The Paducah evening sun. [volume] (Paducah, Ky.) 1906-1929, 1910-06-27
INDICATIONS POINT TO BIG
YIELDS OF ALL PRODUCTS.
General Conditions In Commercial
Circles Are Most Sound, Says
Henry Clcws.
IBIG JULY DISBURSEMENTS.

z firmed by a moderate recovery In
. values which has taken place since
then. Recent developments have
certainly been OF a more encouraging
4 nature. Chief among these Is the
/ crop outlook. Some attempt TO ere
4 ate alarm was made by the profess
| sional crop killers, who caused a tenn
porary furry in both stock and wheat
: by circulation of exaggerated dam
iage reports: but the latter met with
prompt denial by more reliable au-
liberties, and exerted only a passing
Influence. 1t should be remembered
That this Is the sca-On when the
lcrop-killcr exercises his most pernic-
lous activities, and all sensations OF
this character should be guardedly
accepted. A a matter Of fact the
lcrop outlook for the country at large
Is quite satisfactory. aud with the
advent OF higher temperatures IS i'm
proving daily. Some damage has
been done to spring wheat, which
early rains and increased acreage
will probably Offset; but the outlook
Is for a big corn crop. also for a
large product OF hay. Indications
likewise favor a full cotton crop. All
OF our best crop authorities now con
sider agricultural conditions much
more encouraging than two weeks
ago.
| Monetary conditions are eXcep-
tionably favorable both here and
abroad. As many stocks are paying
6 per cent at present prices and
bonds per cent. Il follows that mon
ley Is better Invested In these than IN
time or call loans. The condition Of
the local banks Is being steadily
strengthened by increasing reserves.
and a contraction In loans The mon
letary situation abroad is also spe-
cially favorable. as funds are accum-
ulating and interest rates declining.
Al the west there has been an inn
provomcnt IN the banking situation.
Leading bankers there have been pur
suing a policy OF rctrenchmcnt. and
while the situation In that district
has not set entirely cleared up, there
Is greater confidence than month
ago. July disbursements were est
MATED at over 5000. 600 900, or moro
than stS.OO0. 600 in excess OF a year
lago This. too, was a factor OF some
importance In the investment mar
ket. Congress has adjourned reliey-
ing both business and financiers OF a
good deal Of anxiety. President Taft
CLOSED the second congressional ses-
sion OF his term with much greater
credit than at one time expected.
The passage OF the tariff bill. the
railroad bill and the postal savings
bill. not to speak OF minor measures.
can all be traced to Mr., Tatt's ability,
tact aud perseverance. and have add
cd immensely to his political strength
One OF the best elements OF the
situation Is the changed tendency in
our foreign trade. The country Is
gradually getting down to an export
basis. permitting a more normal in
ltornational commerce than has been
Experienced for many months. With
a liquidation and decline in cOmmO-
dities. which should tend to still fur
Their lower the cost Of living. the
probabilities are that our imports
will contract while exports expand
thus permitting a larger influx Of
gold next fall IL that be necessary to-
Offset any stringoncy should Il come.
Europe IS taking a more kindly inter
est IN our financial undertakings.
and seems quite ready to participate
moderately IN the better class Of
American issues. Other stimulating
Influences which can be cited are the
settlement Of the railroad question
Through passage of President Taft's
bin; the probability that the rail-
roads will later on secure a reason
able advance in rates From many
points OF view It Is satisfactory to
note that the tendency of commodi-
ties Is downwards TO a more normal
level; yet on the other hand II must
be remembered that lower prices for
agricultural products mean smaller
profits for farmers The latter have
had number of very fat years and
can well afford one or two lean ones,
except whore they have been tempted
into extravaganza and undue specu-
.lation. The treasury situation Is ono
that Is causing some concern on the
part of government officials. and be-
fore long a bond issue must be re-
sorted to. This, Of course, means |
that In case Of money strlngency |
next fall but little assistance can be
expected from the government. Many !
of these facts are well understood In |
financial circles. and their effect has
already been pretty well discounted. !
Upon the whole the influences pro |
and con in the market are fairly !
well balanced, and the differences of |
opinion between the buyers and /
sellers are sufficiently pronounced to |
provide a basis for fair trading ac-
tivity. After the decline of the last
six months no very serious break
IL.