Belding banner. (Belding, Mich.) 1889-1918, 1897-05-20
SPECIAL MARKETLETTER

Tie following market letter is fur.
niShed MS by McLAIN Bros. a. Co,
Commission Merchants, Rialto Build
ing Chicago:
lhe chief items of interest in recent
financial news are the reports of
steady increase of lOanable funds Al
banking centerS, without an adequate
ueinand 10 sustain interest rates and
the disquietng effect of the possihili-
Ties attending the action our country
taxes IN Cuban affairs The latter not
only Affects the volume Of domestic
business IN stocks and bonds. but is
manifest IN the interest taken i'm Amer
icali securities abroad us well. and I'M
VI ,he poiicy To be pursued is known,
anu us probable result determined.
tnere VIII doubtless be but little i'm
provement in the demand either at
nome OF abroad Although the roads
have improved and lneu n crafty.
| ing increase in the trade of whoIes.Iaya
IN portions OF the west aud northwest
tne general business of the country con
tihues only TAR In volume. and specula-
1--WE ventures IN anything that does not
promise immediate results do not seem
I'd ne alIlirlng To any great number,-e
persons having the means to invest
ne Eastern question, which had s,s.
sided INTO state pacific enough IN an.
courage the belief in speedy and am.
icaDie adjustment of claims and differ
ehces, IL once more accorded serioI,s
consideration, the attitude OF the Sultan
exciting some apprehension OF dissen.
I,ois that may again vex the great
european powers and involve them in
dangerous difficulties. "
Ine caIlSnS which nnn,..
Improvement in commercial and IN
uustrlal affairs are also a factor in do
termlnng the course and action of o,r
wheat market. which continues to fine.
Iuate rapidly within IA liberal range i'm
Prizes anu 10 attract more speculative
INTEREST lIan all other commodities
combined. The trade is being jnflu.
enced by a variety of statistics cron
reports and estimates sufficient to f,,r,
nIsh basis for operations for either .
rise OF Iall IN prices, and the market
moves rapidly In conformity with the
trend OF the daily news. .'o
Inc weather. which has been favor
. apie lor the growing crop over almost
!ne ehLire country, has exerted n bear
loh iIlluence ana embroidered few
aSs, ooaIve pears 10 attack the market
they gradually gain allies whose com.
Dlned lines soon create short interast
large enough to force rapid recoveries
from extreme quotations as soon 40
anything bullish develops.
Ine demand for spot what for do.
liesIiG ana foreign use, which arises
on All the Sharp breaks, soon alarms
Snorls ana inspires bulls with fresh
courage and furnishes the reo,,irad
stimulus This battledore and shnttia.
cock game is likely to continue with
suiilclent animation to prove interest,"
ing until receipts of new wheat become
liberal enough to check it. While
pears are anticipating an unusually
carry harvest In the southern states.
lney are alive to the danger of over
selling the market before the move
uienI becomes large enough to furnish
o. .i asu w, lnarkets with liberal receipts,
,.'i VIII probably continue to run in''
m VIE tle market acts strong. The
crop In the southern states nrom;sas
IN abundant harvest on a largely in
creased acreage, but there is hit little,
assurance OF its reaching central mar
Ae :, IN great volume. for supplies i'm
nlilers hands IN winter wheat sections
ire sinai, ana 1t will take a very free
movement 10 meet the demand from
'naI source alone. AS the old wheat
; rapldly disappearing the prospect of
VI urgent demand on all good breaks
5 tlattering.
Coarse grains are attracting more
'ltehtloh, oats especially being favored
y country operators who are attracted
y tie low prices current. and inspired
y the DelIef that a large crop from !.
mn stand on decreased acreaoe ia
Improbable. The weather is the prom.
hent factor III corn. Tie short inter.
ST is large, and "A sudden change Ia
ola ana wet would place short sellers
I the mercy of holders.
Inc visible supply of grain i'm the
Jnlted States and Canada shows the
blowing changes for the week: Wheat
ecreased 2, l25,OOO bu. corn decreased
ls5,OOO bu and oats decreased 9I9. OOd
u V'0'