Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1904-08-16
THE NATIONAL OUTLOOK.

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IN bis weekly letter 70 The Optic,
Henry Clews. the great New York
banker makes much Or the prosperity
which will follow the abundant crops
OF the season and takes d most ros-
cate view OF the money situation ana
The stock market. He says.
Another week has passed without
any very serious damage 10 crops. or
without materially reducing earlier es.
Inmates of the harvest. Wheat mas
risen to an unusual figure, st.07. ow.
Ing 70 the reports 81 injury by rust.
The government report for August /
has been issued. indicating 4 crop 81
Cos 900. 900 bushels OF wheat and q.
564. 0 10000 bushels Of corn. Some de-.
%terioration has taken place In wheat
since the above report, and private
estimates are current as low as $50.
600. 900 bushels. High prices for wheat
seem reasonably certain. since d short
crop and increasing home conaump
lion mcan less surplus for export al
a time when Enrope's necessities are
urgent; the worlds wheat crop being
anywhere from 30 to 100 millions less
than last year. Growers. Therefore,
should receive good prices for their
product In compensation for d short,
age. Cotton we are likely 90 have 10
plenty: and M this years heavy cur.
tailmcnt by the mills Is depicting the
supply Of cotton goods, tho worlds
Visible supply 81 cotton also being
much reduced, there Is every reason to
believe that the planter VIII receive
a fair price for his product. even
though II be below last years fancy
and fictitious figures, August Is nj.
most invariably d month Of declining
conditions In cotton. but allowing for
that fact, the trade estimates OF IL.
0O0, 900 bales on this staple are not
far from government figures. There
is a disposition TO create n scare con.
corning the boil wceyil, also on the
scarcity OF labor; but the former
seems 20 be doing less harm than
last year, and the latter problem Il
one which will probably settle Itself.
A slight rise In the wages OF cotton
.plcke-,. which The planters can easily
afford, Will very likely attract an am.
PIE supply of labor, which has tenn.
porarily gone % the elites. where en-,
.plnymcnt was easter TO obtain The
oats barley hay aud potato crers i'll
promise better Than i Year ago, aud.
allowing for ordinary aetbacks the
outlook remains for 4 better harvest
than in 1908 Tho corn crops II SIN
tha subject Or most concern, Tor while
.the condition Ii reported ali 81. ID
tcariy = points better than last year.
the crop f late anf opposed ~ tariy
frost Il should W borne u mind,
however, thai this Il The period of
VI tfene sen5tise nesa u v ather
conditions and, aa the crops have
reached b stage II maturity where
ans damage Il likely 10 nc beyond re-
palr. TIE markets viii Nv particularly
esposed 70 cfop scates and cxaggeras
.tipns The whole country III most ans
sions for a good harvest On which 10
base q sound business recovery. and
such q contingency seems almost
within grasp, hence much ~ the hope
lfulness which now prevails and II The
next -four weeks pass without disaster
all reasonable hopes are likely q be
realized.
The stock market continues 10 show
Z g9oa praeftore tfiefy leeanse os
o. :