The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1909-08-09
New York. August :. 1909.

der control of the big operators. what
with their desire to sustain the market
in order tG dispose cl their surplus
holdings and what with the necessity
OF leading bankers keeping the mar
ket in good condition for the large
new security issues contemplate !
during the next Two or three months,
there was little chance sor any i'm
portant downward reaction in the ali
sence of untayorablr news. OF the
latter there was practically meme.
Crop Outlook.
The crop outlook is now the mos
important factor in tie general siJua-
ton AS anticipated. the government
cotton report was un1avOrable, and
had a marked effect upon the price of
that staple While some improvement
is possible in the condition OF the
plant during the remainder OF the sea
son, it is practically "A foregOne con-
clusiOn that the cotton crop Will be Il
short one and that high prices mus
be expected this season. This means
good times for sections whore the in
jury was Slight aud vice versa tor
sections where the injury was great
1t is unquestionable, however If there
viii be any extraordinary scarcity Of
cotton, for the reason that many OF
the European mills are running upon
short time and Europe IS already pos.
sessed of a larger supply Of raw cit.
ton than year ago. AS .or the grain
crops, their outlook continues salts
factory July and August are fire.
quently months OF deterioration, and II
is quite possible that the government
report expected MONDAY VII SHOW a
slightly lower percentage Of condition
than a month ago. II cannot be claim
ed however, that there is any great
shortage Of grain; in fact, the corn
crop promises to be ihe largest on
record and prices for all agricultural
products are known TO be exception
ally profitable. For this reason there
is an optimistic feeling throughout the
entire grain belt, batn merchants and
bankers in those sections of the coun-
try anticipating with much conf
dence a good autumn trade. The ag-
ricultural outlook as whole is be
y3nd question encouragina because
of the profitable basis upon which Is
is at present working.
In the industrial Field.
In the industrial field signs Of r@cn-
continue 10 multiply. As
said in previous adyices, the volume
Of production in most industries is
not yet equal 10 that existing befre tha
pants; yet the tendency is towards q
steady increase of utput, and fortu-
uately there is a brisk demand for all
the products of our mills, both pres
ent and prospective. The iron indus
try continues very active, there being
a rush OF orders for nearly all classes
of steel products. while the pig i!o9
output, which last month was at the
rate of 25,5o0.000 toss, is rapidly APP
preaching record breaking propOr
tons. The cotton industry continues
quite active though somewhat handi-
capped by the high price of the raw
There is. however, an en-
tire absence of over supply, and a
brisk demand for cotton goods is re-
ported in all of the western markets.
The only branch of this important ia
dustry at present suffering is the OK
port trade, which naturally feels the
effect Of high prices. In the wo-lcn
business there is much activity. the
mills are well sold up and the prices
are firm largely owing to the advance
and activity IN wool. which is com
scarce. Only one imp0rt-
ant market has Jagged behind, All
that has been copper. The domestic
demand for this article is now i.a-
proving in common with other metas,
and better prices would have bell r.
allied no doubt We're it not tor Ia"
fact that production IS still increasing
faster than consumption and run
ming at record-breaking prices. Mel-
camille prospects are excellent ami
business men generally are not orlv
a good fal trade, but are
preparations accordingly.
Money Conditions.
Call money continues plentiful AMI
easy. while time money is gradually
hardening and still better rates are
anticipated during the next two or
three months. This = due TO the re-
vival of business activities and prep
arations for financing the crops. The
west will undoubtedly need some as
sistance from this center for the Tat
ter purpose. and the employment of
funds in that capacity will Of course,
tend 10 firmer rates. The effect Of
Grmel time money upon the stock
market is somewhat problematical If
stocks are 10 be pushed TO a still hign-
or point the natural results will be to
drive money out of SOCKS into fields
where it can secure better returns
although high rates for money and an
active bull stock market are not in-
frequently seen together. As a result
&c F'~.an~ money there have been SOM