The Washington times., 1911-06-25

discussion by the action of the Re-
publican "insurgent" Senators In
joining with the Democrats and vot-
ing Instructions to the Senate Finance
Committee to report on the House
tariff revision bills at an early date,
is doubtless of greater direct inter-
est to manufacturing and commercial
interests than to the financial mar
that very little is likely to be ac-
complished in the way of tariff re-
vision at the special session, but 1t
realizes that any uncertainty on
matter of this nature Is unsettling
and disquieting to business men, and
usually reacts unfavorably upon the
security market
Considering the Crops.
Except that the tariff revision ques-
tion has been brought up more sharp
ly than before. however. there is
nothing particularly novel IN this
matter for it has been apparent for
months, in fact, from the day follow
ing the election, that the party which
has always been the enemy of the
protective system, would have a great
deal to say in the matter Of tariff re-
vision. 1t really amounts to little
therefore whether the work of re-
vision is taken in hand now or later
on. at the regular session of Con-
gress, when 1t would come up nat
urally. 1t would. no doubt, be better
for the business of the country II the
matter could be settled speedily. but
that was never a possibility and even
the Republican program of revision
had contemplated piece-meal work.
that is, a revision schedule by sched-
ule, aided by the expert investiga-
tions of the tariff commission.
Concerning crop conditions. which
Is a question OF far greater impor-
ance to the commercial and financial
interests of the country than either
the prospects of new industrial trust
suits or a revision of the tariff, Wall
Street Is as much in the dark as 1t
was during the preceding week. and
time longer. AS is customary at this
time the market has been treated to
highly conflicting reports appearing
every day and for that matter sew
eral times day. According to the
best obtainable unofficial advices
there have been highly exaggerated
reports of damage to spring wheat
due to alleged lack of moisture. Such
injury as has occurred, 1t Is believ-
ed. is confined thus far to a small
area Ol Ine "Hcdl Delt, anu LHe carry
promises were such as to leave ample
margin for deteriOrations.
Commodities and Business.
The great commodities. wheat, corn.
and cotton. have undergone wide fluc-
tuations during the week in response to
the conflicting crop and weather ad-
vices, and this evidence Of an active
speculative interest IN commodities
ought II provide sufficient explana-
ton Of the origin and purpose of the un-
ordinary observer. Many of the reports
are unquestionably colored to conform
with the market positions of certain
large operators. The weekly summary
of the Weather Bureau, on the crop
conditions Of the week, left something
to be desired, however. and in conse-
quence the next Government crop re-
ports are awaited with much interest
as throwing some definite light on the
situation. Until the cotton report is
published on July 3, and that on the
general cereal crops on July TO- there is
sure to be some uncertainty in the mar
kets.
or general business conditions very
little can be said that is novel or III
teresting. The leading trade authorities
report that the actual volume Of business
throughout the country continues wei
under producing capacity, but any
change that is slowly taking place ap-