The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-08-22
BUSINESS NEVER
WAS MORE ACTIVE
Note ofWarning is Sounded by
Conservatives
CANNOT CONTINUE ALWAYS
Commercial National Banks Annual
Report Says Cotton Yield VIII Ex-
coed Last Years BY
Fair Margin.
CANNOT CONTINUE ALWAYS

Chicago, August 21.-rhe annual crop
and business report of the Commercial
National bank of this city will be issued
tomorrow. The report covers the Mis-
sissppi valley and a few Of the more M
nortant states of the Pacific coast
"The wheat crop of 1906" the report
says, will be among the largest ard bess
ever produced In yield not only will 1t
be gre II, but the weight and quality VIII
be far beyond ordinary. In these re-
speets it may be considered nearly per
feet. The period of uncertainty is clos
ing rapidly, and the crop may now be
called PRACTICALLY out of danger'
zine yield of soft winter wheat is large,
quality the finest and movement free. IN
aslnrt ii as this movement has begun early
ard all grains are now nearly, or quite
on an export basis with the tendency OF
prices dewnward), a. large export busi-
ness may be expected.
Corn Very Promising.
I'm what may be termed the northern
zone of the corn belt, embracing the
northern part of Indiana and Illinois. all
of Iowa and Nebraska, northern Mis-
souri, and portions of Kansas, the corn
crop is large and unusually promising eX-
eept in southern Iowa, where the conol-
ton is spotted and rain needed. In the
southern zone of the same belt embracing
southern and central Indiana and Illinois,
narts of Missouri and Kansas. the crop
has been affected by dry weather and Is
backward; the prospect is quite discour-
aging unless rains come shortly followed
bv continued favorable conditions, and
a late fall We estimate the total corn
cron to be about to per cent larger
than last year.
ION the whole, the oats crop will aver
age fair to good, and the aggregate yleld
will be about per cent less than last
year.
.eThe condition of barley is especially
good in five important states, California
Minnesota. wisconsin, Iowa and northern
Dakota. The total yield for the United
States should be about 14S, 100000 bushels.
"rhe average condition of the rye crop
is about 8 per cent better than in 1900
The hay crop is quite short.
Cotton Will Exceed Last Year.
Cotton in the southeastern states has
been damaged by too much rain, making
it two or three weeks backward in some
sections. Taken as a whole, the yield VIII
exceed last years by a fair margin, Geor-
gia excepted. In the western and south
western cotton states, the crop Is In hne
condition, and on account of somewhat IN
creased acreage will yield at least 20 and
probably % per cent more than last year.
The crop seems singula free from IN
sects. weevll or other pests, and the proni-
e is fine. II Is too early yet for reliable
estimates
Under the head of business SUMMARIZED
the report says:
Business Situation Excellent.
'arhe letters from leading bankers in
all ordinary and central reserved cities
show without exception that the business
and financial situation is excellent, ana
ali that could be desired; the outlook Is
encoura cling, and entirely satisfactory, IN
deed it seems that we are entering upon
a period where it is not unreasonable
to expect realization of Legitimate profits
on the large amounts that have been ex-
pended in the betterment of railways and
Industrial enterprises during the past
eight years, increased earnings inevitably
must bring Increased dividends. Witn
the exception of some of the smaller
cities in the middle west, banks through
out the whole country report strong
active and healthy demand for money at
firm rates, and while there is no prospect
of recession In interest rates, money Is
and probably will continue to be apun-
dant for legitimate business needs.
"The dlsquietig features are the pos
sible seriousness of Russian internal COM
plications, and the domestic political UNI
rest manifested in growing sentiments OF
socialism and fanatical antagonism TO or
gained capital, as well as large lndl-
vidta1 and all forms of Incorporated IN
terests
'sThe railway stua ton Is reported sound
and healthy; everywhere there is mani
tested a feeling of satisfaction, confidence
and even optimism. No diminution IN
value of business is expected before the
end OF 1907, and some offivials are pre-
paring for 10 to 90 per cent increase next
wear. The rate bill is not feared II prop
erly administered wholly apart from poll
teal and partisan considerations. Under
fair and proper administration as II is
believed will be the case, the. law will 1t
is conceded. even by railroad men, COT
rect abuses and result in good to the
railroads as we'll as to the public.
Iron and Steel Strong.
nThe iron and steel situation Is stronger
than at any time during the past two
wears. and conditions In all branches of
the trade were never better. Volume Is
at high tide and on orders already booked
will continue wen into next year.
every line of industry shows large
volume with increasing activity; prosper
ity is general and nowhere are there any
signs Of its dscontinuance. Evidence is
not lacking, however, that the conserva-
tive element, particularly the leading
bankers in the large cities, realize that
such unprecedented prosperity cannot be
expected to continue indefinitely; that
further expansion of credits and volume
of business as well as personal extra.
vagance should be checked.
COMES BY JACKSONVILLE.