The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-02-20
CONDITIONS IN THE EAST.
COL. PRANK uffhEsox RETURNS
FROM ~ EXTENDED TRIP.
Believes Prosperity of the East II to
n Great Degree Conferred In the
Wheat md stock Raising BeIt of
the Valley of the Mississippi


last winter, and no man IN tha historical
body had more friends than he. The
colonel. as his friends term him. has Jus:
returned from trip ~ four months dura-
ton to the principal cities Of the East. in
Guiding z stay % several weeks In the
farming sections OF the VI ss!sslppi valley.
He IS great observer ~ men ard OF con-
ditlons, and yesterday a. the Hotel North
ern he gave q Post-Inte5ligeEcsr reporter
some Of his Views on business and political
affairs IN the East as he saw them
Tho prosperity that IS enjoyed by the
people Of the East Is 10 a great degree
conferred tn the wheat and stock raising
belt OF the Mississippi valley" he said.
ION the Atlantic seaboard the banks have
q plethora 0f money. but the nanufactur-
ing industries are net az prosperous As
they might be and wages are consequently
los. Aucn American gold ~ being Invested
In Europe Loans az over or { per cent.
are not 10 be had The middle West is in
q wonderfully ilourisbing condition. owing
10 the great wheat crop Of last year. and
everywhere the state OF Washington IS
famous as the most important state on the
Pacific coast and the center OF the next
great era OF commercial ard Industrial de-
veiopmsnt
Il was impressed in travelling through
the grain and stock-grCwing belt OF the
Mississippi valley. az the inviting market
there existing for the lumber and shiugie
mills OF Washington. For ten years past
the Farmers CT that section have been debt
ridden. Their lands h - been lncambered
with mortgage. they Fsve owed money at
the banks, ard they have been behind
with their merchants Wheat IN Kansas
has sold as low as &c cents per Aushel In
this period. This condition Of affairs has
existed ia kaueas. Nebraska and Eastern
Colorado.
The big wheat crop OF last year has
changed all this At threshlng time the
price ranged from . to S9 cents per bushel.
The Yield averaged everywhere twenty
bushels per acre. and often IL was forty
bushels.
''As soon as tho farmers Of this section
found that they would have money after
paying all their debts they instantly began
Improvements that called fer Washington
lumber aud shingles. You viii remember
that las; fall the price Of Washington cedar
shingles jumped from % cents To 81 &.
The farmers ordered shingles and repaired
their stock sheds corn cribs and dwellings
The bank began - receive money in pay
ment - leans ard mortgages In one bank
IN Salina Kan. she discounts decreased
tea0oo from August "a November !, while
at the same time the deposits increased
&iee CO.. There was so much money IN the
country that the banks could not place Il
regions OF Pennsylvania. where IL was put
oat al 8 per cent one large mercantile
company's daily deposits In one OF the
smeller cities OF ka1,as was actually
81 coo.
This viii give you some Idea OF what tho
splendid wheat crop did Tor the farmers
of thar section. The present growing crop
IN the winter wheat bel, Is the finest that
has aver come 0it az the ground The Son
IS soaked with water Mere rain has fallen
this winter than 81 any previous winter for
Hfteen years. The growing crop mats the
ground aund unless Il IS damaged by hail
50 viii be the largest in the history OF hat
section.
The effect Of these conditions VIII be
marked on the demand FOR WASHINGTON
cedar shingles and nr lumber. I believe
that the lumber milts ~ this STATE viii bc
kept running night ard dag 20 supply she
demand from this section. Cedar sIlls for
repairing the stock pens the harms and
grAnaries - tie wheat and stock growing
sections cf the Nissi~sippI valiev VIII hc
IN great demand IL VII absorb kind az
material that Is uow harmed or thrown
away-thc tree tops. AL o. lhis can ord Il
profitable narkc; in tfe district 90 Whlch
speak. where Il Mil De- invaluable The
white pine heretofore used ln .hst section
H. no; suited 20 this use. g is not durable
like cedar
ION the Atlantis scabeard found that
conditions are such as 10 make every man
who Hives In me state Of Washluesau rIad
a. H. An index Of the situation There g
found To the fact that }aDorers are working
on tho municipal Improvements 81 Norris
town. IA nj i9's cents per hour Pro-
visions are dear and the cust ~ living -
high. In New York there Gs erea: con-
eestion 81 money ire backs bavo The
fines, line of deposits known Tor years ~
Il Impossible ~ aud use Tor tsls money mt
-
son American gold il bcag sont abraa1 sor
Investment 0ge hslker ir <aw YorA r1i4
mo that at least $ltV tsoes4 iu American
money had been sent abroad s1r intrst-
ment \ healthy Indication IN th~ New
York financial market IS found lr taa Ea-t
thai American securities of cvers nd are
bcfHs sent hack from lsf-cDr n Frest c1a~-
tit.es - pay fer the wheat ard -.ttau SCAT
4 sclnx abroad ~ SOME uat FAR = -.art
day the Interest that Is n-.rr raid oo thtsn
securities wiN he kept 80 th.z coaas-.
The people - 'ne Fast are all talk.nr
Of Washinrion ana seattle. Every fnteU-
gent man sou meet IS fhorouEhfe Informed
"a - TIE diversified and splendid resourr,s
~ this state Tasy know trat We have tna
fipest wheat growtnx 'aud in tAe word.
that cUF fruit s. uu surpassed ana .Nat ,stlr
forests oc fr cedar and he.ufae& are tnu
fnest eu tAo cortrert. Wtsh.rz.r~ Pc
take about more thHu a~y othrr state ~.
the Uato- Tee Vrtl- posted nfl.'.ess ana
financial men Auew thas ~ thts state wf.
ts cenEerct f1r next great ir5a.t~.at a-f
co1ueFctat development 5n tAa -euatst
that fhe cctn 7frr-e ~ fAa fsa.. 5t .-st.s "a
rfSal tA8t ~ thc Atlanf.r a.1 tNs+ ~u
Puget sound "a 3 "a lut.t sa-,e ~ .rr ls~--
est cities * A1rrrt~a- y ef-uast. sree -
TIE Eas. k1oa faa- tHe gr#aace ~ Wo-e-
.ng on eows t'r. aEH RS t5tlss ~ sac t..test
by rs.ir, a. lines taat are rra.sa ss n. tsa
irkis.atare art f'4t arf H-{c--hrd 81 -ee