The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1895-10-10
". G. PRESS 6 CO.,
Grain and Provision Commission Merchants,
and Z sherman st., Chicago.

In their special market letter say:
The recent activity in our Wheat
market has greatly mystiied the ma
jority of operators, who have, in con-
sequence, vibrated between bullish and
bearish sentiments, apparently unde-
cided as to what course to pursue for
more than a single day. We see moth
ing, however, to disturb equanimity of
traders possessing a fair knowledge of
the existing commercial and specula-
tive environments of the market, and
still believe that they should buy on
good breaks, and accept reasonable
profits when the opportunity presents
itself. The action of the market in
dicates that the bull combination sold
out on the upturn, realizing fair
profit on their holdings. The success
of their venture will doubtless encour-
age them to attempt another coup, by
pursuing their former tactics. They
began accumulating their last line at
about 60c for December, and bought
freely on every break until they had
secured enough Wheat to make their
holdings an important factor. Until
they secure another line they will not
support the market on the hard spots,
but can be relied upon, after they enter
the market, to summarily check any
pronouncedly bullish sentiment until
they are ready to dispose of their hold
ings. The low price current is an inn
portland factor in successfully conduct
ing their operations, for any material
decline would carry it so low that they
could safely increase their line, trust
ing to the inevitable reaction to fur
fnnnl n m Of oh 70
realize on. We shall endeavor to ad-
wise our friends when this combination
again enters the market for we con-
slider its operations as the most impor-
tant speculative feature now influence
ing values. This combination includes
number of very wealthy men, inden-
titled with large iron interests, and is
financially strong enough to preclude
failure of its plans, on account of nee
essary funds. There is but little in the
supply and demand relations that we
have not heretofore noted. While win
ter wheat receipts continue light, the
movement at the Northwest continues
unabated, and seems to be limited only
by the carrying capacity of the railways.
The seeding of the new crop is pro-
crossing fayorably, except in a few
localities affected by drouth. The do
mestic and foreign demand for flour
continues good, but European supplies
are still large enough to prevent their
markets responding promptly and fully
to our upturns. There have been some
complaints of drouth in Continental
Europe, but it has but slightly affected
their quotations. Stocks abroad are
liberal, being excessive at Liverpool,
where storage room is about exhausted.
Fine weather has rapidly cured a large
amount of corn, and few cars of the
new crop have already been received in
our market. Receipts will doubtless
gradually increase, and, while prices
are low, we see nothing upon which to
predicate phrophecy of an advance.
Speculation in this cereal is at a low
ebb, and until prices are low enough
| to tempt someone to enter the market
for the purpose of cunning for short
interest, there will probably be but
| moderate activity.
Oats traders have been treated to 6
surprise by the Orange Judd Farmer
which estimates this years crop a
D04 900, 900 bu. While it was generally
believed that the crop was large, these
figures, which it is claimed are justi
fed by threshing returns, exceed thC
guesses of the most pronounced bears
and suggest unprecedentedly low price
in the future, for they indicate a yielC
of more than l50,000,000 bu create
than the largest crop ever before har
vested.
The only new feature in hoI
product of Importance is prospectiv
squeeze in October short ribs, whicI
are supposed to be dancing to tn
music of a we'll known packer one
credited with the statement that h
preferred to trade in something tina
She could get his arms around"