Show I Financial i and 1 L BY fly Y TIU THOMAS C. C 10 LI of or tho the New ew York Aug b ent b Events recent weeks prove that the farmer armOl IH itt 11 mas master leI of ot the worl world There Is plenty of or gold There Is too much make c mono money especially In tho the United States But hut there thore is b not enough food anywhere Tho Tue farmer Carmer has hus gio Iown so rich that he lie IJ Is not forced to accept any fly mere pittance that speculators may mar be hie wIl willing rig ng to give ton for his harvest Ho lie Is demanding ng a fair price for his labor CItes Cities railroads am anti mines have b baen en promoted out of or nil ni reasonable proportion to agriculture Prices of ot food aro are high huigh because although al although 31 al- al though tine the harvests are arc breaking all ahi 31 records tim the population is stilt still sUI greater In Iii II proportion Tho Ito ono one good goon thin thing that must come out of the present boom In Wall nl street Is 1 the tho realization n that moro more acres of oC ground must be cult cult- Va ted All AI tine the grain operators Operators In Chicago aro are arrayed against tho the farrer farmers am anid ar are working for lower prices hut but th the they have not been heen teen able to break brenk wheat under a dollar doUar a bushel buhei Although crops this year ear will wi undoubtedly be le breakers record for the tho whole world the whole consumption is so great aia at ai ata ata a dollar a bushel for tor wheat that H It will wil leave only a n nominal surplus aitho ai nt atthe tho the end ent of Ot tho tine year vear and unless next year ear we produce greater bUI bumper bumer er crops wheat iv will wil Il mount again The he present depression In the tho price cnn cant on only I bo be b. b temporary when viewed fairly in tho the light of ot all aU the tho circumstances Just now It docs does loon 1001 as ns though It I would go gO slightly t lower If I the tho volume of or wheat alone were ware tho the oath only consider consider- aton It would go go much lower hut But the currency crop Is greater than th tho wheat crop op In tho the United States and the tine gold crop Is 1 very great groat abroad Measured fn In n terms of 0 food and general gen oral eral conditions stocks tn in Wall aU street streel aro not er very hl high h. h In moro more n figures ures they are terrifying Union at nt is cheap compared with string beans at a n quart ml milk at 8 S cents and meat at current prices Peace leace conditions are arc tho the life Ufo of business bushness bush busi ness conditions There Thre Is too much peace hence to suit uH Wall all street Tho The bright picture has nothing noting for a contrast and for that reason somo some of tho Ito most experienced experienced CX- CX ex ex- speculators are aro becoming worried Ever Every question queston about which there has beon been any dispute In iii public seems temporarily to have havo been set settled led at least leat Tho Tine good news Is taking tho tue shape of increased net earnings L by all al the railroads and nil all al the In industrial com corn panics During Dinning the panic the tho railroads railroads rail rail- ri- ri roads were forced to economize by discharging cBs dis discharging dis- dis charging men and doln doing a away way with wih certain fancy services it Jt has Deer neen Deer ed that small smal numbers of or men can take care of or all al the tho business of or tho the railroads Therefore the tho operating operating oer- oer oper oper- expenses have been permanently permanent reduced ced Tho stool steel trust Is a striking Illus of ot tho tim increase of or efficiency without Increase of cost It I Is learned L from headquarters that the 92 9 per cent of oC the trust capacity now in operation Is equal to 10 per por cent of ot the capacity of ot tho tine trust at tho timo of or tho the pro pre boom This Thus Increase of capacity has hns been boon obtained without an any c increase of fixed charges The Tho net earnings of or tho tue trust must amount er very rapidly under these circumstances circumstance Cheap mono money Is Is of course the foun foun- dation of or the tine present advance in prices Many an brokers tr try to sn say that there Is it no public Interest In stocks This is it not true Owing to the tho fact tact that mone money is a n drug thousands of ot business men ien are buying stocks through the tho trust companies there thereby b saving interest char charges es The Tho brokers charge IJ 41 per von cent for tor accounts and compound tho the interest twelve times a year car In addi addi- then tion to that a brol broker er now and then tImer disappears with wih the tho customers customer's stocks stock This Is giving some i ln very Important busIness noss to the trust companies Tho Thc a public Interest Is very cry lur large e. e It I cannot bo o measured by hy th the tho number of ot stocks I in iii the hands erf of a brokers r In Wall street |