The Elbert County tribune., 1907-10-31
MILLIONS From CROPS AND
MINES MAKE COLORADO
sToREHoUsE OF WEALTH.
BUSINESS MEMS VIEWS
DOLLAR WHEAT AND GOOD
WAGES TO LAsoRERs MAKES
THINGS HUM MiNTHE WEST.

ency OF those who are really the back
bone Of the commonwealth"
The foregoing statement by Meyer
Friedman. president of the Denver
chamber of commerce, sounds the key
note as to the secret of the magnifj-
cent stability of the financial struc-
ture Of Denver and the state at large
in the face of the upheavai in Wall
street Despite the excitement
throughout the Eastern states as II
result of that upheaval. not the slight
est uneasiness is felt in the money
markets and big business houses of
Denver. Every line of business is pur-
suing the even tenor of its way and
optimistic reports of healthy growth
and increase of trade is coming from
every side.
Millions From Wheat.
= Dollar wheat, and 10000 900 bushels
of 1t ready for the market in the gran
aries of the farmers, is adding to the
$15. 100000 and more of financial Joy
that has already come to the backbone
mentioned by Mr.. Friedman through
the marketing OF the beet crop. And
best of all the farmers don't need the
money. Instead of the usual feverish
haste to get their crops to market as
soon as the harvest is over the Colo
RADIO growers are SO well situated this
year that they are able to hold their
commodities and command the prices
instead of leaving the fixing of that
sllimportant item to the purchasers
or to produce brokers. And what Is
true OF wheat . true of every Other
commodity according to reports re-
ceived by James H. Young. secretary
OF the Colorado State Commercial AS
sociation.
This year has been the banner year
of the states history for the agricul-
turists. New land has come under cul-
tivation through the extension of the
irrigation systems and the extension
of dry farming. In addition to the
prosperity of the farmers the mining
industry reports gratifying improve
ment in nearly every section of the
state, and big gain over last years
production of $50 900 900 is looked for.
What the business men say Of con-
ditions follows;
Meyer Friedman, president Denver
Chamber of Commerce:
THE foundation for all financial
prosperity consists of the solvency of
those who are really the backbone of
the commonwealth
"The farmer is in better financial
condition today than he has been fc:
a great number of years past With
the farmer as the creditor instead of
the debtor that he was some years
ago, | cannot see that the spectators
furry in New York can in any way
affect any part of the West.
Our banks are in more than first
class condition and with reserves of
about double that which is required
by law.
"Our merchants have had prosperous
years and are not in debt For these
reasons 1 can see no danger ahead
and l do not believe that the present
condition in New York will have any
i'll effects in Colorado"
Values, NonspecuIative.
w. A. Hover. president of the United
States National bank and w. A
Hover & Co., wholesale druggists:
Colorado is probably in better
shape today to withstand the shock OF
financial disturbances now prevailing
on Wall street than at any time in
her history. Those who are familiar
with conditions locally know well that
Colorado was one of the last sections
to respond to improved conditions fol
lowing the period OF depression pre-
vailing for several years after the
panic of 1898. Improved conditions,
when they did come, were on a most
conservative basis Values OF all
kinds in Colorado are nonspeculative
in character and are of real intrinsic |
worth. Our financial institutions are
not burdened with securities of spec
ulative character or of inflated values. |
The clearing house banks of Denver |
have ample cash reserves to meet all
legitimate requirements. and there is |
nothing whatever in the situation to |
cause any apprehension on the part of
our business community"
Wholesale Business Index.
Charles Mac A. Wilcox, manager the I
Daniels & Fisher Stores Company:
I'VE have not yet felt the slightest |
effect of the Wall street and Eastern |
financial disturbances, and | don't see
any reason why we should. Business
here during this season has shown |
very gratifying Improvement over a
similar period of last year in all of
the lines with which I am familiar
Our wholesale business has been par
ticularly healthy. and that is usually
an unfailing barometer of trade condi
tons.
Crops in all sections of the state,
except for the fruit that suffered from
frost last spring, are better than ever.
and commanding the highest prices.
Even the fruit crops have been money
makers because of the unusually good
prices commanded. ]. talked last week
with one OF the largest growers in the
Grand Junction district and he in
formed me that he had orders from
Los Angeles, California. for every
thing that he had raised at prices that
were away ahead of any that he had