Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1912-06-20

" d. dUAOE Hd4Ag ud4AdSGO III OO4s -oSN
year, the injury almost reaching the
proportions OF a harvest failure II
the present expectations are realized,
in these various haryests, the loss in
winter wheat will not be a matter Of
much concern. AS it is, the Washing
ton authorities estimating the aver
age promise" for all the country's
crops on June have placed II suus,afi-
tally on the level with June a year
ago. AS 10 the crops which are the
chief consideration before the inan-
cial community al this time, the i'm
pOrtant news of the week was mani
festly favorable.
In other respects, too, the develop
uents Of the week were not without
heir inspiration. The large decrease
extent explained by labor troubles,
hampering production and refining,
was nevertheless a notable exhibition.
On the contrary, the production in
crease all through the current year has
been astOnishiugly slow. and clearly
reflects some powerful regulatiye in
iiueuCes AT work. Il hardly seems
reasonable to expect this restraint TO
last much longer, but as the situation
low stands the copper surplus is down
70 minimum and consumers are glad
10 pay the high prices eXacted by the
selling agencies. The tendency is for
the copper companies 10 give their
shareholders some OF the benefits of
/ this prosperity: more than one Of the
| less conspicuous concerns announced
dividend increase during the week.
The copper shares on the stock eX-
change have. il is true, had a substan-
tai rise, and some of them have done
/ good deal toward discounting larger
/ dividend payments. But the point is
that the trade condition is, if anything,
growing stronger.
/ The steel reports are as encourag-
ing as they have beeu at any time this
! season, even if the huge volume of OPP
creations az the mills is not benefiting
prices TO the extent that could be de
sired. Railway earnings are making
no striking gains but they are holding
up well TO the volume of a year ago
The conclusion from their rec
ord as well as from the record OF
bank clearings must be that general
business is in satisfactory shape, that
il is better than it was at this time last
year, despite the restraint eXerted by
the presidential campaign. AT one
time during the week there was some
discussion of the money trust in
quiry" as a disturbing matter. Blu
the adjournment of the investigating
committee sine die put an end to what
ever cOnjectures stock market writer!
were indulging in as to a possible con
ncction between the inquiry and thu
dullness on the stock exchange.
, Reports from correspondents of tn,
. New York Commercial regarding tn,
d movement of trade vary in differen
sections, but the trend in general ia
vors the progress so far recorded thi
year. The tendency of merchants i
still toward conservatism. but til
outlook is generally regarded as brigh
for year of active trade. In section
Of the northwest, where the crops ar
promising, come reports of increase
distribution. From the south an
southwest the reports are of Ensati.
factory business, while in the cas-
trade hes been restricted somewha
| by preparations for the semi-annus
clearance sales by jobbers and Who'll,
saierS pending which retail buying
held up. Retailers have been dispose
TO keep stocks down. up to the pre-
ent, and the empty condition OF shelve
indicates that active buying will 500
be in order.
ReVerting to crops, beyond all come
the important fact that the cotton Gro
has made highly favorable progress
the right direction during the Wee
Oklahoma and Texas have receive
needed rains. and in the eastern bel
where complaints of too much moi
tuTe We're previously heard, the
has been general clearing up OF II
weather Although il is general
admitted that the crop, because of la
planting, Will be carried further tina
usual in the frost line. the cOncensl
OF opinion is that the yield will
large and perfectly ample for Il
worlds wants. The largest previot
crop to the present one was 13,SOO,O
commercial bales in 1908.
The 1905 yield was made upon ;
acreage of 33,37o.0O0 acres. and one
the usually reliable authorities h
just estimated the current acreage
Io2,>S5.0UU acres, a decrease of 7.6 p
cent from the revised figures of Ia
year This is surely a good ba.
upon which TO estimate a large harve
- A feature of the cotton situation tn
Is just now receiving much COusid,
q alton is the strength Of spot cote
n notwithstanding the great extent
& the last crop, there is really little des
q able cotton for sale. and this CO
4 mands a high price, thus showing h,
a thoroughly the high grades Of colt
. have been absorbed.
= The ultimate effect upon the inter-
"a and external trade Of the nation duri