The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-05-10

New York. May a-The idea OF when
some indications were noted on Saturday,
that the death OF the English King. in
stead OF intensifying the recent political
crisis IN that country, might have the
effect OF quieting political agitation, there
came TO generally prevail to-day in all
the worlds leading financial markets. on
the London Stock Exchange consols made
q pronounced recovery. and there was
a strong upward movement in all in
vestment securities.
Strength was shown on the continental
bourses, and, before the opening Of bust
ness here. prices OF American stocks In
London were quoted at very considerable
advances over those made on Saturday
II New York.
The first transactions IN our own mar
ket we're at levels that were hardly up
20 the parity In London thus established
and although the manifest improvement
In sentiment held the market strong dur
ing the first hour of business at the
end OF this time realizing sales brought
the market once more 10 the range Of
Saturdays close
Market shows Strength.
tended the depression further. but later
on, and until the close OF the day. the
market again turned upward. leaving
values finally not far from the opening
level. The days transactions undoubted-
~ witnessed a renewal Of the retreat Of
the short interest in the market, and an
additional reason for the buying OF stocks
was undoubtedly furnished by the figures
OF the government monthly crop report
which were rather better than were ex-
pec.ed in the grain trade or in financial
circles proper.
The condition Of winter wheat was
placed at s21. as compared with sos on
April 1 and S35 on May last year. Part
OF the improvement in condition thus
shown was. OF course. due 20 the fact
that the current report made allowance
for the deduction from the wheat acre
age Of 44S9,OCO acres Of land abandoned
20 winter wheat culture, but even so,
the promise for the crop at present is
for a yield OF 43S,554.OOO bushels, as COM
pared with a final crop last year OF
44s.OOO00O bushels
Report Ii Satisfactory.
There were those to-day who urged as
an unfavorable construction Of this re-
port the fact that the indicated wheat
yield now is somewhat less than that
OF last years harvest. and that the
traditional tendency Of the crop Is to
deteriorate as time goes on. This view,
however. was not that OF the ma jority OF
observers, who maintained that the re-
port made 1t highly probable that the
country's winter wheat yield this year
would be at least as much as that in
1909. when the total crop OF spring and
winter wheat proved TO be the largest
but one on record.
In this connection It was pointed out
that the days government statistics also
estimated the amount Of spring blowing
completed on May l as 500 per cent OF
the total contemplated. as against Gal
per cent last year, and Of spring planting
as 60 per cent. against 81 per cent in the
preceding year All this bears out what
has all along been heretofore generally
understood-that conditions in the spring
wheat section have thus far been ex-
ceedlngly propltious.
Call loans to-day were renewed I'm the
money market al the same lowered rate
as that of Friday, and time money was
easier. Sterling exchange. too, was again
weak