The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-07-02
GOSSIP or Wall STREET.


winter wheat States. does not anticipate q
much larger spring wheat yield this season
than last when tho crop was seriously dam
aged by rust For the last fortnight he has
been travelling through southern Minnesota
and South Dakota. Il havo not seen North
Dakota" he says. but. allowing 10000, 900
bushels for that State. the total crop for the
three States will not be more than i75. ooo. 900
bushels. or 5Oo0o.ooo bushels less than
recent estimates. There Is A large acrca go
of macaroni wheat for which Il production
Of fifteen to twenty million bushels is claimed.
so that the net spring wheat crop will not be
more than 100, 600. 600 bushels in the three
States. The crop Is late and little will be
out In July. 1t will take favorable July to
produce tho crop as estimated South Dn-
kots is late. scu.hwes. Minnesota Is very bad
and the yield will be light. Some counties
west Of Minneapolis are good. The James
River Valley promises the best in South
Dakota"
Mr.. Jones's preliminary spring wheat
figures show that he looks for a total wheat
crop In this country this year fully 100. 900 900
bushels under the figures indicated by the
last Government report. The June percent
ages from Washington indicated 4"6.oco.oCO
bushels 81 winter wheat. gam OF Ill ,oOo, ocO
bushels over last year. and 277 .000. U0 busf els
OF spring wheat. a gain Of 10000. 600 bushels
giving a total crop OF 1856 .OCO bushels. as
compared with 652. ZOO. 600 bushels last year.
Mr. Jones has already estimated the winter
wheat yield at from COO to 10000, 600
bushels. Taking his preliminary spring wheat
estimate of from 100000 to $4,000. 600
bushels. and allowing 70.oo0.oCO bushels for
spring wheat outside the three States. It is
seen that MIR. jones is counting on produce
ton this year OF from $40, 600. 600 to els 900
bushels. or from looo0O00O to 10000. 900
bushels less than indicated by the Govern
ment's figures. The Go rent nearly
always overestimates the wheat crop In Its
early figures. Two years ago at this time
the Minneapolis expert was 100. 900 600 bushels
under the Government. and last year he was
$4,000. 900 bushels under; but In botll seasons
the Government came down to the Jones
estimates In Its late reports. This is not
unlikely to be the caee again this season. In
comparing the past two seasons crops with
those OF several years ago the increase in
population must be borne in mind. With
a crop OF $50. zoo. 900 bushels last year the per
capita production was only GIL bushels,
as compared with a per capita production OF
795 bushels in 1907. for example, when the
crop was only $50. oO0. 900 bushels. From
tho crop OF 1897 we were able to spare for ex-
port 2l7,ooOoOO bushels. while from last
seasons larger crop we could ship abroad only
81, 900. 900 bushels.
Tho report that MIR. Lawson Is going into
vaudeville Is probably only press agents
yarn.
Jane. J. Hill will be back very soon from
bis fishing excursion and more Is likely to be
heard then OF the plans that are maturing
for the distribution OF rights to Northern
Pacific and Great Northern stockholders.
The earnings of the three Hill roads this
last year have been so large that the stock
holders are justified in anticipating returns
from their investments in excess OF the regular
dividends Great Northern has earned ls
per cent. on its stock and Northern Pacific
IL per cent, while Burlington has earned
twice the amount OF the charges on the
Joint a. Increases in the regular dividends
on the iTill roads are unlikely. but very val
ia bic rights will be distributed. which ought
TO make these stocks at present prices look
attractive Northern Pacific Is selling In the
market now S6o a share higher than the high
est price ut which purchases of 1t were made
for control in the 1901 panic. when short COW
aring made IL sell at 81 .Don share but large
owners OF the stock. who are in tho conf
ience Of MIR Hill. think that II ought to sell
Iso a share higher still on its merits. The
purchase Of the stock is being recommended |
10 investors who want sure return on their |
money, with the chance Of a material en- |
,arcement Of the market value OF their in |
German houses have been buying Chesa-
oeake and Ohio in anticipation Of dividend |
II per cent
This Is the time OF the year when a large
part OF the American people is busly engaged
u taking s4,OoOooo,o 900 worth OF products
,ut of the soil
Some OF the people who have been huling
,otton profess to be alarmed by the specula-
I've following they have attracted. Much
he same thing happened last year in wheat
The orr ginal bull crowd, after ii had advanced
prices 20 cents bushel. found hat everybody
vas getting wildly bullish. and II saw that no
,ood would come from attracting huge
public following at top prices The bull
rowd sold out its wheat at big profit. but
he public took the market into its own hands.
md before the season was over prices we're
dvanced another 20 cents In the cotton
market the public appears to have taken MI
'rce seriously when he announced that
the 100, 600 cotton spectators in the country
ach bought hundred bales of cotton they
ould control nearly the entire crop and have
he bears at their mercy. One OF the cotton
'uls at the top prices on Friday sent out
his warning: People who know nothing
bout cotton have bought it indiscrminately
merely because they have been told that it
going higher The situation is one Of great
ension If anything should happen to
ring about compulsory selling OF any OF the
arge lines now out Wild break would be
ossble Regarding crop conditions our
wn advices lead us to believe that either a
cry large or a very small crop is possible,
nd the present situation seems to call for
almness rather than plunging operations,
Brooklyn Rapid Transit is selling at its
lghest price in three years.
One OF the Western houses recently had
mother stock ticker put In its customers
coma ticker set low enough to be read
y the easy chair spectators. After it had
zen installed several days the attention OF
he head Of the house was called to the fact
h at nobody WAS making use OF 1t. "Oh.
will be used. you can be sure. There will
e crowd around it when the market Ia 20
POINTS higher. They always flock in about
he elimination OF a bull campaign"
Some OF the old time commission brokers
ad ingenious ways OF getting business
.yz,o st ko hor