The Washington herald., 1910-10-03
WALL STREET NEWS
General Business Indicates
Strength Everywhere.
SECURITY MARKET ADVANCING
of HiRh-grnde Bonds
of Strictly Investment Grade Con-
and western Trade Brisk-Sep-
tember Record Month for Crops

New York. Oct 2-The general bus
mess and financial position remains SO
steadily unchanged. the activity OF the
stock marKet continues at such low
ebb. and tie various aspects OF the en-
tire situation-at least from the point OF
view OF economics-hsve been so thorough
ly thrashed out by discussion for so long
past. that recurring lengthy reviews OF
the state Of affairs really seem quite I'M
necessary.
II must be observed, however, that ali
these matters are displaying signs OF
strength rather than weakness. and that
the security market seems inclined TO
advance. The distinctive feature OF the
market is. as 1t has been for the last
fortnight, an obvious accumulation OF
high-grade bonds and securities of strict
ly investment grade; and II is needless
10 observe that this constitutes one OF
the most hopeful general auguries that
could be named
The week just ended has witnessed an
orderly and satisfactory unfolding of
events in the agricultural and financial
world along the same lines as those so
firmly marked out In the week preceding
The month OF September has ended with
such a record OF sunshine and warm
weather as 10 make the month one OF
complete summer all over the country.
instead OF the storms and cold spells that
so frequently mark the period AS q re-
suit the crops everywhere. save perhaps
in certain portions OF the cotton belt.
have made the best possible progress.
Benefit to Industries.
The country's corn crop has now reach
ed a stage of general maturity so as to
leave only a negligible portion OF il in
a position where even a severe frost
would DO any pereepuble damage.
Opinions are rapidly gaining ground
in the grain trade that the seasons
crop Of corn will be above rather than
below the oft-quoted 5000 600, 900 bushel
figure, and all the industries of the coun-
try dependent directly or indirectly upon
agriculture are showing the benefit Of
the fact, There is some reason 10 think
that in the last month the cotton crop
has suffered a little deterioration.
Reports as 10 business conditions still
vary curiously. No doubt specific rea-
sons for depression exist in certain di-
rections. such as particularly the copper
trade and to a somewhat less extent the
iron and steel trade. But the question
is still very seriously asked In places
where business men oongregata whether
( II can really be said, taking the country
as a whole. that trade in It is in a de-
pressed state, after all. or at any rate
is likely TO be any more depressed than
II is now
II must be said that in the Southern
and Western sections not only does busi-
ness appear to be about as brisk as for
merly but there are strong signs OF a
broadening movement of trade The
weekly reviews Of Western dry goods
houses say that there is a big demand
for winter and spring goods there and
that stocks Of merchandise are very
light The farmers see their crops safe,
they are moving these crops rapidly to
market. and they are inclined TO buy
merchandise with a freedom that they
did not feel month or two since.
FIrmness I'm steel.
Even as regards the iron and steel
trade. although pig iron still remains
dull, greater firmness is noticed in GER
tain lines of finished steel products
An occurrence OF note last week was,
OF course, the advance in the Bank Of
Englands discount rate from 10 per
cent. and no doubt the significance OF
this event Is that the period of extreme
ease in money has closed for the time
being. But all this has been something
that has been entirely foreseen, and no
intelligent person could have expected
that the drain Of funds 10 the agricul-
tural sections, which is felt at this time
OF the year not only in our own land,
but in every country Of the world, would
take place without its usual consequence
OF stinening the price of money in some
degree.