Bluefield evening leader. [volume] (Bluefield, W. Va.) 1906-1911, 1908-07-21
HENRY CLEws OPTIMISTIC
GREATEST CROPS IN HISTORY
OF CoUNrRY-N0 OvER-PRO-
DUCrION OF MANUFACTURES.
FARMERS OWE LITTLE.

Henry Clews. a leading financial
authority, of Wall street, is opti-
mistic and be,ieves that prosperity
must return whether the stock gam
blers are ready for it or not. He
says:
Financial conditions continue to
show steady Improvement. chiefly
owing to favorable crop prospects.
easy money, and n more hopeful feel
ing in business circles. Our finan-
cial leaders and captains OF indus
try are all becoming more and more
optimistic in their opinions. De-
preston is slowly but gradually dis
appearing, and evidences OF improve
ment are visible in the diminishing
number OF idle cars, in the somewhat
better orders for steel, in partial
revival of building. and in a steadier
demand for merchandise in manyAof
the leading markets. OF course,
business is still very quiet. and in
volume much below that of n year
akO. bul the law 10 II W.
theless, that depression is waning
and that we are fairly started on the
road to recovery. with no prospects
OF another panic in sight because
of the thoroughness OF recent liqui-
dation. 1t may be some time be-
fore the activity OF 1907 is regained,
but the recovery should be more
rapid than usual because the coun-
try generally is not suffering from
overproduction as during the previ-
Gus panic. and ere long our indus
tries must restart to prevent an ac-
tual scarcity of merchandise II pres
ent contraction is persisted in.
Good Crop in Prospect.
The most stimulating element in
the situation at present is the crop
outlook. Our weather during the
past two weeks continued favorable,
and the condition of crops has cor
respondingly improved. The corn
crop this year, according to present
promise, will yield 2,700,000,0
bushels, which at the September OPP
tion price of CO cents would be val
usd at $1,000 100000. The wheat
crop with an indicated yield of 675,-
100000 bushels at 90 cents per
bushel would amount to 1927 ,000,-
600. The cotton crop, which prom
Uses 100000 bales, at . 1-2 cents
would yield about $500, 100000. The
oat and hay crops, now out of dang
err are record breakers in quantity
and quality.
Last year these to crops were val
ued at over 81 100000, geo, and this
year that sum VIII be further ex-
ceeded. All the crops of 1907 were
estimated by the department of ag-
riculture at valuation of 81 49,
100000 on the farm; and in view
of the large yield this year, and the
good prices generally obtained, 1t -
quite reasonable to expect that our
farmers this year will produce new
wealth worth at least $4,000, OOO,-
900; the largest sum ever realized
in one year by this country or any
other from agricultural products.
This continued prosperity of our
farmers will be the strongest factor
in recovery. Our farmers are al
ready in better condition financially
than they ever have been as class,
and since they are less in debt than
usual they will be more able to buy
necessities and Injuries than at any
time in their history.
If there is any hardness in recov-
cry it will be chiefly in the erection
Of new buildings and new plants. In
all probability the plants OF the
country have been sufficiently en-
larged during the last few years TO
meet requirements for some time to
some. and as we have been much
occupied buildings cotton mills iron
works new office buildings, new
anartments. etc. old-time activity IN
those lines will not be quickly re-
sumed until there arc signs OF IN"
now facilities booming inadequate.
"Every man To HIS trade" is an