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About The morning Astorian. (Astoria, Or.) 1899-1930 | View Entire Issue (June 23, 1904)
THE MORNING ASTORIAN, THURSDAY, JUNE 23, 1901. PAGE SEVEN. FINANCIAL REVIEW Henry Clews' Weekly Letter on the Financial Situation in the United States. ABSORPTION OF BONDS Ueafton for Great llopefulnesn la Uie Crop Outlook Through out the Country, New Tork, June 22. Thoush deallnn on the stock exchange art limited, the market displays a strength of under tone that promises well for tht fu ture, provided no untoward events In tervene during the nrxt two month. Tha chief source of strength at pres ent la a ntlfaetorjr monetary sltua tlon, funds being- plentiful enough to avoid an anxiety concerning crop de mands when' they begin. The next reason for hopefulness Is the crop out look, which Is satisfactory as a whole In spite of backwardness. Reports of business reaction are frequent and are unfortunately confirmed by current re ports of railroad earnings and other evidences of contraction; but Wall street turns a comparatively deaf ear to such arguments, and replies that all such conditions were discounted long ago by the shrinkage in security values and that the time Is now ripe for anticipating better things. One significant , demonstration of confidence Is the quick absorption of recent bond Issues. These have been numerous and large, but the prompt ness with which they have been taken and their absolute failure to depress the stock market reveal an underlying 0e. tt, George, Pmidtnt, 1 C. HljjiM, Caihlcr, Of e. W.'Vamn, Vke-Prttldtnt, dtrtlfglnt, Ant Caihlcr. The Astoria Rational Bank ASTORIA, OREGON. DlBECTOgS GEO. n.GEOIWE, GEO. W.WAEBEN, W. II. BABKEB, AUG. BCriEfLNECKNAU, L.MANSUB. rmWCIML COMHPOHDtHTi. Bank of Dew York, K. B. A., New Tork Crocker- Woolworlii Nat. Bank. 8. F. first National Bank. Portland, Oncoo. C.aUa.nUtl KaUuual BaaliUbloagg. First National Bank of Astoria ESTABLISHED 1886 Capital and Surplus $100,000 ASTORIA SAVINGS BANK Capital 1'alJ in $100,000. Surplus and Undivided Profits $26,000 Transact a general banking business. Interest paid on time deposits. J. Q. A. BOW LB Y, 0. 1. PETERSON . FRANK PATTON. J. W. GARNER, President Vice President Cashier. Asst. Cashier Jft8 TENTH STREET, ASTORIA, ORE. strength that Is both surprising and gratifying. Tbls week has witneesed Wo new big Ihhuos $10,000,000 New York Central bands and $40,000,000 Southern Taclfle preferred 7 per cent stock. The former was expected, but the latter was a surprise, and neither exerted any appreciative pressure on the market, excepting In the Southern Pacific common shares. This shows a buying power ' reserve that was quite unexpected ' ,' Though financial conditions have much Improved, the same can hardly be said of general business and Indus try, both of which are handicapped by high prices and high costs of produc tion. The process of readjustment, however, Is already under way. Pig iron has had a heavy fall, and finished Iron products must soon accept the held up by trust Influences and con tracts delayed In consequence. A frt deal of work ts also postponed by the excessive demands of labor; but these, too, must be modified by the Inevita ble levetlng-down process which has already set In. Cotton and cotton goods are also declining, and thus facilitating re-establishment of the In dustry upon a sounder basis than here tofore. This process of readjustment, painful as It is, must be faced, and the leas it is resisted the better for all Costs of production are alto gether too high, and the cost of living cannot be reduced until these come down from the excessively high level of the past few years. As soon as those who take the initiative find values settled upon a more normal basis business improvement will suc ceed present depression. Good crops this fall will be the most important factor In any improvement Crop fail ures would be national disasters, sof only as affecting our foreign trade and our agriculture as the chief basis of our prosperity, but also because of the effect Upon prices of food products, which are already very high for the reason that demand is overtaking the supply. Hence, our particular need this year Is good crops. A rather unsatisfactory feature of our foreign trade movement was a de crease of 115,000,000 in May exports, due to a shrinkage of 8,000,000 In wheat, S.000,000 in cotton and 2,500,000 in corn. Our exports of manufactures and minerals are, however, increasing, and if the present downward tendency of commodity prices continues the shrinkage In exports will be only a temporary affair. Our credit abroad continues good, and gold shipments appear to have ceased for the present, Europe having satisfied its Immediate wants. What effect the war will have upon the gold movement remains to be