The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1897-06-19
SPECIAL MaRkETLETTER

The following market .ettrr > ;j!F-
nished us by NcLAIN Bios. < 70.
Commission Merchants. l.iaItn Build
ing, Chicago:
The gratifying change in weather
conditions has stimulated trade in Sra
sOnable goods. and impaired cheerful
ness 10 tie tone of aIvices from mum.
erouS localities. There has been =.
noticeable increase in the business 81
stock and bond brokers. which. white
still unsatisfactory. is graciJu@.y re-
ceived as a harbinger of mere pruSlse.
Gus days.
Railway stocks have been in better
demanri at home ana abroad. the re-
cent Supreme Court decision having
removed the cause OF much anxiety IA
TO the future canning lowers OF road
having large capitalization ana bJir
denS0me !-al"h debts. \ genera. i'll
crease in net earnings has contributed
to the Improvement noted. and Unir>-
disturbed by - 81" new disqHietiH~ i:n-
tor there ~" Substantial grounds ~
hope of grta'. = liability in he r4i:r,
security list.
The European war *pecter ODjgUip:
itself into commercial circles with tn
welcome frequency. aDd. Judging frcm
the tenor OF adviCes from al quarter.
MAY at ANY mcmemt command the any
iOuS attention OF operators in SeCuritic-
and agricultural products throughout
the world. CJu!imu"d ~obiurancv on
the part of the Turkish government i:
not needing the demands of the powers
in relation 10 the evacuation of ThrS-
sally will oun manifest itself i'll a de
cline in foreign securities and a gen
Pral uneaSinesS at financial cpnters.
While anything that will excite fear,
OF an armed conflict between any o.;
the great European nations. or between
one or more of them and Turkey. wotl
adversely affect tie price of securities
it would nj once infuse life into Oul
wheat market and create Il speculative
demand that would rapidly advance
quotations: for. with Russia. America
and the Danubiam countries the only
sources of European supply. the closing
of the DardanelleS would become Il
calamity.
1t is the knowledge of the result of
such Il contingency that directs the at
tentlOn of Wheat traders to the Orient
with more than usual interest and
alarms short sellers whenever ANYTHING
occurs that ever remotely suggest,
war, especially If it be accomuaniei
with the slightest decline in English
cOnSOlS.
Recent advices from abroad con.
firm previous advices of crop damage
in Danubian countries. and of i'm
proved weather conditions III Western
Europe. Foreign markets Tor the
moment seem To be following ours il
IT, irr. 81 49,, .l.n,-a -T,,- 80 -.
incite them 10 independent action
While stocks there are decreasing. sup
plies in sight. and those purchased f0I
future delivery. are sufficient for iii.
mediate wants. and in consequence
the demand for spot wheat has notice
ably abated.
Domestic crop adyiceS are generally
fairly satisfactory: there are some com
plants of rainfall deficiency in por.
lions of the northwest. and of the aD-
pearance Of graSshOpperS in seveIa.
localities in South Dakota.
Advices from the southwest continue
favorable for Il bOuntifui harvest. and
for Il liberal movement from that sec
ton in about three weeks. There is
but little probability OF Il free move
ment to our market unless the price
here is made relatively higher than
winter wheat miileTS are willing To
pay. through the inability of any con
siderable number of July shorts h. no
vide for their contracts.
The government report. issued on the
10th inst, had but Il mOmentarv effect
on the market. being received with in
credUlity by the trade. 1t has been 50
often necessary to revise the DEPART
ment figures in OTdertO harmonic them
with final returns, that they are iiscred-
tied whenever conditions reported are
not in conformity with private crop al
vices. The last report Was for acreage
and condition June Isl. the area Of
winter wheat being estimated at 2l.-
J62.ctO acres, and of spring l3.G17 .0a0
acres. The condition % the former is
placed at IS.5 per cent Of Il full average
yield. suggesting Il final output of Do
643.h0O bu. and the condition OF the
latter at $50 per cent. Suggesting a
crop of lS2.S7S.0G0 bu.
There is Il large concentrated long
interest in the July future. which bears
have been unable to eliminate by de
pressing the market. and which affords
substantial support on the sharp
breaks. causing frequent rapid rsac-
tons. The general trade is gradually
drifting into the September future,
nTeferring to buy or sell for delivery
in Il month less subject to mdnipu,a-
tIon than in II evidently controlled
by the interest or caprice of 4 cOterie
Of strong operators.
The sudden favorable change in the
weather has relieved the anxiety of
shorts in corn. and Increased ;he offer
iu@S by western shippers. Prices are
80 low that there is but little induce
Gi@nt for speculative selling. the raS$i.
Ole profits being incommeusaratt with
HE attendant risk.
The visible supply of grain in ,lle
United States and Canada shows The
f0,,owin changes for the week: Wheat
decreased 1.764.0O bU. corn increased
2,62l 0 bu and pats Increased - 90
hr
Cigarette Manufacturer Advises Alb
stinence.
John Dunlop is Lewis Ginter's
greatest chum, and his legal adviser
as we'll. Mr.. Ginter is the richest man