The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-07-07
BULLS ARE READY
FOR Bis fR0L|C
RAINS AND CROp CONDITIONS pur
rffE MARKET ON IT'S FEET
AGAIN.
DISASTER NOT LIKELY
STANDARD OIL READY TO DIsIN-
TEGNA1E AND WILL MAKE
OLD COMPANY LOOK
LIKE PiGMY.
DISASTER NOT LIKELY
BY THOMAS @. sAoTwElL.

NEW 1ORh, July 6.~-It ratled on
the corn fields and the stock market
recovered to-day while grain and cot
ton declined. The movement of the
previous day was exactly reversed
Losses in corn ranged from, 2 To 3
cents bnshel, In wheat about i lac
bushei and in cotton about $3.50
! bale. while gains In stocks were from
l 10 nearly points In the standard
issues. The close was strong at nearly
tae highest prices of the day and with
Hrm unaertone that indicates sun
port from the best quarters
Rains that fell Wednesday night
were worth hundreds of millions of
dollars to the country While they do
not insure a bumper corn crop. they
do make impossible disaster in corn
| such as was feared. The plant was
III such shape that actual DAMAGE was
being suffered every day. About the
worst corn crop that can be oonsid-
| cred for this year now is minimum
OF, say 25oe .o0o. 900 bushels. and there
Is still the possibility of 5000. 0eo, 900
| bushels and even more for the acreage
10 much larger than last year. Con-
diuons In the cotton fields are such as
TO justify expectation of more than
100000 bales. The cat crop il rs
timated at about 100000 600 bushels
. less than last year and the hay crop fs
bad, but the wheat crop promises To
break all records. The railroads are
thus insured sufficient tonnage to earn
their dividends with something over TO
pay for improvements
DisA stsr Out of Question.
While there may be other crop
scares through July and August. it
must be remembered that any fisas-
ter now Is out of the question. Under
such circumstances the feeling OF con-
fidence ip the security market has re-
turned ana II IL now possible TO look
forward to great improvement, both
in prices Of stocks and In general bust
ness. Even to-day, although rains that
saved the situation had been falling but
few hours, the steer srade showed
evidences OF a revival
Because the corn crop scare had
been based on real facts many orders
for stocks had been held up. These
were released and July business OF the
trust in particular. will shVv VERY
marked Improvement over that for
June, while July 10 expected to show
the best Of any month for nearly
year. The Copper Producers Assoeia-
ton IL expected to show In ffs report
Saturday that stocks have been reduced
for the month from 100000 to 12.o0o.-
600 pounds.
individual Stocks.
Now that all the fundamentals are
08aAhs - In W6ttA WilIi0 W CpH-
slider individual stocks. Erie IL one
that II attracting much attention. The
noonshine about purchase OF Erie by
Canadian Pacific WAS never taken seri-
ously by important people. but Erie
deserves attention because OF the great
improvements in ita earnings. 1t is
heavily capitalized but not SO heavily
as Reading which has 1911, 4o3 OF stocks
and Bonds per tf1ffe against SfS6.isG
per mile for Erie. OF course. Reading
has coal properties that are of ire
medous value to offxet this heavy capi-
tAltsation per mile. but Erie also mas
valuable coal lands and Erie Is In
ereasing Its net earnings constantly
as result OF legitimate business.
Action of the interstate commerce
commission In ordering reduction
OF coal rates IL not bear argument
on the coal roads because il uuiets
PUBLIC feeling and does not mean tho
loss OF angle dollar to, any. OF the
coal roads. The roads do not lose
any money through the reduction or
rates because their chief customers
are their own subsidiary properties
ana IN whose treasures the money
formerly paid for freight will remain
as surplus to the credit OF the roads
Ready to Distntegrate.
standard Oil attorneys are under
ntoOu ~ u&t0 uHt8u&0 the pan TOT
disintegration OF the trust and with
In week or ten days 1t may be SUBJ
United to the court At ct. Louis Tor
approval. Under this plan the stand
ard OH people are said to have gone
as far IN tho most ardent trust bus
ter could demand and arranged for
a complete distribution OF the assets
Of the Standard OIL Company OF New
Jersey.
The independents have complained
bitterly about the rivalry OF the
Standard OIL Company Of News Jersey
but now they will have score OF
| rivals. each one an powerful In its
department rs was the parent COM
pany and Il may be we'll 10 make
prediction right here that the stand
ard OIL system has just begun its
real growth. Tho power that ths
Rockefeller group Of financiers will
acquire under the new systAm Of
competition will be % tremendous ~
to make thu old Standard OIL Com
pany Of New Jerssy. - Il now exists.
seem weaklins by comparison.
Bulls Arc Ready.
This deciaicn Of the Standard OIL
people 70 make q speedy settlement
Of thsfr troubles will prove tho back
bona Of the bull campaign that the
rains Of wednesday night made
certainty. In fGct It II said that the
standard OIL people, who have ap-