The Washington herald., 1914-06-02
Finance and Commerce
Arkansas, .; Tennessee. 80; Missouri,

Arkansas. ~; Tennessee. 80: Missouri.
s6: Oklahoma. S.; California, 100.
Yesterdays cotton condition report was
the frst this year. The next report VIII
be issued July and at / y. m. and will
show condition as OF June 8 and also
will contain the governments prelim-
mary estimate on acreage. On July 81 at
noon the government will issue its third
condition report as of July Is; on Au-
gust u at noon another condition re-
port win be issued as Of August Is. and
the final condition report Of the season
win be issued at noon October 9. giving
condition as OF September s. The gov
ernment win issue Its crop estimate De-
cember 10.
High Commodity Markets..
May options. representing the spot or
cash article. expired last week at virtually
the highest prices of the year in the vari-
Gus big commodity markets. May wheat
went at 90 cents bushel or within cent
of the high level price touched the pre-
vious day. May corn contracts expired at
"a cents, which was the highest price
paid for that contract the entire season.
May oats expired at % cents. or within
i IA cents of the best May contracts for
cotton, the great wealth producer of the
Southern farmer, expired at 14.35, or
within 10 points Of the high price OF the
year.
The strength of the cash article in these
various markets demonstrates the strong
financial position of the American farmer
who thus was able to get top prices for
lis products regardless of the business
depression and the depression of values at
various times in the futures markets. In
every case futures have been forced I'D
to practically the highest levels of the
season as time for maturity arrives. With
farm products commanding such prices Ii
is evident that the farmer, who is the
backbone OF the nation. is prosperous and
that prosperity must sooner or later be
reflected in general revival Of business
Fortunately Congress has no control
over weather conditions.
A. b. Leach & Co. send Lewis, John
son e. Co.. of this citv. the following:
The point has been raised before that
the increasing use of automobiles has
a deterring influence on the savings or
the nation. Not only that amounts
which otherwise were set aside as saw
fngs. are now being used in buying and
maintaining automobiles, but also many
savings banks for that purpose An in
teresting sidelight on this subject is
thrown by one OF our correspondents
from an Eastern State. who writes: I
think the automobile craze. in the aggre-
gate is using up a lot of money tha,
would otherwise be in savings banks for
investment. savings bank president
told me he had recently had four differ
ent depositors withdraw their money to
purchase automobiles. while another in
formed me that he had had three such
cases recently, and one party borrowed
money to buy an automobile and mort
gagged his place. These two illustrations,
as believe, are being paralleled in about
every community in my territory We
might add to the above that the redeem
ing feature Of the situation lies in the
fact that the automobile is gradually
passing from a luxury to a vehicle ab-
solutely necessary, especially in the
thinly populated parts of our country,
to move about and to do business"
ii. 4. Evans to W. B. Hibbs & Co
Little by little the country at large is
beginning to disregard politics, and has
shut its eyes to the avowed policies of
the administration in Washington. II is
giving hopeful attention to the progress
OF the crops. and as the season ad-
vances is beginning to take a more op-
tfmistic attitude toward the future.
Business shows signs of reviving. and
do not believe that the market will wait
very much longer before discounting
this business revival