Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1897-05-06
MARKETS OF THE WEEK.
How Prices Of Farm Products Are
Now Selling.

outlook as furnished by McLain Bros
& Co., commission merchants, Rialto
building, this city, for the week end.
ing today is as follows:
Financial circles have not been dis
turbed by anything Of a sensational
character since the sudden abatement
Of fears Of a general European war,
and are at present viewing the situa-
ton with but little apprehension of any
unusual disturbance in the Immediate
future.
The resumption Of gold exports serves
more to emphasize the inactivity per-
vading the stock and bond market than
to cause any disquieting disturbance in
values. Stock brokers complain of a
dearth of orders, and attribute their
misfOrtunes largely to the losses sus-
tanned in England in South African
mining ventures, which have left so
many European investors practically
bankrupt that t'ere is noticeable
contraction in the volume of foreign
business on American exchanges.
The more peaceful aspect OF affairs
in the Levant has had depressing eff
feet on the wheat market, and holders
who had loaded up in anticipation of
prolonged war between Greece and
Turkey, which would endanger the
peace Of Europe, found difficulty in dis
posing Of their holdings before prices
had declined sharply; this inability
was due chiefly to the absence of a
short interest OF any magnitude, as we
suggested in our last weeks letter.
bears having largely withdrawn from
the market in consequence OF pOssibl.
tiles attending the success Of the Greek
arms.
The market now, however, has as
sumed its normal character. and as
bears have recovered their equanimty
the creation of a large short interest is
only Il question of time. and as there
are no buyers SO eager as IA frightened
short. anything that may occur to alarm
them. and induce investment buy ing.
will start an upward movement that
will continue without such violent re-
actions as have recently disturbed the
market. The creation of an extensive
short interest will be contributed to by
the liberal selling OF deferred futures
by Northwestern operators as their
nrOn nrOcpootc honnmn uoro nropiu inr
Their operations have already begun.
September being lhe favorite option.
and are doubtless due to the favorable
progress Of spring seeding and to more
propiti0us weather.
There is less attention paid to Pacific
Coast damage reports. there having
been some rain in California and it is
believed that whatever damage may
have been sustained in that state will
be more than compensated for by an
increase in acreage in Oregon and
Washington, where the area is reported
to be 80 per cent greater than last year
Advices from France state that the
weather has become more favorable
but that there has been a reduction in
area OF 900, 600 acres.
The break in prices induced some
spasmodic Continental buying, but for
eigners generally seem to have reapsed
into their previous indifference since
the subsistence of the war scare.
Northwest receipts continue in large
volume and are Il surprise to a majority
of dealers who had confidently expected
small movement in that section in
conformity with early crop estimates.
The movement, while large, is in a
measure accounted for by the rapid re.
duction in country elevator stocks.
which were reduced during the month
of April 3,500,0 bu.
Exports show some diminution and
are now disappointingly small; this.
however, is partly due to the fact that
Western wheat destined for Europe
has not yet reached the seaboard, and
some augmentation in the volume of
the outward movement may be expect
ed when this wheat arrives.
Deliveries on May contracts on the
first day of the month were very small
and served to inspire some confidence
in the future, being regarded by many
as an indication that an urgent demand
for cash wheat will arise before the
new crop will be in condition to grind
Corn was subjected to the influences
that depressed wheat upon the dssipa-
ton of war fears, the short interest
having been frightened out of the mar
ket. Prices, however, are SO low that
there was but little room for a serious
break. A new short interest is again
being developed, which, as in wheat,
will aid an advance if anything of a
sensational nature arises to start one.
The weather indications will be closely |
watched, for any change that promises
further delay in planting will at once
create an urgent demand. Fine wealth
cr, however, will reassure sellers and
increase receipts The export move
ment shows some Abatement but is
still large, the outward movement for
April amounting to $40 1858 bu.
Oats have ruled quite active within
a moderate range of prices, being gov
erned chiefly by the course of wheat
and corn.
Provisions are fairly active and fol-
low the course of prices for hogs, which
are in good supply, and receipts of
which are expected to increase because
of the turning of large number of
cattle on to grass in the near future.
The visible supply of grain in the
United States and Canada shows the
following changes for the week: Wheat
decreased 1,7S9,00O bu, corn decreased
i,7l8,OOO bu and oats increased 1885,
BOO bu.
In New Quarters.