The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1911-07-10
A BUSINESS REVIEW OF THE
PAST WEEK BY HENRY CLEWS

erage July condition during the last
ten years. In view of the Increased
area planted to cotton this year of APP
proximately 100000 acres it is evil
dent that, barring exceptionally unfa-
yorable climatic conditions from now
on. We are TO have the largest crop OF
cotton ever grown. When, furthermore
we consider the high prices for the sta
pie, ii is possible 10 appreciate the ire
mendous prosperity that the growing
crop means for the South, In the in
stance of corn. the fact that planting
was conducted under such exceptional
~ favorable circumstances and that
before the recent drouth and heat
(Which have within the last two days
been so greatly relieved by refreshing
rains) became effective the plant was
in such excellent condition. made the
situation, even at its worst. less dam
aging than would otherwise have been
the case. Without attempting TO mini
mize whatever damage has been done
and there undoubtedly has been con-
siderable in certain local sectious-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 of
possible damage by early frosts, 1t is
therefore, too early to become pessi
mistic in regard 10 agricultural condi-
tons. A large winter wheat crop is al
ready 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.
1t is evident that the next few
weeks must continue a period of ire
gularity in the stock market. We have
fully arrived at the period when re-
ports from the grain sections of the
country will prove day to day influen-
ces. When this period of transition
ends, however, we are not unlikely TO
have a still further advance in prices
of standard dividend paying stocks.
Money remains abundant and promis-
es to continue so, and there is no in
centive whatever to sell securities, as
ment or employment, such as the re-
| Quirements of trade and industry, do
not exist Excellent information from
Washington intimates that Congress
| will adjourn until the regular session
of December on or about August 10th.
and that whatever changes in the tar
| if are to be made before the next
| Presidential election will then have
been made. This means that trade and
industry will promptly begin TO pick
up SO soon as the new tariff conditions
under which business must be conduc
ted become known. But it is quite evi
dent at this writing that the strain OF
| financing the crops will have culmi
mated before the active demands fol
funds in mercantile pursuits become
insistent.
Any long-range view of the financial
situation, based on fundamental con
ditions, is therefore a favorable one
The immediate outlook is not quite as
encouraging. 1t suggests caution in the
selection of investments and at the
same time promises active fluctuations
that can readily be taken advantage
of by traders who keep we'll informed
on day to day developments that have
a bearing on the Stock Exchange price
level
HENRY CLEWS.