The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-07-09
REVIEW Of THE
STOCK MARKET
Crop Situation and Scare Over
Morocco Dominating Inhu.
ences During Week.
GRAIN PRICES GO UP
AND SECURITIES DOWN
Conditions Reversed and Equi-
librium Established Before
Closing Saturday.
BY RALPH EMERSON.

By Leased Wire 10 The Tribune.
NEW YORK. July S,-Wall street this
week had a very trying experience. The
crop situation was again the dominating
thing and likely 10 remain so until the
middle OF August, The most sensational
scare OF the season was engineered from
Chicago and Kansas City. Corn was run
up nearly cents. wheat IL cents. oats
cents and cotton almost s. a bale.
This. however, was not the only scare
that confronted Wall street. II had also
10 contend with an acute unsettling Of
the European security markets through
growing out of the action OF Germany.
English consols made 4 new low record
for the year and London, Paris and Ber,,
lin sold 0000 shares of international
stocks in New York.
IL did not take long however, to dem
onstrate most concusively that the selling
and cotton following the excited events
noted were greatly overdone.
Change in Situation.
Both stocks and grain later. came to
grief when they sought TO make their
operations fit the sudden change FOR the
better In the whole situation. The lead
ing European nations took the Moroccan
euair promptly in hand, thus elimina ting
the acuteness that prevailed previously
and making 1t plain that diplomacy would
manner. probably. for long time TO
come.
Concident, with this shift. of the Euro
pe5n situation, the reaL heat wave in
the west was broken and rain fell over
a wide eXpanse Of the drouth regions OF
the corn belt and portions OF the cotton
states. This brought much relief TO these
two important crops and at the same
time demonstrated the fact that the bull
speculation in grain and cotton was III
timed
stock and commodity markets ensued.
Stocks which had declined several points
In leading issues recovered and much OF
the advance In grain and cotton was lost
The stock market certa inlY acted well
and showed resilliency under trying con-
ditions. support came In when II was
needed and II is now clear that something
more than bear raids is necessary 10
make g deep and lasting impression on
values.
Liquidation Lacking
Liquidation would accomplish it. but
that was not apparent this week. On
cipient investment buying with funds Just
received from interest and dividend
money. and 1t will be interesting 10 watch
the progress OF such purchasing when
for. people to attend 70 business opera
tions, There was also modest investment
buying OF bonds and this is expected 10
increase in the near future.
The observance of the independence
holiday always brings with it quiet in
mercantile circles, and the extreme heat
accentuated this condition. There has.
however. been no relaxation In the i'm
proved sentiment manifested by mer-
chants last week and with the favorable
turn of affairs In the crop regions bust
ness men generally are inclined TO take
an optimistic View OF the future.
In tke Industrial world the best feature
has been the increasing disposition on the
part of the railway managers to place or
nj h1 mills and onuinmppI
manufa cturers,
The strength Of New York's financial
institutions brought out promptly through
the events OF the week is an incident
that deserves consideration In the
furtherance of crop marketing. and all
business operations in the autumn.