The Hattiesburg news., 1910-06-29


moderate recovery in values which
has taken place since then. Recent
developments have certainly been OF
a more encouraging nature, and while
the situation is not without its per-
plexities and drawbacks, still favora-
BILE factors prevail for the time being.
Chief among these is the crop outlook.
Some attempt to create alarm was
made by the professional crop-hllers,
who caused temporary furry in both
stock and wheat by the circulation Of
exaggerated damage reports; but the
latter met with prompt denial by more
reliable authorities, and exerted only
passing influence. 1t should be re-
membered that this is the season
when the crop-killer exercises his
most pernicious activities, and all
sensations of this character should be
guardedly accepted. There Is little
excuse for being carried away by
false alarms, because the Government
now publishes very elaborate weather
reports in the daily newspapers, and
the study of these would prove an i'm
portant check upon this insidious foe
of the farmer and business man alike.
AS a matter of fact the crop outlook
for the country at large is quite salts
factory and with the advent of higher
temperatures is improving daily.
Some damage has been done to spring
wheat, which early rains and in
creased acreage will probably offset;
but the outlook is for, a big corn crop,
also for large product of hay. Indi.
cations likewise favor a full cotton
crop. All of our best crop authorities
now consider agricultural conditions
much more encouraging than two
weeks ago.
Money Conditions.
Monetary conditions are exception
ally favorable both here and abroad.
AS many stocks are paying per cent
at present prices and bonds per cent,
it follows that money is better invest
ed in these than in time or call loans.
The condition of the local banks is
being steadily strengthened by in
creasing reserves, and a contraction
in loans. The monetary situation
abroad is also specially favorable, as
funds are accommodating and interest
rates declining. At the West there
has been an improvement in the bank
ing situation. Leading bankers there
have been pursuing a policy of re-
trenchment, and while the situation in
this district has not yet entirely
cleared up there is greater confidence
than a month ago July disburse-
ments were estimated at over $780,
900, 900, or more, than s1S,000,000 in
excess of a year ago. This, too, was
a factor of some Importance in the
investment market. Very shortly
Congress will adjourn, relieving both
business men and financiers of good
deal of anxiety. President Taft Is
closing the second Congressional ses-
sion of his term with much greater
credit than at one time expected. In
the President some time
ago referred to the new tariff as "the
best ever" an opinion not shared by
many of his friends. What he no
doubt really meant was that the new
tariff was the best that could be Sc
cured at that time. The temporary
and limited loss of popularity pro-
iuced by this misconception has al
ready been more than recovered by
he Presidents recent legislative sue
,esses. The passage of the tariff bill,
he railroad bill and the postal savings
,ill, not to speak of minor measures,
,an all be traced to Mr.. Taft's ability,
act and perseverance, and have ad-
led immensely to his political
trength.
Foreign Trade.
One of the best elements OF the sit
ation is the changed tendency in our
oreign trade. The country is grad
ally getting down to an export basis,
a more normal interna-
ional commerce than has been ex-
erienced for many months. With
quidation and decline in commodi-
les, which should tend to still fur
ner lower the cost Of living, the prob
bilities are that our imports will con-
act while exports expand; thus per-
hitting larger influx of gold next
Ill if that be necessary to Offset any
should it come. Europe ia
king a more kindly interest in our
nancial undertakings, and seems
Ute ready to participate moderately |