The Paducah evening sun. [volume] (Paducah, Ky.) 1906-1929, 1909-08-11
CONDITIONS AS
CLEWS SEES THEM
CROP OUTLOOK FAVORABLE, En-
CEPT AS TO COTTON.
Growing a Bit SITTER In
the East,
AS TO TRADE AND INDUSTRY

New York. Aug. .. Especial y
The New York market continues I'M
der control of the big operators.
What with their desire to sustain the
market in order to dispose of their
surplus holdings and what with the
necessity of leading bankers keep
ing the market in good condition for
the large new security issues con-
templated during the next two or
three months, there was little chance
for any important downward reac-
ton in the absence of unfavorable
news. OF the latter there was prac-
tically none.
The crop outlook is now the most
important factor in the general stu
alton. AS anticipated, the govern
ment cotton report was uRfavorable.
and had marked effect upon the
price of that staple. While some
improvement is possible in the condi-
tion of the plant during the re-
mainder of the season, It is practical
ly a foregone conclusion that the
cotton crop will be short one and
that high prices must be expected
this season. This means good times
for sections where the injury was
slight and vice versa for sections
where the injury was great. IL is
questionable, however, If there will
be any extraordinary scarcity of cot
ton, for the reason that many of the
European mills are running upon
short time and Europe is already
possessed of a larger supply of raw
cotton than a year ago. AS for the
grain crops, their outlook continues
satisfactory. July and August are
frequently months of deterioration
and it is quite possible that the gov
eminent report expected Monday will
show a slightly lower percentage Of
condition than a month ago. 1t can
not be claimed, however. that there
is any great shortage of grain; in
fact the corn crop promises to be
the largest on record and prices for
all agricultural products are known
to be exceptionally profitable. For
this reason there is an optimistic
feeling throughout the entire grain
those sections of the country antici-
pating with much confidence a good
autumn trade. The agricultural out
look as a whole is beyond question
encouraging because of the profit
able basis upon which it is at pres
ent working.
Industrials.
In the industrial field signs of
recuperation continue to multiply.
As said in previous adviees. the
volume of production in most in
dustries is not yet equal to that ex-
isting before the panic; yet the ten
dency is towards steady increase or
output, and fortunately there is a
brisk demand for all the products of
our mills, both present and prospec-
tive. The iron industry continues
very active, there being a rush or
orders for nearly all classes of steel
products, while the pig iron output,
which last month was at the rate of
25,500,000 tons, is rapidly approach
ing reeord-breaking proportions. The
cotton industry continues quite
active, though somewhat handicap
ped by the high price of the raw ma
terial. There is, however, an entire
absence of oversupply, and a brisk
demand for cotton goods is reported
10 all of the Western markets. The
only branch of this important indus
try az present suffering is the export
trade, which naturally feels the effect
OF high prices. In the wooden bust
ness there is much activity; the
mills are well sold up and prices are
firm, largely owing to the advance
and activity in wool, which is COM
paratively scarce. Only one impor-
tant market has Jagged behind, and
that has been copper. The domestic
demand for this article is now inn
proving in common with other
metals, and better prices would have
been realized no doubt were it not
for the fact that production is still
increasing faster than consumption
and running at record-breaking fig
ures. Mercantile prospects are ex-
cellent and business men generally
are not only anticipating a good fall
trade, but are making preparations
accordingly.
Call Money.
NCall money continues plentiful and
easy. while time money is gradually
hardening and still better rates are
anticipated during the next two or
three months. This is due to the
revival of business activities and
preparations for financing the crops.
The west will undoubtedly need
some assistance from this center for
the latter purpose, and the employ
ment of funds in that capacity will.
of course, tend to firmer rates. The
effect of firmer time money upon the
stock market is somewhat profile
matical. If stocks are to be pushed
TO higher point the natural result
will be 10 drive money out of stocks
into fields where ii can secure better
returns, although high rates for
money and an active bull stock mar
ket are not infrequently seen to-