The Montgomery advertiser., 1904-05-28

' tenfion was centered principally wealth | CT conditions in the eastern belt, which fur | nished no positive basis for action either | way, there being numerous predictions of ! rain against no actual precipitation where
 mostly needed. Thus the new crop months ! were steadier than would ordinarily have | been the case. and summer deliveries were l swayed by guesses as to what the manipula- tors might do. but in reality the disposition | to let summer months alone is growing more conspicuous daily and 1t should be so as the danger Is too great
 As to the general situation it looks as if a short crop has encountered period of bad trade and difficulty is consequently ex- perienced in sustaining high prices The weekly statistics show further material reduction in the spinners takings of Amert- can cotton. thus making it appear as If suf- ficient cotton would be available to supply the requirements of the season The new crops will continue to be guided by wealth. CT changes. but in the absence of serious
 mishap. it would seem to be the best policy to sell winter months on any strong periods. NEW ORLEANS COTTON.
 NEW ORLEANS, May 27.-Spot cotton in light demand. offerings scant. Sales. l.
 $50 bales. including 1,150 to arrive. Quo
 tations revised. All grades below middling Futures opened quiet and from points
 higher to 15 points lower. At the outset there was some disposition to hammer July
 and to follow the downward trend of New
 York. At the lower levels offerings were
 freely taken up This sent prices well above
 yesterdays close after initial recession
 below In the trading July first lost $
 points at 12.S7. recovered to .99 and
 finally declined to 12.92. The market
 closed steady net points lower to higher.
 CHICAGO GRAIN AND PROVISIONS.
 CHICAGO, May 27.---A sudden scramble by shorts sent the price of May wheat up 2Ac just at the close today. The squirt in May strengthened up dropping general market in wheat and July closed Mc over yesterdays finals. Corn shows a gain of
 &c. oats off trifle and provisions prac- tically unchanged
 CT and generally encouraging conditions for growing crops everywhere. the wheat mar ket opened easier with July b mhc down at the trading and had tendency to depress prices The fact that the majority of ex- changes throughout the country will be closed tomorrow and Monday greatly re- stricted the volume of business. The ab- sence of contract wheat here the basis of speculative transactions caused the aban- donment of trading in July except In the way of evening up outstanding contracts, the September delivery attracting consider able attention. A St. Louis trade Journal registered a belief in the continued inn appeared indifferent. Cash wheat at Min neapolis was weak and a report from there stated that all flour mills would shut down for few days. During the last half hour May became quite active. Deferred futures benefited thereby, the market be- coming firm. After selling off to S5H July rallied to SbB, closing at the top. May ranged between 96h and 9Sh and closed at the high point. Clearances equaled 5SSsO0 bushels. Exports of wheat and flour for the week.. according to Brad streets. equaled 1.132.b0o bushels. Pri- mary receipts were 260.600 bushels com pared with 254,500 a year ago. Minne- apolis, Duluth and Chicago reported 12s cars. against 91 last week and 13s a year ago.
 Sentiment in the corn market was bear ish, due to liberal receipts A private corn report showing excellent condition and an increased acreage favored the bears. There was general selling throughout the day Late in the session covering by shorts fair recovery made. July opened k@Ac lower at 47 % GAS. sold down to 47A and closed at 47%. Receipts, 366 cars 40 contract grade
 Oats were quiet but moved nervously over narrow range. After opening unchanged to kc lower at 3S% to 3sB, July ranged between Ss% and 3sM and closed at S8A O 5SK. Receipts. IT cars.
 Provisions were strong early in sympathy with higher hogs. but the market became easier on profit taking. July pork closed 2hc lower at II. .32h; July lard unchanged at 6. 50 and ribs off 2kc at G.55.
 Estimated receipts for tomorrow: Wheat 10 cars; corn. 61S; oats. 149; hogs. 12.OOO head.