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Show BETTER OUTLOOK l II TiilET j .Improved Crop Prospects, Ow- '-A ing to Favorable Weather r Conditions, Help: I LARGE AMOUNT 0FG0LD I IS COMING FROM ENGLAND ,1 :l Marked Improvement in the ; . Dry Goods Trade Is Most i Hopeful Featnre. , ; BY RALPH EMERSON. By Leased Wire to Tho TrJbune. NEW YORK, Aug. 6. The outlook ln Wall street ls distinctly more favorable. There were some Important developments durlngr the past week, including a further strengthening o the condition of thf clearing house banks, a decidedly bettei 1 outlook for tho crop3 and a perceptible Improvement In the dry goods market These formed an Important offset to the Influence of disturbed political condltfbn3 In tho western states, and certainly constituted con-stituted an excellent foundation for the restoration of contldonce as to the future of the country and especially as regards the autumn business. The developments j noted havo already taken deep hold on ! the public mind and business men are ' now showing moro disposition to resume I old-time activity, a move that Is high.y essential ln restoring trade conditions ta , a normal basis and to the higher plane that prevailed at the close of 1909. The liberal arrivals of gold from Eu- ; ropo and tho continued inflow of cur- j rency from tho Interior on an enormous scale have added greatly to the cash resources re-sources of the banks at the very season of the year when It is essential that they Khould bo In a strong position to meet demands that are close at hand. Simpiv , because call money rates have fallen to a low basis tho present position of tho i New York City banks has not receive i ; the proper consideration, nor has its im-portanco im-portanco been recognized. This will be come patent later on when the custom- s! er.s trains began to arrive. Not in many years has thoro been such a thorough u speculative liquidation as that which has taken place ln the local market for h weeks past. If the samo drastic liquidation liqui-dation had occurred In cotton, grain and farm mortgages, the banking condition of the whole country would be stronger than ever before. Copious rains and cooler weather over a wide area of the corn and cotton belt havi done an Immense amount of good to the crops generally and have led up to very optimistic sentiments now prevailing prevail-ing In regard to tho forthcoming statement state-ment of the government as to tho corn crop. T'ie beneficial results known, to havo accrued from theso rains havo caused a general revision of tho crop estimates which prevailed before the pre- . I clpitation. Some of the estimates placo j the final harvest of spring and winter P wheat above C00, 000.000 bushels and that r of corn at 3.000,000.000 bushels. J Estimates of cotton now range up to 5 12,000,000 bales, where only a short tlmo ; ago, tho out-turn was placed at 11.000 i to ll,2o0,00U bales. It Is possible that these views of tho final yield of cereals ; and cotton may b too sanguine, but tho i fact remains that a great improvement : has been wrought In crop conditions and 1 this, at the moment, Is tho underlying i basis for the improved feeling among -n erchants and manufacturers, both hero .' and in the west. (j Tho Improvement in dry goods Is tho p brightest feature In mercantile circles. : Heretofore business has moved by fits I and starts, but this week it has shown j a seady and sustained demand for con- j sumption which has resulted In' largo : suipmcnis oi morcnanuiso 10 mo wast , and southwnst, a fact that can be road- , j ' Uy verified by tho increase In freigha , t offerings to the railroads and the coast- f wlso steamship lines. With this Im- ; ( proved demand for textile fabrics, espo- I ? cially for coiion goods, thero has been j a hardening In the values, due not alone ; to tho curronL prices for cotton but to ! the fact that notices of further decided . curtailment havo been given by some of , tho prominent New England mills. Every- , thing In the way of surplus Btock will ; :' probably enter into consumption and then mills jWlll be forced to resume In order ; , to meet tho demand for tho goods. It looks very much as if tho dry goods ; trade would pave the way for goneral improvement im-provement In business, as the Iron and steel industry shows a large contraction contrac-tion in tho output of pig Iron. althouRh the demand for finished steel products Baa not fallen off In tho samo proportion as that for pig Iron. After allowing for i drawbacks here and there, it can be said that the situation as a whole, contain much that calls for encouragement as ta tho future. What little tendency was shown by the stock market today was In tho line of Improvement, after the check to the ad- i vanco received nt the closing yestorday. Prices opened J lo 3 higher and main- ; talnod this rango during most of the session. ses-sion. A controlling influonco governing speculation specu-lation Is tho day-to-day Improvement In the crop outlook. This is all-Important to nnanco anu iraac. The situation In tho southwest at tho end of this week Is very bright, whereas i ) last Saturday It was rathor gloomy. With the temper of the street disposed to mako t the best of all good news and to minimize t what Is unfavorable, tho failure of a l small slate bunk In this city today was passed without much comment. Complote bank clearings for July, published pub-lished today, show a decrease for tho ontirc country of li per cont. This la duo to the losses lo the middle western states and western states. The Pacific and western states have an Increase of 10 per cont. and the eastern states a gain of C per cent. The banks made another excellent showing In actual conditions, reserves rising ris-ing $5,573,000, The present position is tho strongest one in two years. Cash in- t creased S10.oni.COO, which is considerably , below thu highest, estimate of yesterday. m Lo-ns Increased $12,551,600, which shows im that the banks havo tried to Und somo ! employment for their large cash re- , sources. ' iK The surplus resorvo now stands at $c2,- H S00.100. A year ago It was 524.79G.7n0. and ; two vears ago It was $r7.l3$,50. i A feature that was remarked with sat- mm Isfactlon was the rise In deposits abovo I mm loans to tho extent of 520.000,000. H |