The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-10-13
BIG, BUSINESS FOR
YEAR IS ASSURED
GOVERNMENT CRoP REPORT ~
GUARANTEE TO INDUSTRIES
OF ALL KINDS.
DEMAND FOR STEEL
THIS INDUSTRY HAS NEVER NE
FORE BEEy so ACTIVE AND
BALKAN WAR Is NOT
a SCARE.
DEMAND FOR STEEL
sv CHARLES w. STORM.

NEW YORK, Oct. 12.-CommerciEl
and manufacturing interests received
assurances from the government last
week of at least one year Of big bust
ness. These assurances were given in
the shape Of the crop report which
promises record commodity produc-
tons.
Whatever doubt there was concern
ing some Of the crops was removed
BY the publication of this report. II liz
estimated that the leading crops being
raised this year will be sold at an ad-
vance of one billion and one-haif dol
lars compared with the total money
received last year. Such an increase
in the purchasing power OF the far
fners cannot help, but be reflected by
larger purchases by the tillers OF the
soil Larger buying by the farmers
will give additional business to the
industrial corporations and railroads.
II Was, therefore, only natural that
~ccks Of Industrial and railroad cor
porations should IN many instances
begin TO discount the greater earn
ingS expected this year. Several is
sues touched new high records for this
movement
Steel Business Great.
While all industries are showing
Improvement IL would not be making
a misstatemen1 to say that the bust
ness being done by the steel compa
nies is probably the greatest in their
history. This was partly reflected oy
the untitled ton@age statements is-
sued last week by the United states
Steel corporation. Orders on the
books OF the corporation at the end
Of September were the greatest on
record with the exception OF June,
1907 when orders received from SUD
salaries were also counted.
One large independent steel com
many advanced the prices OF plates
and structurais s. ton. and this IN
crease Is expected TO he followed by
the other large concerns.
Announcement that the supply OF
copper metal in the United States on
October LIST, was 100000 pounds
greater than on September LIST, was
construed bv copper producers as raw
orable !nasmuch as it will tend to keep
the price Of the metal below eighteen
cents. The Amalgamated Copper com
pany is expected to increase It's diVl-
dend in view Of the large profits being
received on copper sold at present
prices. and the greater income II is
receiving from the Anaconda Copper
Mining company.
War 10 no Scare.
Europe continued to liqIidate Amer
tcan securities last week, and 1t is
estimated that foreigners nave SOFA
about $4,000 shares of America n
stocks In New york within the last
ten DAYS The money to be received
from the sale of these securities Is
estimated at about $50, 0nh, 600. The In
centive for the selling OF American
stocks by Europe lis found In the Bal
kan war. Large American banking m
teresrS, however, cannot see how the
Balkan war can interrupt the pros
perity now in progress in this coun-
Try.
No apprehension is felt in connec-
tion with the money market Inc al .
vance In call money rates on Thurs
day caused little concern. for many
bankers are of the opinion that time
money. before the end OF the year,
probably will rule close TO four per
cent. The inactive demand Tor tne
loans is due to the fact that many Dor
rowers recently took more money than
thew actually needed.