The Birmingham age-herald., 1903-09-17
CROP SITUATION
 PA7 AMOUNT ISSUE. Steel Securities Again Noted
 for Their HeavineSs SPECIAL TIES VERY DULL Foreign Exchanges Show More steadi- ness at a Slight AdVance-5ond
 Market Is Slightly Lower
 With Close Irregular.
SPEclALTItS VERY DULL

New York, September 16-The same ln- market for some time were again in con- trol today The crop situation continues to be the paramount issue and out of the amount of sensational rumors and re- ports recently circulated it is at least clear that serious harm has been wrought to crops in certain sections of the north west From Georgia and Alabama came reports of damage to cotton by high winds and heavy rainfalls. Trading dur ing the early session was noteworthy, chiefly for a renewal of yesterdays sell ing movement for western accounts, Chicago taking a leading part.
 As in the early part of the week the steel securities were again conspicuous for their heaviness, both the common stock and the per cent bonds declining to low levels. Sales of the bonds were very heavy, transactions for the first two hours aggregating considerably more than one-half of the period in the bond department Declines in the list were general at the outset but the tone soon continued to relative steadness. <AlCulSOn S6eHleu lO De ldhtH up qulthiSs and Union Pacific was another of the few stocks that offered resistance to the early selling pressure. Commission houses reported little business and out of-town operations were doubtless cur tailed by the storm which caused serious interruption 10 all telegraphic services.
 he specialties were almost entirely neglected, a notable exception being h. ternational Paper preferred, which de- clined almost 3 per cent below the last record sales. Brooklyn Transit registered 2R per cent loss, but later made almost complete recovery. At midday the mar ket was almost at a standstill. A rally in no sense proportionate to the early decline soon followed on buying attrib- uted to important local interests. but support was still lacking in the steel is- sues the common selling lower than in the morning, while the bonds continued to be pressed for sale. Sugar, which has taken place in the inactive list, was sold for Boston interests, it is said The steady tone of the late afternoon was more attributable to short covering than any real buying demand. The steel bonds more than regained their loss of the early part of the day. The local money situation continues unchanged It is estimated that the banks will lose at
 
 There is partial offset to this, however, in additional Australian gold imports, another shipment of $1,5OOOOO being now on the way to the Pacific coast. Bank CTS believe that because of the easy rates for call money, the secretary of the treasury will not anticipate the $500 GOO interest due bonds October 1.
 Foreign exchange showed more steadi- ness at slight advance. The only rail- road return of importance was that of Minneapolis, St. Paul and Sault Ste. Marie road for it's fiscal year. Net earn ings show an increase of $236000 with a surplus increase of SIS 900.
 The bond market was slightly lower this morning, following the sharp break in United States steel second fives. That one improved later, but the closing was somewhat irregular. Total sales par value $i,610,000
 United States 2s coupon advanced per cent on the last call