The Tucumcari news and Tucumcari times. [volume] (Tucumcari, N.M.) 1907-1921, 1909-07-31

New YORK, July. he follow
ing financial letter which is more
OF a general review OF conditions in
all lines, has just been sent out 10y
one OF the largest banking houses
in this city, and, 1t is believed, to
he one Of the most conservative
and accurate reports OF the present
season:
The turn oil the hall year found the
security markets still active with
firm prices, which within the last
fortnight have again reached rec
ord levels for some issues. The
semi.ahnual dividend and interest
settlement was adjusted without
difficulty, although payments to
be dlsbursed this month are likely
to reach S2oo, 900, 900. y
usually represents a transition
period in the American markets
and while investors have been
cautious, making careful purchases
the situation has been immensely
helped by the government crop
showing which is quite extraordi-
nary for this season. lnasmuch as
the prosperity OF the United States
is so largely based upon bountiiul
harvests, the important points in
the crop situation are worth sum
marizing at this time. They are;
The best aggregate crop showing
that the country has known, the
Indications being Tor a total yield
oil 5,o62, 900, 900 bushels OF all
grains, or $4,000, 600 bushels
more than the harvest OF 1908,
and 22o, 600, o. bushels in excess
oil the total production OF 1906,
when the record breaking out.
turn OF 4, S3o,ooo,o 900 bushels was
achieved. Corn will be the bump
or crop, the promise now being
for 3,II7,ooo,o 900 bushels, which
make by Tar the largest crop on
record; wheat gives indications oi
Goa, 900, 900 bushels Tor both
spring and winter, which is nearly
3o,ooo,o 900 bushels above last
years harvest; and oats makes the
best showing ever provided at this
date, with a promise OF a crop oil
I,o3o, 600, 900 bushels. These fix.
ures are very striking and becaus,
OF the favorable weather prevail
ing throughout the crop territory
the indications are that the totaI
yield OF all grains will be sufficient
TO meet home requirements and
provide a iair exportable surplus,
Inasmuch as the markets are
virtually bare OF supplies, with ex
ceptionally small stocks on hand,
the new grain will be certain tc
command relatively high prices,
The cotton crop is not doing a.
well, but II is altogether too early
yet to justify the extravagenI
predictions recently made OF /;
greatly reduced Yield.
The best Judges OF investmen
conditions, alter careful study o
the entire crop situation, as re
Elected both by the government
figures here discussed and report,
from private agents, take a very
hopeful view oil the outlook
Should 90 per cent OF the prcsen
crop promise be retained unit
harvest the result would be a tire.
mendous addition to the country''
wealth and continued prosperity tC
the farming classes which hav,
long been among the most well.to
do people in the world. TIL,
promise OF this prosperity is at tn,
bottom OF the steady increase il
security values and tbs caution,
optimism which rs felt ywher,
in the United States today. Gen
eral business is improving gradual
lv-there have been no tremen,
dous strides yet made-and with tn,
adjournment OF Congress and tn,
enactment oil a tariff measure thi:
betterment will be emphasized il
all lines. The railroads have {
good deal OF new financing to pro,
vide Tor within the next two Of
three months, but the disposition
is not to make excessive emission
or to test the market too far
While there has been a great dea
OF liquidation in the stock markeI
by those who desired to secure tn,
handsome profits made during tn,
recent rise there has been read,
absorption OF all the stocks tina.
were offered SO that no demorali
cation whatever has resulted
The bond market SO lar has alsC
stood the test OF an enormous
volume OF proht.taking sales, tn,
offerings being largely from banks
and other financial institutions
that have been constant buyers o
bonds during the last oil YER,
cheap money. These investment,
were natural inview OF the FAC
that the investment return on thu
securities bought was much above
the return afforded by the money
market, but with the appreciation
in the value oil these securities !
was natural Tor the holders to TAX,
a position oil their profits and thi'
A.