The San Francisco call., 1897-06-06

There has been noIhirg of sensational charac.
! ter IN the WHEAT market during the past week.
rading has been largely pro:essloi al. Long hold
/ ets OF July contracts have dumped their wheat
/ rather freely upon the market This has relieved
the congested condition OF the MARI ct materia Iy
| July has no small short interest The bears have
tried 10 force prices down in order to reach long
wheat which has stop-loss limits Their Efforts in
many ways have been successful
The Stase crop reports received during the week
snow some improvements. Kansas reports esti-
mates the wheat crop of that State to Ue so O0O
600, against former estimate of 10000 OOO
Michigan SHOWS Improvement of . per cent a.
compared with the previous report Missouri
also falls into line with increased percentage.
Reports from the North Invest a re- most favo a hIa
to growing cra ps Frosts early in the week did no
part cular damage to wheat. he time is draw
ing close when weather conditions viii have
much to do With The prospects of spring wheat
a little m istuIe over the Northwest wou d be a
most welcome change Just now While crops are
not suffering vet the ground is becoming dry and
crusty. There is still fair m DISTURB the ROOFS
southwestern States are about begin cutting
Wheat. Up TO the present time the weather has
been most promising If Kansas continues to be
favored for the next three weeks as in the past
two mon hs she will have nothing complain Of
Illinois, lnciana Michigan and Missouri seem to
be the unfortunate states this year as regards
Wheat raising. Their crops will be the smallest
for years.
The cash market was not altogether assuring
During the early part Of he week there very
little demand; later brisker feeling developed.
For choice grades premium of Z1393c was paid
over market quotations. Receipts a this point
nave been very small There is now in store ooth
IN public ana privale elevators about a. sou 600
bushels, which Is owned ~ eleVa or interests
Minneapolis stocks amount to 1900, 900
bushels, Duluth less than 4,U00 900 Shipments
for the week have smouuted to 1850 0OU bushels.
Inc visible supply ought 10 decrease l,75O,O
bushels.
The Government report, due June TO- will treat
with spring heat conditions. The acreage is
estimated by other sources OF authority al 5 per
cent increase over that of last year To-day's
market was one tina, q id not INSPIRE either buyers
or sellers Trading was eedlngly dull and of
an eVenlng-up Character by those who a d nor
care 10 go over sunday and Monday with ont.
standing obligations
French markets were lower.
Money on call IL per cent: time money-sO
70 W DAYS, per cent; months, ZLz per cent:
on good mixed Stock ike ha tge collateral: prime
lndorsed bills receivable 3tG31a per cent: choice
and prime single names, 3lo0l per cant. vood
names 400 per cent. Posted asking rates Tor
sierllng S4 S613 for long bills and 81 So for de-
mahd Actual rates long bill 81 S53L04 S6
domestic exchange on new York and san
Francisco, sight l712c premium, telegraph 2Oc
premium ~O0
Money in London ~ per cent Rates of dis
count IN open msrket tor both short ana three
months oiils Io-le(Gl per cent Amount of bullion
gone I'M INTO @ dhe Bank OF EngIand on balance to-day
Liver ool curb quotations were depressed. Farm
$4,000 quarters. F eA
July wheat opened at e71sc and gradually de-
cllned 20 66asc, from which point the marxet
slow r-gat'ed the early loss closing 68Zsc.
september was more inclined TO weakness han
July, closing at loss of ssc for the day against
14c for July.
Cudahy ana ether large operators were said TO be
fair Hbyers or v heat to-day. he market closed
steady with opinions about equally divided.