The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-08-27
BUSINESS PROSPECTS GOOD.


This is the season when crops are
, the controlling factor in business, u
writes Henry CIews. the New York
banker, in his current weekly financial
review. and he continues: "At the
moment the outlook is for a much
bigger agricultural product in both
quantity and values than the country
has ever experienced. A big wheat
crop, fine in weight and quality. has al
ready been harvested and is bringing
good prices. The biggest corn crop on
record will soon begin to be garnered,
This crop has already overcome its
backwardness and is now normal as to
time. In another week or two cutting
will become more general; and if frost
is only escaped in the corn belt until
the usual date. which is about Oct
ober 1, the biggest crop on record will
then be practically safe. Some enthu-
siastic estimates are running high
as 10000 900 bushels. The only i'm
portant crop concerning which there is
real uncertainty is cotton. Present ex-
pectations are for a II, 600, 600 bale-yield
OF over but another three or four weeks
of good weather is necessary to bring
these results. AS August is usually u
month of deterioration in cotton, It
would be well to hold extreme optim-
ism somewhat in reserve. 1t is already
an old story that we have secured big
crops of hay, oats, fruit, etc. Nothing
short of disastrous weather, therefore.
can now prevent a year of record
breaking prosperity for the American
farmer. This means a powerful slim
illus to many lines of industry. The
corn crop by itself is of incalculable
value, because of the many directions
in which it is utilized as food or for
manufacturing purposes. Cotton. too.
is one of the vital elements in our ma
tional prosperity; being one of our
mainstays in the export trade, as well
as a ruling factor in our textile indus
tries. These two great crops will not
only vitalize many industrial pursuits,
but will also enable our farmers to be
liberal buyers of both luxuries and ne
cessities during the coming winter.
Reports of an impending car famine
are coming from all directions, and can
only be averted by shippers promptly
cooperating with the railroads in
avoiding such conditions. One Of the
most beneficial effects of a Zig harvest
would be its tendency to reduce the cost
of living. Food. the principal item in
the cost of living to the masses, will
certainly be cheaper at first hands;
and if there is not a substantial decline
in the prices of breadstuffs and meats
next winter, it will not be the fault
of the American farmer. The blame, if
any, will be more likely to fall upon the
distributor,
THE activity of the iron trade con-
tinues phenomenal. Prices have risen
Sc to IS per ton from the lowest point.
Many plants are running to the full
limit of their capacity, and complaints
are increasing of tardy deliveries. The
demand for steel products, of course,
comes chiefly from the railroads, which
are compelled to renew both equipment
and rails upon an extensive scale. The
possibility that steel prices will adj
vance still further is also forcing out
many orders which have been deferred
as long as possible.
with the two greatest industries in
the country-farming and steel-in such
sound and active condition, how long
will it be possible to defer business ac-
tivity? At present business is pros
DCTOuS here anu IAlSAS OSCdQSS VI Inc
liberal profits arising from advancing
prices, but what about the volume of
business? That is not increasing sat-
isfactorily. While Europe has been en-
joying an enormous trade expansion
during the last two years, quite us
great in quantity as in value, the
United States has been practically
marking time as to volume. 1t is some
times misleading to measure progress
in values; and just now we are partic-
ularly in need of expansion in the vol
ume of trade. This should certainly
come"