The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1914-07-14

1 49, 49,
New York banker. In hie current review
and analysis OF the conditiGas that pre-
vail in the world Of trade and finance:
| and he continues: 1.-The most en-
couraging development was the July
crop report Of the Department Of Agri-
culture. This report indicates = crop Of
fully s3o. 900 900 bushels Of wheat.
against 7e0 900 900 bushels year ago;
a crop Of 1.sss. 000. 900 bushels OF corn as
against 2,44s. 00o. 900 bushels 4 year ago:
a crop OF oats Of 1.200. 900 900 bushels
compared with LIZ. 900 900 bushels a
year ago. The estimated farm value Of
! the wheat crop IL placed at 500. ZOO. 900;
corn over Sz,0oo. ooo. 900. and oats over
$500, 0OO. 900. These amounts, Of course.
represent only a portion Of the total
agricultural products OF the country.
which this year are expected to reach
q value Of fully SO 900. 0o0. 900.
The creation of 30 large an amount
Of new wealth must inevitably have q
stimulating effect upon general busi-
ness. This fact Is particularly realized
in the Western or Agricultural States.
where the feeling is universally opti-
mistic Western railroads are busily
preparing to handle the vast traffic
which this will create: and there il
already a pleasing diminution In the
number Of idle cars, which decreased
more than 10000 during. the month Of
June. There remains a heavy surplus
Of idle equipment amounting to 100000
cars, but this will probably be ma
terially reduced within the next few
weeks. There IL also some improve
ment in the steel trade, resulting from
a freer placing Of orders for rolling
stock. although that industry is still in
a very depressed condition. In the
building trade there II a partial re-
sumption of activity following the late
acute reaction. The June record of
failures shows a decrease in number.
and there would have been a satisfac-
tory reduction of the liabilities had II
not been for the Clafiin failure, which
is still an adverse element in the dry
goods situation. Prices have been un-
settled, and a public sale has been or
dered; but July is usually a month for
clearing sales in the dry goods trade;
so this tendency should not be regarded
too seriously. The dry goods trade is.
of course. feeling the effects OF general
depression at the distributing end. and
high prices for raw material and labor
at the manufacturers end. An added
element Of uncertainty IS the new tariff.
which is admitting wooden fabrics and
fancy cotton goods much more freely
than when 1t first went into operation.
The steel trade thus far has not been
materially affected by the new duties.
The country already exports far more
steel products than It imports. and II
not in any serious danger from the new
although lower prices abroad
would probably admit moderate quanti-
ties Of certain products in the seaboard
markets of the United States.
1.-THE Mexican problem is rapidly
as stock market influ-
ence: the probability of American in
having qlnfost reached the,|
point. Huerta is evidently
weary Of playing losing game: and,
II all reports be true, the prospects are
for early peace in that unhappy coun-
try Conditions in northern Mexico are
much more settled, and it Is significant
that the American Smelling & Refin- |
ing company is about to open it's plants |
in that section. This market has not |
vet adequately responded to our
escape from the Mexican danger.
Should satisfactory settlement fol-
low the present peace efforts, a highly
new development will ensue in Mexico. |
This will afford relief where financial
strain has been greatest, and in due
season there will undoubtedly be al
rush of new enterprises for develop |
ment of the vast and rich resources Of
that portion of this continent.
lone Of the most encouraging de-
of the week was the frank |
change of attitude by President Will |
son toward big business. The presi- |
dents courageous announcement OF
his belief that the vast majority Of
men connected with what we have
come to call big business are honest. |
and patriotic is a well |
come acknowledgment of what every
sane, intelligent and fair-minded BUSH |
ness man knows to be true. There are
rogues in every procession and big |
business has not been free of its mis- |
deeds and unsound policies. The silly |
however, that every sue
cessful business man is 'malefactor,
an assumption which has been very |
popular with a certain class of people, |
has done great harm to the country; |
and Mr.. Wilson has performed a dis |
tinct national service by contradicting |
this popular obsession. Thus far the
stock market has been slow to respond !
to these favorable influences. The |
appears to be to hold the !,
delay of the interstate commerce COM |
mission responsible. Internationally |
that is an important factor. but its i'm |
portance is probably overestimated. 1t
Is doubtful If the commission will
grant the full request of the railroads. |
A r,oxdick fo lilralax L