Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1911-07-11

at present that there is no need OF
granting it any greater Importance
! as a market factor than at any time
during the last year or so. With
| civilization progressing so rapidly IN
favor of arbitration it will take much
more than the incidents already emu
merated to constitute adequate justifi'
cation If classification" for war can
ready past when any nation may de-
be acknowledged to exis>, which !
greatly doubt, for war. The day is a.
clare war without adequate couse.
REWRITING to the unsettlement
caused by the less favorable harvest
outlook, it will also be found advis-
able to view the actual conditions in
calm frame of mind. The chief
fear appears to center on corn. In
cidentally, it may be remembered that
there promises to be a rather close
race this year between king corn and
king cotton for the proud position of
being our premier product The
July report of the department of agri-
culture on Monday reported a condi-
ton of cotton of $50, which is 80
points higher than the average July
condition during the last ten years.
In view of the increased area planted
to cotton this year of approximately
| 500. 900 acres. it is evident, that, mar
ring exceptionally unfavorable eli
matte conditions from now on. we are
to have the largest crop of cotton ever
grown. When, furthermore, We con.
slider the high prices for the staple,
it is possible to appreciate the tre-
mendous prosperity that the growing
crop means for the South. In the in
stance of corn, the fact that planting
was conducted under such favorable
circumstances and that before the re-
cent drouth and heat (Which have
within the last two days been so great
ly relieved by refreshing rains). be.
came effective the plant was in such
excellent condition. made the situa-
ton. even at it's worst, less damaging
than would otherwise have been the
case. Without attempting to mini
mize whatever damage has been done
and there undoubtedly has been
considerable in certain local sections
it is worth while recalling that corn
is essentially hot weather plant, and,
granting proper preparation, warm,
dry weather means forcing of the
plant and the consequent removal &c
possible damage by early frosts. 1t
is. therefore, too early to become pes.
simistic in regard to agricultural con-
ditions. A large winter wheat crop
is already harvested. and consequently
is out of danger; and the weeks re.
ports from the spring wheat sections
have certainly not been unfavorable
even if they have not proven all that
! could be desired.
Some part of the weeks irregularity
may also be ascribed to the official
announcement by the Canadian Pacific
that there has been no actual basis
for the reports that the Canadian road
has acquired or been concerned in the
negotiations for a controlling interest
of the Erie. or for traffic arrange.
ment with the latter road. 1t is quite
evident, however. that there has been
during the last few months steady
absorption of Erie securities by in.
terests who have purchased with the
idea of holding them as investments.
An influence as an opposite nature
Paris in regard to it's attitude toward
American securities. 1t appears that
a better understanding of the condi-
tons surrounding the issue of Ameri.
can Telephone & Telegraph company
SlOCh Has UeoH created anu CdUleS
from responsible interests state that
the incident will no longer prove pre-.
judicial to the further listing of Ameri
can securities on the Paris Bourse
Practical demonstration that such is
the real situation is contained in news
that securities of another American
company have bee INTRODUCED on the
Eourse.
1t is evident that the next few weeks
must continue a period of irregularity
in the stock market We have fully
arrived at the period when reports
from the grain sections of the country
will prove day to day differences.
When this period of transition ends,
however, we are not unlikely to have
a still further advance in prices of