The Washington herald., 1910-03-04
WALL STREET NEWS
Values Stimulated by Tn
usual News Developments.
RAILROAD DISPUTE NEAR END
Report that Strike May Be Averted,
that Millions of Bushels Of Grain
Not Accounted For. Has Been Re
served on the Farms, Causes Much
Proit-tsking-FIurr In Copper.

New York. March S.-The three most
important news developments seen in
several weeks from a financial point OF
view. occurred during business hours
to-day. One of these was the announce
ment that the management Of the Balti-
more and Ohio RAILROAD had. following
the refusal of employees 10 consider a
counter proposition as to an advance in
wages. made an application to the Inter
state Commerce Commission for an arbi-
tration OF the difficulty.
The meaning of this is. apparently, that
a settlement one way or the other of the
dispute. that has for several months
been in progress between the railroads Of
the Eastern part Of the country and their
employees. is now in fair way of being
absolutely settled.
Immense Grain Reserves.
The second news item Of far-reaching
interest to-day was the publication in
Chicago OF the estimate of a private ag-
ricultural bureau, whose calculations are
perhaps considered more authoritative in
the grain trade than those Of any other
similar organization. that farm reserves
in The country, both of wheat and corn,
on March l were very heavily in excess
of those of a year ago The reserves Of
wheat were indeed placed as high as
I72, eco 900 bushels against 1913 900, 900 bushels
on March ]. 1903. while the corn estimate
was for 1.o60,OOOO0O bushels compared
with S5s,000C00 bushels last year. Figures
OF practically the same import We're given
regarding the reserves of oats and other
leading grains, and all this strongly bears
out the observation commonly made by
well-informed people in the last six
months, that the amount Of grain held on
the farms OF the country in unsold sup
plies Of last years crop IS away above
the average OF previous years.
As a result of this, very naturally, a
large decline took place to-day in the
price of both corn and wheat on the prod
uce exchange, the decline in wheat here
being accompanied by much more favor
able news from the winter wheat crop.
Again to-day the cable dispatches be-
tokened in more unmistakable fashion
the outbreak Of general speculative &C
tivity in the English market.
FURRY in Copper Shares.
To these encouraging considerations It
should be added, perhaps, the fact that
to-day the copper market took on renew
ed hrmness, owing 10 the knowledge that
in the last few days enormous sales Of
copper have been made. even If. in some
cases. at slight price concessions. which
have had the effect OF cleaning up the
copper metal market.
Whether as a result OF good deal OF
serious thought-taking upon these mat
tiers, there was. up to the last hour OF
the stock exchange session to-day, a con-
tinuation OF the vigorous forward move
ment In prices. that first set in vistbly
at the beginning Of the present week.
Then. naturally enough. realizations fol
lowed. and the market closed under prof-
it-taking pressure, which. however. stiu
left the greater number OF stocks at ad-
vances. There were no particular fea-
lures in the days stock market.