The Birmingham age-herald., 1910-09-12
PUBLIC REFUSES ID
 DADBLE IN STOCKS.
Trading Has Been Very Dull
 for a Week
PRICES AT STANDSTILL
Crop Reports and Political News Have Been Main Factors in Depres- sion and Public Leaves the
 Market Alone
BX RALPH EMERSON

New York, September 11.-(Special)- Dullness is barely broad enough to char acterize the stock market this week. Poli- tics has played some part in the stagna- tion, but the refusal of the public to get in the game is where the trouble lies.
 Although 1t cannot be said there was any pronounced disturbance of confidence, nevertheless there was increased timidity and conservatism on the part of mer- chants and manufacturers. which result ed in some check to the improving tend ency in the recent past. And the end of this political excitement Is not at hand as the Maine election will occur on Mon- day and after that will come contests in various states for control of nominating conventions, and finally there will fol- | low the November elections, which will decide the complexion of the next House of Representatives, matter upon which great public interest centers at the mo- ment
 There might be just apprehension in l all these as to the future of the coun- | try's trade if the nation did not have | behind 1t influences of a commanding na- ture that must eventually override the November elections. These influences are to be found in the years harvests, which are now rapidly approaching consumma- tion. A careful study of the products of the soil will reveal prospective out turn that assumes the highest importance at the present juncture
 The government crop reports of the
 week, with the preceding ones issued
 form an excellent basis for calculations in the premises. There is now every in- dication that corn will yield 5000, GOO, ,0OC bushels, which will be record harvest
 and which will be felt throughout the ramifications of trade and which will en- able the farmers to prepare their cattle
 for market, something that is greatly needed to bring down the cost of living Furthermore, the movement of this i'm rnense crop will give much employment | to the transportation lines and assist
 them to recuperate from the effects of the increased operating expenses grow ing out of advances in wages.
 | It is now generally conceded that the late improvement In spring wheat will 1 bring the combined harvests of winter I and spring up to 670,000,000 bushels. All | ready the farmers are rushing this wheat | to market and storage facilities are being overtaxed. The crop of oats will rise above 0O,000000 bushels.
 | Estimates of the cotton crop have re- gently risen to 100000 bales, then there l are numerous other crops that are usual 1 ly regarded as of minor importance, but
 which reach an aggregate value of $100.- 000,0O0. It is. of course, too early as vel | to figure accurately upon the value o
 the financial harvests of the year, bu | just now the popular estimate is $9,000 | 0G0 900. It may possibly go above that to- | tai. In this connection the figures oi l Secretary Hester of New Orleans on last | years small cotton crop of 10,250,000 bales are very interesting. The value of thai crop, not including cotton seed products amounted to 7s,S94, 095, the largest amount ever realized for any crop of the southern staple. Adding cotton seed, tho total value was brought up to 1902 1894, 095 an enormous amount for a single prod | uct of the country.
 This great mass of agricultural wealth cannot be duplicated by any other na- | ton of the world, and certainly forms a very solid foundation for the restora- | tion of prosperity to the country, such as was witnessed in 1906 and also in | 1907, previous to the memorable panic
 near the close of that year. It clears | from the figures presented that the sit uation possesses the requisite for en- couragement on the part of financiers
 merchants and manufacturers. What the | country needs to further the process | of rehabilitation Is rest from political ex- | citement and wrangles, but if these are
 not secured after the completion of the
 harvests, there is every reason to be- | Heve that a brilliant basis for pros perity will arouse the latent spirit ol 1 American energy and then the country
 will recuperate rapidly under a senti-
 ment of optimism, just as it did in the | last half of 1909