The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-08-14
ARE IN FOR ERA
!. Of PROSPERITY
This the View Taken by the
KeeneSt Observers in the
Country.
HAS BEEN A DROP
IN PAPER VALUES OF u. S.
Crop Conditions Are the Best
Ever Reported, and Farmers
Are Buying Autos.
BY PRESTON q. ADAMS


BY Leased Wire to The Tribune,
NEW YORK Aug. 13.-H we are not
in for an era of prosperity, then some
OF the keenest observers are mistaken
and all signs Will have failed. II is true
that there has been a drop OF something
like billion and a half In stock values
In Wall street from the high point of
the year, but this loss has been OF paper
values and has affected only the specu-
lators and weak holders. who have been
shaken out. dividends and interest pay
meutS have been on an unprecedented
scale workmen are receiving higher
wages generally, and the farmers con-
tinue TO buy automa abtles despite the hor
: riiied protests of Wall street which hates
to see so much good money diverted 10
other channels The last steel trust
statement OF earnings is a pretty good
indication of business conditions, show
Ing. as they do. gratifying increase
in net earnings over last year.
Then. two well-known New York men
In close touch with large financial and
In the affairs of the country, have each
just returned from more or less eE-
tended trip 10 the west They are; 4.
Barton Hepburn president of the Chase
dent OF the New York Central railroad
lines Mr., Hepburn passed through elev-
en- states. but did not go beyond the Mis-
sissippi. Mr.. Browns trip of ten days
took him into the Dakotas and Nebraska
Both brought back words OF good cheer
Crop Conditions Good.
Mr.. Hepburn says: "ln my recent trip
west ] crossed eleven states. and. al
though not an expert, the crop conditions
seemed 10 be 10 be very good indeed
The oats and wheat was practically all
harvested, some in process Of threshing
and some being stacked but most Of II
Siill standing In stacks In the fields,
gid not go west OF the Mississippi, but
am inclined TO think that the crop dam
age, especially in the northwest, has been
largely overestimated.
"A committee of mllers, just returned
10 Minneapolis from tour of inspection
through Minnesota and the Dal5o,Ss. re-
ports that the money value OF the crops
OF Minnesota, South Dakota and the
coed that OF any previous crops Condi-
tions in the northern half Of North Da
kota are serious. and they estimate the
crop value as about one-third the aver
age. The price Of flax is $3.50 and the
flax crop will go far toward making up |
the loss upon wheat That the business
of the country n whole is in good con-
dtion and profitable, is evidenced by the
very large volume OF business. ! am very
optimistic TO general business condi-
tons"
Views of Mr. Brown.
Mr.. Brown said: 81 have not only
made rs close personal observation and
investigation as possible. but have em-
ployed reliable men OF good judgment 10
go through Minnesota and the two Dako-
tas and most OF Nebrask ska and Kansas
and report on conditions. From the Mis-
souri, river through 10 New York | have
made a personal examination and the
country looked like a garden all the way. |
One OF the best crops OF small grain as
TO the quality that | have ever seen, and
about normal to the quantity. has
been harvested and Is either in the stack
or being threshed out OF the shock and
the result Of every job OF threshing that
l sa" exceeded the expectation and es-
Inmates made before the harvest.
The corn from the western part OF
Nebraska right through to the Atlantic
seaboard is at or above the average at
this time OF year. In the extreme west
ern part Of Nebraska, on the edge of the
sasebrush plains, and In the western and
southwestern parts OF Kansas. there has
been some damage from hot weather and
lack OF moisture. but 10 this time | do
not believe the damage VIII amount TO
: per cent OF the corn crop OF the coun-
try n whole.
Should Forget Troubles.
Minnesota will raise about 50 per cent
Of Il small grain crop, and 60 per cent
OF normal hay crop. The corn Is ex-
ceptionally good. and with seasonable
rain from this time until ,nc first or
September will make better tnan a nor
NAL crop. The two Dakotas Will raise
60 per cent of a normal crop OF small
grain and better than n normal crop OF
corn Those are pretty eDcouragemcnts,
In the same line is a little story l heard
tho other day TWO or three western
buyers who have been operating In the
local market and who wrote worrying
letters home. received this wire from
their home house, You fellows cheer up
and forget your troubles. Taings might
be n good deal worse. We cleared wcst-
ern orders first; they run heavy to man
utactured goods; other orders going
through now, Some cancellations being
rcinstated either in whole In part.
Forget all worry way home. Well
still have turkey for Christmas,
Lively Tug Of War.
a lively tug-of- war Is going on among
our banking people over cotton bills OF
lading. Officers Of powerful state banks. !
declare that they will deprive the ma
tioDal banks OF all business In cotton
bills by acccdng 10 the demands OF for
ctgn bankers and furnishing bank guar
nntees' National banks cannot legally
issue such guarantees. and their COM
pctitors here say they will take advan-
lage Of that fact-trust companies and
court decisions In that regard. National
banks profess that there isn't enough
money In IT for them TO worry over
Gmuch, but they are worrying just the
same. When an official or q downtown
national bank asked If IL were pos
slhe for all houses dealing In cotton
bills TO establish a uniform system, he
said with emphasis:
what! The national bank To make
an agreement with other financial nstt- !
tutions! That would be criminal. We
would all be indicted for violation of the
Sherman antitrust law Under the fed |
eral law, an agreement In aid OF COM
NnTJNE PIDS WIFI 7r DIT