Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-09-11
Cereal Crop Report Meets
Expectation.
ABUNDANT PROSPERITY
AHEAD FOR AGRICULTURAL
COMMUNITIES.
Conditions Discounted So That An
Stock Market.

NEW YORK, September 1.-THE govern
rnent's monthly report upon the conditions
of the cereal crops measured altogether up
10 the most sangune expectations Apart
from some slight deterioration In spring
wheat during August. all the other crops
made uninterrupted progress. Summarized.
the report indicates a total yield of wheat
OF O4OO0OOO bushels corn crop OF a.
TlGOOoOp0 bushels. and a crop of oats OF
$50 OOO 0lO bushels. The indicated wheat crop
companies with harvest last year of 552-
100000 bushels. the corn crop with yield
last year OF 2.467 10000 bushels and the
oat crop with last years yield Of $4,000
900 bushels Only very limited period
remains In which there can be any possible
injury to the corn crop. and a killing frost
at this season could damage the corn crop
only in the most northern sections OF the
corn belt. 1t is plain from these figures
that the agricultural communities are to
be blessed this year with abundant pros
perity and their enrichment is full Of sig
nifcance with regard to the industries and
finances of the whole nation.
When 1t is said that this magnificent ex-
hibit fell virtually fiat In today's stock
market. that circumstance attested only to
the concentration OF interest upon other
and more transient matters. and also to
the pessimism which now prevails through
out the speculative community. At the
opening OF business the local market de-
rived It's tone almost exclusively from Lon
don. where prices were generally depressed,
mainly because the Imperial Bank of Ger
many followed the lead set last week by
the Bank of England and advanced it's dis
count figures from 3 to per cent. For
elgn houses traded quite actively In this
market. but estimates varied widely as to
the result OF their operations on balance.
The exceptional strength of Canadian Pa
Cfic was however a reflection of foreign
purchases Scattering liquidation for local
account was conducted during the forenoon
session. and as this selling encountered no
opposing support worth speaking OF. num-
Der of the active stocks showed declines
extending from fractional limits to 2 points.
Loss on Reading Common.
The maximum loss was made on Reading
common. that stock presumably being spe-
officially affected by the continued labor agi-
tation in the anthracite coal regions. The
other anthracite coal shares were also
rather heavy, with the very striking excep-
ton OF Erie common. A single every large
buying order was executed In that stock
during the first hour, Of business. and OBJ
servers OF the dealings remarked the fact
that Notwithstanding the character of the
buying, about one-half of the contributing
sales were admittedly for the short &C
count, The movement on Erie was by far
the most striking feature of the days deal
ing, and It looked as II important interests
In the property were taking advantage of
the general state OF the market as afford
Ing good opportunity for them to make a
large Increase in their holdings.
Price movements in other respects In the
railway list were more or less uniform and
without much significance. The well-main-
tained strength of Erie exerted finally
sustaining influence upon the rest of the
list. and many substantial recoveries were
recorded from the low levels of the first
hour. The local traction shares and the in
dustrial shares followed the same general
drift pursued by the railway list.
This mornings serious accident on the
elevated railroad resulted in quite sharp
break in marlborough Rapid Transit stock
in the curb market. and Manhattan railway
dropped abruptly IL per cent. despite the
fact that the shareholders thereof have had
no pecuniary interest or concern with this
mornings dep1orable affair.