Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1912-08-13
ARE The
Main CENTER
Biz Increase in Business IS
the Outlook According
TO Authorities
BY Henry Clews.

NEW lOlNN, AUG. lo.-SrOpS are
| now of vastly more Importance than
politics. Each week strengthens the
outlook for a larger and profitable
harvest. Wheat is turning out much
better than expected, the estimates
of yield varying from 700,0OO,OO0 to
75,0OO,0O0 bushels. II the latter re-
suits are obtained the crop will ex-
coed the previous high record of 1885,
| 100000 bushels in 1905. For corn the
| outlook Is at least $500, 009,0 900
bushels, and some estimates predict
that the crop of 1910, which amounts
to 2,8S6, 900 will be surpassed.
Corn however, is somewhat late and
still in danger of early frost so that
| Over-confidence in this respect Is
somewhat premature. AS for cotton,
the latest advices suggest yield OF
about $4,000, 900 bales. This will COM
pare with 16.vO0,OOO bales last year
and 1857 900 bales in 1904, the Sec
ond largest crop. In addition we have
big crops Of oats, hay, apples and
fruits generally. As already stated
the agricultural products of the coun-
try this year will probably reach &c.
900 1000, 900. or fully $500, 100000 more
than a year ago. No better founda-
ton for continued prosperity could be
desired.
Activity In Business.
General business shows a tendency
towards increased activity. This is
particularly true in the Northwest.
Dry goods jobers are purchasing more
freely in anticipation of agricultural
prosperity. In the manufacturing Sec
tons particularly those depending up
on the steel industry, there are also
signs Of increasing business expan-
sion. Even in New England, where
strikes in the textile industry have
caused special disturbances, the ou.-
look is improving. July bank clear
ings look is improvig. July bank
clearances in the United States in
creased nearly per cent. In New
York city the increase for the month
was only Z per cent, financial inactiv-
ity having kept the grain smaller that
would otherwise have been the case.
At Boston, Chicago, st. Louis, San
Francisco, New Orleans and all other
trade centers there were satisfactory
gains for the month. In Canada bank
clearings in July increased more than
zS per cent over 1911.
Report Increase.
In the third week of July forty.one
roads reported an increase of over 8
in ;r,rs
managers are confidently expecting
still better results in August and Sep
TENDER. Some of the less favorably
situated railroads are making very
poor net returns-the Hartman lines,
for instance-but when traffic in.
creases, as now seems certain, those
losses should be reduced if, indeed,
they do not entirely disappear. There
is likely to be hardening of money
rates arising from increased trade
and crop requirements From now
on the latter are sure to extend. For
tunately the European markets show
easier tendencies, which will of
course tend to keep down interest
rates, and no stringency is in pros
pect. Our balances abroad have al
ready been considerably reduced.
Among investors there is a decided
tendency to seek investments provid-
ing larger returns. Many industrials
have been making liberal profits dur
ing the past year or two, and their
shares are in consequence becoming
more and more in favor with the in
vesting public. In some cases this
means assuming increased risk, but
the higher cost of living and the gen.
eral satisfactory outlook induce not a
few careful buyers to make such ven
lures. For bonds the market is not |
entirely satisfactory, low interest
bearing issues being neglected in
preference for those paying higher
rates.
outlook Favorable.
The outlook for the general mar
ket is still for increased activity as
soon as the leaders are prepared to
assume the initiative. From now on
politics will be less disturbing; the
harvest will soon be beyond doubt;
business will have chance to re.
sumo normal activity; congress ad-
journs soon; the international outlook
is clear; industrial conditions at
home are intrinsically sound; increas-
ed activity in pig iron shows conf.
dence in that quarter; the financial
situation is sound, and the railroads
will soon be taxed to their utmost IN
moving the crops, SO that there Is
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