The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1896-11-14
Local, Eastern AMI Foreign
Commercial Dealings
WALL STREET SPECULATION
Pertinent Pointers on Primary Markets
With Prices
Cotton Markets All Strong-Wheat Firm
and Further Advances Freely Predict
ed-An Active Demand for Provis-
ions and Firm Prices

The following points on primary markets
are from Clapp's New York Letter:
Print cloths have ruled more active and
higher both in the United States and
abroad. Spinners appear more willing
buyers both in Europe and in this country.
Many parts of Central and Northern India
are reported suffering for the want of
moisture. The cotton bolls are opening
prematurely and the crop will be short
and early. Mr.. Tate estimates the aver
age yield of clean cotton to each acre in
India is about 300 pounds, and in some dis
tricts net over 100 POUNDS. while in Egyp-
tian cotton fields 600 pounds is an average
yield. and this output of Egypt is now es-
timated at 100000 bales of 500 pounds
Cotton is now selling at cents a pound
for January delivery against about $50
highest in 1895, and 5.33 as lowest price in
1895 or recent years. The average price
in New York in the years 1S44-5 is reported
MS 5.63 cents per pound, or lower than ever
known since. Seed then was of no value:
now planters get good returns for the sale
OF seed From 1910 to 1919 cotton aver
aged lower than any decade before or since.
bombay, reports prices rising and spin
ners mill securities depressed on account
OF a small demand for goods. European
stocks, including the amount a1oat are
much less than year ago. The movement
70 interior towns has fallen off and shows
Slsn 1so5 OF Ia decreasing The amount in sight
cent of the crop marketed. Most guesses
stii seem TO forecast q crop of about $780,
poets of a top crop Mr.. Ellison estimates
the worlds consumption will be $500 900
bales against 100000 bales the past year.
The visible supply at the beginning Of the
crop year was below any year since 1891 or
about @; 10 against 11.140Oo0 bales against
14,05S,00o in 1ss4-5. Our advices from Texas
No other reports indicate more than an
average top crop in the older cotton states
may be expected. Sentiment continues
1t is reported the Indian wheat crop is
$500 600 bushels less than last year; that
100. 900 GOO bushels: that the firm that ship
PED the first cargo of wheat from India to
Europe, twenty-five years ago. has re-
Gently shipped a cargo from California to
India; that India is now shipping wheat
TO England. 1t is reported IS per cent of
the worlds people live exclusively on rice:
that d L grew 6S. 1856 900 acres Of rice and
only 22,2lSoo0 acres of wheat. and 90. 638. 900
acres. of other foodstuffs. The Australian
crop is reported only TO equal home neces-
wishing their farmers to hold their wheat.
claiming stocks are light and decreasing,
ysSe lie Msp but
press predicts dull November. to be fol-
lowed by higher and advancing prices in
freights and liberal movement. Russian
markets appear to be affected moro by our
markets than. English quotations or de-
much rain, and damaged crops are posi-
BILE. The German and English potato
crops are reported short and less yield
than in 1895; Fall seeding in Russia is re-
ported in fine condition. San Francisco
reports an unusual demand from an unus-
ual number of ports for wheat. and claims
half her. 1896 crop has gone forward, and
much Of the, remaining supply is under
contract The Modern Miller claims
northwest deliveries show no signs Of in
creasing; that the milling demand is ur-
gent. Cash wheat is selling in Minneapo-
lis at December price. 1t is reported Man
itoba will have only 10.0O0.060 to spare.
against more than double that amount last
season. Our potato, crop, will likely fall
short nearly 55,0 900 bushels. Specula-
ton continues elated and likely to carry
prices much higher. Many old grain men
in the trade predict dollar wheat on this
crop. and SIS cents in 1896.
The domestic and export demand for
provisions continues liberal from all
sources exports. of lard continue unus--
ually large Chicago reports pork of all
kinds has been made only in small guam
titles. Prices are not high. and seem more
liable to advance than decline. Packing
March | to October % was 9.S15.OoO hogs,
against 100000. or q per cent gain for this
season.