The Washington herald., 1912-09-09
MANY ANGLES TO
STOCK MARKET
Government Report, Copper State.
ment and Maine Election Re.
suit Big Factors.

New York. Sept. S-WaIl Street will be
very busy this week with the govern
ment report. Copper Producers Associa-
ton statement Of supplies OF red metal
on hand in this country. the election in
Maine. United States Steel Corporation
untitled tonnage statement for August.
and the initial meeting of the board Of
arbitration appointed in the dispute be-
tween the Eastern railroads and their
engineers. Surely fnanciers, spectators.
and investors could not ask for a larger
collection of developments from which
to draw conclusions relative to the prob
able trend of security values.
Interest Monday will be directed chiefly
on the governments September grain re-
port. to be published at 2:15 p. m
Special attention will be given the
probable yield of corn. for this Is the
most important crop the United States
grows. The major portion of this COM
modify comes to market on hoof. so that
II will furnish consumers an index to
the probable trend OF meat prices for the
next year. Best estimates places the corn
crop at about 2,9l0O00. 900 bushels. or 37s,-
$1,000 bushels more than final harvest
last year.
Grain Outlook Good.
The principal grains-wheat. corn. oats.
and barley-will. according to Indications,
show an increase Of approximately Ss.-
OOo 900 bushels over last year. This does
not include the potato and hay crop. The
yield of potatoes will probably be s2.-
$4,000 bushels larger than last year.
while hay is expected TO show an in
crease OF 2s.556. 900 tons. II was the short
age Of potatoes and hay that helped in
crease the cost OF living the past twelve
months.
Wall Street is waiting for the grain
report with bulIish expectations. 1t is.
however. very rare that the September
report on these crops are not known in
advance and perhaps discounted.
In certain financial circles II is be-
lieved that the result of the enormous
tonnage of crops and the consequent in
crease in the volume OF all merchandise
will so greatly tax the railroads and
transporta tions as TO cause a congestion
which may appeal to the powers that be
in favor of higher railroad rates and
more consideration to these corporations,
thus enabling them TO secure better
equipment for future emergencies OF a
like kind.
Bond Market Weak.
The further shrinkage in cash above
reserves reported in Saturdays bank
statement does not argue well for the
bond market. 1t foreshadows additional
selling OF securities by the banks TO Sc
cure funds with which to accommodate
their customers. AS the banks hold the
better grade of bonds. II is expected in
some quarters that their intentions will
be marked down to a level where the
Issues available for sayings banks funds
will show a return OF il-2 per cent on
the investment
Despite the decline in high grade bonds
to new low records. investors continue to
hold aloof. The drop in New York City
bonds the past week to new low records
directed attention. probably more than
anything else, to the condition OF the
market. New York City obligations are
considered to be of the best type. and
a person with surplus funds cannot be
expected to show a marked desire for
investments when some of the standards
in the bond market are declining.