The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-08-12

the loss in money of such conditions ~ are
indicated-as idlo as to attempt to work
out the theory OF full compensation for
such a loss. Devoutly II Is to be hoped that
something may be found to temper the &C.
verify Of the blow to the farmers. who have
toiled and sweated to produce crops. only
TO find loss and disaster to requIte them in
the end for all their heart-breaking efforts
Uncertain OlA Stocks on Hand.
The theory Of compensation, II Is noted,
has shifted so that the argument Is now
based largely on the farmer receiving the
present high prices for his surplus corn. II
Is hoped that this surplus Is very large, and
in some quarters It must be considerable.
but advices from the seven surplus corn
States contain numerous references to
farmers buying corn there at the high
prices to feed to cattle. and this seems to
indicate that the visible supply is by no
means evenly distributed. and 1t rather
casts doubt upon reports Of . heavy stock
Of old corn on hand.
Steel Strike Disturbance.
At the present writing the steel strike
situation seems highly favorable to the
United States Steel Corporation. How many
men will obey Mr.. Skaters order will, OF
course. be fairly well known tomorrow,
when the Amalgamated Association, after .
long interval Of "3ockeyins." will be forced
to show Its strength. Whatever the exhibi-
ton may be. the actual labor situation will
not Immediately reveal itself. The struggle
Is one OF life and death. so fafs a. the ex-
istence Of the association u concerned. II
at the outset the union appears weak I'm
numbers. 1t Is certain that It will continue
80. for labor attached to other Industries
- nvfr A
the appeals that the Amalgamated Associa-
tion may make for assistance in the strug-
gle. Until the Amalgamated Association ca
pitulates. which II the ultimate and only
end Of the diniculty. the strike incident WIN
hang more or less over the market a. II
has done in the past
The course Of the exchange market win
still stand careful watching a. bearing upon
the general monetary situation. particularly
so now, when corn conditions indicate 4
very small expectation OF that commodity.
Confusing Bank Statement.
Again the bank statement confused the
forecasters. showing q decrease In surplus
reserve OF $1.zl2. 100. and a further increase
in loans Of 0.s4s. 100. Since July %, the ir-
fiation Of the loan account In the associated
banks has amounted to no less than $oO,-
257. 100. Wall street may view its steadily
increasing bank loans and its curious steri-
ing exchange market at this time Of the
ycaA WIN iiuihcHcuCes Out II CeIy8tnIY docs
not appear void Of interest by all bankers
and It Is a condition not viewed with salts.
faction by some who still look for a heavy
demand for crop movement despite corn
shortage.
For one thing Wall street may be thank.
ful. and that is. that some Of its bad news
now eliminating ID simply conlrma-
tory OF conditions long appreciated
by some operators. and anticipated In
part. through recent liquidation and short
selling OF stocks. The market Il the stronger
for these operations. and bullish spectators.
who were warning the West asainst the
evils OF the bear position. may really have
occasion to thank that section for injecting
an element Of steadiness In the market
The conditions. however, are diseouraeinw
for any speedy resumption Of the bull move
ment ana the impression IL steadily growing
that May . marked the climax.