The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1906-09-08

rView of the Grain Market by Thomas j.
Myers. broker. Topeka Kan.I


WHEAT-Co Contradictions in the wheat
trade were never more numerous. start
ling or puzzling. A Chicago correspondent
saws: Exporters for sixty days nave
claimed there is no demand and d. july aho
August clearances were 25,o00,000 bushels
against $780, o0 last year, 14250,000 IN 1913
and since September ] promise to exceed
all records this month. The world ex-
ports for July and August were 14UOOOOO
against 81, 500 900 in 1905 and 7I,O00,O0O IN
1904 Russia exported each of the past two
years from to 10 million more thaH
America. Our clearances in July and Au-
gust were 10 million more than theta The
Danube clearances were mllhons less'
India and Australia bout the SINE Argen-
tine shipments We're but L million against
20 million year ago. CaDles say tnen
acreage will be very small the coming
season The price oi~vneat in Europe ana
America is now around the lowest point
in four years. The amount af1oat and IN
Europe is at a low. average Our crop Is
The Hungarian Minister says: Ihe
), 1s4. 900 600 in 1905 ana says exporting coun-
tries will hive 554, 100000 to spare and i'm
porting countries will require 5zo,909Ocv
bushels. That Germany, france. SPAN
and Portugal will want hundred million
bushels more than in 1905 which about
equals Americas surplus The Liverpool
Corn Trade News says August 70: IL
looks as if the quantity required this sea
son by consuming countries would not be
met without some dlf1lcuity no shae t ne
quantity avilable for them would not be
large. The Russian quality IS very BAD
and trading diIlcult- Roum ania move
ment liberal and crop very poor lnola
reports rice crop small.
{ recall but few seasons when wheat
statistics were more bullsh and pit trad
The low average price in the six leading
markets September were practically
prices on the 1906 crop were recorded
During these IS days it may pc safe 70
say there never were more bearish tactics
and theories peddled to break the price
PIT traders say: Never mind the wheat
that IS in the cemetery-it was grown TO
sen and the farmer must sell It. If he
won't We will Facts have been more
effecfivein creating an advance After
months low range recording a 15c decline
mary receipts keep only about = 5 large
as last yer. And while the visible supply
keeps decreasing as fast as RECORDED anu
export clearances continue near the iafg-
EST on record I prefer watching Tor
place to buy wheat.
CORN-A splendid corn crop now near
ing maturity is having a telling effect on
prices The crop now promises to exceed
that of 1908. which the government says says
was 270s.09o 900. Quality IS also SAID VIII
be superior to last years crop believe
new YORK STOCKS-speculati in
stocks continues active In the race OF
tight money in Wall Street stocks are wen
held The under tone of the marEet IS
strong and the tendency seems 70 Pc
disfinctlv upward There IS talk Of in
creased dividends on some OF the faNorite
issues The. early possibilities OF Inc5easse
dividends favor Atchison. Pennsylvania
and AnaIaeau1ated Copper. These stocks
/ look attractive on resessionE and the spec
ulator with patience ought to make
New York stocks.
wall St. New York. Sept S--SIOCkS-
Onening prices of stocks today were in
elfned to droop in spite of higher prices
~ Americans in London, the prevailing
/ tendency was revived BY only few srla u
qains Trading was generally dull, Dut
I & m shares Of United States Steel chang
/ 81 hands at last nights price and C00
/ shares Of Union Pacific sold at 1914 and