Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1897-05-13
MARKETS OF THE WEEK.
How Prices Of Farm Products Are
Now Selling.

Special to the Reflector.
CHICAGO. May l2.-The marke
outlook as furnished by McLain Bros
& Co., commission merchants, Rialt,
building, this city, for the week end
ing today is as follows:
The recent amelioration of weather
conditions has been reflected in graft.
Tying Improvement in general trade
over alarger area Of the west and north
west. Country roads are in a more
pa,saDle state and receipts of grain at
primary points are gradually increas-
ing Bank clearings, which have here
tofore shown Il disappointment large
decrease when compared with those of
corresponding dates last year, show
less pronounced discrepancies. and
there are indications OF an encouraging
Increase in the near future.
The stock and bond market remains
quiet and inactive. the demand for
nigh grade bonds for investment being
the chief noteworthy feature. The I'M.
certainty attending tariff legislation
restricts speculative ventures, and there
IS little interest manifest in the gen.
eral security lis., about the only stocks
llnctnating enough to incite active
trading being those which the tariff
directly affects. Brokers still complain
OF a dearth of foreign orders and of
me absence OF the country" in Wall
Street.
While the security market lanpushes
with but slight prospect of immediate
recovery. the wheat market continues
active and at times exciting. tn. con-
dlllons affecting it being of a character
70 excite interest and induce specula-
ton. The more favorable weather for
crops. the increase in receipts at pri-
mary points and the prospect of a large
spring wheat acreage naturally creates
a oearish speculative sentiment, whcl!
induces free short selling whenever the
market shows a declining tendency: but
so strong are supply and demand rela-
ions that they assert themselves as
soon as the bears have created fair
snort interest and attempt to cover
causing the rapid advances which fol.
low every break of several DAYS dura-
ton
Foreign advices are generally favor.
able for holders. France and Russia
sending additional reports of uniavor-
able prospects. while Australia is being
again subjected to a destroying drouth.
The wants of Europe for the next three
months will be large, and its purchases
must be liberal if present stocks are
not to be greatly reduced before an
other harvest. The London sntis rs.
Inmates that the United Kingdom alone
will require in wheat and -four the
equivalent Of SO000.000 bu before Au-
gust lst. Stocks are being rapidly de-
pleted in all consuming and exporting
countries, and the wheat in store at
Chicago and Minneapoli is held by Il
few strong millers and elevator men.
Under such conditions crop prospects
absorb the interest of both bulls and
bears and become the most important |
factor in their calculations, both recoy
nlzng the fact that should ANYTHING |
occur to seriously curtail production. |
Dr. to greatly delay the winter wheat |
harvest, that holders of wheat in store
would promptly demand higher prices.
Inc realization of this danger renders
short sellers cautious and contributes
70 the urgent demand that arises when
,ver the market becomes strong on
iamage reports. Exports are again
Increasing, and the demand for domes-
lie milling is sufficient to keep spot
wheat at premium over the July
uture.
The market for coarse grains re-
mains comparatively dull and uninter-
sting, although there is a noticeable
ceiling of bearshness in corn when
yer wheat weakens. This is due to
he favorable progression of corn plant
ny in the central west and the pros
'ects of increased receipts as the roads
improve and farmers finish their work.
Exports although liberal are somewhat
mailer, and the foreign demand is
kelly to abate moderately as the ne
essity for supplies for stock feeding
broad becomes less urgent. The pros {
ect. however, is favorable for a fair |