The Cairo bulletin., 1910-08-08

New York, Aug 6.-For several
weeks to come the crops wwil be the
controlling factor in both business
and financial circles. At present tne
outlook is not eminenJly satisfact-
DRY. The country needed, more than
anything else, bumper crops. Only
one crop promises to reach eXpecta-
tons, and that is CON. The condi-
ton of cotton is exceedingly low, and
ths present outlook suggests not more
than 100000 bales. which is media
quate for the worlds requirements,
considering last years shortage. The
output of wheat seems to be better
than at one time anticipated, but at
best nothing more than a full aver
age crop can be counted upon Ac-
cOrding to present indications the
farm value of our cereal crops, based
upon the latest Government estimate
should be about $4,000, 100000 This
is slightly in excess of he actual farm
values reached last year, and is due
almost entirely to the promising out
look for corn, he only important crop
promising a record yield.
Crops Look Dull.
There is much encouragement in
the fact tina his all7imporant crop
looks SO well. Roughly speaking, it
amounts to about one-quarter Of our
total agricultural products, and ent-
ers Sc many departments of cons
merce and industry that it is by far
the most important single element in
our national prosperity. Should we
raise 3.000,00O000 bushel crop,
worth about 2,000,0O0,000 to the far
mers, this will do much toward check
ing any serious business reaction.
On the other hand, even partial fall
ure OF the corn crop might invite
serious consequences. Another four
to six weeks must elapse before corn
Is fully made. Fortunately. the lat
est reports are very favorable for a
big yield Wheat, too, has been show
ing marked recuperatve powers from
previous damage. All things consii-
cred, the crop outlook is mixed and
might be better; but still contains
some features of positive encourage
ment.
Political Agitation.
Another element of uncertainty is
the political situation. Recent events
at the West emphasize political dis
content and indicate Democratic
gains in the election next Novemer,
Advices from washington also sug-
gest the probability OF considerable
agitation in the early future. Tie
business outlook is tndt altogether
satisfactory II is now generally
recognized that the country has al
ready entered a period OF reaction
retrenchment and REIMBURSEMENT No
thing severe in this direction is eX-
pected, but it is generally recognized
that the pace has been too fast and
| that period of slowing-down is i'm
| perative. Conditions in the iroI
| u utht, w HAtli 10 uohuliN CpihoIhNiS ~
| our best trade barometer, confirm
these views. Production of pig iron
is running at the rate OF abuot 26,
| 100000 ton annually, which is 20 pei
cent below maximum of the year
Prices of iron products show de
clining tendency. The copper situa
tion continues perplexing; supplies
are increasing to an embarrassing ex
tent, and there seems to be no wa,
Of restraining the output except b,
reducing prices to a level that WI
force shutdown of the weaker con
fcems,
Cost OF Raw Materials.
/ The textile trades are experiencin
slight Improvement, but are still
embarrassed by the high cost of ray
/ material, and many mills are idlt
Business failures are increasing: TN
total number reported year ago il
July being LAT, against 1.105 yea