The St. Louis Republic., 1903-01-02

, lea and Mexico have been smaller than in
previous years.
WHEAT MARKET.
At leading domestic -four mills all pre-
S,oTs n ,;, ,rsSvsGS OF weekly PTUdnsti1n have se
| just closed. Home consumption has been
large and also exports of flour. which ap-
pear to have attracted more attention
abroad than wheat. the shipments of the
two being about equal in November, very
abnormal state OF affairs. Shipments dur
| were los. lS1 $50 bu.. Hour included. COM
pared with 126 92S l62 bu. In the correspond
Ing months of 1901. Although the loss from
the previous years exports appears large.
It must not be overlooked that comparison
Is being made with much the heaviest year
on record the total for twelve months end
THE CORN TRADE.
Agricultural results for the last year and
general business conditions Tor the coming
year are both In no small degree affected by
the corn crop of 1867. Following a period of
almost famine scarcity of the maize crop,
the country was blessed by the heaviest
yield ever grown, In part due to the great
expansion OF acreage because of high prices.
Moreover. the grower is receiving an abnor-
maliy high price for his product, despite the
certainty that a record breaking yield is
coming on the market. Quotations are sus..
tanned by the low stocks at all points and
, the low grading Of early receipts.
Just prior 10 the opening of the crop year
on July the domestic visible supply was
$4,000 bushels and even after a fairly iiber-
al movement of the new crop the calendar
year closed with only about 6.0oo.0Oo bushels
ct 6sisc, and advanced still further as
the official report showed only about 3'7 .0O0.-
90 bushels n farmers hands on March /:
the two preceding years. Strength contin
@ ued until .aEc was quoted in July. but
prospects. and CSC was touched in August.
Instead OF responding TO good news as the
season advanced, there. was much imitation
brisk demand for ali receipts. making the
market especially responsive to operations
for the long account. which were carried TO
extremes In the Decembet option, and when
that month arrived there was a disastrous
collapse at the West. With this imitation re-
wholesome and foreign inquiries increased.
FARMER FORTUNATE.
From the producers point of View the
year 1907 was much more satisfactory than
any preceding year In the nations history.
As TO quantity the Weld of all grain was a
bumper. estimates based on the latest off,
s e!si d figures placing the corn crop at 2.5ia,-
oa;; sssssse bushels % 0s bariey 1ss saiss is o3 q
bushels: rye, IS, s,e2S,0 900 bushels. and potatoes
In every case. except wheat, there appears
n large gain over the preceding year. and
few other yields were as large. while the in
crease in corn over the previous crop Is
Quantitive results were not the mos; graft
Tying feature by any means. however for,
In previous years of big crops, the accom-
panytng low prices have often left little
profit for the grower. and in some cases the
surplus was used for fuel. very different
situation confronts the present holder of
grain. Practical exhaustion OF stocks at
the opening of the Season and abnermaliy
brisk demands have sustained quotations at
a firm position.
MEATS AND DAIRY PRODUCTS.
Prices Of meats were considered high in
1901. having risen above all records ,.nce
1888 but the year 1907 carries the comparison
six months mess pork ruled between SIS and
h,EhsE average ,S6as than SIS per barrel Lard
reached cents, and the average live beeves
sosshsa hgndTed pounds At times
products above the position sustained by
supply and demand. but in the long run the
natural law prevailed. and prices were held
up by the ,aa Shortage i OF corn and big con,
wage-earners. In the face OF curtailed
supply. and exceptionally lightweight re-
ceipts. there was ready market for all
SILVER BULLION.
The year 1901 was considered remarkable
bullion. opening and Closing quotations - be-
ing about 10 cents apart. Yet another sim
ilariy perpendicular drop was seen in 1902,
such consinSoss ont decline has aecsed fenss pro
ducers seriously md also dealers. while
the currency basis of several countries has
year every record was eclipsed. and the in
trinsic value of a silver dollar became lit
,bs ,e ~Ste sSIs 1hsn sa ssats SaI putting
OF course, gold standard countries are
not affected In. regard TO the safety of
tions on a silver basis have found no little
difficulty in e1ecting International pay
ments. As the last country to. make the
has been much agitation on the subject.
and Se.via made the firs, alteration. Phil
ippine business has been disarranged. and
Kress to straishten out the difficulty there.
China and Mexico are the two important
countries stu on a silver basis. and owing
to the prominence Of the latter In the pro-
duction OF silver. it Is strongly urged by
many that no change would be desirable.
THE STOCK MARKET.
been most eventiul. Wal! street did not wit
ness the volume Of speculation that made
lsoi memorable, nor were there any OF the
OF stock trailing in recent preceding years. /
Quotations established new high-water !
marks freeuently until September 9. after
which there was severe reaction. with |
gradually saggtnS quotations until the clos |
Ing week Of the year.
This was in sharp contrast to the prsc- |
closing months of 1901, when the highest !
prices ever recorded up to that time We're |!
advance @ in June. There was as no s approacR % to |
the highest single days sales OF S.iat. .4i5
shares. on April %. 1901. Eor the marvellous /
weekly aggregate OF la.lI,tSo shares for the !
week ending May 3. 1901. These seasons Of .
activity were not even closely /!
approximated by the 1.ss4. $50 shares on April |
q or the largest weekly total OF S.ssa. $50
shares. for the week ended Aprf. "a.
After recent years OF weak or declining
for wool. the splendid advance and
vigorous activity OF the past year make a
most encouraging contrast: The depression
continued until May /. when the average
Of 100 grades had fallen to 1a.51 cents after
which there came a steady improvement,
without even check. until the average rose
to 0.s4 cents Some recovery was due re-.
gsrdless Of special conditions, In addition to /.
which there was the stimulus OF an abnor.
nally large home consumptiye demand.