The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1910-10-16
Palladtum speciall

palladium Specially
New York. Oct 15.-Activity on the
stock exchange increased In spite OF
Intervention OF the holidays. and the
undertone Of the market was strong.
the tendency Of prices being steadily
upwards. The influence contributing
chiefly towards reviving confidence
was the October crop report. This
removed all doubt concerning the corn
crop; the government report exceed
ing even the most sanguine .expecta-
tons of 1900. 600. 900 bushel crop.
Corn is king. not only because OF its
great money value, but because OF
the numerous directions In which 1t is
used both for domestic and Industrial
purposes. In money value 1t exceeds
both wheat and cotton combined The
wheat yield, though not what was de-
sired. has exceeded early expecta-
tons. and q large crop OF oats has
also been garnered. The yield Of cot
ton has been Disappointing: but SO
be fully compensated for by enhance
ed prices. All doubts concerning the
crops are now out OF the way except
cotton, which will be subject to dan.
ger from early frost for at least an
other two weeks. Since the harvest
is the important element in our ma
tional prosperity, 1t Is a source OF
satisfaction that this factor of uncer-
tainty Is now permanently eliminated
The political outlook. another we'll
worn element Of doubt. is steadily i'm
proving Radicalism IL being rebuk-
ed in all directions: issues have now
been clearly defined, and seem to de-
pend very largely upon personality.
The comparative lack of interest in
on in registration in all parts Of the
country compared with previous
years. 1t is taken for granted that
republicans will have to face consid-
cradle losses at the polls next No
vember. and there Is some probability
that the next congress may become
democratic. This fact, however APP
pears to cause little real uneasiness.
and the elections are certainly q
much less threatening element than
two or three months ago. It is also a
noticeable fact that public opinion is
becoming less hostile to corpora
tons; this being due partly to public
recognition OF the fact that corpora
lions are here to stay. and partly to
the fact that managers of the latter
recognize that the must submit to
some form of regulation, obey the
law and show a decent regard for
public opinion. The change in the
latter respect manifested In various
tending to disarm much OF public crit
icism. No one now seriously fears
the forthcoming supreme court decis-
ions on the oil, tobacco and other
cases. The decisions when issued will
probably have no further Injurious ef
feet than the famous Northern Secur-
tiles case. No harm but good follow
ed that decision. The prospects of the
railroads securing reasonable treat
ment from the interstate commerce
commission are daily increasing. So
that question is also nearing solution.
In this connection President McCrea's
address on behalf of the Pennsylvania
before the interstate commerce COM
mission was q striking feature. His
argument for better rates was tenn
perate, strong and based upon we'll
known facts. It will no doubt have
much weight with the commission and
do much towards securing reasonable
treatment for the railroads.
he ct o. hat
ter than expected; the stringency an
ticipated this fall having failed to
materialize. The surplus reserve Of
New York banks is now down to a
rather low level, but regular trade de-
mands are less than usual, and bank
ers are persistently discouraging I'M
due speculation. 1t is quitet possible
that firm spells may be experienced
between now and the first OF January.
but no crisis is anticipated. Perhaps
the worst feature in the situation IL
the excess OF loans over deposits OBJ
served in recent bank statements in
various parts of the country. This
is significant development and will
bear watching. Money is firm in
Which Will tCA0 " 0lDNOul 06O
gold exports to this country. Our
foreign trade, however, is assuming
more normal proportions and our ex-
ports of agricultural products espe-
cially are increasing noticeably. In
September they were. ahead of last
year, and it would cause no surprise
II in October they would also exceed
last year in value. Cotton shipments
have been rushed forward In anticipa-
ton Of a deadlock over the cotton bill
controversy. After October 81 Brit
ish bankers will discontinue guaran-
teeing cotton bills, unless some agree
ment is made with bankers on this
side OF course some settlement 10
inevitable; for Britain is just az much
in need of our cotton as We of her