The Birmingham age-herald., 1904-07-19

close a decline registered Support In near positions became conspicuous by It's absence Although pills are said to be operating on orders at improved prices. better trade conditions are not sufficiently defined to remove doubts and favorable crop accounts were conducive to recess sions The Manchester weekly report was only indifferent in tenor.
 Our market opened about 10 points low CT for new crop options under the influ- ence of a clear weather map, as praetie- any the only shortcomings of the crop refer to conditions which would be im- proved if not entirely corrected by a few ! days of sunshine Trading was light and the range of fluctuations moderate Mid July conditions figures by Miss Giles of Ss5. in which Texas figures at g. was sufficiently favorable without considera- tion of the previous conservatism of esti- mates from that source.
 In view of those ills to which a grow ing crop is susceptible at this critical pc riod of it's existence, tomorrow's weekly weather report will be viewed with much interest, though in reality 1t is nothing more than an official summing up from an unbiased source of the advices upon which opinions have been formed each day, and in the absence of other infiu- ences, should be without marked effect when both have been fairly and faithfully stated. Tn which case if it Is deemed more or less favorable than expected, 1t would simply mean that operators had been taking undue liberties with general advices.
 Wheat-There was a very strong open ing that was influenced more by the ad- vances abroad than anything else, while there were a number of foreign buying orders for September in thes market, with all the futures bid up to new high levels. There was selling by the northwest as was by St. Louis, but Duluth advised signs of a foreign demand just springing up and there was enough In the news to start local shorts to covering. Liquida- tion was quite free but there were enough outside buying orders to absorb the of ferings with the closing strong all around. Sentiment continues bullish, but we would favor taking profits on stin advances, with view to making pur- chases on reactions.
 Corn-The weather was simply magni- hcent for the crop, the market was very dull, however, attention being largely diverted to wheat and there were hints that in some sections corn is not show ing up very well and it may result In scattered damage reports which we hope will not prove to be the case.
 Oats-Crop advices were conflicting, those from the northwest being better than from other sections but the trade was light, with the crowd inclined to be bearish. We would favor purchases of this cereal on dips.
 Provisions-Hogs were under estimates and higher, average weight 224, previous week 226, last year 2S3 pounds. Opera tions were largely sealping with prices moving up early in sympathy with hogs, and on buying thought to be for Ar mour and Cudahy. Some investment buy ing of pork and ribs was also noticeable. but 1t looks like a dull market, with strike matters unsettled, and no telling when full operations at the yards will be resumed.
 Stocks-The stock market today after an early irregularity and a higher open ing under London leadership commenced to advance again under the speciality ma nipulation that is conducive to stability enabling satisfactory profit-taking else where without breaking the market. and at the same time maintaining the bullisn- ness necessary to induce outsiders that are in the market to remain.
 | The best plan of operation Is to select | the stocks that have not had big ad- vances for they are more likely to be taken up suddenly and bid higher.
 We think this speciality manipulation to be the dictation of banking interests which are committed to the optimistic side of both stocks and bonds for a large pull. Total sales. 716592.