The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-06-09
B|e WHEAT CROP IS
MAKING FOR OPTIMISM
bot Markes Is Vet In An Unccrtair
State Due to War
Talk.
wiz MINOR OIL LAND SUIT
Market Closes In Heavy and Unsettled
Condition. But With No Marked De-
cline In Values.

New York. June S.-AHhouEh Wal
street was supplied with more news
today in the excellent government
crop reports suggesting a possible
: W heat yield ef ESQ. zoe GOO bushels this
Z year and. although in other direc-
tions there were considerations which
emphasized the factors which tended
TO strengthen the encourage de-
rived last week from the decision in
the United States Steel suit the stock
market was still prevented from
making any sustained reflection of
bulhsh factors.
There Is no argument IN the con-
tingencies Of the controversy with
Germany for selling securities in the
face of the present crop position and
prospect, the Extraordinarily easy
banking situation and all around
capacity Of financial conditions TO &C
commodaie strain, the obvious change
OF politics 70 constructive policies re-
Earding business and the powerful
foreign trade stimulus which has
been provided for general business re-
covery. Sensible buyers will undouht-
edly hasten 10 take advantage of any
declines in the stock market resulting
from such weak selling as may be
caused by spprehensions on interna-
aonal accent
Uneasy Over Situation.
At the same time the uncertainty of
our foreign affairs continued TO make
for stock market trregularity today,
and il was manifest thar speculative
uneasiness over diplomatic develop
rsents vas aggravated by signs of a
split in the cabinet at Washin gton.
Professional operations seemed re-
sponsihle for the bulk of the days
dealings which were again on a fairly
active scale, In the forenoon there
was a general display of strength but
the upward movement halted before
midday ny realizing and in the after
noon efforts on the short side attained
some success. The close was heavy
and unsettled and while the net losses
for the session were not important
declines from the best figures were
ssihsta initial although some good
special gains were disclosed. In the
early afternoon an extravagant use
was made of advices that the govern
ment had been able to keep before
the courts some oil land suits in
wolving no very large area against
the Southern Pacifc's petition TO dis
miss them.
The principal contention in the
governments litigation against the
Company was settled last year in the
Eompany's favor. but the technical
point just decided furnishing an OPP
pcTtunftS To excite some selling OF
stocks because the railroad list had
been commonly Disseminated against
lately. This selling movement did not
last long, but in the last hour the
rA$ket fell away under the influence
Of the doubt felt about the new Wash
ington note to Germany and its i'm
mediate consequences.
Confidence VS.. Uncertainty.
On the whole IL was inferential
from the features of the financial day
that fundamental confidence In the
prospect of values was still contending
against the superficial uncertainties
of the moment.
There was rather extensive ah-
eorption of stocks in the metal groups
although advantage seemed TO bs
taken of the demand to realize profits
in certain directions. conspicuousiy
copper shares which were supporte d
by the raise in the metal to about the
kwenty-cent level.