New-York tribune., 1902-08-13

THE DAYS OPERATIONS IN SIothH-
stock market values were firm in the greater
zsrt Of the day on small volume OF business
Money market uncertainties checked acuNll!'
hut they failed TO induce important Hquloal4oIi
or daunreu the spirits Of bull enthusiasts. Inc
local money market situation Is not III 0i'
.Iaryring nosition. and the mere fact that a
heavy demand for funds is expected soon shoulu
moi create uneasiness, save in circles where
.r,,ar margins are used to buy stocks at cur
rent prices Commission houses, as a rule. are
,,-au s1pplied with time funds II therefore
snAcuIation does not run into a boom there
.nught TO be no serious disturbance in the weeks
when money moves 10 the interior In a 1e" IS
,sues in Yesterdays market fair degree OF &ic-
afvitv was noted. Baltimore and ONO was
taken bv q good class of buyers; also Atchlsoh'
Missouri Pacific. St Louis Southwestern issues
Southern Pacific. Texas and Pacific and HOOK
ing Valley In the late afternoon the market
7,ecar7e unsettled as a result Of realizing sales
and in many issues early Improvement Was ei--
4irelv lost. with net losses at the close The
greater number of issues however, showed
small net gains. The Gould stocks. Baltimore
and Ohio. Pacific Coast issues. Louisville and
Nashville and Nashville. Chattanooga and St
Louis made the chief advances The reaction
in St Paul and Southern Railway was thought
10 be due 10 selling by the Western element.
Colorado Fuel and Iron declined on reports OF
possible competition in territory now monopoI-
tzed by the company. It was announced that
the so-calied Gates element had received
sufficient number Of proxies for use at the an
rual meeting TO give it control Of the Colorado
Fuel and Iron Company The market closed
dull and heavy
The government crop report shows that the
condition of corn is two points above a ten-year
saverage Of 81 Ter cent. and 81 points above the
7,ercentage at this time a year ago Winter
wheat is turning out better than expected
while spring wheat averages S9' per cent
against sos per cent q year ago, and ten
wear average OF 50 per cent. Oats also are IN
p promising condition. while. as a matter OF
fact all farm products are growing in a man
-7er that foreshadows q big yield Based on
the condition of the crop on August /. the
WELD of corn this year Will be the largest on
record, amounting. according TO current estl-
mates. 10 more than 2-vo00ooo0 bushels. As
American exports of corn last year fell off 10
o0Ao00 bushels from the preceding year. repre-
senting a money loss Of about SioNooWf
The Importance Of big crop this year may
readily be seen. With prosperity in the farming
community there need be no fear Of a collapse
this wear in the country's industries Despite
the small corn crop last year the railroads in
the grain belt made money. The movement Of
general merchandise to all parts OF lne west
was enormous. and. as this movement shows
no sign Of falling off. this years railroad earn
tnss ought 10 surpass all preceding records
The growth Of railroad business in the West
&c reflected in the earnings Of the Atchison,
Topeka and Santa Fe system. A few years ago
the company's net earnings were SeVo,Wo,
while in the fiscal year ended June 80, 1901,
5otal net earnings We're S22Jo0ooo In 1891
she con7panv defaulted on its interest a rep
eti+ion Of such development is impossible, as
che con1uany has Leen reorganized on the basis
IF hard times, while the country through which
3t runs has grown up 10 the mileage Of the road.
Atchison preferred should be safe investment
sn the poorest years. The Atchison system
runs tv its own trackage from Chicago 10 san
Francisco. and its facilities for handling freight
and passengers are not eXceed by any road in
she country The Northwest as well as the
Southwest. is growing. adequate evidence OF
which is presented IN the reports Of the North
western railway companies Northern Pacific,
for instance. showed gain in gross earnings
for July OF over SGo0Ge0 as compared with the
same month year ago, when traffic was also
heavy