The Birmingham age-herald., 1904-06-24

nistic attitude by London operators and the unwillingness of spinners to buy largely, preferring to await future crop developments from both America and East India. now regarded as promising, and adjust values on that information. Manchester advices furnished no encour- agement in reporting a quiet cloth and dull yarn market.
 The influence of the lower foreign mar ket was promptly reflected in our open ing and prices worked lower before the early selling wave was spent. offerings continued. free and further declines seem ed to emanate from buying by shorts. As a general thing, rains have fallen where needed and conditions are so favorable that the absence of serious complaints from any section unnoteed, hence it maybe expected that sharp reactions probably commensurate with their ul- innate importance, will follow the advent of any news detracting from present es- innate of the progress of the plant. Such events carefully considered as tol their extent in conjunction with the prevailing trade conditions, will for some weeks fur- nish the best guide to operators and probably the most advantageous results will be obtained by those who accept the higher levels with view or com pleting their transactions on subsequent declines.
 
 at one time on rains in the southwest higher cables and reports of damage in Hungary and Roumania. It was thought that Armour was a buyer of old July, wbile selling new, and there was enough in the situation to frighten shorts Into covering Good buying appeared Tn sep tember, but advances did not hold con- siderable long wheat coming out, largely in old July notwithstanding the good
 
 business. It rather looks as If the dif- ference between July and September would narrow, and we would favor pur- chases on the later months on dips. Corn-The Price Current mentioned backward growth although crop making good progress, but there was. quite a furry in the July future carrying II to a premium over September on sharp demand growing out of disputed trades. The advance in July was more than Sep tember we believe, to warrant purchases cn all weak spots.
 Oats-Price Current reports was bearish but advances appeared in sympathy with wheat and corn although they did not hold. Trade was light and without feat ure. Cash sales, 150OOO bushels; export sales at seaboald, 30,000 bushels.
 Provisions-Hogs were in larger supply than expected, while the stock of lard shows an increase of 250O0 for the month. Ribs, 2sOO.0o0 pounds. Offerings were rather scarce, except a little selling by | VI Nestern packers but the Cudahy's took l the bulk of the offerings with the mar ket displaying strong undertone.
 Stocks.--'The stock market today start ed off in good shape but dullness suc- ceeded, and while the market was strong l there was little improvement up until late in the afternoon.
 The unanimous nomination of Roosevelt was received with apathy, but there is an under-current of bullish news induced by the continuance of the investment buying which has been going on for long time 1 There is a strong probability of a good bank statement, although the loan ac- count may modify the increase in sur- plus reserve. The floor element seems to be very optimistic and inclined to dis count the expected good bank statement The reports from crop sections of coun- try continue to be good and there is nothing wanting but an outside interest to make a good. strong market. It Is not 1 likely that such outside interest will be secured for some time, however, as the political campaign is likely to engender sentimental market of trading nature Sales, 215,50O