The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-08-16
D|e CROP INFLUENCE
IS SH0WInG ITSELF
suS,s REVIEW OF THE MARKET
Good News Of Crops OF the Steel Trade
ana industrial Conditions Generally
ossSpt Eject OF Disturbing IN
fsuenccs.

81. yovx Aug 1.-THE sun tomor-
row in its review OF the financial So
nation will say:
There were several interesting deNei-
.,n.,,s Of a financial bearing last
.sxak hat ovsrshadowi all others was
-. wovsrr u,ent's August crop report
exporting practical assurance OF year
- abundant harvests- The report
.vo,v,,sea not only the LARGEST wheat
sran ever gathered. hut an aggregate
:, n,a.r important crops never before
surpassed.
~n~ influence Of the big crops Is al
-sadv showing itself in spreading
81 confidence and in actual business ca
,ans.on In those quarters not a'Fee'''
,~.c,sd nv the war order business
49,. uas more testimony during the
49, of a broadening out or actlFltE
- az steel and iron trade. Inc steet
-',--nration's monthly statement OF eh
erss tornaSe published during the
s~swx showed an increase OF -9"'e1
- which. making allowance TOT we
htvher percentage Of operations IN INV
usslls il is considered hiEhIy ss'tH
f.e4.-y. Reports from the fit'sou.
sistriet are that the steer trAHe nsS
sarnost completely recovered ironi 80
rsrrs. depression and ~ now eh9oS'hs
q boom. ..
rxport business CoaEeSt"'
-hs tremendous export business mas
..assA real congestion of orders IN
tna market for certain proaoous
sansfal 20 the manufacture OF w"
munitions Prices are rising tSpteis
al around and some mills nave 49,
wt.harawn from the marker. ihe
n,aasinR feature OF the steer anu - va
h,,.iness ~ a sensible enlargement vi
~. s~.as,,n demand. which lends the
eurren, activity an air OF pern'ahes
psttroad buying is still slow, out III
,rssw az the present state or anaifs
s,ha delay in this quarter ts regaFoeo
more as a blessing than an eVah
Good news of the crops. OF the steer
.r.ae ana Of industrial conditions gem
erailv did much TO onset the auNe' SO
sfyecf upon sentiment OF the oec'siouS
~ the Interstate Commerce eotni1iis
sion in the western freight fA'e
Anfhracity cases
,.arttabie collapse In the exchange
.-.ar,eat ana a spectacular importation
~ gold were both events that lea 10
Xaueh discussion. The need OF orhsNc
,rsansures to correct the abnormal con-
I Ss,lop Of the exchange markets mas
ne, obvious for come time. II IN
sar4o.s In that IL reflects the difnculty
~ Great Britain TO make payment
for the supplies bought here and pns-
iress prosperity depends greatly upon
this war business.
some War stocks Lower
rut the latest decline in rates oniy
emphasizes thia problem rather 'hah
ouens up any new question: F"r ois-
ruxston. Bankers here and ABROAD are
negotiating on the best means OF NEE.
ing the situation and everything tsnos
10 show that the time mas a ~,
vher some definite action VIII be
$3.50 I, iH still the Impression thhf
ariv the establishment of a big French
candidate here Of long loan term Will
\ be finally settled upon. q
Th. stock market in the early part
~ the week witnessed another broad
onward sweep in prices under the
leadership of United States Steel corn
mon. But under the influence or the
adverse developments outlined ana 9
sur4hsr distributing element Injected
~ the Mexican situation prices re-
acted. losing a portion of the ground
gained. Some of the war stocks, wnich
had been bid up in sensational man
ner underwent a purgins process
Z which brought them down smartly
pu, the feature OF the market con-
fspued to be an exhibition or great
anasrlying strength and the setback
d assumed nothly7E r-~e than the d.
nnensions and characteristics OF nor
yssai reaction. At the close of the week
B there were no signs that the main
trend OF prices had been interrupted