The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1909-05-17

year we raised 1909, 100000 bushels
of corn valued al $1,61G,Oo0 00o
whereas, the wheat crop, amounting
to 6G5 900 900 bushels, was valued at
only $6t7,030,o00 Our cotton croI
was valued at $700,090003 and Lay a
$G35, 100000 50 that the supremaeF
of corn is far beyond question
Should the country be. favored with
another big crop of corr, which the
prospective general increase in acre
age suggests. we may feel reasonably
sure of another year of agricultural
prosperity, the Importance Of which
can hardly be oyerestimated.
/ Need Big Crops.
! As has been rcpeatcdiY main,ainad
in these advices, this country IS cry
ing in need Of rg crops, net only
The purpose Of bringing down Tho cts'
of living, but also Ct rebuilding q"
rapidly declining expert trade. Or
foreign trade balance : still one 81
| the most unsatisfactory feWGr Ct
the situation, exports CONT H,ng lea
and imports UNUSUALLY heavy tao r.
suit being further large gold ship
mcnts. Very likely EHrope VIII ~.
fore long be absorbing considerable
amounts of forthcoming bond issues,
which will afford a better supply &
exchange and thus tcyd to check TIE
outflow Of gold 1t is quito ro-sbl"
that the latter, unless checked, may
continue to be a harmful degree In
, the present highly inflated condition
of our currency The pr. sen CHEAP
ness of money C"couraacs this q
desirable tendency. and sfr leWa
bankers would gladly welcome tt'm
rates for money for reasons OF M
dcnce as well as for reasons Of profit
Bank loans are lowering around the
high record, while reserves OF BE- II
banks and trust companies have been
greatly depleted. These leldouaifs
suggest a hardening In rates sooner
than was al o.r iimo ant h'aIeG
What the effect Of a sudden calling in
of loans or the issue G! considerable
new security issues upoa she stock
market would be remains to be seen.
It does not seem probable that thay
would produce any impor ant reaction
under existing satisfactory conditions;
but they would at least madora ball
ish enthusiasm.
Reaf3r fer C5ut'on.
The chief reason fer caution n.
present is the unusually high lcy1
of this market Railroad stocks ar
now approaching tho highest poin
reached in the boam of 1901 The
same is true Of many ,nduslriajs, al.
though they have MOI u-ti! recently
shared propcrtiunat,ly the strength
and activity which have been cNp'-
rienccd in railroad shares The pres
ent support If the market consists
of big supply of optimism and mon
ey combined, and 'ao iWnlrliat'
tendency of prices !. must Dee cen
coded is slill upwards Nevertheless
present conditions favor inside sell
ing, and there are tn" best reasons
for believing that rich holders hay"
commenced TO gradually lesson thet
commitments. and will continue 10 do
so is without much doubt. $50. who
stocks are surely passing into th'
hands of traders who keep The marke.
active and give Il an appearance ,f
general strergth. my aJricc now is ~
new buyers be- cautious. qUi l-iu-a a.
out transactions are tor the present
1.-THE safest aat Do -,afn. Thor
also is The possibility. too, Fl not prch.
ability. that Europe vii! Dee 2 seller of
our high priced railroad stocks an
any further advance The shrewd IN
weston, and tho Spectator in par liza.
lar. will be Obliged 70 use much dis
termination in huyjng az these prices
HENRY CLEWS.