The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1917-01-01
MONEY MARKET IS
INGlOD CONDITION
Dun,s Review for Week
Shows Falling Off Due
to Inventory.

81
Results during 1916 surpassed the
most sanguine expectations, evidence
Of the unexampled business being
found in every statement that appears.
1T has been a period of unprecedented
achievements in finance, trade and In
dustryi with the maintenance Of con.
eumptiye demands in record volume,
notwithstanding the highest prices of
modern times, the outst Ilding fea-
ture. The year closes, however, with
rather general abatement Of purchas.
Ing, and with the question OF future
readjustments entering more largely
into calculations Yet a certain hest.
tancy and slowing down is natural at
this season, in view OF the interrup.
tion caused by inyentorying and an
nual settlements, and the fact that in
most cases requirements were cover
ed far ahead on the previous extern
siye buying movements. Producers
still are less concerned about secur.
ing additional contracts than H. max.
ing deliveries on old order. anil the
difficulties Of reducing the srcat &c
cumulation of business are intensi
fled by tn transportation BREAKDOWN,
which has been aggravated by storms
in some sections. Freight embargoes
further complicate the situation and
manufacturing operations are serlou.
" hampered, with more blast furnaces
and other plants stopping because Of
lack OF fuel. With outputs aud ship
ments restricted, industrial earnings
have naturally diminished, though The
years results in this respect have new.
or been equalled. Mercantile profits
also reach unparalleled figures and the
generally increased promptness in the
settlement Of financial obligations Is
reflected in market contraction n
commercial failures, preliminary sta.
listScs for 1916 indicating a numerical
decrcase Of over 20 per cent from the
high mortality of the previous year
Retail holiday trade fulfilled the most
optimistic predictions and bank cloar.
lsgs 2t centers outside New York this
week are 2S.5 per cent. larger lLan In
1916, while the gain at all puints for
the past year is approximately $50
per cent 1t is noteworthy, fawever
that commodity prices are reac:Icnery,
tile HIST of 321 whole ale quo.atioLs
regularly compiled by Dun's Review
showing more declines than advances
his week for the frst time in months.
Money Markets IN Comfortable
Position
Comfortable conditions charecteriz-
cd the local money mar let In tho final
week OF the year, Ar. an, ements lor
the record annual disbursements were
effected wflhon. eilhculty ana many
millions more o! old were aided to
the unpreceden ed inflow. Yet. il: spite
Of the TACT that about $675,OoO,o10 has
come Ia from all scurces, the Clear.
ing H6lse institutions hold les cash
than q the close OF 1915 AMI the sur
plus reserve also Is materially Smaller.
though We. above It's lowest lie 81 Lat
est available returns disclose her
loan expansion OF about s130,J00,o0O.
In 1916, but this does not suggest The
wild imitation Of which some people
we apprehensive. Since the maxi
mum point Was reached in November
loans have been curtailed appEeCiably,
and the year ends with the general
situation decidedly more whoit some
rs q result Of the recent drastic spec.
ulatiye liquidation.