Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1897-06-10
MARKETS OF THE WEEK.
How Prices Of Farm Products Are
Now Selling.

outlook as furnished by McLain Bro
4 Co., commission merchants, Rialt
building, this city, for the week enc
ing today is as follows:
General business throughout the
country has, during the past week,
been uneventful in character and
moderate in volume. The weather,
which for some time has been un.
seasonably cold is chargable with the
inactivity Of which dealers in sea.
,onable merchandise complain and with
stagnalion in other lines which depend
upon the free marketing of spring and
summer goods for support, Funds con
tinue to accumulate in banking centers
although IN some localities there is a
gratifying increase in the demand fol
money for business purposes which is
readily supplied. when the security is
satisfactory at u very low interest rate.
The encouraging crop reports from the
major ,orlions of the West and North
west inspire confidence in the future Of
railway securities, and a general in
crease in tonnage enables many roads
to increase their resent earnings,
Our wheat market has also been in
lupnced by crop advictS and the pros
lect Off free movement from the South
west at an early date. and has been
subjected to other!niluences Off bear.
isl' nature. Receipts at primary mar.
kels continue unexpectedly large and
raise disluietingdonbts in the minds Of
even thr most persistent bulls as tC
the reliability Of Their estimates Of last
Years crop. indicating as they do. that
their ynesses were much too low or that
the amount in farmers hands from pre-
vious crops was larger than official re
ports indicated, The liberal receipts
coming as they do when SO many mills
are idle relieves the tension due to light
stocks and enables buyers for spot
delivery to supply their needs on
more favorable terms. Foreign adj
vices are less encouraging for hold
ers in consequence Of liberal offer
ings of supplies from Russia and the
reports OF more favorable weather
conditions in Continental Europe.
The reports, however, are not all op-
timistic. there being claims Of damage
by excessive rains in Roumania and of
urtherimpairment Of the cropin South
Russia. Domestic crop advices are
variable and ioreshadow an abundant
yield where there have heretofore been
no complaints of damage and disas-
tr0us failures where the outlook has
been unplomising The most discour-
aging reports come from Illinois and
Missouri, the official report from the
latter State making the June condition
81 per cent on an acreage Of SO per cent
Of an average area. California harvest
has begun and reports from them indi-
cate that the yield will be larger than
has been expected. Speculatiyely our
market has undergone a noticeable
change. many Of the leading bulls
who have for months chung tenaciously
to their holdings, having sold out anu
for the moment retired from the
arena The general trend Of the
news has been SO unfavorable for their
campaign, and the public afforded
so little support, that they evil
IDENTITY deemed it wise to curtail their
losses, and await more auspic-
ions opportunity. which the overcon-
ddence of short sellers, the pau
city Of supplies, or an unfavorable
change in crop prospects may present.
AS usual, when prices are falling,
and the news grows more pronouncedly
"bearish," the short interest daily
becomes larger and the sellers more
confident and aggressive, and until
developes to disturb their
dreams of conquest and awaken
them to sense of impending danger,
they will afford but little support to the
market. II, however, anything occurs
to change the aspect of the immediate
supply and demand relations, or to
threaten Northwestern crop prospects,
they will temporarily become the mar
kets greatest element of strength.
While the short interest has in
creased and several large lines of
long wheat have been sold out, the
offerings have been steadily absorbed,
but by whom it is difficult to determine,
there having been no buying by any one
house sufficiently large to excite COM
ment or to afford an opportunity for
reasonable conjecture. The weather
which have been favorable
for the growing Wheat have been
for Corn, and in many
localities have necesstated consid-
cradle replanting. The market has
responded to unfavorable advices,
and at times shown symptoms of
strength which, however, were not
pronounced to greatly dis
turb shorts" or to outweigh the effect
of liberal receipts and the continued
offerings for Western account. The
damage sustained by unreasonable
weather while it suggests anuntavora-
Bile outlook is not irreparable, comingas
it has so early in the season. and a few
weeks of propitious weather would
doubtless allay all fears of the crops
safety. Although prices are low there
are many short sellers and the
market is in a condition to respond to
any further adverse crop influences
whenever they develope Hog product
is feeling the effect of liberal receipts
Of Hogs and it is believed that the com
bination which has for some time been
trying to ''bull" the market is quietly