The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-09-12
ElCIlON COMES
IN STOCK MARKET
nosEMENr rs GENERAL. AND buE
tsR.ELY To CALLING IN OF
LOANS.
CALI. MONEY GOES UP
rks.reRFs FROM NORTHWEST TELL
OF BUMPER CROPS AND OF
HUGE YIELDS OF CORN
ExpECTED.
AZ THOMAS C. sHoTwEaI..

NEW YORK, Sept IA reaction
RAINING a point and more in active
! sxsnes. came in the stock market to-
.sfay The close was heavy, with
4 prices near the lowest Of the day. Inc
movement was general, and was due
largely to the calling of loans by
acme banks. The decline means moth
ing more than the correction OF
technical condition 4 bear market
h an irnpossibility now or any time
\ il the near future. but further de-
Z cline may be expected while the big
operators are making arrangements
for beginning the big campaign Tor
higher prices that is scheduled as
result of the tremendous crops and
the worldwide Improvement OF bus
mess.
CAN Money Goes Up.
Cali money went TO IA per cent
bat time money could not be loaned
N any price in any volume. The rea-
son for the advance in money is
thoroughly understood, and creates no
alarm Banks are naturally taking
i advantage of the necessities OF bust
ness 10 make as much money AS they
can, and bank stocks were ia good
demand today Nothing like "a crisis
4 is threatened in money. There is no
cart for any deposits by tine govern
nasrt in the banks. Deposits, such as
talked about by the government. would
cause trouble. for they would be ae-
cepted as meaning that crisis is APP
preaching. and for every dollar that
Secretary Macveagh might deposit
with the banks depositors would with
draw ten IN anticipation OF smash
In stocks with an opportunity to pick
ap bargains. Because of this, the
conservative bankers are urging tins
secretary not 10 make deposits.
Farm Horses Die.
From Kansas there carur today ont
n unpleasant note in regard tn the crof
outlook for next year. Ii is officially
4 announced that In the last five week.
TEN thousand farm horses have dice
OF a new disease that is spreading rap
I idly through the great winter whea
Il Districts of that State. Nebraska, west
ern Missouri and Oklahoma. SeedinI
al winter wheat is being seriously in
ferfered with, as many thousa M
horses are sick. and unless the diseas'
Is checked all farming operations ar
likely to be seriously crippled
Crop Reports Optimistic.
At the same time fresh report
q from the Northwest are SO optimistic
that Wall Street Is not satisfied witt
describing crops as bumper, hut ha
Il snyenfed the new term or uuplel
bumper" crops Nothing like the pres
ent conditions was ever known in thi
country. This taken in connection
with the crop failures IN Europe
means a heavy export OF all agricui
4 tural produce from the United States
Steel Cuisines. Good.
Another strange fact IN that, II
spite of the bad crnps in Europe. III
steel business there is about the bees
IN record with the mills alled up t
their capacity just as they are in tn
United States With the foreign mill
congested. there is no danger tina
manufacturers abroad will be tryini
D 10 break into the American market
u whether the tariff Is reformed or not
At home the steel business is ever
4 better this week than last, there be
ing no Signs of siaekening demand
+ hut rather the reverse. Advances o
ffarn So 10 "a a ton were announce
today on various products, r8Hg1n
h from black sheets to steel pipes. Tn
advance of SO a ton on black sheet
& makes II almost certain that the Ma
tional Enameiing will pay u dividen
Of So "a share on it's common stoc
Mt the end OF the fiscal year. whic
i will be in February.