The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-02-04
LUith the Grain Brokers;
Present Market Conditions

Rqssss which trade largely for h% b BaT ,ssy
Ila1i,i, SttilIhs; ana otheIs, ou' nv
were buyers again on the reaction OF lc
Bradstreet's reported a decrease Of 10000
bushels in stocks OF wheat Of the Rockies
for the week and decrease OF 100000 bushels
ahoat and abroad, a total decrease Of 2,507,OeO
BUSHES. compared with an increase of 2.nS0Oo
principal decreases were; Manitoba. $780, bush
els Northwestern interior elevators, 200 900 bush
5000 bushels: the principal Increase. Chicago
private elevators. 1885, 600 bushels. Corn stocks
increase Of Ll75.OoO bushels last year. Oats
increased $4,000 bushels. compared with an in
crease Of $4,000 bushels year ago.
The grain men at Chicago evidently have the
suspicion that their market is TO have some
such experience this year the cotton has been
having. The sympathetic effect Of the wild
speculative experience In cotton on the grain
mans mood has been very apparent Of late.
There has been broadening interest in the
corn. oats and provisions with steadily advanc-
ing prices. The outside buyer has been the fac
tor in both corn and provisions and there is
large outside contingent also following Patten
in his bull operations in oats. There has been
advance enough in everything be quite in
spiration to the outside specuIator, who has
acted upon the suggestion that Western prod
ucts were TO have their inning along with the
Southerner's cotton. Corn is up 10c
from the low point and oats are up lie. Com
mission people who have wires through the
South say that IL is amazing how much money
has been made cotton operations by the
speculative class down there. But the South
erner Is now satisfied with his cotton profit,
and with all his money is looking for other
chances. The operations in the provision pit at
Chicago through the concerns whose wires run
through the cotton country. have been almost
entirely for the account of the Southern specu-
lator. He is asking his commission man
what he can buy, and is taking his chances in
the coarse grains, as well as the provision mar
ket. IL is possibly not true that there has been
any great general Increase in outside specula-
tiOn but IL certainly is true that those con-
who have made Southern connections
through their cotton business feeling
enormous Increase in their commission trade
One private wire house yesterday sent about
500 orders its Board OF Trade telephones
This house has been leader in the recent bull
movement In produce, but other houses with
Southern connections are sharing this same
business
The governments crop report on winter wheat
conditions for January stated that the growing
grain a considerable portion of the winter
wheat belt was suffering from lack OF snow
protection. There is no doubt that very
serious state of affairs does exist at this time
in southern California and the region adjacent,
in the extreme southwestern part of the country,
regards drought. There has been so far in
the rainy season in that territory only about
one-tentH OF the usual rainfall. The destruc-
great, and ii relief does not come between now
and the end OF the rainy season, that Is, on
April 1, the accustomed aids TO the productivity
of tho soil during the summer from irrigation
will not be possible, and the prospect for the
usual crops will be exceedingly poor.