Show i Business Review of the Closing Year I i 1 I New York Turk Dec 28 28 sta statistical taI ta- ta I review of ot tIme the closing year car which will be Issued tomorrow will say I S Nineteen hundred and six was a n. very remarkable yearS year ear And yet ct this characterization charac charac- I appears Incomplete In view of time the fact that old records were retired I and new now ones sot up In tho tIme disproving i of at old proverbs and the predictions that lint lintS S 1 1503 was so favorable that better re rei results reS re- re S i suits were hardly hard to be bo expected the time following year Not the tho least remarkable remarkable remark remark- I able ablo feature too was tho the fact that the I apparent drawbacks drawbacks and and nd there were vere a n number number did did not retard ret the tho onward I movement and the course of events I commercial Industrial and financial viewed from tho the vantage anta e ground of achieved results was a grand brand triumphant march of 1 progress ro ress Concise Concisely stated 1906 saw very favor favor- crop yields a record output of or cerI cereals I eals close to highest yields and record values of other farm farni products unprecedented c dented activity In lim all nil kinds s of mining f except coal enormous outputs of or precious pvc pre cious clous metals land speculation assumed 1 enormous proportions building activity surpassing the wonderful record of ot 1 I. I I unprecedented totals of foreign trado trade nn an unparalleled immigration surpassIng surpassing surpass surpass- ing log totals of clearings and railway earnings tl employment active and labor scarce as never before a record volume of St r time the circulating medium money medium proving ro altogether ether Inadequate for or business bus busi ness hess purposes purr and finally lna and what Is perhaps the most remarkable development development develop develop- ment meat of all the reaching In a time line of profound worlds world's peace of a u war time level of prices of commodities without the time sll slightest t apparent effect upon demand de de- mand land which throughout the y year nr passed ed hoU hotly upon supply and caused Used irom flom the time be beginning of or the time year to Its close general complaints of the lie backward backward back back- war ward ell deliveries of goods After even en a cursory review of or the tIme results Ind indeed ed ono one Is with the lie Inadequacy of or adjectives to give full expression to the wonderful development of tho the year now drawing to a n close S. S f. f Few ew 1 or Of thu tile drawbacks Interruptions und and what in Ill somo omo years eal would have ha proved to havo been absolute checks to pro- pro fr ess there ver several well descry In ing of mention Mild winter weather has not usually b been bOen en associated In tho ho ast 1 with present or future good trade I or crops anu arru y yet rt t the country had the I mildest winter In years cars Later on In Inthe inthe the year the greatest city on the western west west- ern rn rn coast was leveled by earthquake and arid fire Ire a shock to financial circles which might have been fatal to an aim ordinary or or- year Ie Legislation of a 0 somewhat radical character affecting railroads und and lan large e corporations with numerous I prosecutions of or companies and I minis was vas a a. marked feature resulting I from froni the lie previous years year's moral and uplift In Iii state and nation without any auy apparently other than timan beneficial effects to the country at I lorge c. c TI Tight ht money at nt home and abroad put a strain upon general business which resulted In strikingly little fric fric- tion jud judging from Irom failure returns the noticeable effect being a a. 1 feeling of if conservatism which proved to be beneficial Con Congressional and und state I Yield unit and Value J Change Yields from froni Pa last t records Year bu Jl I S 8 ear Wj wheat bushels IH I 15 1531 1001 SprIng wheat bushels 0 S Total wheat I f S. S 1901 Oats bush bushels ls w 9 I I 1 7 1 1902 Urley bushels In 31 1901 19 Rye bushels 1 I 1 2 lOt L Buckwheat bushels I 0 01 1 1560 12 Total roi sic cereals h 1 1 7 1 7 i. i l Y Ih l lon bushels 1 3 D. I D 11 40 OO lWI Tobacco pounds 5 I s 8 r 1902 nie bushels 17 7 I S lWI Cotton Colon bales I lu Sugar ugar ton tone 1 I 3 Wool clip cip pounds 1 I 1 lf I Hops pounds I 9 51 1 1903 19 3 Change 1 Values from Past Curn 70 19 I 90 records s Year 1903 I D r lo Oats 9 37 I 10 5 1903 1902 Harle Barley 3 it 9 I 33 g. 1 1 1901 1 Rye Ro I 17 1591 I B I I 1 2 1 11 l Total six I I 4 1 ed I 1 1903 1903 Potatoes l D 2 19 Bay I 14 11 19 1903 72 1 61 3 Tobacco Ii I 10 J I 31 11 1901 Cotton U Q 7 1901 Wool 10 U I D 1 1903 10 aiu Value oal far pro products S I-S I S 1905 i. i A i 1 I Finance mind nud Change Chango from Irom Past Dank Batik s Iss l I 1905 93 11 records Year Imports merchandise cst J i 10 1 l merchandise esi 30 r J 1 loUt J trade est cst cst sOO I ii 1 1905 93 I Railway alway earnings 10 months 1 1903 19 Circulation Dec I 1 I I 13 3 1903 Circulation per capita I s 8 1903 1 Building expenditure I 7 6 1905 New York stock sales shares I 15 cw York bond sales value D 19 34 31 10 o nW w I 1901 I Business failures number 9 I I l 1901 1 I lailure liabilities O D f 1 3 PI Pig iron Iron