The sun., 1901-09-29
FINANCIAL AND COMMERCIAL.

The trade rcports this week are Of moro
than usual intercst There has naturally
been q good deal Of curiosity ne 20 what
the condition and tendency OF general
business would bs at this season OF the
year. which In an important period since In
II there is invariably rcfected the first
effects of the results obtained or likely 10
bc attained by the agricultural community
for the current croy year Besides two
! important event. have repre~-ed general
business at the besrning Of the --ason
| this wear. namely. the steel strike and the
as>as.ination Of the President II appears
that the effects of both are rapidly passing
away. A. The -ame time reasonahle weaihe
has prevailed throughout practically the
entire country This has stimulated IA"
| demand for staple goods and has at~o been
OF great benent to tho anthracite coal IN
dustry. which to-day s u NOR" salts
| factory condition than ever before IN iis
history
| Tho only untnward Circumstance With
| which ubc business Of the country has 'o
reckon within the next six months is the
shortage IN the corn crop, which, though
undoubtedly large. hhs not vet h"en d"f-
niiely ass-rt ained II Is signitcant that
Notwithstanding hat shortage ia" princi-
! pal commercial ccni-'-- In 'h" ch'H corn
i producing States repu1 active trade ana
that COLLECTIONS ara IN the main hetter than
I they were year ago This may rrason-
! ably b~ r-gardei a. evidence In support
| oi statements made 10y competent Oh
servers hen the midsummer damage
10 N" corn crop Wa taking pla"". That
the lu-s,-- sustained by ~" principal corn
producing State, would be urs"' to n con-
siderable extent by the weld ~ wheat
that va secured and 10y the unusual pros
perlty which those sections cnJoycd during
the last two ~ thrc" ye1-s
The improvement m the iron ard steel
industry sine, tho -c,tlemau' % the strike
~ n portion o' The employees ~ tho tni'"i
Staie- Steel Corporation has b.'n most
gratifying twith-tanding thr re-
sumption II b,i-incss a. . largo number ~
plants that were idle during july. August
and part % tho present month, pric,'-
Tor finished pruducta have advanced and
or,l,r- arr icing booked for several months
ahead and IA s,Ur case up 20 the end "t
1917, Il 1. estimated tina, orders FOR st"N'l rsl-
aygrcga'ing several hundred thousand tons
given rh,s wear will not 10 led uu',l n"Nt
velr H. VOL advanced SOM idea ~ tho
yalum- ~ business NAV br obtained from
vrr,. - Y..r crn, larger than In 'hr pre-
vlous wcck and 50 Ter cont larger than FOR
tho corresponding pcrod ~ las' year
rhcrc wns an increase m the exports ~
hread.'ur. tbs weck ~ over 2.j"o GO
bushels ~ cpmpar,d with last week and
over scpo .cn n, compared with year ago.
For IN" thirteen werks since july 'h"'e
eypprI. have Aggregated - az coJ bushels.
. m f.kt l,.t4h.sla n
compared with the similar period of last
year
Prices FOR cnmmodi,ie. ~ all kinds ~"
we'll maintained. vet with an absence ~
speculation In practically every market
Tor thcm The only artificial situation
NJ the moment II thai In the coppcr trade
and It was r"-ponsihle FOR a general retro
grade movcmen, In the stock market this
week The managers of the Amnlga-
mated Copper Company have endcavored
IN various WAYS. since the passing "f the
extra dividend upon the company'- stock
and al=o ~ similar dividends heretofore
paid hy subsidiary companies. to create
the impression that the stock ~ cupp"r
which the combined companies are carry
ing IL not excessive In view of the known
requirements 81 consumcr- II IL impo--
slhHH 1hNi 'Nf Ih'lfFtlllhiNiu ~ wv NillAl-
gAmatnd company To hold the prev -
copper az present figures i based upon
the -,Ic,s.-s Of It's plan. concerning which
~. plhlic ha- not vet been authoritativ"ly
advised. to control the market 81 the world
hy a pooling arrangement between all
of the principal producers both in this
country and abroad II this arrangement
should IT, perfected IA" copper producing
..s.
than ever b"forr.
Il is possible thai knowledge ~ 'he prob
ahle success Of such prosramin" as has
b"en Indicated infuencNd the managers
~ the CrpJ-r Cpmpanies ~ reducing IA"
extra dividends upon their shar'- bv
doing -, they and their ar.,ciate~ have
had an opportunity to acquir' upon
declining market stocks sid whom ia.
SPECULATION In those -harr- was rampant
Besides. low level Of priccs has becn
established Tor fresh upwa nj movement
when favorable developments m the copper
situation i~comc public property How
ever this NAV ha Tn, liquidation IA the
copper stocks this w,-ck has un-''tled the
entire narkc, for securities. and no, with
standing the natural rcac'inu during the
last two or thr,-a dAv- frpm tho depression
lively few exceptions, closed considerably
lowor than II did ltst SATURDAY
III" most noteworthy exceptions are the
Vanderbilt stocks The larger dealings
IN them. together With the steady advance
In the prics~ foi them. IL strongly Confirma-
tory ~ current rcpur'z that all th" com
panie- In which the Vanderbilt family
holds predominant interest are 20 he
virtually merged. or rather th" control
of them concentrated IN singl" corpora
ton. should this prove 10 h' the ca-s
tho management of those properties will
to greatly simplih,d and lh" principal
INVESTOR Ia them will have a singl" security
20 represent their enormous and NJ present
diversified holdings The roads would
then be operated practically ~ a single
system. 10 the great advantage of thcir
patrons and OF the transportation industry
generally
There has been a distinc' improvement
IN the monetary situation this week En-
traorhinAry demands from rmi't'r-.
which have bccn noted in detail ia this
column during the last few day. hsv" ~
last I-.cn snpt,lie.i and nov bills again.,