seen, this and the increasing supply of loanable funds being the chief Inducements to gold shipments. Very soon future cot ton and grain bills will be In better supply, sufficient, possibly, to offset these influences. Little attention Is paid to the presidential ' campaign, wb contains no exciting or alarm ing Ik and no question concerning the sound! f our currency. - The outloon . ; the market may be considered more favorable. Bad fea tures have been amply discounted, stocks are concentrated in strong bands and money is plentiful These are conditions favorable to manipula tion should the big leaders so agree, and In the absence of such plans we may. look for a fair trading market, subject to the influence at all times of crop reports. HENRY CLEWS. The World's Fair Route. Those anticipating an eastern trip, or a visit to the Louisiana Purchase exposition at St. Louis, cannot afford to overlook the advantages offered by the Mlssurt Pacific Railway, which, on account of Its various routes and gate ways, has been appropriately named "The World's Fair Route." Passengers from the northwest take the Missouri Pacific trains from Den ver or Pueblo, with the choice of either going direct through Kansas City, or via Wichita, Fort Scott and Pleasant Hill. Two trains dally from Denver and Pueblo to 8t Louis without change, carrying all classes of modern equip ment, including electric lighted obser vation parlor cafe dining cars. Ten daily trains between Kansas City and St. Louis. Write or call on W. C. McBride, gen eral agent, 124 Third street, Portland, for detailed Information and illustrat ed literature. Driven to Desperation. Living at on out-of-the-way place, remote from civilization, a family is often driven to desperation in case of accident, resulting in Burns, Cuts, Wounds, Ulcers, etc. Lay in a supply of Bucklen's Arnica Salve. It's the best on earth; 25c At Chas. Rogers Drug Store. Now He Reeds Truck. Did you see that screaming cartoon in last week's Fudger "No, I never read Fudge any more." "Why, how's that did you get tired of itr "Oh, no just changed barbers." THE FAIR ROUTE, via Chicago or New Orleans to St. Loils, is one that gives you the most for your money, and the fact that tha ILLINOIS CENTRAL offers unsurpas sed service via these points to the WORLD'S FAIR, and In this connec tion to all points beyond, makes It tft yeur advantage. In case you content, plate a trip to any point east to write, us before making final arrangement. We can offer the choice of at least a dot en different routes, B.. H. TRUMBULL, Commercial Agent 142 Third street, Portland, Oregon. J. C LINDSEY, T. F. A P. A. 142 Third street, Portland, Ore. F. B. THOMPSON. F. P. A. Room L Caiman Bldg, Seattle, Was LACE CURTAINS This department is crowded to its utmost with new Curtain creations IMPORTED BRUSSELS NET CURTAINS-Ia neat, dainty pat. terns, at, per pair..... .........t&OO, S3.00 end tlOAO IRISH POINT CURTAINS These are very desirable Curtains; in neat designs, at, per pair $4.60 and $100 COTTAGE CURTAINS In blue and whitegreen and white' and pink and white; these are the latest creations for bedroom, sitting-room or dining-room, at a pair... f 1i5, $1.50, $1.79, $160, 13.00 ORIENTAL TAPESTRY CURTAINS In new rich patterns and colorings, at, per pair. ......$100, $16 $340 and $180 ALL STREET CARS TAKE YOU TO ZAPF (SL CO., WHERE YOUR CREDIT IS GOOD. n nttttunnnnxtaunn u u u u u ttu n u u u u u The Grotto handles nothing but straight liquors; no blended goods in the house. Some People Are Wise And some are otherwise. Get wise to the value of our Pre scription Department when you want Pure, Clean Drugs and Medicines accurately compounded. . .. Anything in our stock of from our prescription counter, you can depend upon ae being the best.. Get it at 8 tt tt tt tt tt l2SfiZJSS?SSSi Hart'c llmcr Stnrn uiu wuiuioiiiiot oaoca I1UI I U UlUg VlUI U tt tt tt w o tt aananaan aaaaaaaaaaaaa n CENTRAL MEAT MARKET G. W. Morton and John Fuhrman, Proprietors. CHOICEST FRESa AJTD 8 ALT MEATS. PBOMTT DELIVER! 54a Commercial St. Phone Main 321. SEX Everybody row.. Not a day passes now, except Sunday, without from two to ten new names being added to The Morning Astorians subscription list. It is only a question of time until The Morning Astorian will be Dm Evevy rui InJ mm doi - Estonia and surrounding towns. One of the reasons for this is that The Morning Astorian is the best daily paper published in Astoria. Another reason is OUR GREAT PREMIUM, Woman's Home Companion which is given FREE to all Morning Astorian subscribers paying their subscriptions in advance. The Morning Astorian and the Woman's Home Companion is a great combination. Only 60 Cents a Month. If you are not already a subscriber, get your name on the list and get in line for the next number of this great Magazine for women. ' 1