The Birmingham age-herald., 1911-12-03
PRICE OF SUGAR
 WILL SOON DROP American and Cuban Crop
 Very Good HELP. MONEY MARKET
Foreign Loaned Money Will Soon Return and Be Placed in D0- mestic Investment-Busi-
 ness Will Not Slump
nx PRESTON c. ADAMS


 doubtless will be good news to the house. wives of the United States to know that sugar soon should be at a price which will permit the use of two humps in q cup of coffee and warrant the average family to have a. dessert eevry day with d pound of candy occasionally for the children.
 American sugar crops, including the Cu- ban crop which goes largely into the United States market. will probably pro- duce this year total of 100000 ton Of sugar Conditions of crops throughout the United States and in our non-contig- uous possessions point to good yields un- der improvements in weather conditions. The grinding season in Louisiana and Texas is under full headway, in Calfor- mia it is about ended. In Louisiana cool CT weather has checked the growth de- sirably, and the fields are yielding heav- ily The subtle cane has been entirely worked up and the factories are starting on their plant cane. The yield in specified cases are from 116 to 157 pounds of 96 degree sugar test for each short ton of cane.
 Outside of Louisiana's product of prob ably 100000 short tons this year, the Por- to Rican crop is of interest. October there was particularly favorable for cane grow ing on account of moderates rains. The sugar return is certain to be high, and al- though the harvesting usually begins in January the campaign at several factories may be inaugurated full month in ad vance. Porto Rico should contribute 450.- 900 short tons under the favorable condl- tions for the latter half of the season.
 Our Philippine possessions whose har- vest begins in December, should this year produce 250,ooO tons, practically all of which Is export sugar. The Hawaiian Is- lands. whose campaign is now under way, may be counted upon to produce 5o0, 900 short tons The Hawaiian Islands, to- gether with the Philippines and Porto Rico. will produce 100000 tons.
 Beet sugar crops of the United States have just had a week of bad weather, somewhat with the progress of the campaign in the western states. Rains in California have put the ground in good position for fall blowing and seeding. The work of grinding the beets is turning out with good results in Michigan, and the supply is good everywhere through out the interior. Sugar content in Kan sas, Wisconsin and Michigan iss satisfac- tory. Increased acreage and enlarged fac tory capacity is being provided for next season in several states. as a result of improved prices. This years beet sugar crop should be 6O0.o0o tons.
 The principal banking firms which bring out new capital issues are prepar- ing for a greater measure of activity. Already the absorption of short term notes has quickened Bonds, too, are salable when the income yield is attractive and the safety reasonably assured The ex- pectations of a broader market are found- ed mainly upon the plethoric state of our money market and the certainty that funds will become even more plentiful within the next few months. Europe has overcome her nervousness. After the new year, if not before then. the huge sums lent by New York, Chicago anu other American cities to European bank CTS will be repaid, and the only. visible outlet for this money lies in the direction of investments. The railroads will no, hesitate to raise pretty large amounts. for no matter how stormy political agita- tlon may become the growth of the coun- try cannot be permanently restrained.
 All of the large railroad systems main- tain industrial and land departments for the encouragement of business along their lines, but not many have gone about the work of fostering agriculture in their territory in just the way the New Haven proposes to adopt.
 This company has taken an option on 36,O00 acres of farm and timber land In Maine, part of which will be used as an experimental farm by the Maine Central Later on the tract may be colonized, when the settlers will be told what products experiments have shown can be most profitably grown An ag- riCnttllral nl1h1ioa hoe chased and will be conducted for free distribution among farmers The New Haven has also erected a large ware house at its Harlem River terminal for the purpose of furnishing storage for farm products sent to this market. MT. Mellen appears to be applying to the New Haven methods which were fol- lowed on the Northern Pacific, of which he was president for several years.
 There is no occasion in my mind for any fear that the business of the coun- try will take a slump" said A. Brodus or Louisville, manager of a branch of the Louisville and Nashville railway The last statement of the Louisville and Nashville showed an increase in business over the corresponding period of last year, and all railroad men know that last year was good one in the railroad business look for first class season, and do not think the al- legged uncertSinty as to the result of elections will have any material effect on trade conditions"
 Four months ago a. mercantile firm raised $200,000 on commercial paner for six months, but so little need has it for borrowed money that it has pre- vailed upon the broker to repurchase the whole of 1t merely on the call money rate. This means that on paper. which he paid originally better than 4 per cent, he will receive for two months less than 2ls per cent. This is not an isolated transaction of the kind. Man. ufacturers and merchants never were less in debt than they are at this mo- ment. Commercial borrowers are of fered money at such low rates as lare now prevailing simply because they do not want it; were they in need for fa : cilitfes the charge would be raised. The position is suggestive of the very healthy boy who begrudged the delica- cies handed to but not enjoyed by his sick brother. He begged his mother to let him have a chance at the good things, but was told that when he was sick he could have them. But he walled, when we are sick we are not able to eat them" Were merchants healthier the attractive discounts would not be held before them.
 Even the effete customer must find that the following figures have made rent in the pessimistic garb in which he wraps himself they come from an able optimist. who first remarks that, though it covers only 5.9 per cent of the worlds area and has but 5.9 per cent of the worlds population. the Uni ted States produces: 76 per cent of the corn of the world: 70 per cent of the