Bisbee daily review., 1910-07-22
CROP REPORT
NOW WAITED
BY INDUSTRY
No Change for Better or Worse
Is Noted or Expected While
the Farms Are Proving the
Output
Boston Commercially

There has been no marked change
for either the better or the worse in
genera. trade. The adjournment Il
congress has not stimulated industry
and the same uncertainty over the
future prevails. Attention is Of course
centered on the crops. the outlook for
which is that the corn crop viii be of
record proportions while the wheat
crop will be less than last year. Esd
mates Of the latter. however, are based
on the surmise that there will be no
improvement in condition which IS Of
course problematica1 at this season O:
abe year.
A large corn crop would have a
great effect on the price Of livestock
and would bring the cost of meat down
very materially and with a resumption
of exports of grain our foreign trade
balance would be righted. In this dir
eetion at least the outlook is very pro
missing. A large corn crop would al
so make business fer the railroads
which, if they are in physical condi-
ton TO handle il. would profit hand
somely
The statistics OF commercial failures
for the first SIX months o. the year
show that they were larger both in
number and amount Of Liabilities than
in any previous year except 1908. The
encouraging feature OF the showing is
that failure during the second quarter
were less than those of the first quart
er both in number and amount Of LA
bilities so that conditions in this re-
-spect are improving.
Al the same time business will not
feel ike going ahead TO any great ex
tent until the supreme court clears up
the uncertainty regarding several Of
the existing laws and shows just what
is and what is not legal Practices
which have been common and counte-
naneed for years are under certain
constructions of existing laws illegs
AMI until the line is drawn between tn
right and wrong. business will hesitate.
II is no longer open to question that
the spring wheat crop has been seri-
ously damaged and the poine at issue
is the extent OF the impairment. In
the winter wheat country conditions
are reversed, reports showing that
bumper crop is being harvested.
Official reports from Kansas aud
Oklahoma and hundreds of unofficial
reports from all parts Of the winter
wheat belt show that the crop is
large and fine one Good rains over
the greater part OF the corn belt
along with mild temperatures general
~ have been very favorable for the
progress o. that crop.
The summer season is almost inveri-
ably duh in the iron and steel trade.
Many plans are closed for repairs or
inventory and the market Is compare,
lively quiet. Wire shows considerable
activity. New business in both wire
and wire nails reached the mills in
considerable volume in the closing
days Of June and the first few days
of July.
Steel bars show no falling off in
tonnage and the actual product now
engaged cannot be got through Ia
mills before Oct Is. Plate mills are
surprising the trade with prepare
tons for an early resumption. About
the only steel lines that viii take
the fun three weeks vacation are the
crude steel mills the rail mills and
the merchant pipe plants. Structural
contracts make a good showing.
Producers are firm in their refusal
20 shade prices on bessemer and basic
iron so that consumers have put ont a
few tentative inquiries for contracts
for Il months ahead from July l. This
is an uncommon distance ahead in
which TO sell iron but with the new
capacity in sight and the desire Of
some consumers TO insure themselves
against q possible recurrence Of last
falls famine in prompt pig metal il
Is not unlikely that some contracts
will be closed on a II month basis
In fact several producers have been
figuring on one 10000 ton order on
this basis.
The universal expect atoms in the
iron and steel trade is that there will
be a marked Improvement in the ton
mage of business after the summer
dulness with possibly an improvement
in prices. The actual rate Of iron ane
steel consumption is known 70 be verl
Isrdg, and undoubtedly much larger
than at any priod tint this year. TO
production in the past three months
has been larger than the average o
any previous year, yet it is well know
that stocks accumulated in the winte
have been drawn upon very largely