The Cairo bulletin., 1908-09-14

New York, Sept. 12.-Speclal- Til
striking news developments of tn
financial week have been first. the do
lesion of the United States Circuit
Court of Eastern PENNSYLVANIA. d.
claring the commodity clause of tn
Hepburn law unconstitutional sec
ond, the PRONUNCIATION by the Depart
ment OF Agriculture Of what for prac
teal purposes is its preliminary har
vest rteurn, and, third, the suddel
advance in call money to 2h per cent
The first two of these items were re
assuring; the last named Is not sur
Uprising. The wheat and coranrteyhs.
prising The wheat and cron har
vests, it is true, will probably not
llgufe quite up to expectations coul.
rent a month or so ago they are.
however considerably above the aver,
age and as the danger point even for
| corn may now be considered to have
been safely passed, one of the CHIEF
sources of uncertainty in the general
financial situation is removed. The
wheat promise is 32,0O0000 bushels
ahead Of the final harvest returns of
year ago, itself an excellent crop
year and prices are fully as high rs
those current at this date in 1907
about $l.0l per bushel for No. . red.
the standard, The corn promise also
exceeds, that Of last year year, though
by only 100000 bushels. the indica-
ted yield being 2,595,59T000 bushels;
and corn futures are about Ice per
busheI over the prices current at this
time last year Final harvest returns
usually exceed the preliminary indica-
tons. Oats and hay, which are also |
Important crops, are wen above the
1897 returns, while cotton. though it
has not yet advanced sufficiently to
justify definite estimates. will I'M
luestionably rank among the highest
Yields OF recent years Taken alto.
gether, therefore: the agricultural sec
ions, and i'll whose success is asso.
lated with the products of the
round. are assured of still another
ID lition 10 tie long yearly record of
Sr0oa,tnfal prosperity that has re
NAMED unbroken since the partial
allure Of te corn crop in 1901. The /
1icu!mr2l interests have participa- {
ed only indirectly in the recent finan- II
ial upheayal; they are sound ana {
olyent; their purchasing power is 4
till intact and they are merely await 4
~ the touch of complete confidence !
extend the hand OF fellowship and f
aternal aid to the industrial and. in a
lrn, the mercantile interests of the Il
)untry. II is hardly probable that S
lese two interests will show much a
rogrcss until after the November n
lection, and in the meantime their s.
amands will not become important 2
ctors in the money market. S,
The Circuit Court decision that tn d
clause of the Hepburn law 3
unconstitutional is important rs A
FINISHING still another evidence. If q
he were needed, thought I for one el
e never doubted it, that the Govern a,
ent of the United States may be de-. an
nded upon to give through its prop is
judicial bodies Justice to rich and al
or and 10 deal out justice alike 70
the righteous and the mrighteous. al
d the unrighteous. The particular h,
int Of the clause was that the coal as
FRYING railroads were sought TO be- %
eycnted from cvarrying their own eli
al as "A commodity 20 sell TO con.
mers; they could. e. was conceded. Inn
m the coal properties. they could pr
try coal for their own use: but they az
A'N li'h 'AAA2 'bhi W SUI 10 OtHtlF lEU
and the value of their properties ey
IS therefore very greatly at issue. ca
q court has decided in effect that A
'perty rights were attacked: that is
2 Fifth Amendment TO the Constitu- an
n forhidding that any person shall of
deprived Of life. liberty or property tel
h0ut due process Of law had been iof
lated. The matter will be carried
the Supreme Court. where q decis-
will be given after proper and
.eful deliberation But Supreme
mt decisions are matters for con. sh
GRAFTON for the distant future: the We
pburu Act as a disturbing feature y
removed from the list OF immediate h.
rket influences and TO that extent 4.
situation Is cleared The entire
ident merits classification amongl
Developments that have receHtlrI
u so significant of The approach -
ard dissolution iu tbe wave Of -.
re- and other forms of antagonisn ,t,.
ards associated capital that has 81