Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-09-14
UNWISE.
Farmers Arc Holding Back
Their Grain.
EVIDENT AGREEMENT HAS BEEN
MADE ny THEM.
DUN'S TRADE REVIEW.
LIGHT SETBACK HAS BEEN AyTIci.
PArED ny THE GENERAL
TRADE.
DUN'S TRADE REVIEW.
Government Crop Report Has Hut
Little II Any Weight with
Posted business Men.

New York. Sept. 1S.-R. G. Dun &;
Co. In their weekly review. will say:
A light set back, which may mean
much or nothing, according to the
final outcome OF the crop, Is not unex-
pected at this season. II the govern
ment crop reports were correct, the
situation would not be encouraging.
But not much confidence is placed in
the reduced estimate OF corn; none at
all In the estimate OF wheat. and even
the most enthusiastic bulls do not think
1t worth while to quote the government
report as to cotton. The fact is that
we are beginning to market not far
from 100000 bushels of corn,
though only about $780, 1000 would be
moved from the counties where 1t is
grown, about 4jO.OOO,OcO wheat, OF which
the farmers are unwisely holding back
a large proportion, and about 1900. 900
bales of cotton. If the latter indica-
lions are not erroneous. as they very
easily may be. to add to the stocks car
rled over.
The commercial stocks Of cotton Sep
TENDER / here and abroad amounted TO
2.lOO,b3S bales. and domestic mills
STOCKS We're 36O6ls bales. all owing
not a single bale for increase OF stocks
at Southern mills Prices have fallen
back a little during the past week,
Notwithstanding the gloomy depart
ment report. The wheat crop is evil
IDENTIFY larger than the department has
estimated. though nobody knows how
much larger, and Is coming forward
less than 5773,773 bushels having been
received at western ports against g.
$4,000 bushels for the same week last
year, from larger crop.
The farmers have undoubtedly been
keeping back wheat under agreement
among themselves. but II does not seem
a profitable operation for them. Elk
weeks OF September have been 2,4l7,-
$40 bushels, flour included. against g.
3lO,926 buchels last year. The price
declined sharply about cents per
bushel, with little indication OF recov-
cry. The price Of corn has also Yielded,
with n strong prospect IF the largest
crop ever grown. and at 3s cents at
New York a large proportion OF the
crop Will be Ct little profit to farmers.
II we are to have n large crop OF
grain and n small crop OF cotton il is
natural to infer that manufacturers
viii find large transactions at the West
but not at the South. There Is, In fact,
a very large demand for goods at the
West, and west-bound shipments are
unusually large although the east
bound shipments from Chicago for four
weeks of August amount to only 2l0.-
3lS tons, against 222,li for the same
week In 1894. The largest output OF
pig Iron ever known, $4,000 tons, is
apparently supported by reduction OF
$1,000 tons In stocks of pig iron unsold,
but the fact that the great steel COM
panles have taken large quantities
which are not included In the official
statement renders the account OF
stocks less valuable. The market for
finished products is a little weaker.
with indications OF hesitation on the
part of buyers at Philadelphia and
Pittsburg, although prices are on the
whole fairly maintained. There is great
pressure for delivery Of structural pro-
duets and plates. but bar iron is stlll
quoted at PlttsburB at Sl.i5 and tank
steel at s1.19. The rapid shipments OF
Marquette ore during the past week
have some influence on prices Of BESSIE
mer products. Nothing of importance
had occurred In the minor metals. al
though tin has been stronger at times
with London buying. and copper has
been helped by the report Of big sale
Of lake at u Ia Cotton goods have
been strong, with comparatively
good market for raw cotton. but at the
close decline is indicated because the
market for raw cotton has shown some
weakness. Sales OF wool have been
s.ll7.9OO pounds for the week. against
/ .3li 300 pounds for the week IN 1892,
and there are indications that the do
nestle market Is quite overloaded by
the speculative purchases made some
time ago.
Failures for the week were 1871 in the !
United States. against 2i9 last yenr,
and "a in Canada. against a last year. |