Pine Bluff daily graphic., 1908-09-15

|elopments of the financial < te been, first, the decision of
 pd States Circuit Court of
 Pennsylvania, declaring the
 y clause of the Hepburn law
 tutional; second, the pro-
 by the Department of Agri-
 f what for practical purposes
 liminary harvest return, and,
 e sudden advance in call
 2 1-2 per cent. The first
 |hese items were reassuring;
 named is not surprising. The
 Id corn harvest, it is true, will
 not figure quite up to expec-
 EuYrent month or so ago;
 However, considerably above
 age, and as the danger point
 corn may now be considered
 been safely passed, one of
 sources of uncertainty in the
 financial situation is removed.
 leat promise is 32,000,000
 ahead of the final harvest re-
 a year ago, itself an excellent
 r, and prices are fully as high
 current at this date in 1907-
 1.04 per bushel for No. ? red,
 hdard. The corn promise also
 that of last year, though by
 100000 bushels. the indicated
 ping 2,595,597,00O bushels; and
 lures are about 1Oc per bushel ! le prices current at this time
 hr. Final harvest returns usu- kceed the preliminary indica-
 Oats and hay, which are also hnt crops, are we'll above the burns, while cotton, though it t yet advanced sufficiently to
 definite estimates, will un- lnably rank among the highest
 of recent years. Taken alto-
 therefore, the agricultural sec land all whose success is asso- 2with the products of the ground, osured of still another addition
 long yearly record of agricul- prosperity that has remained un- D since the partial failure of the crop of 1901. The agricultural |sts have participated only indi- in the recent financial upheav- ley are sound and solvent; their asing power is still intact and are merely awaiting the touch mplete confidence to extend the Of fellowship and fraternal aid industrial and, ill turn, the mer- e interests of the country. It is y probable that these two inter- will show much progress until the November election, and in leantime their demands will not ne important factors in the y market.
 Circuit Court decision that the odity clause of the Hepburn law constitutional is important as ;hing still another evidence, if were needed, though I for one never doubted it, that the Gov ent of the United States may be ded upon to give through it's pro- ldicial bodies justice to rich and and to deal out justice alike to ighteous and unrighteous. The 'ular point of the clause was the coal-carrying roads were t to be prevented from carrying own coal as a commodity to sell nsumefs; they could, it was con- eown the coal properties; they carry coal for their own uses; hey could not try to sell coal to the value of their proper vas therefore very greatly at is- The court has decided in effect property rights were attacked; he Fifth Amendment to the Con- ion forbidding that any person be deprived of life, liberty or rty without due process of law cen violated, The matter will be d to the Supreme Court, where ision will be given after proper careful consideration. But tSu- aI burt decisions are matters for LeYation for the distant future; Hepburn Act as disturbing fea- $ removed from the list of imme- market influences and to that t the situation is cleared. The } incident merits classification g the developments that have tly been so significant of the ap- h toward dissolution in the wave tate and other forms of antag- towards associated capital that ,een too greatly current of late . The wave is certainly passing wners of securities are becoming and more assured of the perma-