The Cairo bulletin., 1910-09-12
Special.
New York. Sept. 10. 1910.


A somewhat better undertone APP
pears to be developing in livestock
market, and this in spite of import-
ant uncertainties. Doubtless the ben
efitof the rest cure is at last making
itself felt. After period OF prolong-
ed liquidation and inactivity conf
dence has had some chance for re-
covery Weak spots have been well
eliminated, and wide observation
proves the situation 10 be much
sounder than at any time during the
last eight months. The most encour-
aging factor is continued good crop
weather. Corn, the pivotal crop, has
been making excellent progress, and
=, the outlook Is now for a bumper
yield, the only danger being that the
season is fully two weeks or more
/ late. Cotton also Is doing better, but
likewise has to contend against late
ness of tho season. Indications con-
(, tinue to point to money value In
crops about equal to tnat of last year,
or $500 100000 Wnen y is remem-
bered that this sum is greater than
| the capital stock of all the steam
railroads in the niUted States COM
bined the tremendous Importance of
good crops as an element in our ma
terial prosperity can be readily APP
preciated
The Money Situation.
| Uncertainty regarding the money
situation has practically disappeared
Last weeks bank statement was un.
| expectedly poor, but this was largely
| due to September disbursements. The
interior is, as uual, withdrawing its
balances for crop moving purposes,
and we are entering a period of firm
err rates. 1t is not beyond the range
of possibilities that some stringency
may occur and it remains to be seen
how some Of the country banks will
extricate themselves from the difficult.
ties into which they fell through aid
|
! No serious disturbance, however, Is
| anticipated in the money market this
fall, especially in view of the reaction
in business which necessarily dimish
es the demand for accommodation
Political Conditions.
Concerning political conditions, the
market is either becoming accepm
ed to shocks from this quarter OF
else 1t has pretty well discounted al
| such disturbances. Mr.. Roosevelt
Western trip is now over, and there
will be a suspension OF unsettlement
from that source. The Republican
losses in Vermont were anticipated
and had no effect The only uncer
| tainties still unmeasured are the rail
road rate cases before the Supreme
| Court AS for the rate problem J
lis premature to assume the outcome
of that will be unfavorable. In tn,
forst place it should be remembers
that the Interstate Commerce Com
mission is a judicial and not part
san body. 1t is bound to deal justice
equally to railroads, investors ant
shippers. Whatever the grievance
may be on either side, it is quite al
parent that the advance in wages re
Gently granted by the roads have in
posed very serious additional burden
upon earning capacity. Although
} traffic has been well sustained, cul
rent net earnings of nearly all tn
main lines are showing rather dis
quieting decrease. 1t is evident tina
unless traffic increases or rates ar
! increased, dividends must decreas
, ! with a consequent unsettlement in 81
curity values, Moreover, If the pro
its of the road are to be seriously in
pared mbany improvements nut b
, postponed, and the roads will b
obliged to curtail expenditures /