The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-06-25
Harvest Will Be Greatest Ever
known, Amounting to 765,-
100000 Bushels.
INCREASE OF EXPORTS
ALSO BOOSTS BUSINESS
Trade in All Branches Is Being
Stimulated by Prospects
OF Enormous Haryests.
BY PRESTON ADAMS.

by PRESTON ADAMS.
BY Leased Wire to The Tribune.
NEW YORK, June 24.-How is buHi-
ness?
The closing weeks Of the FIRST half OF
1911 find American fnanciers better sat-
ished with the outlook than they were
when the year began. and the best opinion
is that at the opening Of 1912 prosperity
will be more pronounced than 1t is today
or has been during the last eighteen
| months; The current year has brought
disappoin but II has also brought
encouragement. After twenty years COR
pcracons are at last learning how they
by the opening OF 1912 the legal method
OF conducting huge interstate Industrial
enterprises should be clearly defined and
sanctioned by the courts This is long
| step forward.
Agriculture. money. our trade balance
and politics-these fundamentals have
| done well during the first half of 1911.
The government and private reports
covering the cotton prospects show con-
elnsiyely that an unprecedentedly large
acreage has been planted and that the
early condition OF the staple Is very prom
! s!ng, hence the expectation Of a boun-
| teous crop Is justified.
Then the governments elaborate sta
tist1cs or the grain crops Issued last
week are also full OF encouragement. a
yield Of 4s0. 900 bushels OF winter
wheat IS foreshadowed,, while the un,
|
suggests the possibility Of a harvest OF
nearly 2s5.ooo. 900 bushels. making total
wheat harvest Of nearly 40. .ooo,ooo
| bushels or considerably greater than pro-
duced in any year heretofore:
| The American money market has been
entirely satisfactory from the business
| viewpoint.
Exports Increasing Fast.
| Our foreign trade balance at the end
| OF June should exceed $500 600, 600, thanks
| to exports of greater volume than ever
| before. Furthermore, the promised aoun-
| dance Of cotton and wheat shouio ena,pie
the second half OF the current year. and
| the quetness in domestic trace, COM
| hined with the lowering OF costs. tends to
stimulate exports Of general mercnandlse.
| Therefore, II NAV be connoentlY sald'
| business is all right.
| The congressional investigation OF the
steel trust has developed the starting
good deal Of influence in the financial
affairs OF the country.
a suspicion that this may have been
| the case has spread even beyond the con-
fines OF Wall street. but ii Is neverthe-
Iless gratifying and perhaps useful TO have
all doubts on the point cleared away
and the fact made OF public record.
Mr.. Morgan does have influence. great
| influence in fact dominating influence,
in al matters OF high finance In thS
country. 1t may be thai congress WI!
measure control this power and even
| Mir. Morgan would not be unhappy IL il
aid. For while It may be said that he
| Is q broad minded. patriotic man, VINO
honestly seeks 10 use his power wisely
and for the benefit of the country, II Is
| perfectly conceivable that some man may
be raised up with the comoinatlon OF
| brains and unlimited millions entirely
! without any artistic sentiment. who
would cndanger the very life OF the re-
! public.
This is a real contingency. which ohai-
lenees the best brains Of the country to
guard against.
Control of Trusts
Another fact OF very general Interest
! devcloped BY the congressional lnEcsp-
| cations is the fact that H. O. Bave-
meyer. for years the, head Of the s,o sugar u5m
! lrust, absolutely dominated that $40 OOO,-
! 900. though he owned only s2O0.Ooo OF
the stock. The question is being asked
arc in the hands OF men whose stock
I ownership is practically negligible.
! What effect is the dissolution Of the
Companies to have on the ownership Of
the subsidiary companies composing
them?
But it is doubtful II this would be cor
rect excep; for very limited time.
II was James j. HiIl who remarked that
q certain famous court decision meant
/ one green certificate in place OF one red
one, and that that would be the total
result OF the decree. The Slandaro Oi,
| and the American Tobacco companies viii
| have TO devise many colors in order 10
| comply with the recent supreme court
decisions. At first the owner OF the pres
ent share may simply deposit his col
| lection in his strongbox. where he Kept
| the original certiica tes, but when estates
come 10 be divided up some OF the
| heirs are likely 70 get certain colors and
others others. Gradually. too. II is eX-
pected there viii come about changes IN
the ownership of subsidiaries That.
| however. is a matter 81 the future.