The age-herald., 1899-09-02
Ta1bott & Palmer,s Grain Letter


 Talbott .S Palmer's Grain Letter
 By Private Wire from Ware & Leland.
 Chicago, September 1.-Nneat: Liverpool closed b lower. London inactive and 1s lower Paris wheat unchanged. Antwerp unchanged Liverpool stocks Of wheat and flour show fadr sized increase over last month Argentine shipments S72,O0O against 1.056O00 last week. Beerbohm, who is one of the most reliable foreign statisticians, estimates the worlds crop at 376,000,O0O less than last year. Clearances 4f00o0; estim- ated for the week, 3,60O0O0. We conrrm 26 loads for export. Minneapolis flour sales, 33 900 barrels. Deliveries were quite lib- eral here. as they were in New York and Toledo. but were very light in St. Louis and Minneapolis. There have been light showers in the northwest; fair weather IS indicated. There was a show or strength early, based almost entirely on covering by shorts but it was short lived, and the market closed heavy. Business has been restricted by the approaching holidays, there being no session of the board Monday next and many traders were inclined to even up The bulls have been disappointed over the markets action while the locai bear element have been aggressive. With out some very bullish news compiled in the near future values will certainly work lower. Should December be forced under 70 cents which seems likely, 1t will create a heavy short interest and bring in some investment buying.
 Corn has shown considerable strength. Nothing went around on September con- tracts and the great majority of those who had this month bought are standing pat Shipping houses are largely long for this month. The extreme figures that were given out for railway officials months IS regards the outcome of the crop will have to be considerably modified in great many states.
 Oats: None worked, and showed strength within a very small range.
 Provisions: The announcement of yellow fever was too much for the market and there was bad slump, with no recovery. There was little buying by packers and some covering of shorts. We feel friendly to the January futures.
 Murphy & C. m any's stock Letter By Private Wire to Murphy & Go.
 Birmingham, September 1.-The stock market ruled very steady during the first hour this morning but the trading was light, but was well distributed throughout the list. The sharp advances in the Van derbilt list. as well as Sugar and Tobacco. was not fully maintained at the close. A feature of the market was the sharp rally in eTnnessee Coal and Iron. There was re- vealed in this stock the existence of a large short interest and prices were ad- vanced and dropped very rapidly. Fear of an unfavorable bank statement tomorrow caused considerable realizing as well as the holiday Monday. While there were large blocks of stocks thrown over board, es- pe.,;ally in Brooklyn, and prices had a very sharp slump, we still are of the belief that Southern preferred, Louisville and Nash vile, and Union Pacific will sell much higher.
 Features of the market were Louisville and Nashville, Southern. preferred, and Consolidated Gds-Consolidated Gas show ing rally of over six points, while South ern, preferred gained about one point. and Louisville and Nashville one point during the early part of the session, but near the close broke off 12GA in sympathy with the sharp break in c. B. & e., Brooklyn and Sugar Tobacco was also weak during the last hour, selling off about IF per cent. Tennessee Coal and Iron was very dull, and sold off from 991s to 9515. Colorado Fuel ard Iron showed strength early but near tho close declined A. Colorado Fuel and Iron has been somewhat neglected during the present bull move and should sell much higher when any. activity is shown as to earnings of thls company during the past year have been very heavy. increasing over s1 100000 for the year. The issuing of s2,- OOU,0OO more stock may cause temporary decline but we would advise purchase of this stock on any reaction.