The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1911-06-27
CROP ESTIMATES
BEING MADE
Some Little Time Yet Before Any
thing Near Accurate Can Be Told
OF Conditions On the
Farm.
INFLUENCE TO BUSINESS
Business Is Not Far Below Normal and
There Seems to Be Plenty Of
Money In All Of the
Banks.
1Frank NJ. Illusions Weekly Finan.
/ cial letter.

ctal Letter.
CHICAGO, June 27.-Business cir.
cles are more or less disturbed by
persistent reports of crop damage
which are now being circulated for
market purposes. AS rule It requires
more than LaSalle street of Wall
fetreet crop estimate to seriously i'm
spair crop, but this year So much de-
spends upon the production from the
Esoil that sentiment is more easily
tswayed than in ordinary years Up
TO the beginning of the present month
crop conditions were most satisfactory
but since then there has been an alb
tence of moisture and a development
Of not weather IN many sections which
has been causing considerable anxiety
That the crops in the southwest have
suffered considerable damage in con-
sceded by conservative bankers here
but that the damage is anywhere near
as serious as the crop killers would
have US believe is positively denied.
In the northwest it was just at this
season year ago that the severe
damage manifested itself In the
Spring wheat crop. So far this year
weather and soil conditions have been
propitious and the promise of a big
yield has been an exceedingly en-
couraglng feature. In Iowa, despite
adverse crop reports. bankers who
ATTENDED the state conference within
the last week declare that conditions
are exceedingly satisfactory, that the
corn is from two TO three weeks ahead
of the ordinary year in growth and
that there is every reason to expect a
big Weld
Some little time will be required be-
Tore anything like an accurate esti-
mate OF crop conditions and prospec-
tive yield can be made Meantime
bankers and business men are trying
to figure out the possibilities for
trade revival this fall That the coun-
try is suffering from over-expansion is
conceded, but whether the liquidation
of the last few months has been suf-
fcient to turn the tide and stimulate
another period of business activity be-
fore final readjustment takes place
Is matter difficult to determine.
The banking position is not ex.
actly satisfactory There is PLENTY of
money. but this is due to the fact that
THE country has passed through
period of imitation, both of its bank
mote currency and of general bust
ness, with result that the loans were
Expanded to the highest level in the
Ehistory of the country. In the last
Ethree months there should have been
"a decided pulling down of loans. Sta
tistics compiled BY the comptrolIer of
Ethe currency, while far from complete.
indicate that the final figures NAV
Fshow some slight contraction. al.
though the results In many Of the
f1arger cities would seem to indicate
Eeome further expansion of loans. The
speculative markets have been very
Euuiet and for that reason large vol
June OF money usually active in fnanc-
ling the speculative market is now idle.
General business is rather quiet and
for that reason a large volume Of
money usually active in financing the
Speculative market is now idle. Cen
eral business is rather quiet on a nor
anal plane. hence the amount Of mon
ley required there is much less. These
two items contribute mainly to the
heavy surplus in the banks
1t should not be concluded because
of the talk of business quietness that
business is anywhere near stand
still. AS matter of fact, outside of
the steel industry and few other
dimes Of trade, business is not far be.
how normal. This accounts for the an.
parent conflicting statements and sta
tistical exhibits. Were business as
dull as many would have us believe
this would be more clearly reflected
in the volume of bank clearings at the
various centers.