The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1907-10-24

shss ~ the csse. snd they kuoSinHlY
sell such securities 20 She iauoevnt
and ansuspsrflug investor. The 80
xsggsi penalts should be- snulefed
8pou them The startling decline ia
many OF this class ~ securities Nth
ia ths last few days shows that their
values acre merely fictitious. aud
not real. And this Is true of even
many stocks that are listed Amai-
zsmated "copper" year aao was
worth lls. TODAY IL Is selling Tor a.
showing tina, be Who bought at
lllN and stitl owns same has lost -
cents on every dollar so Invested
Heiufe's copper stock sold for 64
cents the day before he failed, on
the day II his failure It sold FOR ten
cents Banks OF trust companies that
| loan on or bay such trash are not
20 be pitticd when caught That val
ues fluciuate we are all aware, but
40 Nuch fluctaation In In times Of
peace and prosperity Is Justified,
| That some OF the institutions now
| In the tolls are loaded with such as
sets there is no doubt, and the dras-
tic measures applied by the clearing
house association to purge the
| banking fraternity OF this class Of
wreckers is highly commendable.
Another factor that has largely
produced scarcity OF money In
New York and other financial cen
tiers is the holding OF cotton by the
farmers. Ordinarily at this season
OF the year cotton Is being marketed
and shipped rapidly. The proceeds OF
such sales find Judgment in New
York banks. credited to their coun-
Try correspondents. These balances,
As a rule, at this season are large.
Now they are small. And. moreover,
this credit from cotton sales in New
York for the country banks again in
turn becomes a credit in foreign
countries to the New York banks.
in settling our trade balances with
other governments. This extreme
shortness of the export of cotton
and grain is working greatly to our
disadvantage at this time, and un-
less the expectation of these prod
uCts becomes more active in the
near future, we will soon be forced
to settle our trade balances with
other countries by the actual ship
ment of gold. This would be very
unfortunate at this time, owing to
! the present scarcity of money. At
best our cotton crop viii be far short
Of last year, and the estimate now on
our corn crop is 1900, 900 bushels
less than last year. The wheat crop
is estimated to be 10000, 900 bush
els less than last year, and the oat
crop is short of last years crop 223,-
900. 900 bushels. That present con
ditions warrant an end TO the wild
and extravagant overtrading and
speculation that has prevailed for
several years, there can be no doubt.
The people of the south. and more
especially in the smaller towns and
rural districts. will not feel the eff
feet Of this striugeucy as will the
east and the larger towns and cities.
7 Our cotton crop, while not large.
will bring q large sum OF money at
/ the present prices. If Ellis county
! makes 10000 bales Of cotton, and
We think this is reasonable esti-
mate. that will bring TO our farmers
five million dollars. % is manifest
tAa, the people Of Ellis county have
cause 20 rejoice.
Last year thc total value of Ellis
county products Was about $4,000
1000. fbe total produa. of gold iu fho
United States n-- yclr was ouN
g942li000. The fellow Boo the cas-,
.- uuN Gulu- Us stunt uu fhr uu.u
... #aHf ruu, U. MHu.. pooh. hH.
...u.ur. ...u ..u ". Hud u.1..
.f.u.. HH .Han.. .uI U. mwHl.
... Iu..a F." .. .w.r. Dol. u.
.. .. .. lt. mNH.. .f 4. Dol
... ..I $40. .r 4" .u ..u. uH.
.... ... .."H...... H...f -HIHe .H"
..... F.. .H..H. U present condition
.. ..4.s NM. .r... sH.uI.. a .s.. 'a.
.....t# aH. ... ....s .t. .aH.sI ...
H.......... ... ..... ... ... f.