Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1911-06-27
HENRY ClEWS IS
OPTIMISTIC ABOUT
SITUATION
Thinks Winter Wheat Crop
Sufficiently Heavy to Off.
set Considerable Damage to
Spring Harvest; Reports
May Be Exaggerated.

New ioIk Jnuc p The nnce.tain
movement ia iht market Tor Stock
,Nchahgo securities this week hay.
hc'h more OF less scasouahle Thae
l. To say. We have M last dennitol,
reached the stage wncrc our crops
are ~ the critical point: and the fn.
lure of The market IT, ~. Ia the pasf,
u II 10 u" determined hy the volume
'nd quality OF our Ia products. i,
distinctly ~ issue Therefore. a dis.
~sitiod has Develops among markc,
operators who have accumulated
l'o'iis 90 secure tn. ~ aud avoid iur.
her Immediate risk,
| II is worth while for ousrators tn
take a calm view oi The Agricultural,
conditions that now prevail In the
INST place, winter wheat has been tn.
" harvested ami In quality aud utan.
! iiN IL very clasc to u hamper harvest.
| II II does not. IN fact reach that dis.
i'lnc,ion Spring wheat ana corn have
reached their SENSITIVE poiut Of
growth. anj protracte dlolth has alr
ready done su!nr W,tontial damage
whita nav readily become. pcrnan.
an, IN tbs event al necessary rains be-.
| Ine much longer delayed There 1, Il
lack az reserve moisture II, the sDrina
wheat states. and from South Dnkoia
The best advicca indicate that conc
degree OF irrcparabio damage has al
ready been done. possibly reaching
~ pen cent oi that states nor nal
Yield Indications are ais1 ,roscnt
OF undesirable conditions on The bon.
drrlinc o North Dakota. aud also IN
Southwestern Minnesota Put IA
, North Dakota IA whole ana also
Mime sofa as . whole the cnndli Ions
are stu in u broad sense idpal nrl
, there remains sufficient lecwnS for
further depression N spring wheat
'oflitory as n whole without bringing
the prospects Town 10 the level OF
last wears harvest IN corn whichf
Of course. IL the most important Of
all Of our c.ops from inc stock mar
het viewpoint. The damage thus lar -
pro3peciivc rather than actual Roth
corn ana spr.ng wheat arc particular.
j. early this ycar--n factor 90 much
importance. since u means les dan.
ger from irosts ~ the tai'.cnd at the
season. Hay and oats are MOI NJ TO
the average, which viii mean sieni
'r demand for worn a. sUbsiitutc TO-,
these items as feed
rs general proposition yrni dam
age reports are usually CONGREGATIONS
and due allowance should be mnde for
this iac, II II worth while recalling
that Tho total spring wheat crop uf
south Dakota was last wear less than
5000 0oo bushels SO that II proscnt
Nroiic,!ons are confirmed. aud there
+ should he loss OF say. 80 per cont
cor 80 500. zoe hushelsl. II would mo-
! ne particularly disastrous matter
when We consider that condi ions
Otherwise ARE 20 favorable ana Thai
: NJ to'nl wheat harvest promiscs. nc.
Douliag 10 tn Inn, rrpnlt al ~, ~
7artnenI OF agriculture, to exceed
iji 400, 0O0 bushels
The prize. level of securities has
been steadily raiscd during the last
few months aud period ot rest -
natural and ne circunlsl ances Gu
March ~" average price OF twenty
usually active railroad securities war
llb ~. whiir today II Is ahOyc -
o. an advance Oi nparlN I points IN
many Oi IT, active speculative stock
The gala ha. necessaril, been nuch
larger To make his average and,
therefore. there has boon actit, IN
rouragemCn' 10 take profits. Further
more. 4 n worth recalling that We
are nov 90 he holiday season Nh'h
large operators ana MANY small ones
are going abroad az elsewhere for
recreation and dey0ting thomseiH's
Complpiely 10 holiday pursuits. This
In Itself ~ res ,opsibln inr quite a
aubstanddl amount of general liquida
ticu
bas'c conditions, however, have not
materially changed aud the reaction
that has taken place IN the market
seems 10 sug gesi merely temporary
recession 10 enable The upward move
mont To secure u better foothold Tor
a further advance later OIL. The
sliniu.atipr feature oi abundant non.
- remains unchecked. With me- inD,c
1lato prosper 81 change Ia TIL. Ill
reciion. should there he .sunicien,
demand for banking accommodations
either IN the stock market or IN ZEN
,lal trade or industry 10 apprcciab'y
slrengthcn interest rates. this demand
viii automatically slnr the movement
o. .alld from London to New York ne
cause Of The large balances ,hai Amer
lean bankers ere ~ present carving
IN the llchh0n market. II would be
gurprisiha " the month OF July should
pass this year wiihoni seeing an IN
ward movement of the precious metal