The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1910-06-11
CONDITIONS BETTER,
HYSTERIA ABATING
Crop Prospects, Low Prices
for Stocks, and Railroad
Situation Promising.
(FrOm Henry Clews' weekly Lottery


Perhaps the brightest development OF
the week was the Government crop re-
port; the advices as 20 spring wheat
being better than expected The indi-
cations now are for a total wheat crop
Of 100000 600 bushels. against a harvest
last year of 81. OOO.O 600 bushels. This
suggests a shrinkage of about 5000. 900
bushels as a result Of poorer condition
than a year ago An cat crop of 1.O21.-
900 bushels is indicated. or about
100000 bushels in excess of last year,
while the outlook for barley is for a
crop Of 100000 bushels. or about S.0O0.
900 bushels in excess Of last year. There
IS also a probability of a big hay crop.
although no returns for this product
have thus fer been furnished. For
cotton. the outlook is about 1900. 900
bales. or fully 100000 more than last
year. In all parts of the country there
has been a larger acreage titled. and
conditions are such as TO induce farm
eTs everywhere TO raise the very largest
product per acre possible. This means
that the country will be favored with
abundance in quantity; and that farm
erS. though receiving lower prices than
q year ago. Will nevertheless obtain lib
eral mex results High prices for meats
may continue for a periOd. since more
time IS required for increasing supplies;
but II Is known that consumption OF
meats has been materially checked. and
very considerable increase, in the supply
Of hogs will occur this YEAR. which is
already affecting the price OF such
products
Liquidation Beneficial.
The liquidation which has recently
taken place in grain and cotton is bene-
hciaI in more ways than one II Will
tend to lower the cost Of living; put an
end TO dangerous speculation. and facili-
tate more normal conditions in our for
eign trade.
Already imports are declining and ex-
ports increasing as the result OF lower
prices: and the drift Of our foreign
trade. which has so long been abnormal
and unfavorable. is returning 70 the
normal Nor is there any likelihood Of
an early return 10 recent conditions.
Europe also IS being favored with large
crops. which viii tend TO keep down
fOCI prices abroad, and prevent injuri-
Gus upward manipulation in American
mari cts. One OF the worst features for
some time past has been the position of
our foreign commerce; a situation
which impressed Europe much more un-
favOrably thar il SiG ourselves. For a
long period European bankers viewed
the tendencies here with uneasiuesS, and
our credit abroad was undoubtedly i'm
paired by our inability 20 pay for i'm
ports with merchant rather than
gold. The change in tendencies which
is now taking place is fundamental and
Strengthening. As soon as Europe sees
that we are in a position 10 retain our
gold ana ship produce instead. oIIr
credit abroad VIII rise and the effect
must be beneficial to ourselves. Should
we require gold next autumn as Is
probable, we viii have no difficulty in
draW1ng the same The GREAT r-,rrcy,o.,,
banks have all been accumulatirr a
supply OF the precious metal and indica-
uOns are that we wiz be able TO build
up our gold reserve curing the coming
Stocks Low.
Security values are now exceedingly
low; many stocks are selling on a