The Montgomery advertiser., 1904-11-03


 CHICAGO. Nov. 2.-Conflicting state ments as to the condition of growing wheat crop had a counterbalancing effect or prices today, sharp rally being followed by almost equally precipitate decline At the close wheat quotations were prac- tically identical with yesterdays final fig ures. Corn is off Ac. Oats unchanged and provisions are 5q2oc higher.
 Measuring advices regarding Anglo Rus sian affairs and lower prices in foreign grain markets were the main cause of con siderable selling of wheat here when trad ing began. Opening quotations on both the December and May deliveries showed losses the former being off BqNc at 1.l11s to 1.11Bs. May was down % dhc to %WAc at l.11A 41.11b. Bearish sentiment, how ever. survived only brief period. News from the Southwest was extremely bullish. numerous reports of damage by Hessian flies and drouth being received from various sec tions of the winter wheat belt. Some of the messages from Kansas were radical, de- claring that the condition of the growing crop is the forst ever experienced in that region In addition to the poor showing claimed for the new crop, the movement of wheat from the farms continued to dimin- ish in volume. Arrivals from the North west today were considerably less than last year, while the total primary receipts were about 25 per cent smaller than those of the corresponding day a year ago. From the start shorts were active buyers. The de- cline with which trading commenced was soon overcome and the advance that fol- lowed did not halt until the price of De- cember had reached 1. IS 1a, over a cent though the price advanced to l.12%. Sem above where 1t stopped the previous after noon. May somewhat less elastic, al- timent in the pit then suddenly shifted to the bear side. During the latter part of the session trading showed less animation and the market lost almost all of the early advance. The cause of the change in sen timent was a report of local crop sta- ttstician stating that the condition of winter wheat in Ohio. Indiana, Illinois, Missouri, anu Kansas was not bad as a year ago. The market closed barely steady with be cember at l.12h. Final figures on May were at Ill 1s @l.l2. Clearances of wheat and flour were equal to 39.OOO bushels. Pri mary receipts were sS1.0O0 bushels, com pared with o3S,000 year ago.
 An easier tone manifested fin the corn market as Il result Of moderate selling by pit traders, Lower cables and q com hinat.on of excellent weather conditions were largely responsible for the offerings Trading was mostly local An illustration of the qUictness of outside demand was furnished by todays shipments, which were only onc-flfth those of the corresponding day last year. December opened shade to 1& C 9sc lower at 4Sa 94S9s, sold up to IS A and closed at 4Sss a4S1a Local receipts 6l cars. none contract grade
 A feature of the trading In the oats mar ket Was large purchases of July by a prom inent packing house interest. The marke: held steady throughout the entire session. Shorts were good buyers. December opened k q Ac lower at 2Siz 92S%, sold up to 2SH e 29 and closed at -S 54. Local receipts, o4 cars.
 Provisions were strong from start to fin