Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-10-12
WEEK UNCERTAIN
IN TRADE MARKET
Doubt as to New Tariff Fig
ures Explains Halt in
Buying Orders.
PRICE OF COPPER FELL
BOTH HERE AND ABROAD
Corn Yield Increased and Cotton and
Winter Wheat Prospects Are Re-
ported to Be Improved.

NEW YORK. October 11.-Uncerta1n
prospects for trade the money situation
and governmental relations to business
all entered as factors in forming the pre-
vailing sentiment in the securities mar
ket this week. The unfavorable deduc-
lions drawn were reflected in the down.
ward movement Of stocks.
OF trade prospects. conditions in the
steel and iron industry were most infiu-
entail. Doubt as to the effect OF the new
tariff rates explained the halt In buying
orders. Consumers hoped for lower
prices and held back. The extent to whicn
imports will compete is con5ectural. with
the trade contraction setting In through
Germany as a complication. The United
States Steel Corporations untitled tom
mage orders for September 30 showed
decrease for the ninth consecutive month.
There were reports OF price cutting by
independent producers.
The decrease in supplies Of refined cop
per and the reduction OF the worio
stocks to q figure marking eXtraordfnary
statistical strength did not prevent fall
in the price of the metal, both here and
abroad Future demand is not relied on
as SUFFICIENT to take up the scanty sup
plies. The stress laid on railroad buying
as a necessary element in sustaining both
the poor statements Of net earnings OF
the great railroad systems
Increased Corn Yield.
The crop influence was alleviated to
some extent by the weeks events. The
government report increased the esti-
mate Of the yield Of corn for the month
Cotton prospects were improved; the
weather conditions were said to be favor
able for planting of winter wheat
Poor railroad earnings drew attention
to the contest Of the railroads Tor nienel
freight rates and against wage advances
to eastern trainmen
Government activities were taken into
account in the tendency Of the suit to
separate Southern Pacific and Central "a
cific and in the progress OF the banking
and currency bill.
Money markets showed the autumn
forces of depletion still at work, with
higher interest rates resulting both here
and abroad. Customs payments on I'M
ports released from bond by the new
tariff law made drain on. the new YORK
market. acquisitions on Londons goio
supply held that money market hrm. A
fresh food Of new capital issues there
and on the continent awakened mis-
givings.
Steel Mills Disappointed.
The volume of business IN rolled
products was disappointing to the steel
mills this week. and the tendency OF
prices downward. Thus far the erect OF
the new tariff has been to curta1l ~pusl-
ness, as consumers, anticipating lower
prices, remained out Of the market. On
the other hand. foreign competition In
the home markets has been almost
negligible to date. and there has been
no occasion for the mills to reduce fur.
Their, but in the last six weeks steer
billets have receded So per ton. steel
sheets even more, and ttnplate 81 Per
ton, or 10 cents per base box
Last week the railroads placed orders
40 GOO for the Great Northern, 5000 for
the Chicago Great Western and 5000 for
the Jersey Central. Steel building or
ders, outside Of railroads. called for
1900 tons steel shapes.