The Cairo bulletin., 1910-07-18

New York, July 16.-iWe are now
entering what is usually the dull sea
son in the stock market owing to the
vacation period, and disposition to
await more definite prospects con
corning growing crops. The situa,
ton of the latter is more favorable
than has been generally represented.
Warm weather and beneficial rains
during the past week have material
ly benefited both wheat and corn.
The shrinkage in spring wheat, es-
timated about 90000,000 bushels, was,
of course, an unpleasanI factor
Thanks to the larger acreage or
winter wheat and generally fair con
ditions this loss may be partly recov-
cred. Something of vastly more inn
po. lance is the prospect for corn,
which is very encouraging, the out
look being for a record breaking
cropof 3,200,000,000 bushels or over.
Since the money value OF the corn
CROP Is between two and three times
that Of wheat, the importance of a
big yield of corn can easily be under
stood. Last year our corn crop of
2,272, 900 bushels was valued at
81 SOB 100000 Our wheat crop OF
737000,G00 bushels was valued at
$3.50, 900 goo, while our cotton crop o.
little more than 100000 bales
was valued at $500 $1,000; an I'M
usually high figure. It will thus be
seen that corn is worth more than
the other two crops combined, and
twice as much as either one of them,
A big corn crop there fore, such as
is now promised, affords a most i'm
pcrtant basis Of encouragement. 1t
should cheaper meat products, and
give the railroads a large freight traf-
fic. But the crop mas still several
weeks to run and is always exposed
to danger from early frost. More
over August is usually a month OF
deterioration for the majority oil
chops. SO that while damage reports
have ben exaggerated, there is no
reason for INDUCING in any undue
optimism. Some disappointment will
be felt at our failure to raise other
large crops, because the country real
| " needed a big surplus. not only tC
facilitate lower prices at home, bu
! also to afford ne desired stimulus tC
exports. During the coming year We
| may ship comparatively little wheat
| to Europe, but a liberal increase can
I be anticipated in exports of cotton
! The wheat crop outlook has improved
! lac to recent rains, Our crop yields
| are now pretty sure to reach in value
| $4,000, 100000 and $9,0O0,000 ,00o I
(, SO, continued prosperity for the com
ling year will be assured, and in thc
event of no foreign complications tax
| country will be safe and the goo,
dividend paying stocks will advance
FROM the present low level.
| Money Easy.
| Ing ltOhCS ottudN1oi 10 ltdilS W.
tertnan at one time anticipated al
| though we are approaching perio'
when firmer rates must be expecte
| owing to crop requirements. The POI
! icy of retrenchment adopted by man.
Of the banks, especially in the inter
or, is having a beneficial effect Re
ports of national banks for the las
quarter show many of the best in
situations have been able to strength
en- their reserves compared with tn
previous report of March 20. The i'm
| provement in bank reserves, however
mas been chiefly in the east and cen
trail west, Many of the southern an
southwestern institutions will shoy
decline in reserve strength. In thes
sections no doubt further liquidation
will be in order; but the pressur
imposed by interior BANKERS. unwe
come as it may have been, will inevi
ably result in strengthening the cret
it situation There is still more o
less apprehension of a none
squeeze Uncertain sections of the II
terror. though the increased workiu
power of money arising from lowe
prices and dull trade vii undoubtedl