Mexico weekly ledger., 1895-10-10
". G. PRESS & CO.,
Grain and Provision Commission Mersh,,l,
2 and 4 sherman ST.. ch,oas. ,'

anu sherman St., Chicago.
In their special market letter say.
The recent activity in our Wbas. 4
market has greatly Inystified the ma nss y
Jorlty OF operators, who have, in cas,s
sequence, yibrated between builish ma +
bearlsh sentiments, apparently un,ie.s Il Il
cided as To what course to ptlrsl,e n.
more than single day. We see noti,.
ing, however. to disturb equanimity a. 4
traders possessing Il fair knowledre 81 7
tne existing commercial and speepla-
tive environments of the market. ana
still believe that they should huy on :
good breaks, and accept reasonable
profits when the opportunity presents
Itself. The action OF the market in
dieates that the bull combination sold
out on the upturn, realizing fair
pront on their holdings. The success
of their venture will doubtless encolr-
age them to attempt another eour. nv
pursuing their former tactics; 'rhev
began accommodating their last line ~ !;
about 60c for December and beurl,f
freely on every break until they had
secured enough Wheat to make their {
holdings an important factor. Until
they secure another line they viii NOT
support the market on the hard spots
but can be relied upon, after they enter
TIE Market To stinlmariiy cheek any
pfonouneedly bullish sentiment until
they are ready to dispose of their hold s
Blgs. The low price current is an i'm.
portant 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
nlsh them market strong enough to
realize on. We shall endeayor TO adj
wise our friends when this combination
again enters the market. for we con-
slider its operations us the most impor-
tant speculative feature now influence
ing values. This combination includes
q annmber of very wealthy men, inden-s
titled with large iron interests, and is &
financially strong enough to preclude8
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 VIM
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 fayorahly, 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 droath i'll 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 large
amount of corn. and q 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 n low
ebb, and until prices are low enough
to tempt someone to enter the market
for the purpose of cunning for n short
interest, there will probably be but
moderate activity.
i Oats traders have been treated to q
surprise by the Orange Judd Farmer,
| which estimates this years crop at
9O4, 900, 900 bu While it was generally
| believed that the crop was large, these
figures, which it is claimed are justi-
fled by threshing returns. exceed the
guesses of the most pronounced bears,
and suggest unprecedentedly low prices
in the future, for they indicate a yield
of more than $50, 100000 bu greater
than the largest crop ever before iiar-
vested.
The only new feature in log
product of Importance is prospecting
squeeze in October short ribs, which
are supposed to be dancing to the
music of q well known packer onct
credited with the statement that hs
: preferred to trade in something thai
tho could get his arms around.