output r I u D 1 1593 ore Iron ore rol-ore shipments 00 I 11 9 Z 2 1 Steel rail leel production 32 x I 1 1905 cool coal mine product m D io 10 1 is Shoe shipments o 9 r S W HI 1905 Labor strikers 0 i i 1 I 1 z 0 I Immigration tol J I 1 19 Tomato pack cases I 6 16 3 18 I 1 1903 J 1 lions 1 10 1 I had little effect the tl general conclusion con coti- elusIon being that lint the time people were con I too Ius to talk politics Transportation congestion of or the acutest kind result result- I j lug Ing In fit n lo loss s of or trade and somo sonic reHul- reHul actual suffering where whore fuel supplies were concerned con con- perhaps arrested but certainly did not check progress progress- progress Strikes were I I numerous but except In the tho coal mold mold- I 16 5 arid amid ald printing trades not of lon long bug duration owing to a spirit of compromise compro compro- 1 mIst mise and mid yielding on aim the thC part of or the lie employers who realized that tho the cost crist u as r as the u 1 country's standard of living j justified larger compensations tons lnE 1 Some occurrences which made the time nr nn an especially notable one the final I effects of or which have not yet been I worked out were time the Immense I t. t lation in an aim advance of land values which with wih the bul building activity in I some mime sections was claimed to be dangerous dan dait- dan I I to continued prosperity High I 1 f money gave a n check to this as It also I ld to the time enormous normous volume of or I J. J lation In mining shares share which diverted divert divert- I I ed cd attention from froni other markets notably i ly h grain and II stocks tocks and to a certain extent from cotton coton though the year showed ho cl great leut activity thru throughout hout latel the tho Tho flie Iho frequency with which K Lr are re met me with wih In iii II tho the summary table given I elsewhere will wIl at once Olce strike time thu tho I reader of this timis article The TILe combined production of or mill all cereals was time the largest over I known o n chiefly because of oC the time Immense Im Im- mense c corn rn yield The flu values of or all cereals eld mind and of all al farm unit products tire arc al the greatest t ever reported In tho the financial records the time frequency of Increases approximately 10 to I 12 II per r cr lt 1 Is probably a n real guide to the tIme k Increase e of general enc ral business over H 1003 1905 In Iii II the statistics of Industrial output especially of oC the Iron trade the tho gains are not lot far below the time above percent percent- percentage a ages age eH Another guide to the tiit character of the lie years year's business is 18 to be bc had In the gulp gain In II stock sales and the tho loss 1091 hi lu I bond sales eales tales Indicating that with wih prosperous pros pro J roul trade a n greater disposition to tc I I be a partner rather than a n creditor wax wa u I manifested Finally the time fact tact that the th I decreases shown In the time second table art aro m largely confined conned to failures and ald failure i i liabilities Is In a n high degree indicative e of f time the fact that the vastly vasty enlarged outputs out out- puts the tho movement of products and tim the C volume of sales In 1903 13 were conducted d with wih w iou less friction than Jj In thus thul conI coni con con- i I 1 a n tribute to the tIme essential I soundness of the tho years year's lars business Tue The Year In 10 Detail Mild Ild winters havo o been proverbially unfavorable to crops and trade yet ct et right at Its Is c beginning the time year ear suffered this ale alleged ed drawback with wih little effect Lack of oC snow covering covering for tor wheat wheat and ant I autumn mildness In January led lcd to lo C Cears fears ears of or crop damage while con congesting stocks of winter goods Heavy apparel suffered In demand coal was Inactive and rubber footwear ne neglected bul but good effects of or the time mild mid season out outweighed weighed the tho bad Building operations continued on an unprecedented scale during an ordinarily closed cosed season aimi and railway operations experienced little Interference Manufacturing was active act act- ive lye and stock speculation made new nem neW high price levels leveIs le In February retail trade and collections were Interfered with wih early arl b by mild weather lumbering was restricted cotton coton holding at tim th the south was n an aim additional drawback coal was weak high summer prices for ice were Indicated and tho the egg market markel collapsed under weight of fresh sup sup- plies ples Sacrifice sales of or winter whiter clothIng cloth cloth- ing un mind and an earlier earler than usual opening of or spring trade were features The first hurtful wIn winter tel storm In March dama damaged c southern souther fruits and ve vegetables but bul t heavy snows and rains gave ra e ample moisture to winter wheat as a the time grow growing rowIn row row- In ing season b began Jan A barge spring trade 3 was the time country over heavy y sales o ot of r fertilizers Indicated an nit Increased cotton cottom coton area and Industry was active with will willI r wa wage e advances ad April op opened ned I with A coal strike in involving oO men time tho anthracite western bituminous fields shutting