New-York tribune., 1907-11-15
MORE ROSEATE VIEWS.
FTNANCIERS ARE HOPEFUL
Agree That Real Prosperity Is Not
affected.

Several men well known in the commercial world
added their optimistic views yesterday to the many
already expressed on the commercial outlook and
the effect of the financial furry the general
business Of the country. Among those who gave
their opinions that the business outlook good
are Seth NJ Milliken, president of the Mercantile
National Bank and member of the firm of Deering.
Alken d Co. commission merchants, and s. T.
Hubbard, of Hubbard Brothers & Co. and mem
ber of the Cotton Exchange. Milliken said that
the conditions in Wall Street had not affected the
merchants and the percentage of business done
this year had been greater than for 1906 Mr.. Hub
bard said that present setbacks only tenn
porary Neither has the financial stringency inter
fered seriously with the sugar coffee industries.
he believed
Mr. Milliken said: Business in general is first
GLASS; it is getting better every day The situation
as to the money conditions is this: If there is any
doubt about man he can't get money; If he Is
strong commercially he can get the money.
"Our business IS larger by 10 per cent than last
year. There IS no panic In the country. and. in
fact, there has been financial panic since 1873.
We can judge the conditions of the country by the
collections. on which they have had little effect.
THE money is not locked up much as is
ported Much of it has gone into the cornhelds
and cotton fields, and money will be found where
the crops are. General business has really never
been better. There is a scarcity in drygoods, and
the demands are tremendous. The cotton mills
prosperous.
The cotton men have done this year their largest
business in twenty years. WooIlen goods are so
high there is not large business being done in
those lines.
"Of course the people feel the necessity of eau
ton in these times. but overcautious.
The trouble IS that people too easily frightened
by appearances IN Wall Street If things eased up
there for week all this feeling OF suspicion
would disappear at once"
S. T. Hubbard places his faith in the stable
rency OF the country and the great success OF the
years crops throughout the South and West.
Mr.. Hubbard said:
THE bearing of this upon the present outlook
lies in the fact that with these reserved resources
wait three or four years for them to grow crops
and recover strength. They strong now. and
can continue buy whenever they need 10. They do
not need to grow another crop two OF or
cotton before they make outlay for material
forts They have the money in reserve with which
90 It. This in Itself is a force OF enormous
proportions, taking the value Of the present years
crops and what carried over from preceding
ye1rs into account part of the rural resources
which are available TO withstand undue recessions
in business"
representative Of Arbuckle Brothers. coffee and
sugar, said that collections satisfactory and
that the financial stringency had not proved sert
factor in the business The principal trouble
with large sugar mills has been with the payrolls
and duties.
Steel and Wire Company, gave his views of the
financial situation in THE Wall Street Journal
yesterday in which he says that there is every in
dication that the worst is He says that
sensible and effective currency legislation will serve
{ to stimulate and readjust conditions. With an
elastic currency. Mr. Lambert said there would be
a general revival In all branches of trade