Evening star., 1905-05-11
Crop Report Fully Up to
Expectations.
PRESIDEN VIEWS
CORPORATE CONTROL CAUSES
MORE TALK ON EXCHANGE.
London Stock Market Again Dull and
Heavy-Small Foreign
Operations.

Special Dispatch 20 The Star
NEW YORK, May 1.-THE government
crop report and the further expression OF
President Roosevelt's views with regard
to the federal regulation and control OF the
country's great corporations were the most
important matters of more or less novelty
presented for consideration this morning.
The crop report was fully up to expecta-
tions in its forecast of a bountiful winter
wheat harvest, although the effect of the
showing Upon sentiment was somewhat
modined by the general understanding tnlt
agricultural conditions since the nrst oA
the month have not been exceptionally
favorable they were during the period
previous to May !.
The reiteration of the Presidents views
with regard to the power over corporations
with which the federal government should
be clothed could not be described as fur-
nishing a surprise to the financial commu-
nifty. and. in fact, there seemed to be gen
eral disposition to regard future develop
ments In this general direction with much
less concern than was apparent yesterday.
There was no material change in the for
eign political situation, and no further
definite news from the far east. The Lon
don stock market was again dull and heavy,
but its tone. particularly so far as Ameri-
can stocks were concerned was caused
more by the signs of weakness disclosed at
the fortnightly settlement than by any re-
newal of political anxiety. The London
HioHey market remained easy, ana the Bank
or England made a strong showing in It's
weekly statement Operations here for for
eign account were on a small scale and had
Southern Pacific Active.
Trifing net results, moderate purchases
of Southern Pacific were counterbalanced
by the sales of other securities. Southern
Pacific was of the conspicuous features
of the days market in q smart rise, which
took place on larger dealings than have
been conducted in that stock for a long
time. The animation in the Southern
Pacific was accompanied by very definite
reports that an initial dividend will be de-
clared on the stock in July, upon an annual
basis of 3 per cent. During the forenoon
and in most instances price changes were
confined to the smallest fractions in both
directions. During the first hour of busi-
- ness there was good deal of pressure evil
dent upon the United States Steel stocks,
both of which lost ground materially.
The Iron Market.
There was further discussion of the re-
dictionary tendencies in the iron market, bas-
ed for the most part upon yesterdays report
of the Iron Age. but it. would seem that
very exaggerated Idea prevails with re-
reaction. In fact, many iron manufactur-
welcome the slight setback to prices as
tending, for one thing. to prevent the
threatened importation of iron from Great
Britain AS was the case yesterday. neither
Tennessee Coal and Iron nor Colorado Fuel
and Iron were affected by the consideration
which was advanced in connection with the
selling of the United States steel stocks.
After midday the general market developed
increased stragth and activity and the
the general upward movement. The rail-
way list was much more.