The Paducah evening sun. [volume] (Paducah, Ky.) 1906-1929, 1910-09-20
BUMPER CROPS
ARE EXPECTED
WILL PUT COUNTRY ON SOUND
BUSINESS BASIS.
Monetary Outlook shows Decidet
Observation-Disclosures Are
Democratic.
ONLY DISTURBING FEATURE

New YORK, Sept. 2O.-ln some re-
spects essential conditions are i'm
proving. Two weeks more and the
corn crop will be out of danger, so
that IL frost does not intervene, we
are practically sure OF bumper crop
of about 100000. 900 bushels,
bringing to the farmers over S1,5OO,-
900 900 OF new wealth. The import
ance of this factor not only in its re-
lation to the farmer. but TO the rail-
roads and to numerous important In
ldustries depending upon corn, can
hardly be overestimated. IL will do
much to replace the west upon
sound business basis. and must offset
many of the drawbacks arising from
recent OVERRIDING. The cotton crop
is also making satisfactory progress
though later in maturing and more
exposed to injury from frost than
| corn. All things considered, the har-
vest is turning out somewhat better
than anticipated While grand re-
suits measured in quantities are not
what was originally desired. still the
country has escaped disaster from
deficiency; and growers will be more
than compensated for any shortage
by the profitable prices which nearly
all farm products now command.
This country is peculiarly dependent
upon its harvests, and the fact that
these are about to be garnered with
very satisfactory financial results is
basis for much congratulation.
Monetary Outlook Improves.
In one other important respect
there has been decided Improvement,
and that Is in the monetary outlook.
There is no longer any fear OF a
money crisis this fall, as at one time
anticipated. BY means OF forced liq-
uidahon the bank at all the great
Icenters. especially New York. have
materially strengthened their resour-
ees. The lessened pressure for funds
for both business and speculative pur
poses has also removed the probahil-
lity OF any dangerous strain upon our
financial system. In the west. where
trouble was most feared, there has
been a very decided improvement and
bankers there are once more lending
with increased freedom and easier
rates. There win be no occasion for
the government TO aid the money
market this year; in reality. the sit
uation VIII be reversed, and the
banks are more likely 20 be called
upon to aid the government In the
marketing of a new loan. Nothing
more than usual fall stringency IS
now expected. Fortunately they
will be abundantly able to assist. The
lonly disturbing feature in the mon
etary outlook IL the deadlock be-
tween British and American banks
in regard to the financing OF cotton
bills OF lading. II the financing OF
the cotton crop we're to fall upon the
New York and southern banks some
Inconvenience II not serious difficulty
might ensue; but the probabilities
are that solution will be found be-
fore the time limit, October 81, ex-
pires.
Investment Situation Better.
The investment situation shows
|some betterment. Prices of many of
the best class dividend payers are ex-
|ceedngly low. Moreover, the cur
rent supply of securities has been
greatly curtailed and conditions are
not yet favorable for new issues. In
view of the extent to which unfavor-
able influences have been so largely
discounted. there is abundant room
for occasional rallies. No pronounced
change for the better is yet to be
looked for; on the other hand there
is a reaction from recent pessimism,
and discouragement IL giving way to
a calmer and more hopeful temper.
There Is a feeling that many OF our
troubles have been taken too seri-
ously; that exaggerated fears have
in some cases carried values below
their intrinsic merits. and that better
things are in sight, If not already at
hand. It IL quite possible that here
and there dividend reductions may
have to be faced, yet 1t would seem
as II the shrinkage which has taken
place within the last eight months
4. -. -. sf.ao...,toJ oil cuph DOgei-