The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-08-12
DAY OF SPECULATIVE PLUNGING APPARENTLY PASSED.

REPUBLIC SPECIAL.
New York. Aug. 1L-Wall streets busi-
ness week was one Of ups and downs. WIN
activity reduced TO a minimum ana Pro-
fessional traders in the ascendant Inc
important interests held aloof from the
market, although one or two moderate days
buying Of stocks Of a better character than
the recent average was noted Inc pool
and CLIQUE operators made q fair show OF
activity in their specialties. sort OF coun-
terfeit presentment of a market, ana some
interest was attracted by the open manip-
ulation of st. Lawrence and Adirondack
which carried that stock up 10 points IN
the face of a dull and reactionary move
ment elsewhere maintained
Guessing on Strike E6ects.
There was too much uncertainty on the
mart of the public as to the outcome OF the
steel strike, and the showing Of the Gov
ernnent crop report. to make speculative or
investment operations attractive. and the
week closed with sentiment much depressed.
T;,c country, not Wall street alone, Is
confronted with a trying situation through
the disaster to the growing crops. as set
forth late Saturday afternoon by the Gov
ernment report. and supplemented oy
snecial canvass. fortified by Independent es-
Inmates from the agricultural departments
in the several States Of the corn belt.
The crops are life blood Of the country.
The injury they have sustained Is OF such
nroportion as to render the term national
calamity" BY no means extravagant- The
los, NAV not show in an immediate decrease
I'm the present satisfactory returns from the
railroad or In the cancellation OF merchan-
disc orders from every section Of the West.
but no such loss as that indicated by
general condition Of "a per cent for corn IN
August can help but reflect seriously upon
the country and every industry that 1t con-
tains.
Former Crop Shortages.
In 1895. the last year Of corn crop failure.
and when the total harvest fell to liz TO-
ooe bushels the August condition was re-
ported at GIL per cent as against condi-
tion Isl per cent lower at the present time.
Departments Of agriculture OF the various
States in the corn belt indicate a present
condition not only below the Government
estimates but in many cases below the es-
Inmates based on crop averages compiled
by The Republic.
Take the most lib ,ral estimate yet pub
lished. that OF Mr.. J. c. Brown. statistician
Of the Produce Exchange. indicating q har-
vest of August 1 Of L. .33o3. 10000, and COM
pare 1t with his estimates Of the July
condition Of 2.O9s 100000. The decrease in
the estimated harvest in one month reaches
the enormous total Of 7e4.ss3.O0o bushels.
While 1t is found necessary to revise the es-
Inmates Of the corn crop a similar situation
is equally true Of other great agriculture
products. Thus. the New York Produce Ex-
change estimate of the spring wheat condi-
ton is reduced In one month by <5.ln .0oo
bushels. or from 2s1. Sc. 900 on July / to
2is. al 900 on August /. In the same interval
the indicated harvest OF oats is cut down
g. e.ls7. 600 bushels. or from s3.42soco to s71.-
1000 bushels.
Tremendous Loss Inevitable.
1t would be idle to attempt to measure