The Mankato free press., 1903-10-16

northern, 1901 ,l29 cars; lower grades
l,3l2-359 cars. We continue firm believ-
ers in high priced wheat and think wheat
! is safe purchase at this level There
certainly is nothing in sight to warrant
more than temporary declines, while a
bull movement, like we experienced on
Thursday night might develop at any
time, and usually does when least expect
ed.
| The favorable conditions that existed
during the first part of the week for the
maturing of the crop was met be re-
newed selling in all markets and while
this liquidation of long corn was in prog
ress, a new low price had been estab-
lished, but the trade was quick to adjust
themselves to the new level and the
price has since had substantial ad-
vance, which is thought to be but the
beginning of an upturn that will even
tually come and carry prices much high
er. The support that has been so much
in evidence has been again encouraged by
the decided falling off in receipts and in
improvement in the shipping demand
both for domestic and foreign account.
Several days the daily shipments have
exceeded the amount included in the ar
rivals. The close tonight is marked b.
this activity in the buying for invest
ment and the ready acceptances of all
offerings. Belated shorts yet have
heavy line to cover and will do so on
further continued strength. Crop dam
age reports have been plentiful all week
and the claim is made that over very
large area corn this year will be of low
grade. According to the government
the loss from frost in Wisconsin, Mime
sofa and South Dakota will run from
10 to 40 per cent with the loss in Ne
braska even higher while in the states of
the Ohio Valley there has been serious
damage from drouth. The prominent
COIh SlOWCI VI IOWd Wllllc III
recently said 'Towa looks like one-half
crop" and when asked about the late
corn replied nothing better than feed
was expected at any time, and but little
better than that was realized" Good
corn promises to be in splendid demand
right along and with the amount fur
nished by Argentina falling off, think it
time to take hold on all declines.
Oats.
Oats have acted as was expected, de-
clining moderately during the early days
of the week, but developing consider
able strength with the better tone to
both wheat and corn. The trade has been
more or less suspicious of the operations
of the owner of big controlling in
terest in December, but this selling has
besn traced to other parties and the
close tonight finds the market in posi-
tion to advance several cents higher.
Receipts have shown scme increase until
lu6 Udu WtdlHel lEltI lSItQ anu ldl liclS
are not likely to market again freely for
sometime Stocks of Standard Oats in
Chicago are under 100000 bushels and
only 100000 bushels all told, and as
the month for heavy deliveries has past
we look for still further reduction of
stocks from this on. The worlds stocks
according to Bradstreet increased 43,-
600 bushels compared with an increase
last year of 64S,O00 bushels. Shows
report on crop of 327, 100000 bushels
was regarded as altogether too high and
had no influence. We believe oats bought
at this level will prove good property to
own and would not delay making pur-
chases.
Provisions.
For the week provisions are lower,
yet prices are advanced easily ON small
demand, providing it comes from the
right quarter. This market has been
governed largely by the lower prices
obtained for hogs Receipts although
moderately over year ago are sharply
under the average for the last few weeks.
The feature continues to be the accu-
mutation of immense quantities of lard
by Swift, of ribs by Armour, while the
buying of pork, especially of the deferred
months has been such as to lead to the
conclusions that other packing interests
are now in control of that product and
that before long there is to be sharp
rally all around in prices. There is much
difference Of opinion regarding the size