The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1907-08-12

1 provided 1t escapes early frost. The
condition Of spring wheat Is poor, but
the winter wheat harvest has turned
tout better than expected, and some
reliable crop authorities are looking
for a yield possibly as high as $50.
100000 bushels. For corn the outlook
Is 1900, 100000
! Throughout the West business con.
! tinues on an active scale. There has
been no recession of consequence in
sales of goods going into consumption
The masses are prosperous and spend.
| ing freely. Our farming classes are
richer than ever in their history and
better able than ever to withstand
any agricultural setback. Fortunately
there is not prospect Of the latter at
this writing. The only sign of reces,
|sion in any direction is that referred.
to above, the stoppage of new bust
ness enterprises imposed by the limi.
tations of the money market Bankers
in all parts of the country are be.
coming exceedingly conservative and
are effectively applying the brakes on
questionable operations. In no part
.of the country can any pessinlism be
discovered corresponding to that
which exists on Manhattan Island
south of Fulton street. That seems
tc be the bluest spot on earth lust
now. Many Of our great corporation
leaders are much disturbed and dis.
pleased at the recent activity of gov
ernent officials For this they can
hardly be blamed, since not few
state attacks are indiscriminate and
ill-judged. Nevertheless an era of re.
form in corporation management has
already begun, the effect if which will
be beneficial to stock hold.
ers and will do much towards remov-
ing the political and social discomfort
which has been rising in threaten
ing degree for several years past.
There is the best Of reason for stating
that the federal government has no
trust smashing" policy in view |
There has been much exaggeration |
as to the intentions of the govern. |
ment in this respect, and all that is |
likely to be enforced so far as can |
be ascertained is quiet but firm |
policy OF compelling the great cor
porations to obey the law equally |
with the humblest citizens or course.
there is more or less public hysteria |
with these movements, but |
10 In /
results Of past agitation will unques
Lfonably leave us with permanently
higher standards of corporate man
'gement and responsibility.
The outlook for the stock market
S hardly promising. We can only
continue cur advice to our customers
q be cautious in getting into debt.
stocks even at these prices cannot be
egarded as cheap SO long as money
its present rates, with the
prospects of going still higher. There
S no real cure for the present con
estion in the security markets ey- {
ept liquidation, which is a painful
ut necessary remedy. A considerable I
hort interest has been developed the |
overing of which may at any time
ause sharp rallies. No permanent
Use in the market, however, can be
expected until money rates return to I
he normal This cannot be accom- !
lished until securities have touched {
lower level The prospects, there /
IRE, are for an irregular market: oc- /
psional rallies being followed by still I
lrther dips downward Much eau !
on will be necessary in stock mar. /
ct operations for the next few a
lonths.
HENRY CLEWS. S