Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-02-09
Grain NOtes.

A London cable SAYS: Australia expects to export
800. 900 bushels Of wheat.
DISPATCHES from San Francisco report eopious rains
throughout the state. which have greatly improved
the crop situation
Mild weather. with no precipitation. prevails
throughout the country. Possible showers. followed
by a drop in temperature. are predicted.
A BroomhalI cable says: Delayed report Of Indian
shipments las, week to the United Kingdom. zio.wo
bushels. and to the Continent. $1,000 bushels.
The exports OF oats from the United States in the
week ending January %. 1898, were ~1.s1S.9ii bushels,
of barley 2lS.4o7 bushels, and OF rye sii,'st ousheis.
The Chicago Tribune says: THE rich men in the
trade are getting long corn. just as they are becom.
ing owners Of cotton. They are reviving their last
summers theories of a bull year.
Puts on Chicago May wheat. good to-day. sold
at s5i.asstsc. closing at s5ssc: calls" 97asIlsc: and
ssase at M,g y', corn. MAY Aay,, wne ss,. sGio .e eh ."e 2sse.
Yesterdays cearances for export at the four Attain
tic ports were 1921. sis bushels of wheat. s5.o36 pack
OF oats, and "a. 3O5 bushels Of rye. In addition, Gal
weston cleared 7,1i2 bushels Of corn. Total wheat
and -four cIearances amounted to $4,000 bushels.
The primary market receipts Yesterday were $4,000
bushels of wheat. against el7. 900 bushels a year ago.
Shipments were 1000 bushels; last year. $4,000
| bushels. Corn. receipts. SOS. 900 bushels: a year ago.
s22. 900 bushels. Shipments. 1863. 600 bushels; last year,
2S6, 900 bushels.
f. p. Smith had the following from ]. F. Harris
| yesterday: An Antwerp letter says: We expect to
see 5000. 600 bushels Of wheat here from Argentine by
| AprfI i. Miliers here are buying from hand to mouth
and there is no disposition anywhere to accumulate
stocks.
A Chicago message Yesterday read: Joe Letter:
asked a y 10 Inc truth Oh IL SAFE o II SVV,VVp uSucl u
| cash wheat. owned by him in Liverpool. he is taking
the New York May in exchange 1T I5c under, said:
I've have decided to make no statements in regard
s.nce.''
Bradstreet's weekly report of changes in the worlds
visible supply OF wheat is as follows: East of the
Rocky mountains in the United States. decrease
1.ooo. 900 bushels; Europe and afoat, decrease $4,000
creased 1.166. 900 bushels. and oats decreased lls.oN
bushels.
Export sales Monday we're reported as follows: At
New York 9a0 OdO huSbelq No . red q arrive for
Liverpool account: 5000 bushels No. 2 red at Balti-
more: ~. 900 bushels No. . hard Kansas at Galveston:
PAS. O0) bushels Of corn and 10. 900 bushels of oats at
New York. and 1885, 900 bushels of corn and $4,000
bushels Of oats at outports.
A Minneapolis message said: The Denver & Rio
Grande railway has Just made a tariff of i5c per 100
from the San Luis valley to New Orleans. whereby 1t
Is to take i.5ooooo bushels OF wheat from this i.us
pocket in the Rocky mountains. the wheat being OF
superb quality, g. pounds to the bushel. 1t suggests
that marketing from unusual sources will be large.
The story that Joe Letter has been trying to borrow
money is denied by him in a Chicago newspaper. in
which he says: My bank balance is larger than 1
know what 10 do with. 1t is not true that l have
tried to borrow 81. 900. 900 at New York. and it is not
true that / have tried to borrow 81. 900. 600 anywhere
else. / am not a borrower anywhere. and do not ex-
pect to be. If / had occasion TO borrow money l could
get it cheaper here than l could in the East. l have
authors of the story there. / shall. not permit It to
pass unnoticed. 1t is merely one of the numerous ef-
forts of people who are short and in desperate straits
to break the price Of wheat to relieve their own sit
uation.'- All the information in regard to Letters
financial position is. and has been. Of the reassuring
sort. His deal was financed months ago. and people
in the banking business who know say he borrowed
his funds cheaper than anybody ever did in any great
wheat speculation. That is saying a great deal, be-
cause Armour has run wheat deals at various times.
and no one can borrow money cheaper than the big
packer. But Letter had this advantage. a period of
cheap money. Chicago has never seen anything like
it-time money begging and rates in a Western city
lower than in New York. and so low that millions of
Chicago money hive been transferred TO foreign CAPT.
tails because Of the better interest rates ruling over
there. This situation has been greatly TO the advan-
tage Of the Letters. They had the best sort Of COL
lateral to borrow on. and they found the money mar
ket the lowest ever heard of. 81 can hardly imagine
OF wheat dropping low enough said Letter, TO
compel me to figure as a borrower anywhere"
Car Lot receInIs Of wheat.