The Washington herald., 1913-08-17
UNDERSTANDABLE CONNER CE

ernment, bonds, no special issue being
provided for.
One banker, misunderstanding the pnr-
port, wished to withdraw Is from circu-
lation. substituting IS therefor, that he
might put up the Is as rart security for
deposits. Any governments Will do.
Tax Money Retarned.
Secretary McAdoo conceded the reques,
of the bankers of the District that they
return but 10 per cent Of the tax money
to the department during August. instead
of the 20 per cent as originally pro-
yided.
Usual payments are made 20 per cent
in July, 20 per cent in August, and there
after 10 per cent. The reiief offered
helped the banks by 100000, a ;Afge sum
in view of the money strinsency.
Bond Issue.
The Washington baseball club has ar
ranged for the sale of 100000 first mort
gage per cent bonds, secured by all
the real estate belonging to the clue.
concrete stands, &c.
This issue, which will be on the mar
ket early in September, provides for the
payment Of $500 year for ten years,
balance having twenty years to run from
date of bonds.
The club is taking this action to finance
itself for a period OF years, to refund its
obligations.
That such e rate is possible at this
time, when per cent loans go begging.
IS considered a high tribute to the ex-
cellence and ampleness Of the security
The entire issue has been taken by .
leading city bank.
Application for listing on the local
Of xptI ha hon To-
sued.
Stocks Close Strong.
Weakness as a leading feature of the
New York stock market was conceded
by practically every one before the bell
tapped for the opening. A drop of 1-2
point that followed the opening was in
keeping with the sense of dis
appointment felt over the serious condi-
ton and danger TO the corn crop. Every
one was bearish and talked of the re-
action due, the more SO because of the
recent advance which has again placed
stock in banks. &c.
Further recessions on strength in Cot
ton; on reports of falling of in the
iron and steel business just when the
needs the highest degree of
Further declines of 1-2 point
were noted. and the market settled down
to quietness, save here and there where
bears were cunning for stop orders that
were hanging over the market.
And Then the Change.
And then the change came, as unex-
pected as it was pronounced. The big
fellows took fresh hold on the list, just
as they did ten days ago. and started
Dne of the neatest rallies, with complete
of nearly all losses. and then
forced general advances extending in the
leaders, Union Pacific and Reading. to a
full point, while 1-2 point bettermentS
we're numerous. But the movement was
argeIy confined to the market leaders.
The gossip of the Street was unimpor-
ant and had nothing TO do with the
action of the list in the final half hour.
L was q complete reversal Of form.
Steel closed at 63, IA better than the
ow. Union Pacific dropped to Isl IA. a
oss of Is, and recovered to i53 5-S, a
net advance of 11-I Reading closed at
60 S-4, as compared with 159 5-s on FRI
lay. Northern Pacific was 3-s higher;
ireat Northern, H.: Canadian Pacific.
IS; Copper and Can. IS, and minor
shares 3-s higher; Mexican Petroleum,
81 lower.
Crop Reports.
There was some little encouragement IN
I drop i'm the price of oprn for the differ
ent deliveries and stories of little rain
Iere and there through the suffering ois-
.ricts.
While the corn bulls have sreaped large
Profits and have been invariably right,
he chances are for sufficient yield SO
hat the damage will not create a ma
.ional calamity
Lo! the poor Farmer.
It begins TO look as II the great pros
2erity of large number of Western
might be seriously impaired. But
he farmers are not in the qua ndary that
politicians anxious to do something, any
hing TO win approval and votes would
lave us think they are.
For some years past the agricultural
have prospered greatly;
ugh prices. quick marketing, the cniy
egitimate way, AMI great crops have
made them Independent. Modern ma
hinery, good roads, government aid. au-
omooiles, traction engines, &c, hare
lelped tc fstten bank accounts. Farmers
Is class are not poor, unless they are
and, machinery, automobiles, and imple-
nents poor.
But the farmer, heaven bless him, will:
-lwaHs be the subject of close consider
tion, co!nmisseration. and kindly assist