Belding banner. (Belding, Mich.) 1889-1918, 1897-05-27
SPECIAL MARKET


nished us 10y MCLAIN Bros. & Co.,
Commission Merchants, Rialto Build.
ing Chicago:
There have been encouraging signs
OF Improvement in general business the
past week, which augur well for the
future, and although not pronounced
enough, In more than few lines, to
warrant the prophecy Of a general re-
ylyal OF trade, they are sufficiently sig
milcant To inspire hope of gradual re-
newal OF commercial and industrial
activity. Among the gratifying indi-
cations are greater demand for money
for purely commercial uses and fair
increase In the total bank clearings of
the country as compared with those at
the corresponding date one year ago.
The armistice between the Greek
and Turkish armies has developed a
more stable feeling abroad, which has
! been reflected i'm the volume of bust
ness on foreign exchanges, and in an
improved demand for American secur-
tiles. The possibilities which the Gu
ban question presents tends to restrict
any marked Improvement, however,
I and retards the revival of an active do
nestle inquiry for stocks and bonds.
Our wheat market still rules active
i and irregular, and is daily attracting
the attention OF greater number of
operators because of the possibilities
/ that the situation presents. While the
suspicious weather exerts bearish in
I fnence and encourages free short sell
:. ing whenever there are any indications
OF weakness, the rapid depletion of
: stocks and the fear of the consequences
~ ini snya t.Nt n
i scarcity soon checks the selling on
slaughts and induces liberal buying for
1 long account.
The long wheat, being largely held
; by few wealthy operators, does not
come on the market on the breaks, on
: stop orders and exhausted margins. as
I 1t usually does when held by large
number of scattered traders. rendering
II difficult for shorts to provide for more
| than small portion of their contracts
3 without causing sharp advance.
Late adviceS from France indicate a
state of affairs that ere long may gen
J crate decidedly bullish sentiment de-
5 spite the glowing reports of crop pros
p. poets received from the south and
northwest. 1t is claimed that the crop
IN that country shows an average con
ditiOn IL per cent below that of year
ago, on an acreage s per cent less, and
that her import requirements will be
1900, 600 bu for the remainder of thi
j lcrop year and ", 600 900 bu for the next
These estimates have inspired the bul
{ contingent with fresh courage, ant
have emboldened not few to add lib
Ierally to their holdings.
The fact that many mills in the win
ter wheat section have been closed be
a lcause of the difficulty in procuring suit
liable wheat to grind indicates the pau
lefty of supplies in first hands and en-
e lcourages the belief that but little of TIN
II new crop will reach our market TO
lsOme time after its movement fairl
u begins.
With an increase in the foreign de
n mand, which the French advices sug
lgest, there are substantial reasons 70
4 the belief that before the end of Jul
the situation may become acute. For
leigh markets as well as our own hav
: been influenced by nntimist e estimate
o or AmerIca probable yield and are il
position to respond quickly to any in
iluence that will present less roseat
views. These estimates are all base,
on the result of the spring wheat SOW
IS lngS which as yet have merely a favor
able start, and still have to encounte
The vicissitudes of almost an entir
seasons growth. There has alread
been so much damage to winter whea
O that the spring variety must matur
!. with but little damage to insure al
abundant total, and private advices o
still further damage to the winter GRO
d are becoming more numerous, the Hes
j sian fly having become discouragingl
active in many localities. Both bull
and bears realize that the weather il
: the near future is the most importan
d market factor. and that any chang
that would cause further injury to til
crop would be the signal for a rapi
advance.
n There is but little to be said of tn
d coarse grains, which rule rather stead
! and easy except when influenced b
wheat. Receipts are increasing, am
western operators are inclined to sell
being influenced by large supplies an,
an increase in the acreage planted thi
year
4 The visible supply of grain in tn
United States and Canada shows tn
following changes for the week Whea
t decreased l,44l. 900 bu. corn decrease,
: 1893 600 bu and oats decreased ,087
- bu