The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-16
With the Grain Brokers;
Present Market Conditions

to buy so much now. while the war scare has
s0n the ef price he up; that when he tries to unload
maps Armour can afford TO break the market q
s0Od zeal anG stiii make money, If he still has
began to advance. When Armour began - hs .
FACTOR in wheat, about two months and a half or
t bG months ago, in the May option. he bought
Sut he probably took profits on much OF this
PROBABLY cost him a good deal more than 76c.
$50
The American crop is officially estimated at
6SI.O0O,Oo0 bushels. or SO. 900. 900 bushels less than
the estimate adopted in our review of Aug p
when we reckoned upon an exportable surplus
Of 100000 bushels for the current season
The statement would now stand as follows.
Total quantity of ole wheat In the States July
l. 1868. E.Ooo,Co0 bushels; add present crop. s2z-
o00.oo0 bushels; total, no, 900, 900 bushels. ner
contra. domestic consumption for 81. 4O0. O0o naonla
at 30 bushels per head. 800. OCO, 900 bushels.
zO,0GO.V0 bushels; for constituting stools ~ ecu
current season, 100000 bushels: surplus avsue.
Die If eApofuatlon, lZ5, COS. 900 bushels. If these
estimates should prove 10 be approximatal i -
rect, ii would follow that the stream or Aner-
would continue TO now at the same rsfa seasOn
nave witnessed since the commencement Of ~
states have exported at the rate of n Soo o9
bushels per month. or equal 10 l56. OoO. 900 b1s5eGo
America and Canada there would have - tpI
ADDED about S2'OoO,OoO bushels.-BroomhalI.
= +
Northwestern Miller: while trade in A..
revived somewhat this last week from the leth-
argy consequent upon the holiday season. tber.
is still great room for Improvement -
in the price Of wheat made -four values h,ghar
which frightened most Of the buvers fron. a.
market ana at the same time induced
10 come in. Not much actual bushes liners
and mills which sold their output Were TesuIted.
AS 10 export business, sales were Few s
between, Tor foreigners ioeas We're conssaa- t@r
out of line with those of miIIers. Mni-fnnIIaDI
plays the strength usual at this time OF tns
year; demand is good and prices are higber NJ III
they We're a week ago Reports as 10 - uah
ter wheat crop are favorable. as a Will wiz,
indicate thai there j. sufficient STOW nrotectaLn1a
over the greater part or the winter wbest b ~.
War news has affected foreign -four na-Lo,s
more or less and has caused a slightly 80.
tone, though business has remained ouis, =.
G Ga ! me- IvaEg stocks and large receipts. In
All winter wheat grades seem To be cbes~,r ~, -
tney were a week ago Amsterdam stocks sre
some OF the wheat traders have been wonder
ing what would happen TO their marke, a. ,ho
Armour support should be withdrawn. and won
dering why the Armour interest. il it is as bull
alone for a time and let the local and outs5Se
bears sell II on II they VIII. There have been
2 p
Chicago Tribune: lone OF the first matters %
occupy the attention OF the new Board OF Trad.
directory will be that OF adopting the Hosford
system of clearing trades. A ommitte viii he
appointed to investigate the system. which Is
in use by nearly all large exchanges. and has
been declared legal by decision OF the T-nt,@5
states Supreme Court. Under IL a commissioo
man short TO one house and long TO another 81,
the same price would not have his capital ,feS
M in margins II the trades did not settle
I Many small failures Of recent Board of Treds
history would have been averted with this svS-
tenn in force. II minimizes risks and with the
commission rule in force would not reduce
profits. II Is believed II will be adopted"