Abilene weekly reflector., 1897-08-12
MARKETS On 'IHE WEEK
LATEST REPORTS FROM TRADE
CENTERS.
Outlook for Grain as Given by Com.
petent Observers Effects Of Cur
rent Events on Business.
Special TO the Reflector.

Special to the Reflector
CHICAGO, Aug. u. The market
outlook as furnished by McLain Bros
Il Co., commission merchants, Rialto
building, this city, for the week end
ing today is as follows;
In a general way all the commercial
agencies report an improvement In
business throughout the country, al.
though there Is considerable irregular
ity in the returns. the miners strike
evidently interfering greatly with 0per-
atiOns In some sections, and the liberal
movement of wheat stimulating activ-
ity in others Retail merchants are
purchasing for fall trade earlier than
Is customary. being encouraged by the
prospect of increased sales In cOnse-
Quence of the promise Of the liberal
marketing Of an abundant wheat crop
at ut least fair prices; their purchases
are fairly liberal and are doubtless en-
larged somewhat beyond what they
would otherwise be In anticipation Of
the general rise in prices Of merchan-
disc entering into general consumption
which is so generally predicted. These
purchases enable wholesalers to report
a noticeable increase in the volume of
their business, and inspires hope OF re-
newed activity In other lines.
An abundant wheat crop, which can
be sold at remuneratve prices, is an
inestimable boon TO many localities
and individuals, as well as a source OF
qualification to the country at large;
but its influence, while great, is less
important u, u prosperity maker than
would be the assurance of satisfactory
prices for oats. corn and the products
Of corn. On these two crops depends
the welfare of more densely populated
sections than are dependent on wheat.
and on the prices 0btainable for the
abundance now fairly promised must
largely rest the permanence of the
bus ness revival.
Inc st OK market HAS again ielC the
inspiring enec!s OF crop reports ana
more general desire of outsiders to in
vest; in fact 1t Is believed that the re-
cent strength has enabled the larger
holdefs 10 dispo,e OF enough OF tnelr
stocR 70 render u unsale 'of the puDllc
70 lOl'ow tle ADVANCE illrther until u
sharp reacllohary preaK occurs.
Vnf wheat market continues actlve
ana interesting. win put moderate
volume OF speculative trade, illctua'
ions are RAPID wltllln liberal range
10 consequence OF the temper OF room
uaders, me sharp fluctuations ABROAD,
ana the comparatively small volume o'
business; tne Duylng or selling OF mod
crate qVlantlt'es causing greater price
changes tllan usual
Inc wall street c0lere OF traders
tnat ior SO many weeks dominated the
market mas disposed OF b0th lts cash
ana speculative holdlngs, leaving the
market llnhalnpered ana iree to re-
ipond TO the varying tenor OF crop ana
weather news, ana the immediate sup
ply and demand relations,
Advlces IRON the northwest indicate
some Impairment OF tlle crop, but not
OF sufficient magnitude TO materially
reduce tine general promise OF u bo'ln-
to0us harvest, ana returns IRON winter
wheat tllreslllngs Increase rather than
diminish the most optimistic estimates.
Foreign advlces state that the wealth
er IN England has been hot and
sh0Wery. flne IN France, and favorable
III Austria Hungary, where harvest Is
progressing rapidly. There have been
rllm0rs OF the prohibition OF exports
from Russia. and OF reduction OF I'M
port duties by France IN consequence
OF crop shortage, these reports and
their attendant possibilities serve AS
stlmllants to the market, and con-
tribute to the strength exhibited when
Eer foreign quotations are higaer.
A noteworthy feature OF the stua-
ton Is the relative strength OF spot
wheat rs compared with deferred fll-
lures. Notwithstanding the present vol
ume OF receipts; the wants OF mlllers
and exporters are urgent enough to
maintain premium, ana while it ex-
lists the selling OF futures will be more
or less hazardous; for anything that
will curtail the movement from first
hands will at once cause speculative
congestion With the probability of
incSeaSed receipts IN the near future
the market will become more than ever
subject to the EXPORT demand. and on