The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1904-07-22
HENRY CLEWS & CO.'S LETTER

Henry Clews & Co, in their COM
mercial letter, TAX a very optimistic
view of the commercial and financial
outlook for the country. Their figures,
though, estimating an eleven million
bale crop, to bring to the planters
$400, 000, 900 is on an estimate of
an average of a little less than eight
cents a pound. On account of the
scarcity of labor and the advance in
the price of fertilizers, it is said the
present cotton crop will cost more
than last years. If these facts and
Clews' estimates be correct, We can
not see where the south is going to
make such a great thing out of her
cotton crop.
The presidential campaign, accord
ing to Clews & 20, has less effect
than usual on the business conditions,
because of the changed attitude of the
democratic party On several important
questions. Following are extracts
from their letter on the outlook of
h country from crop conditions n
tine result of the presidential election:
liz ~ " IS " DlS GULL dllo
cotton crops. These are facts of the
greatest Importance. Our corn crop.
if it reaches $500, 000,0 o bushels,
should yield the growers about ST.
600, 00o, 600. to say nothing of it's add
ed value in h shape of pork and beef.
Our cotton crop, if it reaches II, 000,-
600 bales. will yield about $500, 000,-
600 to growers, to say nothing of the
profits to railroads.. exporters and
manufacturers; SO that from these
two crops alone the country's wealth
will be augmented by more than 1900
million dollars. Other crops are doing
fairly well, and there are no import
ant reports of shortage in any direc-
ton. OF course, damage from drouth
now and frost later is DoSsible. even
probable, for cotton nearly always de-
t~eriorateS in August and September.
Yet all the crops have made such
good progress and attained such
strength as to be able to withstand
unfavorable conditions exceptionally
well. The only exception is in wheat;
Kansas. Missouri and Nebraska having
suffered injury by excessive rains esti-
mated at about 81 5000, 00e bushels.
But a 0 O,000,0e crop is expected,
which is only 81, GOO, 900 below last
year, and the price. it should be noted.
is about 30 cents higher than a year
ago.
Good crop prospects are already ex-
erting a stimulating effect upon bust
ness, and distributors in the west and
south are looking forward to a salts
factory fall trade. Having pursued
an exceptionally conservative policy
during the past twelve months, they
enter the season in good financial con-
dition, with no heavy stocks of mer-
chandise carried over.
Tt is perhaps as we'll 70 say there
is no occasion for entertaining the or
binary anxiety concerning the presi-
Dental election; and now that Bryan
ism Is a dead issue, there is less diff
ference between h two great politi-
cal parties than usual. Both candi-
dates are men of unimpeachable char
acter and safe. sane and sound on vital
public questions. The chances favor
a close contest. with Mr.. Roosevelt
the winner; still for once the financial
community can view the possibility OF
a democratic president without a
shudder. In short, the financial sit
uation is likely to be slightly affected
by politics, If at all.