The Cairo bulletin., 1904-10-17
IMPROVEMENT ALL f.
ALONG THE LINE
HENRY cLEWS FINDS GENERAL
CONDITIONS FAVORABLE -
FAVORABLE FOREIGN TRADE
INCREASE IN BANK CLEAR.
INGs, MONEY SITUATION SAT-.
lSFAcToRY.
Special to The Bulletin.

an active and at times buoyan. stoc
market. Occasionally prices weaken
ed under fresh realizing, but goo
buying generally developed on the dc
cllnes and the upward movement. wa
easily renewed owing to the sprea
OF confidence induced by Favorable
outside circumstances.
Crop Reports Give Comfort.
The recent government crop report.
which forecasted larger crops of corn
wheat and cotton than had been ex
peeted, were the principal sources 81
increased hopefulness. The haryes
Is now practically beyond danger, and
we are promised 2,4G0,00oOOO bush
els of corn. 550000,0 900 bushels G,
wheat and probably 100000 bales
OF cotton. These figues are all be.
yond what the crop killers would
nave had us believe a few weeks ago.
and they have thrown the pessimists
INTO dismay. Such results are not on
~ beneficial to the stock market, but
heipful to the country az large.
There is now sufficient demand in
sight 10 all our crops at good prices
which means ample profit for the
to The consumer. This in turn means
that cur merchants will do a larger
trade and that factory wheels will
turn more speedily in consequence.
while the railroads will have not only
more grain to carry, but more mer.
chandise, also, in consequence of bust
revival Good harvests have always
been at the bottom of good times, and
this year is not likely to prove any
exception.
Railroad managers have been very
hopeful for some weeks past and cur
rent reports of earnings bear out
their expectations. In the fourth
week OF September 80 roads report.
ed gains OF noarly per cent over last
year. and in the third week OF Seq
TENDER 40 roads show gain of over
8 per cent, and the prospects are that
October returns will be equally good.
Bank clearnos' Remarkable Increase.
Bank clearings show remarkable
increase, the gain last week at the |
leading cities being over 30 per cent |
A considerable share of this was due |
% increased activity on the New |
York stock exchange. but the fact
hat Chicago showed a gain of ii per |
cent, Philadelphia 25 per cent and
New Orleans 10 per cent, while other /
'itles also showed liberal increases. is
roof OF widespread enlargement of
BUSINESS activity. Improvement in
he iron trade progresses and rail-
Dads are placing orders for rails. en-.
lines and cars with more freedom
which is significant.
Favorable Foreign Trade.
Another favorable factor is the turn
n our foreign trade. During Septem.
er our exports showed an increase of
early Sl3,O00,000. 1t is true that had
not been for an increase of $4,000
90 in cotton shipments there would
ave been a shrinkage in exports be-
ause of the falling off in breadstuffs {
rom well understood causes But il ;
satisfaction to know that such de- !
eicncies have been made good. We |
re also shipping unusual quantities '
copper. and our exports of manu-.
Ictured articles are increasing. prov
g our capacity to maintain our for
gn trade by selling other products
II export when some fail.
Money Situation Satisfactory.
In the monetary situation there IS
othing perplexing to be faced. The
-op movement is not yet at its max. I
mum, but a month hence funds
lould begin to return to this center.
ld the surplus reserve. which Is
UGH larger Than in previous years.
ems ample to carry us through .lm.
the influx movement begins. The
creased frmness of money in Eu-
pc naturally attracts some attention l
In event of strain there and ease
re an outflow of gold might be ex.
cited. Even this does not cause anv
mediate concern. for very soon the
pply OF produce bills will increase o
ID we will have. besides, such an h
nple supply of gold in this country :.
at we can easily send a portion to G
iere 1t will do more good for mutual q
nefit. Europe is more directly at .
led by the Russo-Japsnese war d
an the United States. though indi- e
ctly We must share the waste Of en- !
sy and capital which that 1epIor. n
lie struggle involves. Il
RUsso-Japsnese War.
L is ea-imated that IL the war lasfs Il
o years IL will cost Russia 81 500 re
1000 and Japan sl,500. 900 900. and !.
AZ the two powers viii have to Dor. :.
v. combined. considerably more u
IN s500,000000 next year. With :
n demands as these in prospect
On che worlds spare capital il is n
y to see that European bankers =
10 must furnish the sinews Of war I
" the situation with more conserv n
sm than DO our own financiers who
somewhat removed from the in Il.
ances Of such waste. Nevertheless q