The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1908-04-13

nately receivership has been thu
ayerted along all the ENHANCEMENT,
and disturbances which such stel
would have inevitably involved. Hat
Erie gone into the hands of a receiver
the effect beth at home and abroa,
would have been exceedingly detri
mental to tht financial situation il
general What Mr.. farriman's plan!
for the future are remains tobe seen
but judging from his past operations
they are likely to be of constructive
order rather than otherwise. If it bit
as in generally supposed, Mr.. Harri
mans ambition to secure a great
trans-continental system, then control
Of Erie would undoubtedly offtr him
a signal opportunity; such one as
would fifty crown the achievements Of
any great railroad magnate.
Erie important Event.
! Outside of Erie there have been no
events of importance in the financial
world. Operations on the Stock Elk
cahnge are being conducted on very
moderate and conservative lines; the
indications being that this policy will
be followed for some time to come
Our big leaders are generally inactive
Ipreferring to await the outcome of pol
itics, or to hold back until signs of
business revival are more tvident. Per
haps the most encouraging news of the
hn
winter wheat, indicating yield of
493,000000 bushels this season. Con
dition is reported at 91.3 on April lst,
compared with Oil on December ],
and with 1913 on April /, 1907. There
figures are sufficiently high TO allow !
for considerable deterioration as well
rs for the reduced acreage resulting
from winter killing, and still eayiug
an ample yitld for the coming harvest
Operations for planting in all parts
of the country are well advanced, and
the season is fully two weeks ahead OF
the same time last year Considering
the profitable prices which farm pro-
ducts centrally are bringing there is
acreage; and the general conditions |
are such that farmers have every in |
ducement for increasing their output |
during the coming season. 1t is note |
worthy that there ere not many com
plants of the scarcity of labor, which
last year materially interfered with
a proper cultivation of the crops in
many districts.
Great Ease of Money.
Another very favorable feature is
the great ease of money. In view of
the duh condition which reigns in
trade and the low prices on which bus
mess is based, the indications are that
very easy rates will prevail, at least
until the crop demands begin to assert
themselves In fact it would be no
surprise if money were soon to become
a drug in the market. This does not
mean that credit will be plentiful,
Bankers are Justly pursuing very con.
policies and exercising much
in the granting of Gre
lit and support of new enterprises
Sound concerns. however, have no
difficulty in securing all the reason
tble accommodations which they re-
luire. and commercial paper is in
good demand and free supply. The eff
ect of such easy money in the long
'un will be extremely beneficial to the
security markets. In the first place
{ will enable many who have been
'ramped for means. to turn about and
adjust themselves TO the new condi.
ions. This is a feature the import
nee Ct which can only be fully recog
lized by those in close touch with
financial and business affairs Suffice
t to say that some of our perfectly
ound concerns have been embarrass.
d no other influence so much as the :,
ilficulty of securing accommodations
ranted without question
which ordinarily would have been
ranted without question
Good Effect of Low Rates.
The lower rates for money will also
ave another good effect that of slim.
lating the demand for the better class
lass of investments. At current rates
f interest per cent and per cent
Ugh grade bonds and stocks win begin
D look cheap in proportion as conf ,
ence reyives. Confidence is slowly !
eviving and hope for the future is
teadily rising: yet it is doubtful IL
ny real business recovery can be :
loktd for until all doubt regarding the :
ethical outlook and the crops has s
cen safely passed. Emergence from |
dch cisis as the one Just passed is |
matter of time. REIMBURSEMENT is in. I
vitality slow, inasmuch as it mus; /
-urk its way through all departments Y
hCsiness activity until the process |
completed This means that all in. 8
srests must come down to the lower '
.ycl and that costs of business must
e greatly reduced. Unfortunately this
annCt be accomplished without more
r less contraction and depression.
We are now passing through this
recess. which should not be unusual
Z protracted, and which must be pa !.
emily endured.