Pine Bluff daily graphic., 1895-09-03
ROSY IS THE OUTLOOK
EVERY INDICATION OF BIG BUSINESS
 IN THE FUTURE.
Crop Reports Most Flattering-Wa Street Bulls Expect an Old Fashioned Cam paign, and Their Hope Is High-what the Veterans Say.

tue Veterans Say.
 Of all the reports on the crop situa- tion issued during the year by the gen eral government or the various states those for August and September are considered the most momentous. The statements Of the agricultural bureau at Washington are given out on the 10th of each month The figures just furnished fully bear out the f1attering accounts re- ceived by telegraph and mail from re- sponsible sources as well as the hopeful expressions of prominent railway off, cials who have returned from tours of inspection over various big systems. The increase i'll money value of this year s crops will be enormous, and upon this one fact more than anything else is predicated the absorption of securities and the great strength of the markets. AS the farmer will receive fair com pensation for his labor he will be in position to spend more for the neces- saries and luxuries of life This will be good for the country storekeeper, which will be a starting point for improve ment that will be felt in every ramifica- tion of trade and finance Success of the agricultural class has been the underly- ing cause for prosperity at all stages, aud the railroads no less than the mer- chant and laborer must benefit greatly during the next year or IS months if the August crop estimates are not seriously out down by future damage by the ele- ments. The corn crop happens to be the most important of all this year, as bounteous yield means plentiful sup ply of meats, which enter so largely into our export trade, and which will sooner or later result i'll the return of some of the gold forwarded to Europe in the past year.
 AS has been pointed out more than once, comparatively few brokers and speculators really know what genuine bull campaign is like, and they are fool ishly enough gauging their operations now by the sporadic rallies that have occurred off and on during the past few years. They profess to believe that the enhancement in values since the ad- journment of congress in March last has more than discounted the enormous ad- dition to the eountry9s wealth by the phenomenal harvest, now in progress, and they persist in fighting the rise. The older heads know better and are in- clined to give the bears all the rope they want, with the firm conviction that the more leeway the latter are given the quicker will they hang themselves. Probably the best criterion of the situ- ation is the fact that, while the profes- sional element keeps on selling short, 1 those closely identified with the rail roads are buying securities and that powerful bankers and their friends are backing the market.
 All those who make any pretext of keeping up with the times know that the old substantial dividend payers, like Lake Shore, Northwest and St. Paul preferred, New York and New Haven, Morris and Essex, Lackawanna and Del aware and Hudson, long since passed from brokers offices into the tin boxes of investors, and that there is no longer any field for speculation ill that class. They also see that the same thing is now going on ill stocks which, while paying dividends for number of years, are selling at comparatively low prices, because they are not yet well known to investors. There is.every reason to be- lieve, therefore, that the granger stocks, Chicago and Eastern Illinois preferred, Lake Erie and Western preferred, Vest ern Union and Manhattan will become scarce, and that all properties having the advantage of good management and geographical position will, in time, move to higher leval Investors who are looking for income and speculators who prefer to trade in stocks the divi- dends on which pay the cost of carrying or more are devoting their attention to such shares as those just named.
 At the same time low priced stocks are growing more and more in favor, and Missouri Pacific, Texas Pacific, Wa bash, Canada Southern, Pittsburg and Western preferred. Omaha, Wheeling and Lake Erie, Hooking Valley and Southern Railway are destined to come to the front before 8 great while, pro yided, of course, nothing untoward hap
 
 pens to the growing crops. On the other hand, Erie is gradually settling down to where it belongs, in view of the prob able levying of a $12 assessment, with out anything in the way of new securi- ties to show for it, and Northern Pacif- ic preferred seems destined to work down to where other bankrupt proper ties have gone, since the stockholders in this case also are confronted with the probability amounting almost to cer- tainty of $15 cash assessment. The chances here, too, are that nothing will be given to represent this large pay ment, and when the plan of reorgani- zation is made public those who look for any other result will be disappoint- ed. Nothing definite is known concern ing Reading matters, but the fact that the coal trade is acknowledged to be in poor shape and that the companies will lose good part of the years profits un- less they soon reach an understanding t,1 k, Al.