Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-09-11
ON CHANGE.
Spot Cotton Steady and Quiet,
Unchanged to Lower.
FUTURES OFF 7 TO % POINTS.
Wheat Opened Dull, Advanced, F1uctuated
Wildly and Finally Settled u Near
Cents Above Wednesdays Close.
Corn Followed Wheat.
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Henry Clews IL Co., New York, say:
! Wheat-The market during the past week
has been fairly active, and although at
times excited it seemed TO be gradually set
ting down to an ordinary pace. Quotations
are much less erratic than in previous
weeks, but the market is still very sensi-
tive and responds quickly to any bull or
bear news. The position of the trade in
the market seems TO be pretty well evened
up, with perhaps Il small short interest.
Although the general sentiment is beariSh,
the violent fluctuations which we have re-
Gently experienced have taught traders 4
lesson, and they are disinclined to get either
heavily long or short, and for the time be-
ing are feeling their way cautiously. For
eigners have shown an inclination to buy
recently, but not to any large extent, which
shows that they either have enough at pres
ent or expect to get wheat cheaper by hold
ing of. The demand for export, which fell
of during the past ten days, has begun to
improve a little, and the clearances are also
somewhat better
Corn-The market has been active and
irregular. but the general tone has been
bullish on the reports of cold weather in the
Northwest. The market appears to be ma
nipulated by the New York clique, who
have caught the Chicago operators short:
and that they lose no opportunity to put the
screws on is evidenced by the sharp rallies
week the temperature in the corn belt be-
came higher, and fears of a killing frost i'm
mediately were Gained. Rumors and pre-
dictions of this kind may be expected now
until the corn is out Of danger.
Provisions have been very firm, and TO-
ward the close of the week became strong
on the official announcement of the removal
of the German embargo. Large lines of
hog products We're sold in the speculative
market by packers without Influencing the
market much, Notwithstanding lower prices
for live hogs. resulting from increased re-
ceipts. There are still no signs of any
marked improvement in the outside specu-
lattve demand; after every quick change in
prices trading practically dies out for
while, and apparently it will require Il
somewhat lower level of values to attract
the public and thus improve the market.
CottOn-The week again opened with
boom and considerable excitement, fol-
lowed by wide fluctuations, due to the con-
tined unfayorable crop conditions and the
growing belief that the crop has been
actually damaged from various causes, and
that the yield will be much smaller than
recently expected. Some of the veterans
in the trade, on the other hand, claim that
nc serious damage has vet occurred; but
when a movement of this character once
gets into full swing on crop scare, with
such low prices as basis, it is impossible
without regard to the Importance of the
crop reports. The continued dry weather
in sections of Texas is causing uneasiness
regarding the yield, for unless it is soon
followed by sufficient rain the plant will
cease 10 fruit. The port receipts are COM
paratively light, with a disposition among
producers TO hold back for better prices
The decline in condition in Texas is esti-
mated at over 20 per cent, and in the Mem
phis district 10 per cent, which would fore
shadow an unfavorable bureau report on
the 10th. There is good demand for spot
cotton, which is firmly held in all the South
ern markets at higher figures. The Liver
pool market, which at first was slow in
Joining the upward movement, is now the
principal source of strength, futures max
ing surprising advances almost daily, at
tended with an enormous business in spot
cotton. .-------
Coffee-There has been quite change
in the temper of this market, and the bust
ness for the whole week done on a much
lower basis. 1t has been very light, too,
the same Old process Of buying in very