The Birmingham age-herald., 1904-06-23

quite a sharp reaction and the endeavors of shorts to cover was made more difa- cult by the bidding of bulls, the effort later bore the appearance of exhaustion, though the expectations were in part maintained to the close. A certain amount-of sensitiveness is apparent In the American markets, doubtless due to the short interest and at most any infiu- ence of even minor note is sufficient to cause reactions covering or induce fresh selling and Impressions, and while the range of these variations Is not very great they will in all probability increase as more critical periods of the crop devel- opnent are reached. Rains and cloudy weather throughout the boil weeyil sec tion of Texas are conducive to the prop aeation of the insect, of which we will unouestionably hear more at later date. His energy and activ1y, prompt appear ance in the fields and preparedness for business, are not eonsoling signs. At the same time assurances are given of good 1-exas crop wit.. or without his presence c,ron reports in the .aain continue of a satisfactory character, although in some Few loealtties rain has not fallen recently in sufficient quantities. Conservatism vvo,ild suggest hesitancy In induiging fin large commitments on either sids pendIng the receipt of the monthls ou, reau report, when better opiiiion VI conditions can be formed
 wrheat-There was disposition shown h,, tha traders to take on old July carry receinfs here being light, with the prus, sian official report considered bullish anu the helief prevailed that the market was oversold There was good comtnlssioH house buying of that month. also sep tember meeting heavy sales with the iat- ter month, however, from the northwest The market was nervous within mar row range, the cash business here agaill calling attention to the small contract stocks that made the short interest de- cidedlv 1,neasy. The seaboard reported Il car lods for export and with lnolca'loiis of an improving cash demand here, It is possible that higher prices may be wit messed In the futures
 Corn-There were charters here late yes terday for 100000 bushels to Buffalo at "A cents, the lowest freight for the season with sales of 5000 today and possibly more Export six car loads. The market displayed a fair amount of strength July being in good respect with show Tor IL again crossing September and while re- ceipts here were light Iowa acceptances were said to be quite liberal. Exporters were out of the market but we think the low lake freigbts will soon attract good eastern demand.
 Oats-Futures displayed flrmness with good buying of September, recepts being light while the Prussian report show ing a condition of 72, was considered bull ish Local sentiment veers toward higher prices.
 Provisions-There were enough hogs on the market to allow of lower prices, giv- ing encouragement to the pit bears who sold quite freely while there was scat tered selling by commission houses Sup port was lacking and with, 3l,000 hogs to- morrow further declines may be met with, but we look for a good class of buying to appear especially in ribs.
 Stocks-Reviewing the stock market to- day, there is little comment to be made further than to say that 1t was strong in undertone with speculation at low ebb but with investment demand un- abated. This latter feature is one that tels-but not at once. The listlessness Is very tiresome to those who watch the fluctuations from hour to hour but 1t is evident that the stock market has been well liquidated and that any favorable event of importance would start a large short covering movement. Total sales 1S9, 300.