Crawford avalanche. (Grayling, Mich.) 1879-19??, 1899-08-17

T.
Conditions underlying the business sit
uat:on are generally Of favorable char
acter, The two undetermined factors are
crops and money. As to the former, re-
cent reports have been Of q most encour-
aging character, and 90 far az money 10
concerned, bankers and merchants now
seem agreed that at least the present
level OF rates will be maintained for some
time longer; there Is a fair prospect or .
temporary slight advance as soon as the
demands for crop-moving purposes pc
come more urgent. The rise In Interest
rates seems legitimate one. The
growth Of business has necessarily oc-
casicned larger use Of money, and for
the last year there has been gradually
increasing dow into the regular trade
channels. 49,
: Never In the history Of this country has
activity been more universal at this Pc
riod of the year. Production In all lines
Is at high-water mark, and still stocks do
not seem to be accommodating. The con-
sumption Of merchandise continues to
keep pace with the increased supply, for
besides the domestic demand new foreign
markets are opening. In oil departments
recent advances in. prices are maintained.
In values has been recorded. 4. = !
Bank clearings for July indicate that
general business Is active. Returns from
the whole country show tAet tie aggrs;
gate OF payments through the banks was
in excess Of $1,000, 100000, record for
that month which has never before been
equaled. The clearings Of the Chicago.
banks showed gain of over 500, 100000
as compared with the corresponding
month last year. The stock markets have
been less active, and prices as a rule
show some recession from the figures
reached last week. Money continues to
be the principal factor in the situation,
and the fear of an advance in rates has
tended to hold bull speculation in check.
The industrial stocks have lately COM
handed a greater share Of attention. and
In some fair advances have been shown.
Hope Of great corn crop comes nearer
and nearer to realization as the season
progresses. The warm weather Of the
last week was Just what was needed to
make up for the delay ut the. start In
getting the seed in the ground. In places
the heat was excessive, and fear of dam
age on that account was Immediately ex-
pressed in the usual exaggerated form,
uut IL was cledr 10 tuOSe uuNlnB pTuClicdi
experience In raising corn that for every
acre that suffered from the heat fifty
were benefited The course of the mar
ket during the week was reflex of that
opinion. Gradually receding prices
evinced the faith Of the spectators in
the generally beneficial effect Of the
warm weather, q decline of half a cent a
bushel being submitted to in face of an
export demand of unusual dimensions.
A heavy corn crop promises to more than
compensate for q deficiency of winter
wheat, and the failure of the fodder
crops of Europe insures n continuation
throughout the season of the present &C
tivity in the foreign demand.
Spring wheat made rapid progress dur
ing the week, so that South Dakota and
Minnesota are now busy with their in
gathering. The crop is already being
sold for delivery within the next two
weeks. in the Minneapolis market, and
Notwithstanding some drawbacks the
yield promises to be generally satisfac-
tory. The agricultural returns for the
labor Of the growers give every indica-
ton of being, on the whole, fully as re-
munerative as those OF the previous sea-
son. The wheat market was somewhat
irregular, without material alteration in
prices. Europe will again be dependent
on America for so large proportion Of
its supplies that prices much lower than
at present seem improbable.