The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-08-09
III CROP BILLION
BUSHELS UnOtR 1916
<uanperes asc That Farmers win Get
MI Fancy Price for
All Orops-
HOxToN STILL GOING UP
STILL GOING e,
Advance Was Another
8 Dollar . Bale-Tnciuding Canadian
a oAcrsage. Decrease VIII Reach More
Than Billion.
Br BRoAnAN WALL.


S&ov0rnment crop report issued this
/ afternoon disclosed disaster in the
ApFfng wheat Geld. the stock market
had discounted it and closed Arm with
net gains in many quarters. The mar
bet was broader too than It has been
for weeks. Many standard stocks
showed life
Most of the days work. of course,
was in speciaities and most OF the
buying was for the account of pro-
fessional traders who took advantage
~ the bad crop reports to cover their
c0n&racts.
This crop report ~ so bad. however,
that Il may hold the market back
while longer. According to the off,
ctAi figures there will be 1000, 600
buahels less of grain in the United
States this year than last Reliable
reports from Canada show that the
spring wheat disaster has extended TO
ngs in grain for the year Will be not
lsss than 1,loo, 10000 bushels.
II is possible that these figures DO
not measure the worse The govern
mcnt crop report is dated August ],
but. as q matter of fact, the figures
are gathered about week earlier by
the farmers 30 that ~ really should he
was done at the end Of ,iGl', and the
bad conditions have grown worao
Shrinkage Reported.
Therefore, IL is within reason to ex-
pect that even favorable conditions
could not bring the crops hack even
10 the condition reported in the gov
eminent report. That report shows
. shrinkage OF 27s 900 600 bushels In
corn and 200. 600 900 bushels in win
ter wheat. l5s 900. 900 bushels spring
wheat, ess.o0o 900 bushels in oats and
42.0ao.0o0 in barley The spring
wheat crop is 40 per cent less than
last year. This indicates that Canada
will have 6e,ooo.o 600 bushels less than
last year At any rate. so that the best
totals possible to give on this years
crops are 100, 900, 900 bushels Less
than 1915.
Owing TO the bumper crop OF last
year, following q bumper crossa 1914,
the .carry-over this year is 4o0, 900 900
bushels OF grain greater than normal.
Therefore the specific disaster is not
q general one. The North American
continent will have about the normal
quantity of grain.
Wheat prices were TO-DAY more. than
Soc a bushel above those OF July !. A
wild opening is expected tomorrow
morning
Cotton went more than a dollar
higher today The oltIook is for very
fancy prices for all farm products.
or today's stock movements those
In Mercentile Marine, Motors and Pa
per shares attracted most attention.
The advance in Marine was due to the
information that no notes would have
TO be issued in connection with the
reorganization.
The movement against shorts in
motors was begun according TO sched-
ule today. 1t gained in force up TO
the close and some OF the professionals
are in a precarious situation. But with
- x~~s- xxrftL Sc.
age to crops the motors as class are
still regarded as highly speculative,
Sugars were stronger and munitions
were will purchased.
IL can be stated on the authority of
a director of the International Paper
Company that the directors at their
. hext meeting will consider the dues-
ton OF funding the back dividends on
their preferred stock
Something extra Is expected also by
the Consolidated Gas stockholders
Most impressive of the days bust
necc was the buying of United States
{ Steel. ana the continued advice OF
leading bankers to purchase II.
Copper producers are telling one an
other that consumers are to have an
unpleasant surprise In the near future
for the production Is falling off slight
iy and there are some important or
ders for the account OF the allies that
remain untitled
Corporations Weak Position.
Wall Street had TO talk little
about the railroad strike But all II
had to say was that the quick settle
ment OF the New York traction strike
disclosed the weak position OF cor
porations and confirms the long estab-
lished Wall Street theory that there
can be no nation wide strike on the
steam roads