Vicksburg weekly herald. (Vicksburg, Miss.) 1868-1883, 1870-06-11
WEEKLY COMMERCIAL AND
FINANCIAL REVIEW.
OFFICE or TIE yiekssrSo HERALD,
80. "a VEmn


June ~, ls1U.
Business is merely nominal. The
sales are hardly more than sufi-
cient to answer personal necessi-
ties unless the extra inducement of
''cssh prices" Is held out.
The cotton crop Is presenting a
fair prospect but the continued
rains and cool weather are likely
to affect 1t unfayorably. The es-
innate of 100000 bales for the
presentcrOp which some respectable
Journals have credited is an excess
sivcly high estimate. This estimate
Is made upon the hypothesis that
the present will be fully as fGvora-
bic Acrop year d wa last year aud
that the Increase in acreage Is from
twenty to THIRTY three per centum
over last year. These are wild cal
| eulatiOns. Last season was more
than an average one. We had ia
voring showers, benifcent suns,
no worms, aud little or nc material
drawbacks. II is unfair and un-
wise to expect each succeeding sea-
son TO be as advantageous. We
feel justified in saying the season
was ten per cent. above the aver
aga and that 100000 bales are due
10 that cause alone. Estimating
the crop at 3,200,0O0 bales upon
the same basis with an average
season Il would be 2,SS0,OO0 bales,
} There is, doubtless, an increase
! In the acreage for 1870. Twenty
Ave per centum will cover that
increase and the increased produc'
tive capacity Of lands by improved
labor, agricultural improvements
and manures. On an average basis
Of 2,SSO,O00 bales for the crop OIL
1889 we have, by adding twenty
Ave per centum, 100000 bales
And we think this q very liberia
estimate.
When Il IL considered that cottoT
must take the risk OF drought, ex.
eessive wet, blight. worms, &C., 81
estimate Of $4,000 bales seemI
nearer 0 fair one.
We we're about to present q banh
report, but II is the same old story
Perhaps we are too small and In
significant q town to make muct
; show In financial matters. OuI
money market Is always stringent
The business thereof is entirely
confined to q few principal depOsi,
tore, who are occasionally allowed
to overdraw In the way Of dis
counted loans or something Of thai
sort. We have no doubt our bank
accommodate as far Is they arr
able, and lack Of capital necessarily
o~iFCumscribes their business. But
the business interests Of the city
and county and surrounding coun'
try require and demand more ex'
tended money facilities. From
whence the facilities are to b,
derived otherwise than from thu
ordinary slow growth Of our com
merCiRl interests, we do not know
But our pressing financial needs arr
! obvious. II is only in occasional
, instances that loans can be obtained
IN The market 81 even two, thret
. and 90 high Is i've per cent 1
month, for short time. A loan Of
real estate for 9 year or Longer
although Tie property may be IN
. ~incumberod, and valued ct twent,
times the amount Of the loan, cal
: very rarely DO obtained al two en-
TIRES times the usual rate. We IN
Ute capital here. Ne believe tina
our people today can offer per
: tseslY safe security for IS invest
q meal Our great oryingWanti s 70
n capital % aid the execution 0
{ sp1emea FOR tie development 0
!. public and private interests. w
= believe if proper ebrls were used
eapisal could b drawn here. HavI