Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1895-09-19
TRADE REVIEW,
Not Much Confidence Placed In the
Reduced Estimate Of Corn.
FARMERS UIWISELY HOLDING BACH.
Ths Wheat Crop Evidently Larger Thaa
the Government Has Eatlmatsd- ottsa
Goods Btrong-Wool Market Over
loaded By Speculative Purchase

New YoBK, Sept AR q. Dunn /
Co., in their weekly review Of trade,
say: A slight setback, which may
mean much or nothing, according 70
the final outcome OF the crops, 10 not
unexpected at this season. II the gov.
eminent crop reports were correct, tho
situation would not be encouraging.
But not much confidence Is placed In
the reduced estimate Of corn, none Of
al in the estimate Of wheat and even
the most enthusiastic bulls do not
think It worth while to quote the gov.
eminent report a. 70 cotton.
The fact is that We are beginning 70
market mot far from 2, 200, 900, 900 bush
els Of corn, though about 5oo,ooo,Ooo
bushels will be moved from the coun.
tiss whore II 10 grown; about 450, oo0,.
900 bushels Of wheat, Of which the
farmers are very unwisely holding
back . large proportion, and about
1900, 600 bales Of cotton, II the latter
indications are not erroneous, as they
may b, to add to the stocks carried
over.
The commercial stocks Of cotton
September here and abroad amounted
to LOO, 53S bales and domestic mill
stocks were S6o,6ls bales, allowing not
single bale for increase Of stocks q
southern mills Prices have settled
back little during the week, not
withstanding the gloomy department
report.
The wheat crop is evidently larger
than the department has estimstsd,
though nobody knows how much larg.
or, and Is coming forward with more
encouraging rapidity, NO less than s..
77a,l7 bushels having been received q
western ports against 5,4ae,Ool bushels
for the same week last year from .
much larger crop. The farmers have
undoubtedly been keeping back wheat
under an agreement among them.
selves. 1t does not seem profitable
operation for them Exports from A..
lantic ports for the two weeks Of Sep.
TENDER have been 2,4l7,s7? bushels
(Aour included against $50, s2e bush.
els last year. The price declined
sharply, about 2 cents per bushel, with
little indication Of recovery. The price
Of corn has also yielded with strong
prospect Of the largest crop ever
grown, and at IS cents at New York Q
large proportion Of the crop will be Of
little profit TO farmers
II we are to have large crop Of
grain and small crop Of cotton II 10
natural to infer that manufacturers
may find large transactions 1t the
west but not at the south. There 10,
in fact, very large demand for goods
at the west, and westbound shipments
are unusually large, although ship.
ments from Chicago for four weeks
amount to only 2lO,sls tons, sgainst
222, l44 for the same week In 1884.
The largest output Of pig iron ever
known, 1909 tons, Is apparently sup.
ported by reduction Of $4,000 tons In
stocks of pig iron unsold, but the fact
the great steel companies have taken
their guarantees, which are not includ.
ed in the official statement is less val.
liable The market for finished prod.
ucts Is a little weaker with indications
Of hesitation on the part Of buyers Of
Philadelphia and Pittsburgh, although
prices are on the whole fairly main.
tanned.
Cotton goods have been strong, with
a comparatively good market for raw
cotton, but at the close decline Is In
dictated, because the market for raw
cotton has shown much weakneaa
Sales Of wool have been 8, l47, 900 pounds
for the week, against 1851, 300 pounds
for the same week in 1892, and there
are indications that the domestic mar.
ket is quite overloaded by the specu.
lative purchases made some time ago.
Failures for the week were 1877 In
the United States against 9l9 last
year, and "a in Canada, against " last
year.