The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-04-01
The Corn Market Was Stagnant
and the Dealings Narrow
and Spiritless.
NO CHANGE IN COTTON !
Trading Has Been Light Favor
able News for. the Atlantic. and
Gulf States.

dDlc NEWS Oi.itIIc 3AlldliliSs dilu sSE
Gulf States.
NEW YORK, March 31.-During the
5 first half of the week domestic wheat
markets were extremely dull and mar
row. Trading was of a-small scalping
character, and the variations were
small In spite the nnrrowncss, fluc-s
tuations were numerous and spas
modic, due to tho contradictory crop
news from the West. None OF these
factors, however, were of sufficient in
tucnce to swing the market TO any i'm
portant extent either way. Tho un-
certainty created by the varied and
conflicting advices from winter wheat
territory had a tendency to cause trad
era to be curious. Reports that Inn
portant damage had been raused by
tho long spell OF high Temperature and
drought would be almost Immediately
followed by advicns of exactly opposite
tenor. News concerning the appearance
and activity of green bugs was also
u source of much pcrlexity, vigorous
denials following statements that the
greater part OF the crop in some of
the southwestern States was threat
& ened with utter annihilation. There
was ample reason, therefore, for re-
gular room traders to stay out of the
market temporarily. or until something
more definite was ascertaincd as to
the actual state Of affairs in the win
ter wheat belt.
AT the beginning there was a slight
sagging tendency, ascribabIe largely
TO the fact that the worlds exports
exceeded general expectations and
caused n big increase In the quantity
on passage. In spite ofthis. European
markets were remarkably firm. due
mainly to further and more definite
reports as to the damage by winter
killing in Germany, and also to the
poorer prospect in Spain and portu-
gal. because of the protractcd drought
there.
( Adyiccs from Russia noted impor-
;ant decreases in winter wheat area
aud also alluded to the fact that stocks
at the scaboard were dlmfnishinz,
while receipts from tho Interior were
extremely meagrc. These reports led
TO predictions that the time is rot far
distant when importers in the west os
Europe Will be force, TO depeld upon
TIE United States for very appre-
ciabic proportion of her requirements
HE slight advance caused by thea,.
factors proved only temporary. ard
@ere soon ncutralized by advices from
The West that tho temperature there
had fallen. and that there was soo,:
precipitation in the vicinity of the
Ohio Valley. Reports that seeding of
.pIing wheat had already been started
IN parts OF South Dakota and Mirne-
sofa this being considered soncw hal
early after such q long and severe
winter. also had a beneficial effect.
Late in the week trading was hin
dercd somewhat by the holiday inter
scntion, and moreover. was restrirtt,l
by the scarcity of influential market
news. Variations We're slow and I'M
Important. although a weaker trci'd
was noticeable. which was attributed
IL reports of more hopeful outlpok
In winter wheat territory, where the
slant appears to have been benefited
by rains aud cooler weather. moe l.ar-
ticularly in the Ohio Valley. 1t was.
however. cloudy practically all oscr
the winter wheat belt. with pradic-
lions of rains in the Southwest an
uppreciable break. however. vas pre-
vented by stronger advices from Ruda-
rest where prices advanced sha.piy,
owing TO the uprising in Roumon!ai
which vii, probably delay exports.
Corn.
The corn market was stagnant. deal
ings having been spiritless. and f.c-
uucntly slow and narrow. The markess
4 as experienced a gradual saSgins ten
lency, mainly as q result of weaker
nGvices from the West. where supplies
have shown a moderate increase, whiic
the weather has been favorable. Or
fcrings OF cash corn for prompt de:'v-
cry and to arrive soon were larger
+, and at lower prices. but without stiniu-
lating the demand materially.
M Dull in Cotton.
This has been a dull and rather un-
cventful week in the cotton market.
There was considerable weakness at
the opening, when the stocf market
was so demoralized, and prices slump
ed on further scattered local and
Southern selling to a level of about 10
points from last Saturdays closing
quotations.. Strong efforts were MAIDS
by some spectators for the decline to
force tho May option then through
$50 and July below 9.40, and it was
supposed that stop-loss orders by weak
speculative holders would be met at
about that level. This however. proved
erroneous. and when the stock market
righted itself on Wednesday,, the bull
interests were induced to resume their
support OF the market. Prices rallied
so we'll on Wednesday and Thursday
that all 1.-THE loss Of the early part Of
the week was recovered. Therefore,
s the market closed Thursday night for
Good Friday and easter holidays with
prices practically unchanged from last
Saturday.
Decreased Trading.
Trading has been light and Of pro-
fessionnl character throughout the |
week It has been the smallest week
n for long time. Outsiders still show
little interest in the market. and SEN
#timent is so:&mlSed on the Immediate
future course. of prices thnt local
operators have been combining their
trading to merely scalping operations.
Commission houses arc mostly inclined
4 to lilo n moderately bullish position
%On sthe8continued strength OF the spot
situation, and the gradually decrcas-
\ ing receiptsi in connection With tho
improving tendency Of the money mar
aket.
As vet few see G enough IN the market
H'SNIEl0vE| E7! i