The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1897-03-26
WEEKLY MARKET LETTER.
Downing, Hopkins s. Company's Review
of Trade.

of Trade.
There was fair trade in speculative
wheat the past week, the market being
subject to frequent but moderate
changes. The feeling manifested was,
on the whole, firm, though at times the
market exhibited rather an easy under
tone, the week closing with about 54c
advance. There has been fair buying
of late by certain interests which has
led many traders to believe that the
market is having support from opera
tors who of late have favored the short
side, and no doubt this buying was
something of power this week. Con-
ditions of supply and demand have not
changed since our last review, and cer-
tainly do not warrant lower prices for
wheat. Values may drag little lower:
owing to lack of speculative support,
but natural laws cannot be ignored
with impunity any more in business
matters than in physical life. 1t is an
assured certainty that American sup.
plies of wheat will be more nearly ex-
hausted before next harvest than at
any time since the late European war.
It is equally certain that the amount of
wheat on passage will fall below the
lowest previous record. Stocks of
wheat at home and abroad are being
rapidly depleted. That values should
decline under such conditions is one OF
those inexplicable phenomena that
should invite rather than repel specula.
tive investment.
Thomas Bellas, the most indefatig-
able compiler of figures in Chicago,
having bullish tendency on wheat,
draws attention to the visible supply
now, compared with former years. Mr..
Bellas says: "The visible supply of
wheat in this country has decreased
from the first of the year, or during the
close season, 12,929,O 900 bushels, and
should it continue to decrease only in
the same proportion till the first week
in May (and it is almost certain to de-
crease some millions more when spring
shipments begin), it will stand at that
time 29, ,493,OO0 bushels, compared
with 55, ,458 900 bushels last year at
the same time. It will be the small
est stock in the first week of May in.
twelve out of fifteen years."
Market quotations.
Portland, Or, March %, 1897.
Flour-Portland, Salem, Cascadia
and Dayton, $4.25; Benton county and
White Lily, $4.25; graham, So. so; su-
perfne, $2.7 per barrel.
Wheat-Walla Walla, 49, roc; Val
ley, roc per bushel.
Oats-Choice white, 38@4Oc per
bushel; choice gray, 36@37c.
Hay-Timothy, $13O 13. SO per ton;
clover, $11.OO@12. 90; wheat and oat,
$9.00@11 per ton.
Barley-Feed barley, $3.50 per ton;
brewing, $18@19.
Millstuffs-Bran, $500; shorts,
$16.5 so; middlings, $26.
Butter-Creamery, 45@50c; dairy,
30@40c; store, 171a @3oc per roll.
Potatoes-Oregon Burbanks, go q roc;
Garnet Chiles, roc; Early Rose,
$4,000 per sack; sweets, $500 per
GENITAL for Merced; new potatoes, 61sc
per pound.
Onions-$1. .75@2.O 90 per GENITAL.
Poultry-Chickens, mixed, 50. 500
800; geese, So. 5O@4. so; turkeys, live,
11@12c; ducks, $4,000 400 per dozen.
Eggs-Oregon, 9@91ac per dozen.
Cheese - Oregon, 121ac; Young
America, 1870 per pound.
Wool-Valley, lie per pound; East
ern Oregon, 7@9c.
Hops-9@1 10c per pound.
Beef-Gross, top steers, $2.75 a 3. 90;
COWS, $2.25@2.5O; dressed beef, 40
SIC per pound.
Mutton-Gross, best Sheep wethers
and ewes, $3.O0@3.25; dressed NUT
ton, 5 u @6c per pound.
Hogs-Gross, choice, heavy, $3.25@
$50; light and feeders, So. so @3.00'
dressed, 81. SOC 90 per cwt.