The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-11-09
Rx THoMAC C. sHoTWEIL.

BY THOMAC c. SHOTWElL-
NEW YORK Nov. s.--Although all
the news in Wall Street today was
such as would tend to increase the
value of stocks. the market was GONE
what reactionary. The reaction was
due TO the rapid advance since the
election. Although a strong bear
party attempted 10 raid the market
] In the morning. the stocks were all
well taken. The big people seem
70 be waiting for the fall of Con-
etantinople and the decisions from the
Supreme court on the anthracite, the
Union Pacific merger. and the Min
Resota rate cases In the meantime
they are satisfied to stand and take
what the bears have 10 offer. The
close was quiet, with fractional losses
showing in most issues.
Two new high records were estab-
lished during the day. one by Chino.
at so Ia. and the other by Scars
Roehuck, at 2eI. Chino was intro
duced to Wall Streetat s. about three
years ago. St. Paul continued
power OF strength. and the accumu-
laticn of Missouri Pacific attracted at
tention.
Crop Report.
Although everybody was prepared
I for a good crop, the announcement
made by the government in regard
IS 10 corn was even better than had been
expected. The total crop this year IL
given at 3,1sa.i37.oo bushels, which
4 compares with an estimate a month
ago of s,0l6,000. 900. But more Inn
peptant than the number IT bushels
fe The report as to the c.ality OF the
grain. This year the quality Is
II 1911 per cent, whiaa compares with
| Il quality Of sos per cent last year.
The ten year average Is $40 per
cent This means that all the corn
4 this year Is big ears of solid grains.
- that every bushei is available fol
food 1t means that this years crop
III twenty-five per cent more than last
n years crop, and the most conserya-
tive statement that can be made In
regard to the corn crop Is that TINS
4 xear's harvest is the equivalent IN
hseyerys way of four billion husheis OF
any other year. AS the farmers nave
fewer animals than ever before 10
& eat the corn. the export movement
" should be enormous. incidentally
4 prices will be lower, and that may
81 hare an important bearing on the
Of securities later In the season
.se cotton crop. as estimated by
41.s government today, will be about
shirteen and half million bales. Elk
n norris OF cotton are running aoout
a heavy as they did year ago, and
the price Is only 81 a bale less. the
u heavy movement of grain and COTTON
Il - making exchange fast, ana Is more
than balancing the sales OF American
n cecurities by Europe. Another oatcn
#aof European stocks, by the way, ar
\ rived in Wall Street today, the anonh'
4 being estimated at something petweeI
ten million and fifteen million dollars
worth.
Copper Prices F1rm.'
The conner producers reported tha'
Il stncks of metal on hand the first OF
4 November were 13.6Ts.sfI pouhos
f greater than on the first or Octoper
u Trhe price remains firm. This IN
crease in stocks is not bearish argu'
N rnent on copper securities, because u
4 there had not been an increase %
Sxtacks. and If the price OF the meta
had advanced much higher. users o.
{ conner would have turned TO othei
ma teriais and there would have beer
u severe slump which is now pre-
q wanted nv the increase of the metal
f.wautd be- the best thing for tnt
d d ,.nprer securities If the price couk
NJ fall back under seventeen Genus
pound. ..., 4,
81 The fact that the copper situation II
8 considered healthy il shown IN th'
Drtcf. today of Chino and BradeH' t"'
~ the low cost producers ana ais'
In the inquiry made for oonos Oh Inv
d Mason Valley company. new com
pnrv that is lust beginning 10 attrac
attentjon with it's production raised Il
yha basis of about twenty mlilfof
s,anuds year Chino is expected u
~. n four dollar share ,olViueht
ss Seetnninr with the new year, ant
y Asson valley a two dollar SHARE
rata Nevada Consolidated, and Ctat
81 both displayed strength today
Steel Announcement To-Day.
The United States steel corpora
tton will announce at lI:oa oclocf
Nh snmorrow morning the volume OF IN
and orders on Ats books the frs
~ November. Wall Street expects tt
Il nee an Increase OF rve hundreN
Ri thousand tons.
Some eheerfulness was infused int
IN 4he market by the action of the IN
4erstate commerce COMMISSIONER II
Is rermi.ting the advance of Few
& r.fes in the Ohio river district the
n Illinois Central. which operates party
b II that territory. reported TO-DAY an IN
Sss Grease of s1.250,74S In gross ehrrihss
FOR the month OF October. rms Ioao
Il is finally getting back into gooo W.
*S irr order. and it's reports or earn
K ingx will Justify all that was said last
NJ rnrfng regarding the y-->>s or the moo
RI ~ the Mississippi Valley.
money did not go above per CEN
Nj sndav and the banks showed gains
&0f about sl,0o0,ooO on known move
NJ saentx.
Nurnber of shares sold today, $751;
n. fxE: u year ago. T,i5T,s52.
Par value of bonds sold today, w.
81 e03, 0oe: year ago, s4'io4'eoV.