The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1910-08-01

wise lost ground to some extent.
Both of these crops are stu in dang.
er of early frosts. and disaster to
either would, under present condi-
tons, have a very serious effect up
on business, The country was mr.
gently in need Of a large cotton crop,
but tne outlook now for a 1900 coo
bale yield, which Isl below normal
and means continued high prices for
cotton. The effect of this upon do
nestle industry and upon ouN ex-
port trade must be taken into con-
sideration. Our main hope regarding
the crops still centers upon corn.
Should this prove bumper yield it
will do much towards offsetting any
loss in wheat and cotton. The re.
suit, however, will be to leave the
| agricultural situation spotty. Some
OF our farmers will ENJOY another
season Of exceptional profits, while
others must endure serious loss.
General Business Conditions.
The business outlook Is mixed;
both bright AMI doubtful in spots. A
very conservative disposition exists
among those who lead in both com.
mercial and industrial affairs. Re-
action had begun with varying force
in different industries. Values had
been declining. and it is generally
recognized that industrial interests
Of the country must face some re-
adjustment This process is unpleas-
ant while 1t continues, but will in the
end leave both commerce and indus.
try upon sounder and stronger ba
sis. The reaction which began I'M
stocks must extend more or lsss into
other divisions Of business. In all
probability the stock market has
fully discounted any industrial depras-
lsion, This is so regarding the rail-
Dads at least, for the latter having
garious resources, always suffer less
n business depression than individual
Industries. Moreover, the railroads
are confidently looking forward to
permission from the Interstate Com
nissioneis to advance freight rates
later on.
Politics.
AS for the poi teal outlook, that liz
still unsettled, The fall campaign is
Just beginning and may develop dis
turhing Influences. AT the same time
both Government officials and local
politicians are beginning to learn
that blind attacks upon capital are
quite likely to iniure their own pros
0ects as well as those of their party
There has been decided toning
Town of hostility toward corporations,
which betokens more rational treat
nent of the latter in the future.
Profit Taking In Order.
The market has now had a sharp
rally and on any further advance the
.aking of profits would be in order.
The big hankink interests are snow
ing more confidence in the future
and seem willing TO express their be-
ief in the general soundness of the
present financial situation, though
not inclined to support any prolonged
bull movement, In such quarters
the present situat on as to the bust
ness and crop outlook Is well under
stood, and no disposition is shown to
| finance any great stock market act
witty until the monetary and political
outlook is clarified So far as Wall
Street is concerned the outlook has
improved, and the indications point
to much better market. Securities
bought on the conservative lines are
| likely to prove profitable investments.
Stocks have suffered shrinkage Of
nearly 2,000,000,000 during the past
six months and are fairly entitled to
a substantial recovery
HENRY CLEWS.