The Birmingham age-herald., 1911-06-04
PROSPERITY RESTS ON COUNTRIES CROP Excellent Forecast for Busi-
 ness Future CONDITIONS ARE GOOD Important Banking Position Must Soon Be Filled-Old Timers of
 the Standard Oil Are
 Dying Out.
CONDITIONS ARE GOOD
nx PRESTON c ADAMS

|
 formation concerning the condition of the crops is mighty good foundation upon which to build forecast of the business future.
 With this prelude it may be permitted to print statement which comes from a big manufacturing concern in the middle west whose agents and salesmen cover the entire company and are in a
 particularly favorable position to get accurate information concerning the crops The statement says:
 "The dominant note seems to be that while both soil and growing crop con | ditions, as a rule, are excellent, the principle matter now to watch is rain fall throughout the west, northwest, the central west, as upon the amount which we receive in these sections between now and July 1 will depend the outcome of the crops: apparently there is no sur | plus moisture in the soil in the sec tions mentioned, nor in the Southeast ern Atlantic states.
 1 Generally good condition, growing crops and soil. Western half of Okla homa still too dry. and while suffi- cient moisture for present needs in east ern Colorado, western Kansas. western Nebraska, eastern Wyoming. Idaho and Montana, all of both Dakotas, northern Minnesota, northern Wisconsin, yet re- ports show subsoil in these sections very dry, hence need seasonable rains from now to insure crops.
 Corn not all planted, but general in- 1 crease to 10 per cent in acreage indi- cated; plant so far in good condition. Cotton mostly planted, with about five | per cent increase in acreage Growth | of cotton plant retarded east of Ale ghanies by dry. cool weather; west of same to Mississippi river by cool wet weather; particularly fine west of the Mississippi river; no mention of boil | weevil.
 Winter wheat promises as large crop under favorable conditions as ever har- vested; about five per cent increase in acreage Spring wheat in good shape; about ten per cent increase in acreage.
 Large increase in oats acreage, but condition badly spotted.
 Large increase in flax acreage in | northwest.
 | All secondary crops show increase in l acreage; generally good condition. | Large increase in acreage of alfalfa, kaffir corn and all forage crops in south west.
 Fruit crop promise, largest for years. particularly apples and berries. Peaches | hurt severely in certain sections, but still good crop. Citrus fruit damaged to I Florida peninsula.
 Coal mining improving; all other
 mining quiet
 Live stock shows Improvement over last year .e
 | Lumber interests quiet ~ n Sufficient water in irrigation districts
 in west rsw One of the most important banking positions in the United States must shortly be filled and already the pos sible candidates are being considered
 The office Is that of special examiner for the enlarged New York clearing house No other man in the country will be placed in possession of so full information concerning the financial operations of New York city. It will be his duty to ascertain the exact status of every bank and trust com pany in the organization. From him nothing will be held
 | He will be clothed with unlimited powers in regard to Investigating bank ing accounts and transactions. The knowledge he will thus gain would be worth purchasing at almost any price | It Is essential, therefore, that the gov ernors of the clearing house make the most rigid stipulations as to the con duct of this official during his term of office and after he may resign To secure the right kind of man a very large salary will be necessary not less than s25.000 per annum, in all | probability To have the duties per formed thoroughly and impartially would be worth four times that sum to New York It is said that no local banker will be chosen for reasons that need not be specified.
 | Second only in importance to the ad misison of trust companies to clearing house membership is the agreement to appoint a special examiner with an ade- ouate staff It Is even said that the | financial powers were as anxious to in | troduce this innovation as they were | to enroll the trust companies. | Without casting the slightest asper- | sion on the state banking department 1t cannot be said that it's periodic exam nations inspire full confidence now that
 the trust company business has reached such a magnitude and has become sc extremely diversified in character When merely trust funds were handled the publics interest in these inst1tu- tions were not very great, put todaS the New York trust companies are tt
 be found engaging in all sorts of oper-
 ations. from the promoting Of holes | in the ground" as mines to the collect ing of interest on the government bonds
 of widows and orphans. The national | banks want to have proper check upon questionable doings and 1t is be lieved that the new arrangement wii prove a valuable step in the right di-
 rection.
 One by one the old timers of the Standard oil are receiving their final summons. and the younger generation have not yet dem onstrated their ability to successfully fill the gaps Seven prominent Standard oil men have died within the last few years
 so that today only a few of those who
 were associated with John D. Rockefeller in the early stages of his career reniadn at the helm. Daniel O'Day was among the first to go, H. Il. Rogers, often de scribed as ''the brains of Standard oil, died under lanentabie circumstances: ir financial circles 1t was well known that
 this rugged financier lost heart over the
 events of 1907. w. P. Howe, W. H
 Tilford, r. c. Barstow and Phillip Ru
 precht have all passed away. while this
 week James Smith, head of the manufac lturing committee of the Standard or
 company, died suddenly at. the age of 5S How far overwork has been responsible
 for the mortality among Standard Oi
 officials cannot be gauged, but those bes
 acquainted with the facts believe that tn, strain involved has been a factor In cut
 ting short the lives of more than one O
 those here enumerated. W Who will be the successors of the Stand ard oil leaders removed by death and O the septuagenarians and octogenarian. whose active labors are nearing an end Young John D. Rockefeller has no tast' for business. but desires to devote his lif'
 to the philapthropic schemes evolved b, '--