Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1897-09-23
MARKETS OH THE WEEK
LATEST REPORTS FROM TRADE
CENTERS.
Outlook for Grain as Given by Com.
petent Observers Effects Of Cur.
rent Events on Business.


building, this city, for the week end
ing today is as follows;
The bank clearings of the country
during the past week show Il decided
improvement when compared with the
previous week, notwithstanding the de.
crease at the south IN consequence OF
yellow fever approximations. and are the
largest fora like period since the second
week in August. The continued move
ment of grain in large volume alfor 3
encouragement for holders Of railway
shares, and is the chief element Vi
strength in the stock market
The outward movement Of agrclll-
tural products keeps foreign exchange
near the gold importing point. and an
influx would soon begin were it not for
the flow OF securities from England
which settles trade balances of that
country without the necessity of its
parting with the precious metal. The
large purchases of wheat by France
promise a gold movement from that
country to ours at no distant day.
The wheat situation remains much
the same save in its speculative feat
ures, the recent decline having ronsd
erably increased the short interest.
leaving 1t in position TO be rapidly
advanced whenever anything Of u
strengthening nature is injected into
the daily news.
The supply and demand relations u T,
now so nearly determined, and then
results are so favorable to the export.
ing countries, that even though the
market be unduly depressed by the
pressure of increasing spring wheat re-
ceipts and the offerings Of aggressive
short sellers, an assured export demand
will doubtless assert itself and cause Il
recovery from all such depressons,
The northern hemisphere crops alt
now practically secured, and their ont
run and condition fairly well deter
mined. and there are no substantial
reasons for raising the earlier Inmates
Of their promise; in fact in some Of he
larger European countries it has beer,
necessary to lower the estimates; IN
France and Italy especially are the re-
suits disappointing, the official returns
showing Il shortage Of about cight,-lve
millions OF bushels in the former and
iifty-siX millions in the latter, The
latest estimates of the London RernW
indicate that European importing collll
tries Will require II, m exporting colG
tries during the crop year 4D9,OlO00
bu OF wheat, Il quantity large enough
to absorb all the prospective slpplle,.
anu to raise doubts AS to the possibility
OF securing 50 great an amount. With
an export demand such rs these .igurea
suggest, and the probability of a de-
crease In Russian shipments, which
late advices from that country Indicate.
the outlook for American farmers Is
promising indeed
The future Of the market largely ,e
ponds on the Russian movement; il it.
decreases materially there will he but
in prices from every break, and posi-
by an upward movement that will Slr-
prise the trade. The southern henri
sphere crops are several months from
maturity, and can afford no relief lo,
an oversold market; their excellent
promise will encourage short selling
and prove an element Of strength by
creating an excessive short interest 10
be provided for.
Our exports are now very large and
show no indicalonsol abatement, such
a free outward movement will absorb
wheat enough 10 prevent the first rush
of northwestern wheat from becoming
burdensome, and will prevent exrrssi .
accumulation before It s over. Winter
wheat farmers seem disposed to await
developments before parting with their
reserves, and without liberal receipIs
from that source the sprjnr wheat
movement will not alarm line trade,
Crop returns from the northwest
necessitale a lowering of preyious ps,i.
mates, and adyices from the Pacific
Coast state that considerable damage
has been sustained in Oregon and
Washington by unwecome rains
Farmers inswinier wheat section ARE
preparing to sow u lalpe area to VIII, NJ
the breaking of the drouth having left
the or und in more favorable si,r,
for blowing.
The recent break in corn Inns ,uuu-
mated from the market A LARGE vol
umr ur speculative holdings and Inns
increased the short interest. fine steady
advance preceding the brenk moi ony
created a large scattered ony interest
but also increased the movement from
first hands and decreased the eypor