
highest in years. 1t is estimated that
mary industries have business booked
ahead to keep them busy for at least six
months. or trade conditions Bradstreet's $
saws:
"A record breaking holiday trade ac-
companies evidence OF extraordinary
activity in industrial lines. reports of
light stocks almost everywhere, market
strength in grain and higher r1tto Ion
prices, good collections. heavy railway
traffic. smart activity in employ ment at
relatively high WAGES. widespread dis
tribution of bonuses. increased incomes
from Notwithstanding investments. and
strength in the stock market
"On the other hand. wholesale fra de
has reCeded somewhat. in Cons0nance
with the season of Near-">d inventory
ing, which takes statesmen from the
road and causes this branch OF enter
prise to temporarily mark time.
"Jobbine trade. beca use of the necas-
sitY for filing in depleted stocks. is
rather less affected by seasonal changes
than wholesale distribution. in which
line business was done up to the last
moment, thus indicating very short
one. In fact, some lines continue TO
experience an overflow of orders. and
indeed. number of points report the
iobbing trade has increased rather than
decreased.
In short. the situation ms whole
is an extraordinary one for a period
thet usually sees business in the larger
channels at rather low tid" and Al the
80 me time business for snring is COM
ing rut in an encouraging manner
When the feeling OF betterment OF
conditions in American business first
began to Dervade the general public.
that improvement vas accredited and
could be traced primarily and principal
lN to industries engaged in manufacture
ing munitions and other supplies thai
went to man and maintain in the field
the great European armies. Today the
industrial instruments OF peace are
claiming their share in the furtherance
of prosperity.
Th" corporations engaged i'm the man.
utacturc of war supplies have, with
Sc freely an exception found their con-
tracts fully as profitable AS they had
expected. but those employed in the
p' oduction of material for reconstruct
| non rather than for destruction have
| enjoyed greater degree OF prosperitV
man they dared to hope for at the end
! 2t The second quarter of the calendar
year. The upward swing Of the pendu-
lum has received Its greatest accelera
ton during the last ninety days.
Now domestic demand is the motive
| power that is driving the wheels of IN.
dustry to the limit OF their speed and
| which seems to possess sufficient re.
| serve energy to keen them revolving n
! this great pace for months. possibly
years. to come. During the long period
| of depression throughout the country q
! hand mouth purchasing policy had
| been the rule from tho hearthstone II
| the counting house. Now the country
| has found its stocks so depleted hV thu
| emergency buying OF Europe coming oI
| tho heels Of its own prolonged econ
| omies that the pu Ners Of production
| have been taxed to capacity while th'
! transportation industry. whose frugslits