The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-10-16
THE WHEAT BULLS
WERE DOMINANT l !! mi
. -- - - AZ
a Long-Drawn-Out Bear Raid
Seems Very Remote and
Improbable.
RUSSIA STILL 81 THE I CURTAIN !. Y
Alviccs From That Country Are
Contradictory Italy is il
Distress.
RUSSIA. STILL The CURTAIN
.fspecIal 10 INC Times Dispntch)

y
CHICAGO, October 15.--'The Armour
clique OF bulls In wheat have had things
pretty we'll their own way the past week.
Indeed, they have been The dominant
SPIRITS for several weeks; but this Is BIO.
cause OF, rather than In spite OF, world
conditions Of supply and demand. /. A long
drawn out bear raid seems to be a very
remote and improbable contingency. 1t is
not to be expected that the professional
speculet oro will ever agree on tho pros
and cons OF the market II they did they
would be out Of Jobs. 1t is to be expected
that the legitimate trade will get together
liz it can, but It can't. @
Russia the Curtain.
Russia is still the curtain over the
situation. Advices from that country are
contradictory. Latest information Is that
the Volga district crops are q failure.
and that a famine is imminent. Ship
ments Of wheat are still going on In
Russia, but this movement Is Interpreted
as sacrificing Of the dearer food for
cheaper by people who need money badly.
The current effect Of these shipments Is
that other countries of Europe which
do not raise enough wheat for their own
use are meeting present requirements
without having to come to America. How
| long, this condition will continue Is the
important question.
Argentine. too, is still being watched
( for the generosity OF Its horn OF plenty.
Shipments from there are falling off, a
fact which gave added courage to the
! advocates OF high prices.
A ,tu ft.o1 la q nra,yt for n n n1 tho
| crop prospects there are reported bad
| by reputable authority.
Italy in Distress.
| cry OF distress last week came from
italy, where 1t was said, wheat, as well
as other crops. were poor and below the
average in yield. This country will need
wheat, along with France. Germany,
Great Britain and possibly Russia. Latest
,crop advices from the Argentine are that
|Ithe outlook IS now cellent.
There Is a continuation OF the good de-
! thand from mlllers for wheat and pre-
| mlums are well maintained. Big dellv-
cries at Minneapolis are expected for
| this week. Tho government crop report
for September did not make a great Inn
| preston one way or the other. the figures
. being about what q majority of the trade
| expected There Is still @ small element,
| however, which clings to the Idea that
estimates have been too liberal, md Will
come down wliers tho final figures are sub
mitted for record in the Off cial archives,
There Is careful watching Of the cror
THAT has been sown. Some serious COM
plants are made that conditions are I'M
favorable. but, on the whole the situa-
| ton as Il the progress of the plant and
the acreage foretokens big crop for
next year.
\ Greatest Corn Crop.
Tho government Agricultural Depart
| mcnt has gone on record with the OFF,
cial report that the corn crop Is bigger
! than any Of Its predecessors by III .00O. 900
| that being the amount 1t tops the YIELD
Of 1902. The total is placed at 2,64o, 900, OK
4 bushels. These figures arc based Of
| course. on percentages, but they are not
] likely to be far astray. as experlence
!, proves. In the seven surplus States the
Yield Is 23G 900, 900 bushels in excess Of
! that Of a year ago. In spite OF this bril-.
!, liant crop showing, prices do not sag
J Nor does the delivery Of new corn from
Illinois and other States have O ten.
i dency to cause any dropping
Whatever recession temporarily there
! may have been in prices was due almos.
entirely to speculative manipulation. The
Jones report OF 900 bushels is not
widely credited as correct, The Argentine
| supply for the week was inconseQuential
being $4,000 bushels, whereas q year ago
1 that country was supplying Europe with
1860, 900 bushels,
Sales Of oats abroad are on a scale
justifying the uso Of tho word "unprece-
denied" Hero Is the mainstny Of this
grain, as 1t has been for weeks. So long
as such demand continues there Is NO
danger Of q price slump.
\ s rIr5DADTc poVYDcr 1f