Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1897-07-29
MARKETS or THB WEEK.
LATEST REPORTS FROM TRADE
CENTERS.
Outlook for Grain as Given by Com.
petent 0bservers-Efects Of Cur
rent Events on Business.
Special to the Reflector.

Is i"i hiouOu " MClulu DlUo
" Co., commission merchants, Rialtt
building, this city, for the week end
ing today is as follows:
The passing of the tariff bill and the
subsistence of the Turk have removed
two elementsof uncertainty which have
Tor Il long time disturbed business allo
financial circles, leaving nothing in the
way OF sensational character to re-
tara the return of conditions under
wl'lcll natural causes Will once more
become operative, except the great
miners strike. which. although its
speedy lermllaliop has frequently been
prophesed, still continues with I'm.
abated vlgor, and promises to become
An element Of solcitious anxiety before
it ends.
Inc stock and bond market has re-.
sponded to the changed conditions and
brokers' report gratifying improve.
ment IN business. The railway share
market has been stimulated by addi-
Ilonal crop reports, operators in Wall
street evidently believing that the only
llllng necessary to assure increased
dividends is abundant crops. Remun-
tritlve freight earnings, however. are
dependent as much on the price Oh
famed Tor grain as on the quantity pro
u'lced, and in order to maintain stable
prices Tor stocks paying prices for gain
must obtain
Astlle successful issue of stock speru-
latlon depends upon the course OF the
grain markets, the latter offer better
Inducements than the former and
should be objects Of greater interest to
business men and producers, especially
throughout the great west. The neces-
slly OF maintaining fair prices for the
products of the farm in order to assure
returns on railway stocks and bonds
will appeal to the judgment Of, and en-
ilst the support OF powerful operators
having large pecuniary interests in
railway securities and assure their
active cooperation in any bull cam
palgn that promises success.
There are significant signs Of such
support to our wheat market, and it
has been vigorous enough to rally it
from every important reaction and
confuse the more aggressive bears.
The bull campaign has been aided BY
natural causes and has been managed
50 adroitly that the closing week of the
July option finds the trade divided in
opinion as to whether or not there has
existed any organized bull contingent.
The steady depletion of stocks. the re-
ports of European damage and the
hardness of the movement OF new
wheat have been sufficient causes to
an advance without the as
Slslance OF anyone contemplating
squeeze. and both bulls and bears are
as to the final termination
of the July deal. The closing DAYS OF
The month are awaited with anxiety by
some and curiosity by many.
SpeclIatively the market remains in
about the state it has been for some
Time. the bears becoming aggressive
Whenever ii appears weak and running
to cover as soon as any strength de
yelops. The majority of bulls accept
profits whenever there are evidences of
'eactionary breaks. and the market is
kept fairly well eyened up; this polic
any runaway advance on ac-
'oint OF a rush to cover BY a large
short interest. or disastrous break on
he competitive selling of longs on stop
)rders or exhausted margins.
Domestic crop news are all that could |
)e desired, save from portions of the |
northwest, where the rainfall has been |
greater than was beneficial There |
nave been reports OF damage by chinch |
Jugs over limited areas in a few local
ties.
Foreign markets have been irregular,
liverpool showing a tendency to adj
'ance promptly with ours, whereas
Continental prices have ruled weak,
'aris being disposed to decline. The
pathy there is probably due to the
'ilicial French crop report on condition
July 10, which fails to corroborate the
ensational claims so frequently reit-
rated. The report gives the condition
i winter wheat as good in u depart
nents, fair in 81, possible in u. and
in s; spring wheat very good
II > departments, good in is. fair in
! possible in I, and middling in /.
Advices from Canada state that I'M
ess caught by frost the wheat yield of
hat country including Manitoba. will
urnish an exportabIe surplus $1,000, 900
0 2O,00O,00O bu greater than last year.
'he movement Of wheat at the south
vest is being retarded because of the
lacking Of the grain by farmers. who
better prices The fact that
hey are bid much more for their wheat
han they expected before harvest in
uces them to hoard Their erop.
has been delayed in the
outheast and in the Mississippi valley
y rain.
Corn is again attracting attention
nd may at any time become excited
nd active in consequence Of supply
nd demand relations and the specuIa.
i've state Of the market. There is I'm.
oubtedly very liberal short interest
nd several large long lines. Consid
rable corn has been sold to arrive,
mt moves slowly on account OF diff.
ulty in obtaining cars. There is evi
emily less disposition among western
callers to SELL and farmers are dis
osed to hold back reserves until the
ew crop is assured. The export de.
land continues urgent and any mate
ial abatement of the movement from
he west would alarm shorts and in.
ugurate bull market. Export con.
racts and freight engagements cannot
'e filed by sales for future delivery.
The visible supply OF grain in the
United States and Canada shows the
r. I