The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1909-05-17
BUSINESS REVIEW OF THE
PAST WEEK BY HENRY CLEWS
There are few, if any, clouds on the
financial horizon. The outlook contin-

There are few, If any, clouds on the
financial horizon. The outlook contin-
ues satisfactorily: and the spirit of OPP
timism having extended itself into the
commercial and industrial field. nearly
all the leading industries are happily
feeling the impulses of recovery under
the stimulus of lower prices and cheap
money. The iron trade was first To
respond to these conditions, and is at
present showing considerable activity.
the volume of orders for structural,
railroad and agricultural implement
work being very large. Various other
metal markets are also rejecting these
improved conditions. while the electric
and rubber industries are showing
symptoms of revival. The textile
trades, also. though undergoing the
customary quietness at this period. are
in a relatively healthy condition, while
raw materials generally, as we'll as
partially fabricated materials. are in
much better demand from manufactur-
ers. Another noticeable feature is the
continued large importations of raw
true of tariff changes, but still very
largely in expectation of larger con-
sumptive requirements. One more
very striking indication of business re-
covery is that bank clearings in the
United States during the first four
months of the current year amounted
to SOL 500, 100000, an increase of 80
per cent. over the same period last
year Allowing for the fact that con-
siderable of this increase was due to
higher prices and greater activity on
the Stock Exchange, it follows. never
theless, that an actual increase in the
volume of business must have been
largely responsible for SO great an ex-
pansion. A still further evidence of
growth is found in the latest reports
of railroad earnings. the total of all
roads thus far reporting in April show
ing an increase of about II per cent.
over a year ago. Railroads are benefit
ing somewhat from slight advances In
rates. but here. too. an actual increase
in the volume of trafiic plays the most
important part. 1t is quite evident
that cur railroads will present salts
factory net results during 1900. since
gross earnings are steadily increasing
and expenses have been greatly reduc-
ed by recently enforced economies.
Bearing in mind that the railroads
will be free spenders during the re-
mainder of the year on account of de-
ferred repairs. improvements and ex-
tentions. it must be recognized that
their return to prosperity cannot be
otherwise than an important factor In
stimulating business improvement
elsewhere.
OF all the elements in the situation.
the crop outlook is perhaps the least
satisfactory, the reduced acreage con-
dition of winter wheat and oats being
in the main responsible. 1t Is prema-
ture. however, to take pessimistic
attitude regarding wheat. since much
of the loss in winter wheat can be
made up by the increased acreage OF
spring wheat and favorable conditions
during the balance of the season. Much
of the acreage lost to wheat will be
planted in corn. which for the last few
years has been a very profitable crop.
The outlook now is for big corn crop.
and this would practically OFFSET any
loss in wheat. Corn not only fur
nishes a large amount Of freight to
the railroads. but is transformed into
pork and other products. and is our
most important and staple OF crops.
Last year we raised 1850 .OO0, 600 bu
shells of corn valued at <1.6l6O0O.o 0O
whereas the wheat crop. amounting to
tss5 900 600 bushels. was valued at
only S611 100000 Our cotton crop
was valued at &7OO.OD.OOO and hay at
$685.. ono, oOO. so that the supremacy of
corn is far beyond question Should
the country be favored with another
big crop of corn. which the prospec-
tive general increase In acreage sus-
gests we may feel reasonably sure
of another year OF agricultural pros
perity. the importance of which can
hardly be estimated.
AS has been repeatedly maintained
in these adyfces. this country b cry
Ing In need Of big crcss. not only toy