Pine Bluff daily graphic., 1903-01-01
every one whoI actually quit work.

Fvcry Que WnOy actudHy qui'
Speculation, lit is true, felt the
check imposed UPON it by conservatism
BY, short crops in passing years; and
last, hr lot least, by higher rates
for :anlCy; but despite the fact that
s!afk market quotations were only
about one-half those of 1901, bank
clearings-thOse usually rel1able
guides Of business-showed agS'a
gate, PRACTICALLY equa! TO shN Ill her
u u.'.eardof totals Of 1901. All this
was accomplished with minimum ct
f,js tion, as reflected in the form IF
b. ir ess embarrassments.
No zone Crop" Country.
ut is commentary on the essen
tiaI soundness OF the great basic cou
d.. rs Of general trade and specula
t:.'r- that. with the. exception OF Few
p Wrl: conceived OF lady man',,e.1
ind vial combinatiols, the genps';s;
: !t:::ness comtnunity rassed tsros'sss:
the various ordeals with exceptional
freedom from complications. The
truth Of the saying that this is no long
er "one-crop" country is in truth
amply demonstrated, not only as re.
CARDS the mere fact of reduced agricul
tural yields. but also as respects ele-
ments, such as the numerous strikes
untoward weather conditions and other
unsettled features coming into ey''
dence during the year.
Wheat Crop Above Average.
The wheat yield as a whole was above
the average (675,0o0. .OoO), favorable
in the Northwest making
up for the shortage in such states asES
Kansas. which had only half a crop
Cotton, which had brilliant prospects
early, suffered phenominal reductior
in condition, particularly in Texa&
and Alabama, but after full allowances
for bias in estimating the best opin.
ion now favors Q yield, aided rs It
has been by hne picking weather and
the lateness Of killing frosts, in tAs
of 1850, 900 bales, edus
to the largest hitherto produced.
""The wool clip showed a gain ovel
that Of last year Of s per cent, with
the eight progressive increment since
1893.
Feed Crop increased.
"The oat crop was the largest ever
LANSING
gathered, and the same was true Of
corn. And the other feed crops were
liberal, and the total yield OF the six
leading crops-wheat, corn, oats, bar
ley, rye and buckwheat-was fully
/ 100000 bushels larger than in 1901,
and the greatest yield in bulk in the
country's history
Consumption Led Demand.
Con umpticn was closely upon the
dcI,A. :; in 1907, and some lines. as fnr
instaA,:a iror and steel. the latter Fed
the year The highest
7 ,.:~ss of the decade were struck oy
ca,,le, ogs and sheep and their var
ieus tro1ucts. Anthracite coal pro-
duction will foot up little more than
3i.ruC 100 tons, against 53,000,00O tons
in 1901, but this was eked out by a
larger . oduction of scott coal (15 per
ceut. advance on 1901) and liberal II,
ports thereof. Coke production wss
also 1T Il; minimum.
Iron Ore Shipments.
":.-ale navigation was fully month
longer this year than last, and ore
shipments fy water were 27,O39,09O
tons. or 10 rer cent, more than in 1901.
Fig i:cn production. though affected
by the ...Ae! shortage, will foot little
short Of ,9 100000 tons, while imports
of l.,eign 100000 tons in various
ferns, will swell consumption to 49,
COO, ,o0a tons.
1903 Already Secure. 81
Confidence. based upon knowledse
of severe tests successfully withstood
of large crops garnered and yet to os
moved, Of glowing winter wheat con
dition on an unprecedented area
and of orders for 1903 booked Y
seven months ahead in many lfneI
is the prominent feature OF t4
outlook as to the future. The fri
half Of 1908. in fact. seems to be r
garded as already secure, while re-
possibility beyond that must rest upo
the next years crops and business d