Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1897-07-15
MARKETS on 7HB WEEK
LATEST REPORTS FROM TRADE
CENTERS.
Outlook for Grain as Given by Com
petent Observers Effects Of Cur.
rent Events on Business.


| HPNNdi W VIC ntlitCtOT,
CHICAGO, July IA. The market
outlook as furnished by McLain Bros
y Co., commission merchants, Rialtc
building, this city, for the week end.
ing today is as follows
Although there has been no serious
decline in the stock and bond list dur
ing the past week, there have arisen
several disturbing factors which may
ere long precipitate more than a mere
reactionary break, and which promise
to emphasize the existing uncertainty
as to the probable state Of commerce
and finance in the near future.
The miners strike, which from the
fact that it came unheraIded and was
preceded by few premonitory signs, al.
though but recently inaugurated, is al
ready causing Inconvenience and is re-
sponsible for the involuntary closing of
a number of factories in localities
where fresh supplies Of coal are unob.
tamable; and unless soon ended will
become a disturbing element of no
mean proportions. and with the engin-
GERS strike in the United Kingdom.
which promises to become the greatest
labor and capital contest of this cen
fury, may soon create apprehensive
fears for the stability Of railway and
industrial stocks.
Inc freight war truce, from which
operators anticipated a satisfactory
adjustment Of discordant difficulties.
seems to have been Intellectual, and a
reopenng Of hostilites. because Of the
refusal OF the most aggressive road to
submit the dispute to arbitrator. is
imminent.
The wiley Turk has once more be.
come an object Of anxious interest and
adds something to the disquieting I'm.
certaintes.
The willingness of the public to en-,
gage IN speculation is evidenced by the
alacrity with which it responded to the
recent moderate advance in wheat and
corn, even though the upturn was
caused more by the possibilities of
crop damage than by any injury yet
sustained. The interest manifested in
corn was significant and augllrs well
for the future Of the market for that
cereal whenever anything occurs upon
which to predicate a bull movement
Although the weather has been about
all that could be desired for the grow
ing crop, the fact that it was being
damaged by hot winds over a limited
area IN Kansas was sufficient to revive
interest and to at once
broaden the market--a significance
franght with promises if anything oc-
ours to seriously curtail this seasons
yield.
The advance brought somewhat freer
offerings from country points. and re-
celpts In consequence will probably be
more liberal. The export movement
has again become large, and will, II it
continues, prevent larger receipts from
becoming burdensome. 1t is claimed
that the low price has proved SO at
tractive to foreigners that they have
accumulated excessive stocks, and that
some Of them are getting out Of con.
dition.
The government report, issued on
the 10th inst, places the average cop.
dition of the crop on July LIST at 500,
8 points lower than for the correspond
Ing date last year, on an acreage l.2
per cent less The condition of wheat,
winter and spring combined, is placed
at s4.S. Winter is Sl.2, or ~ points
higher than one month ago, and spring
sl.2. or l.6 points higher The per-
centage of crop remaining on hand is
estimated at 5.4.
The wheat market has been innu-
enced by the action of corn and has at
times ruled quite active; the July op.
ton has been cratic and its course has
naturally affected the deferred futures.
Offerings of new wheat to arrive dur
ing this month are daily becoming
more liberal Harvest is progressing
rapidly and favorably and the concen-
,us of opinion seems to be that the
quality is fine and the yield in excess
of anticipations. The reports of dam
age to French, Russian and Danuban
crops have become a part of the regu-
ar daily news, accompanied by state
nents that foreigners have been large
buyers of American wheat, but as Eli
'opean markets still show signs of
weakness, the trade receives the re-
1orts with increduity. That some
lamage has been sustained is doubtless
rue, but that it is serious seems i'm
with present low prices, how
'yer, even moderate curtailment of
'oreign crops would prevent any
marked decline, and with depleted
tocks would furnish the basis for a
higher range of values, The worlds
'isible supply as compiled by BeerJohm
md Bradstreets on July | was 10, 243, 900
H. as compared with lO5, 240, 1000 bu
me year ago, the smallest supply re-
ported since August, 1890.
The paucity of stocks will assure an
EXCELLENT demand for wheat of such
lnality as we now have assured, and
'nly unfavorable trade conditions can
prevent a recovery in prices whenever
bau n M ppJ 81, |