The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1910-10-24

IteCeut dCtNliy ihS s'so>h La
change has been in refreshing con-
trast with the stagnation OF the last
few months. The better undertOne
which was intimated in these advices
as early as September 10 has at last
crystallized into an active demand for
stocks at advancing prices. AS usual,
the initiative was assumed by power
full financial leaders who recognized
changed conditions, and each day the
buying movement widened with re-
sultant advance of several points in
all the leading shares.
The most important single element
of Improvement was the positive as
surance of bumper corn crop. The
value of a good harvest is much more
highly appreciated in the west than
here. AS result of the big corn
yield. our western farmers and mer-
chants have each put on a spirit of
renewed confidence. SO that already
the business outlook throughout the
great corn belt Is showing real i'm
provement. Pessimism, never SO deep
In the west as in the east. is now
rapidly disappearing; for the farmers
will be able to meet their obligations,
and land speculation has received a
wholesome quietus through the timely
efforts exerted by interior bankers.
Incoming advices from the west are
all of a much more favorable nature
than a few weeks ago. Corn Is lower
In price than last year. but this fact
will be offset by farmers feeding more
corn to cattle. As the latter are bring
Inc high prices. 1t will prove more
profitable to turn corn into meat than
into any other marketable product.
While western sentiment has been
influenced by the corn crop, eastern
opinion has been conspicuously affect
ed by political developments. These
lare clearly favorable. Republican
losses may be expected. 1t Is true, but
they are regarded with equanimity,
and even with gladness in some quart
ers as likely to impose check upon
abuses which are apt to creep In with
too long political innings. Local is
sues In this state are largely person
al. So far as national issues are con.
cerned. these appear to chiefly center
upon the tariff. President Taft's idea,
however, for a non-partisan commits
sion, aiming to deal with the tariff one
schedule at a time. has allayed much
of the anxiety in this quarter. Among
other favorable political indications
are the moderating of public hostility
to corporations; the belief that the
supreme court will not destroy proper
ty rights. and the expectation that
the railroads will secure reasonable
treatment In their request for advanc-
ed rates. All of these considerations
have combined to stimulate revival
OF confidence in security markets. A
somewhat better demand for bonds
has also recently developed. This is
partly an indication of increased con-
fidence. Is partly due to accumulation
of funds seeking investment and part.
lily to q realization of the fact that
bonds are really not endangered by
any probable action which the inter-
state commerce commission may take
on the rate situation. President Nc
Crea's thoroughly sound and temper
ate argument in favor of better rates
created a strong impression; not only
in investment circles, but also among
shippers who are fighting advances.
among political leaders at Washing.
ton and among the petty politicians
who have been ignorantly assuming
that clubbing the railroads was good
for vote-making. Everything now in
dicates that the railroad problem will
be solved along lines that recognize
rights of both railroads and shippers,