The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1897-07-17
SPECIAL MARKETLET

The following marker .rllr.
nished us by MCLAIN Bios, y -.
Commission Merchants. Ratio H."
ing, Chicago:
Although there has been no srrI"iI~
decline in the stock and bond list Gti:-
ing the past week. there have ar.a II
several disturbing factors which IN ~
ere long precipitate more than Il li' rr
reactioDary break. and which Promise
to emphasize tlIe existing riIIc' iia'n,.
as to the probable state OF co" M rr
and finance in tie near future.
The miners strike. which from tn.
fact that it came unhera!drd and Mas
preceded by few ~pTemuniturN Si.IIs. al
though but recently inaug"ralrd. is III
ready causing Inconvenience AMI II IT,
spOnsible Tor the Involuntary clu-!rig a.
a number OF factories i'll lUrHi5 ir.'
where fresh supplies OF coal are uiiub-
tainable; and unless soon ended Will
become Il disturbing element at no
neal proportions. and with The tm!ju-
GERS strike in the United kiHg,iuIm
which promises to become the yIr.irSl
labor and capital contest OF This "rI'
tury, may soon create appreir:':fT
fears for the stability of railwas 6,
industrial stocks.
The freight war truce. from wi.,..
operators anticipated Il S~atiSfaclnI,
adjustment of discordant difficulties.
seems to have been Intellectual. and Il
reopening of hostilitieS. because of the
refusal of the most aggressive road to
submit the dispute to arbitratOrS. is
imminent.
The wiley Turk has once more he
come an object of anxious interest and
adds something to the diSquieting I'M
certaintieS.
The willingness of the public To en-
gage in speculation is evidenced bv the
a~lacrity with which it responded to the
recent moderate advance in wheat and
corn, even though the upturn was
caused more by the possibilities of
crop damage than by any injury vet
sustained. The interest manifested in
corr waS significant and augurs well
for the future of the market for that
cereal whenever anything occurs upon
which to predicate a bull movement.
Although the weather has been ABOUT
all that could be desired for the grow
ing crop. the fact that it was being
damaged by hot winds over a limited
area i'll Kansas was sufficient to revive
speculative interest and to at once
broaden the market-a Significance
fraught with promises if anything oc-
ours to seriously cUrtail this seasons
yield.
The advance brought somewhat freer
offerings from country points. and re-
celptS in consequence will probably be
more liberal. The export movement
has again become large. and will. if it
continues. prevent larger receipts from
becoming ~burdenSOme. 1t is claimed
that the low price has proved so at
tractive to foreigners that they have
accumulated excessive stocks. and that
some of them are getting out of con-
sdition.
The government report. issued on
the 10th inst, places the average con-
ditiOn of the crop on July LIST at S2.9.
9points lower than for the correspond
ing date last year. on an acreage I.2
per cent less. The condition of wheat.
winter and spring combined, is placed
at SIS. Winter is ST.. or 81 points
higher thai II month ago.a and spring
Sl.2, or Is points higher. The per-
centage of crop remaining on hand is
estimated at 81.
The wheat market has been intlu-
enced by the action of corn and has at
times ruled quite active; the July Op-
ton has been erratic and its course has
naturally affected the deferred futures
Offerings of new wheat to arrive dur
ing this month are daily becoming
more liberal. Harvest is progressing
rapidly and favOrably and the concen-
sus OF opinion seems to be that the
quality is fine and the yield in excess
of anticipations. The reports of dam
age to French. Russian and Danubian
crops have become a part of the regu-
lar daily news, accompanied by state
mentS that foreigners have been large
buyers OF American wheat. but as En-
rOpean markets still show signs If
weakness. the trade receives the re-
ports with incredulity. That snme
damage has been sustained is doubtless
true. but that it is serious seems i'm
probable; with present low prices. now
ever, even moderate curtailmeIt of
foreign crops would prevent any
marked decline, and with depleted
stocks would furnish the basis for Il
higher range of values. The worlds
visible supply as compiled by BocrboLa.
n BrddStrtet on July ! was 1G.243. 90
bu. as compared with 105. 30. 600 bu
u year ago. the smallest supply re-
ported since August. 1890.
The paucity of stocks will assure an
excellent demand for wheat Of such
quality as We now have assured. and
only u~nfavorable trade conditions can
prevent a recovery in prices wlIen.yrr
they are unduly depressed.
The visible supply OF grain u. Ike
United States and Canada shows The
following changes for the week: Wheat
decreased 974, 600 bu, corn 572. OOD bu
and oats 1853. 600 bu