The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-10-11
WALL STREET NEWS
Crop Report Favorable and
Stock Prices Advance.
MARKET DULL TO LAST HOUR
Weld of Corn ssrpasses All Previous
Records and Oats Also Proves he
yOnd Earlier Esttmates-S'heat
Does Not Show So WelI-Steel Cor
poratiOn Outlook Favorable.

New York. Oct 1O-Untn the last hour
to-day the stock market was as dull
ana stupid as on any one of the mean
ingless market sessions of last summer.
IN the second hour the turnover was
no more than 1900 shares, and in the
third hour even less. and up to o'clock
only 10000 shares had changed hands.
But in the last hour zest was Impaired
10 the trading by the publication of the
government crop report, and stocks ad-
vanced buoyantly In a market that was
comparatively active II had been ex-
pected. September weather having been
extremely favorable, that the report
would show an improvement in the con-
dition OF the leading crops as of october
!, as compared with September l but
the actual figures surpassed even the
most sanguine expectations.
The estimated yields of corn, wheat.
and oats were all far above the Septem-
Der hgures. The estimated yield OF corn,
which may be considered practically final.
is 3,0i6.OO0.O00 bushels as compared with an
estimate OF 2 943 .O00 bushels last month,
and hnal crop OF 2,772,0o0O0o bushels
last year. The yield OF corn FAR sur
passes all previous records. and the oats
crop also. which is estimated at l.096.
0OO.O0O bushels as compared with 1885,
O0O.OO0 bushels last month"; and final
crop of l.OO70OO.0OO bushel last year, IS
also a record breaker.
Spring Wheat Good.
No less encouraging was the improve
ment in spring wheat. the yield OF which
is now placed at 100000 bushels, or
. 100000 bushels more than was Indicated
a month ago IN midsummer, when ex-
travagant reports OF damage 10 spring
wheat We're circulated. Il was generally
believed that the total wheat crop would
be at least 100000 bushels below last
years crop of $4,000 COO bushels. The
governments final return places the crop
this year at 692.OO0.elO bushels, or only
100000 bushels below the crop OF last
year
The decrease in wheat is much more
than made up by increases in other
crops. and the aggregate Is much
greater than the altogether satisfactory
returns last year The direct relation Of
these Unexpectedly good crops on the
stock market was principally displayed
to-day in sharp advances IN. the stocks
or the railroads. which are assured OF a
better tonnage from farm products than
ever before
All OF the standard railroad stocks ad-
vaneed sharply after the publication of
the report. and prices ar the close over
topped the average OF August II. which
I,
TO the big break IN July.
Many UnaIIed Orders.
Other business statistics which at
tracted great interest to-day were con-
tanned in the statement OF untitled orders
or the books Of the United States Steel
Corporation at the close of business Sep
TENDER 80 Unlike the crop report, it
could not be said that the showing was
favorable. The decrease in orders, in
deed. brought the total to a lower amount
than in any, save two. reports since the
first year of the company's business. IN
filed orders. for instance. were less than
IN any Of the months following the 1907
panic But while the showing was IN
favorable. IL was not at all surprising
and II IS probable that conditions in the
trade are not as poor as are indicated
by the statement The railroads, as is
well known. has placed few, If any
orders for 1911 delivery. waiting upon de-
cisions IN the railroad rate cases before
estimating their requirements. and other
important consumers. assuming a wait
ing attitude on account of political un-
certainties are ordering for needs Of the
immediate future only