The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-07-09
BEAR NEWS
GRAl |. \ J. ! w \
Prospect ii Enormous Wheat
Yield and Pressure Of New
Crop Caused Slump.
.BLAck RUS SCARE L! ( AGAIN 4 q !! N
Estimated II, M; Many Quarters,
However, That Yield Will X. S Il
Z \. BE Record Breaker.

Ss$ Be Record Breaker. ss
u, (spcclal ID Tho Tincs- Dispatch @
cH1cAG D. July rhngs are happen
ling In the wheat ma kcts because there her
is n lot Of wheat. stated II, It's simplest est
form, that IL situation which s Sl,rin n,
Ing the price down gradually toward tho.
e point where business can be done VIII
other nat ions Within a. fortnight rot n
ly speaking, the price has dropped nearly 1t
4 five cents fuyhcl, and the near mon tbs
' are now below tho eighty cent mark TX.
Corn and oats have suffered. but not
q nearly to the same extent tbs effect Of
II the new crop OF corn being more remote
and that OF the ileP, ont y CROP being
4 smaller. becntlse the crop does; not 81 ON
IN SO well in compar ison VI tn ~ heut. VII
/ MA dcluge Of crop reports may be exc
pccted the next few " eeks, q whole troupl
Il Of independent Investigators having in-
yadcd the spring wheat fields to .lscoser
what the situation there reall 5ia. I'd Mean;
h time, there nre amateur estlma tes that
the total yield this year will be close 70.
X $50, Coo, go bushels. which would put II tho
4 record up to n new not oh. Il IN
Bearish News. ..s
Most OF Z the Information, official a nd
II unofficial. during the week XII wa n OF a
bearIsh character and !. wi tn the pressure
a OF new, wheat on tho ina rset centcrs ~
Y Ia a wondcr8thnt there was not moro OF e
I, slunp s. in values everywhere q dricesA
q from abroad were OF tho same general.
& ratnre--lots Of wheat I'm eight: There
was one attempt d n sea re In the NORTH Z
i W,cst when It was report ed that re wal
\ black rust In TINT reg lon L and dangc ~ o.
4 a spread OF the damaging blight. NVatcfht-
Y fiji eyes will be kept on 4 tho pro gress OF
retro9rcssIon Of the spring wheat and ~ q
real widespread q inyh sion O. phck
i would mean a great dcal In the market
/ whicf, is In an attitude 10 respond readi-
$sly to adverse enlightenment on condition
in#the Northw est. 545$
Compared with year prior to 1905 the
RI fnoycnient of new wheat & Is not Ia rge.,
but with the reserves OF I he former crop
y 10 deal with. the movement has n q marked
effect. Indeed II was the main influence
q Of III q week all others being Bsubsidiar
l.s IN rmers over the West. being pretty
we'll fortified Il financial -. 4. are not likely
Ia make big sacrifices, and II ~ not
81 ekef much further depression 4ot prices
III To bring d sudden halt to sales % (. new
Il whea I. & Az II Is. the price has permitted
considerable business for Sex port, Kan
Z sas C Ity report EXPORT sales of ~ esrS
4 bcat-Ionds, and Duluth OF Rtxteen ADS
E OF Manitoba wheat t. 4; sss n :s@
. 55ss Seasons Imports.
II The London s list says It Is not un-
4 likely that total Imports for this season,
Il viii aggregate five hundred million bush
n els, and that mex senson's rec ulremcnts
" VIII be nearly as large. 4i5 y hose who hold
II This view ara taking a keen Interest In
"a IN
rs country. Is Liverpool shows some infe-
pcndence OF the bearish news in the
states, this attitude being explained par
q TALLY by the fact that Russia has taken
# cognizance OF 4fanlnes 4 In ports OF the
Cars I'D oman. with a probable conse-
\ ouence OF decreased supplies for the out
K side ma lions. }is hi n III "
Intest adviccs from Hungary DO not
Il have the color OF that from Russia. The
Il crop report makes out q proba BILE total
yield OF Use, 10000 bushels as compared
With 1854 900, 900 bushels a year ago The
u avcraS so crops OF that country for q NUM-
ber OF years has been 150. COO 600 bushels.
N There was n decrease 3of stocks at DUE
Is iii 81 and Minnca polls but the -four bust
4 ness is 4 not off, 4 volume to I attract fa-s
4 yorable attention. There. has been some
\ ideal wen Their OF late IN both the winter
4 and spring vile It country--in the former
for thrcshIng and getting gratn ready
a for market, and In tho latter for puts
u tng the wheat forward under fa Die
4 condit tons. 8jsE X VIZ NJ IN NJ 3.s y
Other Crops. .
Corn does not have to contend with
4 q pressure OF grain on the market hence
81 It's Losses for the week were largely
/ sympathetic. There was some increase
S in stocks,S but these In all posi- tons are
q onIy o,4oo, eco bushels In excess Of Inst
~ ,nv,iss ito
tai yield OF 400 900, 900 bushel IN 1903.
j these figures nre most .sg nlhcnnt ots the
growing demand for this cereal. There
have baen four Immense crops no W ING
tho grain keeps we'll. cleared up 1ro year
q 70 Year. II THIS YEA we have d the rec
rs alcohol lawEto figure on in addition 70 the
usual channels Of consurnptio on. ~ 81 a &
The weather Is q bit too cool tor the
season. but corn Is not suffering.
81 large percentage OF the crop has been
.IaId fby,,. for the season and nature Will
b allowed: to do the rest.
Atfthe Hay Dealers' convention at Put
Ii In I3ay I'll was estimated by many Of the 4
as,e@ates that}the crop this year Will
haf nbout rs per cent OF a ten-yenr f aver.
i aaa,and 6 Per cent,sof last years pro-
nnct,on. This means a wider use for
+, oats as animal food, u The crop outlook
II Tor GA Is has improved and N Q few weeks
the tale will be- told 70 Vi q cer.al|,ty,ss
Stocks are leht eveEy nv. ~ ~
. Slipping demand lis poor. = 2 !, 1lle u lace
YIN big and steady decline IN wheat,
n oats. show good staying qualities, Pre-
va iH p,scea are considered low enough
Il when one takes 4nto account the PIopa-
hility Of a decreased yield n 4 compared 90
q with the 1905 produc upn. Z, 4, y,
Top prices OF hogs are stl.l noyerln ,I
y around II. AT Important points stoG aas
OF product have Increased largely, ae,i
spite big shipments, n Total packing 70
date shows an increase OF NC, 10Y over last % &
year. iiSss1ll n q
Run in; on Flats,
5;... H(specinl to The Tlmes-p lspatah.)
NORFOLK, Var July s--TLeaking SO
heavily that she had TO be run on me
flats to keep her from sink Ing, the three-