The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1909-05-31
THE HATTIESBURG NEWS

ILL
respect. There is, however, niue
much larger yield than is now /
compensation in the outlook for corr
which promises a large and profitahl
crop; possibly the largest on recoTC
Our corn crop last year was valued a
considerably more than wheat AM
cotton combined. The outlook TO
cotton is for an average crop at goot
prices; SO that if corn and cotton re
l. alize expectations there will be N
reason for anxiety concerning our az
ricultural outlook. Our farmers viii
: again be a highly important element il
the continuance of national prosperity
and they are in the fortunate posi-
ton of having sure market for all
that they can possibly produce at very
profitable prices. Such conditions
should stimulate their exertions to the
utmost in order to secure the largest
yield possible, result which would
be not only beneficial to them, but to
consumers at large, who are feeling
the present high costs of all food prod
ucts.
The most encouraging conditions in
sight are those connected with the in.
dustrial situation. Our iron trade
shows steady improvement, every
branch of the latter feeling the influ-
ences of recuperation; the volume Of
business being almost up to previous
years. Some considerable new ca
pacity remains unemployed, yet the
tendencies are towards further better.
ment, and prices are rising. Railroads
have placed large orders for rails,
structural material, cars and engines.
The building trade continues excel
lent and is also a source of much new
business, shrewd and wealthy opera.
tors having recognized that the pres
ent is most desirable opportunity in
which to place their orders before
further advances are established The
copper industry is also feeling the 81.
fects of industrial improvement; COZ.
sumers are placing increased orders.
and prices have been firm. although
production is still in excess of con
sumption and supplies on hand remain
excessive. In the textile industries
there is considerable activity. espe-
cially in cotton goods: and the drv
goods market generally in exception
ally sound condition, although the us.
ual period of summer quiet is now -.
preaching. 1t is significant that Fall
River cotton manufacturers did not
enforce the reduction in wages this
week, which they could have done in
accordance with the labor contract.
This showed satisfaction with present
conditions and confidence in the FIJI
ture. The wooden mills are well sold
up and the big concerns hold ye-y
large orders. All things considered
the mercantile situation is as salts
factory as could be expected and
should show a further Improvement
next autumn. provided there Is no
Railroad traffic shows steady improve.
disappointment regarding the harvest.
ment and is being done on a much
more profitable basis than last wear
owing to new economies and better
rates.
The money market continues well
supplied with funds. Bank reserves
have lately been rising. notwithstan1.
ing the expansion of loans and con.
tinued gold exports. The great sur
plus of money seeking employment.
not only in the United States. but in
all parts of the world is emphatic les.
timony that business though improving
Is still below its former volume. The
situation, however, is working out its
own cure. Cheap money is one of
the greatest of stimulants to recov.
cry; also one of the best, provided il
does not encourage undue speculation
or initiation. The tendency for gold to
go abroad continues, commercial ax.
change being scarce because of con
tinued small exports and large i'm
ports. The future volume of gold
shipments may be affected consider
ably by the securities movement. Lon.
don is quite likely to sell many of or
higher priced securities in case of any
further advance. On the other hand
it is probable that a considerable pro-
portion of security issues includirr