The Washington times., 1912-06-09

ably has improved. There is no inten-
tlon here to justify the upbidding Of
cats and dogs, or to defend the excess
sive. prices to which certain non-divi-
| dend paying shares have been raised,
put aside from this It cannot be denied
that Industrial properties, large and
small have given very good account
OF themselves during the long drawn
out period OF dull business, and that
| entities them to more consideration
| than before they were subjected to a
severe test. And so It may follow that
| some persons In the financial district
are not reading the signs Alright in the
present peculiar market. However, that
| is matter which time will surely de-
! termine.
Improving Harvest Conditions.
The most encourag ging features of the
news of the week were unquestionably
such as bore upon the conditions of the
growing crops. II must be admitted
| that sensational reports Of damage in
the Southwest continued and caused an
early advance in wheat, but the Gov
| ernment weather report dealing with
conditions in the harvest districts gave
practically no confirmation of the ala rm-
ISL adVices, and an abundant rain I'm
the latter part of the interval in the
trans-Missouri sections where Il was
most needed, was followed by a price
reaction. In trade circles opinions are of
|
fiuential element do not subscribe to
Inc recent calamtous advices Of crop
Damage, yet II Is believed that some
ueterloration will be shown in the Gov
erninent crop report which Is due on
MONDAY, and which Is awaited with
deep interest.
1t would surprise no very careful OBJ
server II the grain crop report should
turn out, as did the first cotton crop es
innate OF the season, published on
tuesday, which was better than ex-
pected. While first estimate on cot
ton conditions, without an estimate OF
the acreage planted. is valueless for
purposes of computation and compari-
son, the condition itself of 1873 per cent
OF a normal crop, on May D. was above
that looked for in the trade and It is
In fact but 2.6 per cent under the ay-
erage at this time for ten years. II Is
however SO per cent below the show
ing. at this time. OF last years phe-
nomenal cotton crop. Next months
| actual estimate will be really import
ant on the staple for from II one may
determine how much OF the damage in
the mississippi valley has been over
come by favorable weather, together
with a knowledge of the sown area
Basic Industries Are Better.
OF greater interest perhaps from the
speculative viewpoint that the crop
advices was the report of the Copper
Producers Association. which appeared
Friday. and contained the details OF
the production and consumption of the
red metal In May. The showing fully
| confirmed the optimistic statements of
the copper interests concerning that in
dustry which have been current in the
financial district OF late, and gave an
adequate and logical explanation of the
strength OF copper metal and of copper
shares. Production Of copper Increased
over the preceding month by l,273.co0
n htts In. -.
ments OF 16.233O0o hounds and an in
| crease Of domestic deliveries Of 3lSs 900
pounds. resulted in cutting down sup
plies by 10. $4,000. so that the surplus
~ 6l5.643 pounds, contrasted with l57, 49,
600 year ago.
Copper metal advanced about y cent
during the week. to l7'Sdl7k cents for
tlectrolytic. but the Significance OF the
strong statistical showing rests, OF
course, in the fact that copper has
come to be regarded as a barometer
Of trade fully as accurate in the read
!ngs as iron and steel. and many per-
sons claim that 1t is more accurate as
an index. as the metal Is less sub
Ject than iron to the control OF a great
dominating influence. But the advice
from the iron and steel industry was
also encouraging, both as to the in
creasinG production OF pig iron and the
sustained volume of new business for
finished steel products at better prices.
Both of the recognized barometric metal
industries. therefore, gave encouraging
readings for the future of general busi-
ness. and thus furnished a very sub
stantial basis for Wall Streets growing
confidence n the future.
Politics and General Industry.
Perhaps as encouraging a note as any
which has reached the financial district
for some time vas contained in the
June circular of the Fourth National
Bank, summing up the future OF bust
ness and the effects Of the Presidential
campaign on general industry The
bank made an exhaustive inquiry among
leading mercantile establishments,
Wholesale houses and manufacturing
concerns throughout the country touch
ing business conditions and the outlook.
representative merchants in every sec
ton being solicited for their opinions
The consensus Is as follows: First,
very definite improvement in business
conditions from now on; second, rela-