Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-09-17
...~UN CHANGE.
Spot Cotton Easy at a Decline
of l-i6c All Around.
FUTURES / TO 7 POINTS LOWER
Wheat Market Dull, and a Loss Compared
With Tuesday is Noted-Corn Acted
in Sympathy-Coffee Declined
1-4c-SuSar Unchanged.
Henry Clews & Co.. New York, septem-

Henry Clews & Co., New York, Septem-
Der Il, say:
Wheat-Under free offerings for both
long and short account, the wheat market
has declined heavily during the weak, and
as the news from nearly every quarter has
been of u bearish character, general senti-
ment favored the decline. The selling has
been quite general by both commission
houses and foreigners, and not only has the
LIQUID alton been large, but the short inter-
est is thought TO have increased materi-
ally, The enormous receipts OF spring
wheat at all interior points have begun to
press on the market, and this has been
keenly felt for the past week, as the export
demand has slackened considerably, and
until it reyiyes prices are likely to be
irregular, as the American public are not
bullish enough on the home situation to adj
vance the market in the face of rapidly in
creasing stocks. Our wheat is undoubtedly
wanted by Europe; but at the moment,
owing to improved weather conditions
abroad, the foreigners have Withdrawn
their bids in our market, and seem inclined
to take look around to see just how they
stand, and evidently feel that for the pres
ent they need not make such extensive
purchases until their stocks decrease
somewhat. Consequently, cargoes of coast
are weaker. and have declined over shil-
ling during the past few days. The foreign
demand is bound to revive sooner or later,
however and TO continue throughout the
crop year; and in view of this prospect, and
the fact that prices have now gone down
about 10 cents per bushel lately, we think
wheat ought TO improve again. The gov
eminent crop report for August was a good
one. and shows a general Improvement III
the condition of all crops during the past
month. The average condition of spring
wheat is 90 5 against 95.5 last month. and
the crop promises to be even larger than
was anticipated by the most sanguine. Rye
also shows an improvement. the average
being % against previous $40. To APP
preciate the extraordinary movement of
wheat during July and August it is well TO
compare this years figures with those of
two previous years. The receipts OF new
wheat for the past two months has been
10. S02, 0C0 bushels, against 2l,466, 600 bush
els in 1889. and IS, 1861 900 bushels in 1890.
The foreign markets have all been weak
and depressed, owing TO the favorable
weather bothSbn the Continent and in the
United Kingdom Conditions are reported
to have improved almost everywhere in
Europe, and at the moment the prospect
abroad seems brighter.
Corn-The corn market Is still being gov
erned principally by weather conditions,
and IN consequence prices have been some
what irregular, but with q tendency to sell
of owing to the absence of frost and higher
temperature in the Northwest. According
to the government report, the condition of
the crop has Slightly improved during the
last month, the percentage being Oil
against eos on August |.
Provisions exhibited marked weakness
early in the week, owing to an effort on the
part of recent buyers to realize profits in
consequence of the depression in cereals,
and also on reports of decreasing stocks of
meats at interior points in the West.
Cotton-Ihe cotton market has been very
active and excited, the sharp rise of last
week being followed by an equally sharp
decline, due primarily to the over-bought
condition of the Liverpool, New Orleans
ard New York future markets, after rapid
rise of 11.c, and finally the surprising re-
port of the agricultural department making
the average conditions SCI instead of as to
80 the range of the various estimates, being
4 reduction of six points from last month.
The causes of the deterioration were excess
of rainfall on the Atlantic coast and from
Alabama westward drouth was the main
factor. The most serious complaints were
of shedding and sprouting of seed and rot
ting in the bollS. The average conditions
are: Virginia, as; North Carolina, 20;
South Carolina, 81; Georgia, 81; Florida,
IS; Alabama, So; Mississippi, So; Louisiana,
So; Texas, 81: Arkansas. So; Tennessee, 81.
The report created the impression that the
poor crop reports were exaggerated, espec-
tally regarding the damage done, and free
selling followed. Liverpool, however, took
4 different view of the report in connection
with the general situation, which is more
favorable for the spinning industry, and ad-
vanced, TO which our market fully re-
sponded. The port receipts are liberal, but
there is a conspicuous absence of any pres
sure on the Southern markets or in New
York, while there is . good demand, and
the indications are that fewer spinners
have contracted for future wants than for
many years. The official figures of the last
crop are S.655. sis, of which about S000.0O0
was consumed, leaving over 100000 bales
surplus, which, in connection with another
crop of even only 5000, coo, is regarded
ample to meet all requirements the coming
season. The speculation for the next sixty
days will be on the chances of IN early or
late frost. as the crop is late, and conse-
quently of more Importance. Visible sup
ply, I,66I,2lS bales: last year, 1,017. S44
bales Stock at United States ports, ESQ.,
$50 bales last year, 127,4S7 bales. Stock
in New York, 49,, 965 bales; last year, H.
Ga bales. StocE IL I..ycrpoo,. eli kinds,