The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-08-06
FUTURE IS NOT
So BRILLIANT 7
Keen Disappointment in Finan-
cial Circles Over the Bust
ness Outlook.
LEADING CROPS ARE NOT
UP TO THE STANDARD
Trust Diss0luti0ns Hurt Secur-
ity Values and Wall Street
Is Wrathful.
BY RALPH EMERSON.
By I,eased Wire 10 The Trihtlna

By Leased Wire to The Tribune.
NEW YORK, Aug 5.-This has been a
week OF keen disappointment from several
important vital points 1t Is an indisput-
able fact that the leading crops OF the
country. with the single exception OF cot
ton, have undergone a deterioration not
generally expected oven n week ago. Next
Thursdays report OF The government bu-
reau will show considerable decline in
corn and spring wheat. In the meantime
preliminary estimates OF the probable
harvest outcome VIII be generally In
dulBed in. One OF the best known crop
experts. predicts total yield OF 1850, ,ooo.. :.
600 bushels OF corn; ass. 900. 900 bushels Of
winter wheat. PIE. 900. 900 bushels Of spring
wheat and $4,000. 900 bushels Of oats.
The unexpected break in stocks to a
level az low as that reached in May and
6 TO points In two weeks. was partly
due to this unfavorable crop outlook 1t
was started however, In other causes,
American Tobacco company to postpone
its common stock dividend until the pend
Ing dissolution OF the company should be
evidence OF the hardships to the stock
holders of the corporation Of the anti
trust laws.
Standard Oils Loss.
Another instance was given In the plan
OF the Standard Oil company to distribute
among It's shareholders parts. OF about
OF the Standard OIL Of New Jersey. This
has caused selling Of the stock Of that
concern. Its market price and that OF the
American Tobacco have deprecated about
$3.50, oO0, 900 in the last few weeks.
Naturally these interests have disturbed
shareholders OF other trusts. More than
this, they have irritated the large finan
cial interests and again provoked them TO
expressions OF harsh opinion OF govern
ment policies as regards corporations.
Railroad managers arc bitter again and
ing signs of new labor demands coincident
with orders or rate reductions.
The men who have been looked TO to TAKE
the initiative in campaigns for rise have
nothing except absorb for investment a
moderate amount Of seasoned goods
Therefore speculation rests In the hands
Of the professional element who are just
now bearish 1t does not look as though
August would live up to lis record or q
bull month In stocks.
Industrial Situation.
In the industrial situation the chief
event was the general Improvement In
steel conditions and new high record for
by the United States Steel corporation.
With the present temper OF railroad man
ayers as to tho outcome OF the harvests
and the interstate commerce decisions,
to whether the improvement will be main
tained, Railroads are apparently staTtins
fresh economies. fact that has Just peen
evidenced by the discharge OF shopmeH.
Tho textile industry has not yet .,ae, bene-
Marked conservatism is still being shown
by merchants in placing future orders Tor
fabrics, and the adjustment between raw
material and manufactured goods has not
yet reached n solution satisfactory TO all
interests involved. AS result OF this
there has been some closing of mills
In New England and IN the south.
with the advance Of the season there
has been some gain in general trade but
It has not been pronounced. neither has
il been up to expectations formed pre-
yous to crop deteoTatIon du,Iios. Iu this cont Ont
forth by the leading banks Of the east
and west are attracting widespread lne,,,: atten;
as to crops and trade than those heard In
any other quarters. and there were many
in the financial district who regarded
them as too sanguine under the clrcum-
stances. However the banking influence
OF the United States Is Justly looked upon
as a powerful one for good and IN the
present instance It may make sentiment,
which some times Is great factor In pro-
duclng results.