New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-06-09
FINANCIAL RECORD
HERE AND ABROAD
War Stocks Active-CrOp
Report Fails to Move
the Market.

War stocks were the active section
Of yesterdays market. advancing
feverishly in the early trading and
falling back an the afternoon With
promise Of the creates; harvest Of
wheat in the country's history. stock
OF roads that would carry the yield
to market were exceptionally quie:
Word from Washington that delay in
sending this country's message to Ger
many meant no recession from tho
position we bad taken IN asserting
the rights OF our citizens to trayeI
the seas unmo,csted discouraged OPP
crationS, save those Of professional
traders
Again 10 was reported that the Pres
idents message would be sent at once,
and rumors Of modification Of his
terms ana negotiations looking toward
peace failed 10 affect the mar.et after
the early trading. IN thu af'ern )c1
active issues wcco decidedly rclcrCn-
airy. in many inslrcts falling BACK |
TO , points from tnrir bes. Of TIC cay
and closing close TO their lowest
Report chat the Southern Pacific
had been defeated by ,hc government
In action over oil lands was inAuen-
tial in the decline.
Bethlehem Steel. as on Monday,
was particularly strong, advancing 10
points TO a new high record at lG5.
Accompanying this rise were reports
that the Cramp ShipbuildinP Com
rany was TO be absorbed. but this was
denied so far as the Bethlehem Steel
COMPANY was concerned Copper
stocks were notably firm in the fore
noon, with reports from the trade that
the metal was in strong demand and
that 20 cents q pound was looked for
this week. Before the close, however.
much of the early gains were lost
and in aome instances changed to net
declines. United States Steel lost
more of its recent improvement, Read
ing and Union Pacific each closed a
point down and Southern Pacific off
more than a point.
Last month the governments crop
report was forgotten in the excite
mcnt that followed the sinking Of the
Lusitania. Yesterdays brilliant fore
cast. received in the last hour. failed
TO stimulate the market. Prediction
of a total wheat harvest OF $50, 100000
bushels met the best expectations.
After all the talk of damage to the
winter wheat through depreciation OF
insects the condition fell of only
points from normal, though in Kansa.
Oklahoma, Illinois and Indiana con
siderable depreciation was reported.
The increase in acreage of spring
wheat was about as large as looked
for. and the condition given was alb
normally high.
harvest year ago was not lO,OOO'OOO
above the actual yield. This year
10000 900 bushels more is expected
and with reasonable good fortune.
since the fields are so well supplied
with moisture, another bumper crop
at time when the world will still be
looking to this country for food may
be expected. ., ~
With grain shipments naturally fall
ing off as summer goes on, our eX-
ports are still maintained at hlgh
totals. The principal customs districts
last week reported shipments OF over
S44 COO. 900. which, while the smallest
for some time. still furnish an excess
Of Si7OOO.000 above imports. BRUSH
BOARD of Trade figures show that
country exported in May nearly tl5,-
600 coo less than in the May preced-
ing and increased its imports ST.
600 900.
The principal reductions in export,
from the United Kingdom were in coal
and coke and in manufactured artl,
c c,'e the hope that England cherished
in the carly days of the war Of seq
inr Germany's markets for her manu-
features having given way to the ne
cessities of war.
Sterling rates here yesterday we're
steady engagement Of another s.,
500. 900 gold in Canada being reported
IN foreign exchange circles. Money
continued in liberal supply at the pre-
vailing low rates.