The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1911-06-19
A BUSINESS REVIEW OF THE
PAST WEEK BY HENRY CLEWS

While some degree of irregularity
has resulted from disposition of for
tunate holders to realize profits. moth
ing of Importance has occurred this
week to change the favorable outlook
in the financial markets. The winter
wheat crop has proven "A particularly
early one, and is for all practical pur-
poses made" Reliable reports from
the leading spring wheat sections con-
though some damage by drouth and
heat has been reported in limited
area. 1t is always well to bear in
mind, however. that in view of the
tremendous acreage devoted to our
grains. local damage can be particular
ly severe and yet not adversely affect
the general result. In fact damage
reports so far as our newspapers are
concerned are news" but ideal con-
merely commonplace and attract no
attention. Interest now centers, so
far as harvest prospects are concern
ed upon the condition of corn, which
will be officially reported upon by the
Washington authorities early next
month. The best information avail
able from state and unofficial sources
ed to corn has been well exceeded,
which is natural in view of the high
prices that have been current for the
product The seed went into the
ground under particularly suspicious
conditions, and while some nervous
ness has since resulted from dry
weather. there is no reason to believe
that the result will be other than
highly favorable one. Cotton pros
BILE Interpretation.
Thus the crop situation which is the
fundamental factor in the stock mar
ket at the moment, is one OF excellent
promise; and the underlying firmness
in stock exchange values may be con-
sidered reflection of this important
feature. Next in Importance, as a
stimulating influence, may be men,
toned the continued abundance of
money and the promise. that months
will elapse before the demand for
funds will affect the situation ad-
versely. Tariff legislation, it now
seems certain, will not be radical, and
manufacturers by their increased &C
| tivities are already beginning to ev-
ince signs of relief. This is especial
ly true in the great iron and steel in
dustry, and in textile circles there is
also a better undertone apparent 1t
frr hi
provement to Spread to distributing
circles. We have been going through
a prolonged period of necessary mer-
camille and industrial contraction that
has so reduced supplies in consumers
hands that when business does begin
10 pick up the movement can hardly
/ fail to AT once assume active mo-
mentum. Railroads, for instance
have been forced to pursue a most
conservative policy in purchasing sup
/ plies for upkeep and repairs and have
practically done nothing in the way of
new expansion. This was largely the
result of their ina bility to secure CAPT
II tai on terms their managers believed
/ to be desirable. There has, however,
recently been a marked improvement
! in the investment demand for new Sc
icurities Our railroads are again able
TO secure the new capital they require
| on sufficiently favorable terms to jus
tify them in proceedings on normal
lines, and their purchases of steel
rails and construction material gen.
orally promise in the near future to
become a distinct stimulus in the
great metal industry
Even should the annual demand for