The Washington herald., 1910-09-09
WALL STREET NEWS
Stock Market Weak, Closing
at Net Losses.
INDUSTRIALS DROP BRISKLY
Sufficient Material for Speculation
II Provided by Government Crop
Report, Copper Producers Monthly
Report, and the Maintenance of
bank Of England Discounts.

New York. Sept. S.-Suficient material
FOR speculation was provided to-day by
the government crop report, the monthly
report of the Copper Producers Associa-
ton. and the maintenance OF the Bank
OF England discount rate at . per cent.
but relevant as we're these developments
upon values. they altogether failed 10
arouse the stock marke. from its leth-
argy.
Transactions in the ordinarily inactive
industrials were OF professional origin, as
were practically all the other safes. an
attack upon minor industrials being nat
urally stimulated by yesterdays abrupt
break in American Hide and Leather pre-
ferred. That stock was again weak to-
day. selling down to 10 and closing with
a net loss of S5s points. and it's weakness
was soon followed by a brisk decline In
the International Paper shares and by
an attack upon other industrials, until
at the close there were such losses in
these shares as "a points in International
Paper common, in International Paper
preferred. ~ in New York Air Brake,
AZ in American Ice, and Ia in American
Canning preferred.
Other Fractional Losses.
Many Of the other minor industrials
sustained fractional losses. But the stan
dard active stocks were little affected by
the declines in those shares. and the
transactions In the standard shares were
as small and as uninteresting as on any
one OF the other equally dull days of
the past two weeks. As a whole the
market was again stupid and entirely
lacking in animation.
In previous days, during the current
period Of dullness, It had been a mat
ter OF wide comment that the stock mar
ket displayed a stolid indifference TO bad
news. II had yielded somewhat 10 the
new nationalism, but neither this unto
ward political development nor series
Of other unfavorable incidents in poll
ties had induced liquidation of any i'm
portance whatever. The inference was
that the market was thoroughly sold out
until its composure could not be dis
turbed by bad news. and the hope was
accordingly entertained that the arrival
OF favorable news would stimulate
brisk upward movement
News of the Crops.
In the crop report the important things
were that the condition of corn declined
only il per cent IN the month Of Au-
gust and stood on September / at 7S2
as compared with 74.6 on the correspond
ing day last year. and that the spring
wheat condition had improved from 81
per cent August l to 81 per cent Sep
TENDER ]. The figures on corn Indicate
record crop. not far from 100000
bushels. a spring wheat crop 100000
bushels greater than was indicated in the
August crop report, and a total wheat
crop OF 570,O00O00 bushels, which. though
100000 bushels short of last years
crop. is stu 100000 bushels more than
was estimated early IN the summer The
oat crop-is estimated in excess 100000
bushels. and. altogether. the crop report
Is fully In accord with the more sanguine
expectations. The market paid no at
tention 10 IL. Neither was the market
concerned over the declaration by the
Copper Producers Association that do
nestle deliveries of copper increased
IL, 10000 pounds in August; that foreign
deliveries increased 10000 pounds, and
that stocks decreased 10000 pounds.