New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-08-22
OUTLOOK FOR BUSINESS.
Chicago Banks ReUieso Shoes Cosn-
trv az Good Condition.

The Commercial National Bank Of Chicago has
.ust issued its seventh annual review under the
caption summary OF Financial, Commercial and
Industrial Conditions" which contains exhaustive
er,-ts On the general business situation monetary
situation. condition OF the crops, the speculative
markets. crop financing. labor and the cost Of
living and other matters of interest to bankers
brokers and business The report is based
r,pon answers TO some thirty thousand Inquiries
sent 10 bankers, business houses and crop author
flies all the Western and Southern states and to
bankers and business in the large cities of
the East.
OF the general situation the report says that
business is generally reported TO be in good vol
ume. with the exception OF the metal markets, es-
pecially in copper and the alloy metals, and that
the iron and steel industry is going ahead under
the pressure of orders previously booked for fall
delivery, but that there has. been slight relaxa-
ZION the demand recently. It says that the
railways are buying guardedly because of the diff
cUlIies OF getting money, but that the feeling pre-
walls that they will be compelled to buy steadily
In regard TO classified industries the report says
the conditions regarded as sound. though
slightly less strenuous than they earlier in
TIE year.
Speaking of the crops, It says, though the cereal
crops suffered by reason OF conditions which pro-
NOTED the luxuriance of the forage crops It ap-
pears that the yield Of wheat will approximate sae
0oeco bushels. TO which can be added the supply
left over from the previous year of about 100000
bushels II estimates the shortage Of the world s
oushels. and says that the indication is that the
potential demand for American wheat for export
VIII preclude any serious decline in the price of
the cereal during the year. Oats said TO be
short of the 1856 yield by probably 100000 $780,
ooooo bushels. and the crop is estimated at
eeoo0l0O bushels. Cotton. the report says, is now
expected come within looaeoo or 10000 bales of
last years total
Of money demand and credit the report says:
The bankers of the country. with few exceptions
for funds in all lines Of business activity Inter
est rates are very firm everywhere: and in the
for funds so much exceeds the supply that money is
vestigation justihes the conclusion that bank de-
posits show a straight average increase Of about
10s per cent IN the loans The averages weighted
would probably show a closer CORRESPONDENCE be-
tween the growth of deposits and of loans, It is
in agricultural and mineral products show larger
5nsTgin OF deposits over LOANS than The states of
featuring and trading communities.
legitimate business viii Continue to absorb ali
avalah!e fqnds Tor some time 10 come and there
in rates. at least not before the year-end nquida
Our reports are unanimous in saying that the
last year has been superlative The vital ques-
ton which every one is asking has TO do with the
have We reached the crest and begun n' the descent
dG more F9deTafe condiloIs: The snS"er to this
he credit operations Of the people
The report calls attention 10 the sagnation in the
purely speculative markets Of the world and the
high cost OF labor and materials and ends with a
statement regarding currency reform now before
the public, OF which II says:
After the exhaustive and protracted discussion of
The TWO plans OF currency reform before the
public Il IS rather surprising that the in
oicate almost absolute neutrality of opinion a.
credit currency according the plan Of the
American Bankers Association. We gather that
the positive opinion in favor Of properly regulat
ed credit currency is only per cent in excess Of
the negative and Indifferent opinion The question
appears have been canvassed in the light Of
strictly local conditions Bankers in regions of Pc
cullar stress. in localities where the habits of
the business community make usual modes of re-
lief Ineffective in favor of credit notes: but in
regions whose resources Of spot cash order
there is dIsincliHation weigh duly the argu-
fnents Of those whose needs suggest truly flexible
circulating medium
Unfortunately the virtual identity OF deposit liza
blities and credit banknOIes TO be less
potent argument with large part Of the banking
Industry of the country than the traditional horror
attaching barknotes without a bond basis.