Arizona republican., 1916-07-25
MARKET NEWS
By R. Allyn Lewis

The market has fallen into a condi- ton of apathy. A ten point break in Industrial Alcohol failed to stimulate selling and the numerous war contracts failed to stimulate any buying.
 The Steel Co. and the American Hide and Leather Co. hold their meetings to- morrow. It is hoped the former will declare an extra dividend and it is believed the latter will back on the dividend list. These two have been of the strongest industrials in the list. It is hard to bull Car Fdy. on talk of an s1S,00O,OOO shell order when last year the company earned less than 1-2 per cent.
 American Locomotive, Baldwin and others have got to show something before new buying comes in.
 Easy money is always a bull fac tor We have that now The adjust ment of wages between the railroads and their employees is likely to be settled by arbitration. With a market | that has no tendency and practically no feature, it is difficult to guage it's cratic quotations, but there is one 1 thing sure-that the public will have to receive some sort of a new stimulant | to whet their appetite for industrials. Spelter market continues to reflect ! rise in London. Foreign inquiries are | increasing. Buyers not very sangune, l because number of large inquiries | failed to materialize. Domestic in- quiries also increasing.
 l Utah Metals declared dividend of soc | a share.
 1 In spite of the denial last week that ] Marine would be taxed 77 per cent of their net earnings, the announcement comes from London today that such is 1 the case.
 ! WHEAT-Crop damage advices con- tinue to increase in seriousness and numbers. These were the all-import- ant considerations all day Neverthe- i less the market showed slowness after the opening and profit taking sales caused a backset of Ito l 3-Sc below Saturdays close at one time The 1 largest decline was on the run of ar rivals at primary centers. Of today's run about half were at Kansas City and St Louis as these were the strong est markets The effect of the big ar rivals soon disappeared. The damage reports which had been numerous dur ing the decline were reflected in high CT prices at Minneapolis and Winnipeg and the crowd who had figured tha' rust news had been worn out and solo 1 wheat, rushed to cover and took tn, long side, carrying prices up 4 to l.. cents from the low, the market closing at the top. The demand for wheat wal the strongest as the bell tapped. Ther' was a little business done in eXpor
 wheat from Omaha and seaboard ex- porters who were short to the othel side of the Atlantic were bidding a
 interior points. Export sales at thu seaboard were estimated at 500,0 900, al
 most entirely Canadian. Cash sale
 here +, 5,000. Advices from South Da
 kota today were the most serious o
 all but there was every indication tha
 North Dakota was in almost precisel!
 the same position. There were man,
 intimations also that the Canadian
 crop could not escape damage and in
 fectation having come so close to tn
 border. Millers took wheat freely a
 primary points. The extension of tn
 heat and rust damage over the sprin
 wheat region with reports of rust ap bearing in Manitoba should give tn market a strong tone for the next tel days as it will take that long to de termine the extent of the loss.
 CORN-The corn belt has had n material damage from hot and dr weather since close of business her
 Saturday and it had a stirring effeo
 on prices. Liberal selling of July earl
 by leading longs helped depress a futures. A leading cash concern alS r sold. The decline was met with stead = absorption of all offerings. Reports ( : hot weather damaging corn wer numerous from the southwest, especial 7 ly from Nebraska. Kansas report V 1 claimed immediate relief was necessar II to the crop in that state. Cash peop claim country sales at the advance wei
 considerable. SeabOaTd reports elaine
 a small export business was done. Gas
 sales here, s, 900 bu. Cooler weatht
 over the belt is predicted for the neJ
 two days and will doubtless ease O . prices, if materialized although in tf
 main, corn will follow the wheat tren
 OATS-Only slightly affected by Il
 advance in other grains, and close
 with only a fractional advance. Thel
 were some very good reports concerr ing yields in regions adjacent to tn market. Some hedging in the pit ar
 the effect of the sensational strengt 7 in wheat and corn therefore was offs
 to a considerable extent. Seaboal y reported only small business done
 export. The new crop news is n v discouraging to the bears but the d.
 mand for the cash stuff will hold Ju I to high level and restrain selling | the new months.
 Hire little salesinai, at The R