Pine Bluff daily graphic., 1917-09-18
MINOR CROPS EXCEED
 THE AVERAGE YIELD

Henry Clews' Review of Financial Trade Conditions Shows America Will Develop New Export Trade. In the circular reviewing the finan- cial and trade conditions just issued, Henry Clews & Co.,, said in part:
 Further persistent liquidation has left it's imprint on the price level of securities this week. Indications are present that this selling has to some extent at least been of foreign origin. Sweden appears to have been one source, following the disclosures of the use by the German ambassador at Buenos Ayres of the Swedish diplo- matic service to send unneutral infor- nation to his government. It is quite desirable to emphasize that informa- tion regarding all these foreign sales is not tangible. But it is we'll known that Swedish interests have, like those of other neutral countries, been real izing enormous profits from their dealings with belligerent powers dur ing the war. Hence it does not appear unreasonable to believe that they in- vested substantial amounts of these profits in American securities. Ger tainly no better avenues for invest ments were present.
 "So far as the railroads are involv- ed, the heavy reductions in net rev. enues are very apt to be accorded ex- aggerated importance. The volume of business that is being carried by the transportation lines has never before been equaled;' there is no immediate prospect of an important change in this respect. Reports to the Interstate 1 Commerce commission from 155 of the Large roads for the month of July show their revenues $3O2, ,839 ,O88, as compared with $263, ,5O1 ,346 for the same month last year. After allow ing for the increased operating ex- penses the net revenue amounted to $96, 6,649, ASA, comparing with $93,881,- l174.
 "For the seven months ended with July the gross receipts were $1 ,949, 77O,OOO, an increase from $1 ,738, ,298,- 900 for the same period of 1916. while compared with $576, 5000 last year these comparisons are with period of unexampled prosperity in the trans portation world a reaction is not un- natural.
 "If thnse comparisons are represent ative of the general railroad situation and it is believed they are, there cer- tainly is no incentive for permanent \ investors Gin contradistinction tc spectators who are desirous of se- curing day to day profits) to indulge in the active liquidation that has SC recently been a feature of the mar ket for railroad securities. We are very apt, and not unnaturally, so to over look because of our sympathies and the personal dangers of our loved
 ones, the material advantages that
 must inevitably result from war that
 we tried so hard to avoid.
 America has attainede and vii
 maintain new financial position
 among the nations of the world; il
 will be restored to the seas as an i'm.
 portant maritime nation; it will have
 become associated in a practical way
 with many neew export markets, anI
 finally, it will moreover have the last
 ing reputation of being the nation tha' at the crucial moment stepped in tt
 decide the war in favor of democ
 racy. This is a position that canno
 fail to mean much in the materia
 sense. It will mean a postwar con Itinuance of our national activities or
 a remarkable scale and continuing prosperity for the great corporations that so clearly are responsible fol
 those activities. Our country has vel far to go before it reaches the peal
 of it's development. For our farm! and mines we have had series o: wonderfully prosperous years. Hig( prices have been paid for our pro ducts by foreign countries, thus in
 creasing our wealth. This year wt have in sight a corn crop of 5000,
 900 bushels, for which the farmer wil
 receive extremely lucrative prices, : volume and price that have not beer
 nearly equaled before.
 "The average yield of corn for tho five-year period 191115 was only 2, 754 100000 bushels. Winter wheat crop is below the average, but spring wheat promises about an average out turn. Meanwhile virtually all tho
 minor crops are well in excess of av craze yields. These facts indicate tht degree of prosperity that is being eX perienced in the agricultural sections
 of the country. Industry is presenting
 q similar position. Labor is so active
 ly employed at high wages that it's
 spending power can hardly be overesti mated. The, increase in the price o1 silver to virtually $1.00 per ounce is
 an indication of the increasing valut
 of the products of our mines. This ltoo, means a corresponding increas, lin our wealth especially if, as seem! :. not imnrohale. advantage can be takel