The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1909-08-10

Aer the ANeruBe-3AecoEo nheAA anu
Dat Crops Are Expected.
New York, Aug. s-The only portion OF
the government crop report that could
possibly be construed as unfavorable was
the loss OF per cent in the condition OF
corn and the corresponding revision Of
the estimate OF the crop TO 2.9540O0 900
bushels os compared with an estimate OF
A16l.OOO,O0O bushels in the government re-
Ort as Of July l.
But deterioration has been IN part an
Trcipatod. and the country should be able
TO worry along with a crop closely
approximating SOOO,OOO,OOO bushels. and
still likely to be the greatest ever har-
vested.
The comparison is still highly favor
able with last year when the anal yield
was 2.669. 100000 bushels. and with the 1901
crop OF 2,5s2.OO0.OO0 bushels. and is alto
gether likely 20 surpass the record crop
Of 2927. 10000 bushels IN 1896.
Wheat Estimate Strong.
But even II the figures OF the corn crop
were such as to justify acute disappoint-
ment. most ample compensation would bs
found IN the report on winter wheat
spring wheat, and oats TO say nothing
of the showing on the important. though
less considered minor crops.
on winter wheat alone the favorable
character OF the report was much more
surprising than was the rather unexpect-
edly large deterioration in corn.
In Its July report the bureau estimated
the Yield Of winter wheat at 1A7 bushels
per acre and indicated a crop OF 4O9,-
10000 bushels. The current report
increases the yield per acre to 15.5
bushels the increase being due no
doubt TO the highly favorable har-
vest weather throughout July and
estimates the final yield at 432. $50, 900
bushels, a gain Of nearly % 100000 bushels
over last month and a crop comparing
closely with the 49, .90S.OOO bushels har-
vested last year
Surprisingly favorable also was the re-
port on spring wheat which lost but Il
in condition In the month OF July and the
Indicated crop Of which IS 270,3iS.O 0l
bushels as compared with 226 694, 900 last
year and 26i5l7,OO0 the biggest crop in
the past five years Thus there is indi-
Gated total wheat crop of 703, 26s. OO
bushels or nearly 100000 bushels in ex-
cess OF the total crop Of last year.
Banner Dat Crop.
The high condition Of oats was also
maintained throughout the month and
since this crop is now safe It Is certain
that It IS easily the largest on record
As ~ a..
crops the government report also con.
tanned interesting matter in the esti
mates Of grain in farmers hands whicr
IS very much smaller than the amount
at the correspC ending time last year. This
circumstance indicates thar much lower
prices than those now prevailing are
altogether unlikely and that the money
value Of the crops IS certain 10 be the
greatest in the history Of the country.
one weil-known authority yesterday
estimated the value at S525, 100000 in ex-
cess OF the high aggregate paid last
year.
stock Rise General
Prior TO the publication OF the crop re-
port at O'Clock the stock market moved
forward in the same orderly and DELHI
crate manner that has characterized Il
IN recent weeks and that has made ;he
movement most impracti:shle.
The volume OF trading was in Jus,
about the same amount as on most OF
the full market days last week and in
terest in stocks as displayed by trans
action in a large number OF stocks was
equally broad and widely distributed
Public participation in the market was
not excessive, but the business OF the
commission houses was good. and III,
trading devoid. as Il has been for weeks
Of any outburst OF ultra-enthusiastic pro-
fessional or otherwise speculative feat
ures
Steel common and Union Pacific early
advanced TO new high records, and all
the standard railroad stocks participated
in the upward movement No news de-
velOped apart from trade reports OF the
same favorable tenor to which the fnan-
CiaI community has become accustomed
as accompanying the upward movement
and 1t IS probable Ghat much OF the ad
vance was further anticipation OF a
highly favorable report on the crop.
Realizing Sales.
on the publication OF the report the
market sold of moderately on a sub
stantial amount OF realizing sales. Civ
iEg in this respect a reminder Of the
markets action in the last hour OF the
day last week when the Senate passed
the tariff bill
To-day. even more evidently than then,
realizing sales were readily absorbed. and
an evidence that The crop report had
not been fully discounted was supplied
by the action Of the wheat market, whic'
broke December wheat 1 cent a bushed
IN the fifteen minutes OF trading be-
tween the publication OF the report and
the close Of the grain market.
A decline OF IS 20 20 points in &C ttor
also contributed 20 enthusiasm over the
extraordinarily brilliant crops shoy. n
Call money advanced 20 PIX per cent, bu.
most Of the days loans were made al
rs or per cent. and neither in money
nor elsewhere was there any development
whatever 10 mitigate the extreme salts
faction over the brilliant prospects FOR
business forecasted or seemingly assured
by the remarkable abundance and money
value OF the countrys crops.