The Birmingham age-herald., 1904-07-21

insufficient demand were cited as repre- senting their principal troubles. Sales of spots Increased to 5000 bales executed at decline of 20 English points from Mon- days quotations. and cloths were report ed from Manchester as being in more demand
 Opening prices here were dominated by the excellence of the government weaths CT chart and unfavorable foreign ad- vices, but the lower early prices were of short duration and around yesterdays closing figures the market became very quiet until later in the session when wave Of covering by shorts caused further advance to be recorded.
 Early news was in sufficient supply to have inspired more activity but influences ordinarily having 8 decided effect on prices are inappreciable in results. Ex- treme conservatism is apparent opera tors with bearish inclinations seem sat isded with the extent of their present commitments, and the supposedly large short interest deters many from becoming interested in accordance with their con victions. Again, there is almost a total absence of speculative purchasing with a view of permanency and trading gen. erally has resolved itself into scalping process with only a narrow range of values for operations.
 Wheat-There was a rush to buy at the start due to higher markets abroad and lower consols that brought about fear of foreign complications, but great deal Of long wheat was for sale with offerings of July so large that prices broke badly. the selling pressure being increased on the belief that Russia had to apologize to England, that was reflected in consols advancing. Sentiment was quite bearish x.rtt h | fxyars nI I glowing reports being sent in from the spring wheat regions, while holders be- came discouraged and threw over the fu- tures., Slight recoveries were brought about, but with further declines appear ing we would favor covering of shorts, and taking on some wheat for a moderate profit
 Corn-The futures started strong Liver pool being IA higher, on need of rain in Roumania. The crowd were bearish on the fine weather, but the Iowa reports said the stand was below an average. owing to poor seed, while the outlook in the southwest was none too favorable. There was some commission house sell ing of July. but replaced with September purchases. Sentiment is somewhat mixed, although many in the trade think that prices should work lower
 Oats-Crop prospects in the northwest were fine, but heavy rains in Iowa were bullish factor, although the break in wheat started selling of September and December. We think this cereal is cheap and favor purchase on soft spots.
 Provisions-Provisions were very weak in sympathy with a saarp decline In hogs, more being on the market than wanted and there was selling of September ribs and lard by Armour brokers. Senti- ment was bearish on rumors of an early strike settlement and if confirmed will re- suit in big run of hogs.
 Stocks-Irregular in it's movements to- day the stock market however cratic did not show weakness, and the influence of foreign complications was thrown off.
 Manipulations for the rise continued, and it Is evident from the days opera tions that the best plan for quick returns is to buy stocks that suddenly become bullishly active on rising volume taking small profits In this way the movement will not be missed and the best results will be attained.
 The operations today show the same az gressiveness heretofore retarded and while 1t may safely be said that reac- tion Is long over due so long as so many watch for 1t, 1t will hardly undertakes