down but first crop re reports reports re- re ports sho showed ec little damage e to winter r wheat what and the time low death rate ratE throughout through through- out the country disproved the time green greem m Christmas and fat churchyard rd proverb Corn and cotton coton planting started starter l late bate te hut but made up tip lost time Earthquake nim 1 fire ruined San Francisco Francisco Francisco-Apri April 21 18 21 18 destroyed 3 10 in property ani and I caused causel a break In stock prices Ma May Maysaw 11 saw the time close of the coal coal strike th the C ending of a wheat deal al at Chicago aft after after aCer aC- aC er the time highest prices of or the time year were touched find heavy liquidation In stocks while tire fire Insurance troubles pla plagued ud San Pan Francisco o. o and cold weather wath- wath er fr Injured fruits and vegetables caus- caus Ine much of cotton coton Trade retail and jobbing was act active plenty of or moisture helped wheat wheal San Sn Francisco's banks opened ned May tny 23 after over a months month's shut down purchases of supplies sup sup- supplies plies pie for fOl that lint city cly benefited trade In other places rind and steel rails rais were freely bought for li delivery delvery Corn planting was delayed oats were hurt In th the ho hoest west est and it I was WS too ton cool and dr dry for cotton Tn In June wholesale tr dC was seasonably quiet business for or tall fall fal was WiS good building showed record I activity thou though h lumber weakened for or a while end and wages war of 01 New England cotton mill mi coton-mi hands advanced Early crop reports were poor but hut improved improve later Intel Cotton Colon showed an aim Increased acreage and coot condition condition- Warnings s came of or tight mone money In iii th time the second cond half hal of or the year ear and somo soro good authorities wore wre pessimistic pessi pessI- as to its Is effect on trade Record Half July statistics showed a a. record half haI year ear In domestic business and an un unprecedented unprecedented un un- un- un fiscal years year's foreign trade record clearings s for or six months few and failures allures wheat and prices small smal declined liabilities on good Cotton Coton crop prospects stocks were liquidated trade I and Industry continued active Ild mid summer Hummer shut-downs shut wore fewer and I shorter than usual usual with fall fail orders good In II Au August free Cree wih marketing of win winter tel wheat brought the time lowest prices In four years ears but iron and steel and cotton coton goods were active and advancing while raw rams cotton coton declined Rains helped corn amid nd hurt wheat in shock but the latter latr rallied on lighter movement and poor floor Russian reports September more snap to trade very er high money roncy rates rapid advances In lii com corn modUles active trade arid and Industry a record cord corn corl crop gathered free tree from damage with wih cotton coton goods advancing At the time end a t severe IH gulf storm de the- property on that coast und mind hurt cotton collun colun Inland October saw an Immense advance In cotton prices HI HO points on suds pots and 11 points on futures futures In In ten days copper reached tho tIme highest price In iii II twenty six years cool weather r helped ratIo and a record months month's business was as done Car con congestion be be- lone lc- lc came acute neute and reports came camo of or darn dam age to harvested grain and growing cotton time Cotton the latter the later by frost trost Storms at harvest hurt tobacco south und and west Wet mind hurt cotton coton badly in the tw hit south At At- lantic 61 it os S. S November saw only a a. HJ slight ht lull lul In trade rude before election day Iron and steel lay continued to lo ant advance tlc de tie- spite record production and large barge ar c Im Imports him Im- le- le ports mi and amid car congestion hampered CS' CS all al lines but hut business was active and a large e utica area went Into winter wheat a Preparations for a r record holiday trade were wen made at nt wholesale corl later justified by an early and amid heavy demand In De De- cember car shortages es affected trado and caused suffering In nr thu northwest Tho Increased wheat area area entered the lie winter In a n condition equal to IV 1905 An unprecedented trade In holiday goods at record prices closed the year car Looking Forward I Prosperity beyond precedent dent In iii 1 und and the thc high standards thereby standart es us- us ru makes kes prediction as to 1 1007 1901 peculiarly difficult It I may bo bu said however that the time outlook for next year Is favorable very Probably never before before be be- fore was was the volume of oC future tr ne business I booked go so large From three to nine mon months months' orders ahead arc are reported by manufacturers and wholesalers and anti jobbers have havo be been n active as a never be be- be I fore on spring business Perhaps tho tIme heaviest future business done In him any l lino- lino ine has las been that booked In lit Iron and steel In all ni I Its forms And what Is ha true tru of this generally regarded barometer of or trade Is also alMo largely tho time case In Jim cotton goods of nil all al kinds In addition additon woolen coton ere dress 9 |