Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1900-10-11
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New York-Values in the stock market
have risen rapidly during the week, and
the trading has been on a greatly i'll
creased scale. Recent reports Indicate
continuance of disappointing conditions
in few lines of trade, but authorities
agree that business as a whole is pros
porous. Cotton and grain are going out
in large volume, and despite the fact that
the United States is accepting govern
ment loans from Europe in lieu of the
cash due this country, sterling exchanges
is declining in manner that suggests
gold imports in the near future. Money
is firm, and is likely to become frmer
before any material ease is Witnessed
This condition of affairs is, however, al
ways to be expected at this season of
the wear. The demand for crop-moving
purposes is heavy, and until this demand
is supplied the reserves of the banks at
all the large centers will be drawn upon
to greater or less extent. The surplus
reserve of the New York banks has been
cut in half in the last few weeks. but
there is still sufficient amount of funds
on hand to keep the money market under
control.
Chicago-Speculative dealings in grain
and provisions were not particularly ac-
tive during the week, but prices were III
the main firm All the chief speculative
commodities at the close Of Saturdays
session showed more OF less Improvement
as compared with values at the end of
the previous week. In corn, pork and
ribs for delivery during October there
are peculiar existing conditions connect
ed with their speculative position which
threaten harm TO those who have sold
them short. Each of the specified COM
modities is III small supply with no pres
ent prospect of any material addition
during the current month. AS they are
also in few hands, with considerably
more sold for delivery than can be sup
piled from present stocks, the immediate
outlook for shorts is not favorable. Spec
ulators i'll wheat are as much divided
over the question of the amount of this
years domestic crop as they have been
ever since the beginning of the harvest
Receipts to date have been ON heavy
enough scale to suggest a larger total OF
available wheat than the bulls are willing
to admit as possible in a season of so
much acknowledged damage to both Win
ter and spring wheat in some of the more
important sections of their growth. Peo-
pie who still look for higher prices be-
cause of that damage are buoyed uD by
the expectation that before long receipts
will drop to a point so small that con-
viction Of the deficiency of the years
production will be forced upon the most
obdurate Of the present disbelievers in
any substantial shortage. as compared
with the production of the year proceed
ing Considerable reduction this week
in the rate of farmers deliveries, COM
pared with those at the similar period
of the previous season, gave some color
to the claim that the proof Of the def
cheney of this years crop had now begun.
But those holding the contrary opinion
of the size of the crop claim the falling
off this week to be due to temporary
conditions of the weather and necessary
work upon the farms; they refuse to
abandon their previous opinions just be-
cause of few days less liberal receipts
for which so ready an explanation can
be offered.