The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-07-08
Market Fcvcrish and Excited
and fluctuations Are
spasmodic.
BUT FEW CHANGES IN CORN
Gables Unfavorable,
Being Influenced by
Weather.

r
ing orders, while much of the time
sellers were scarce and showing timid-
lty. Consequently prices advanced with
rapidity, accompanied by much excite
nlcnt. 1t was, therefore. small wonder
that variations were numerous, spas
,nodic and often violent, On more
than one occasion. prices jumped up
$one-half to onc-cent a bushel In n few
seconds, much to the astonishment OF
sellers for the decline, WHO speedily
became somewhat demoralzed In
some ways the trend Of the market
was n source Of gratificatlon to the
conservative element owing chiefly to
the fact that the greater animation
and strength was chargeable much of
the time to fairly spirited buying of
both cash wheat and futures on for
cign orders.
European Cables Unfnvorable.
AS a rule, cable advices were Of an
encouraging tenor, European markets
being Influenced to marked degree by
bad weather and crop prospects in the
United Kingdom as well as on the
Continent. Until lately France was
about the only Important producing
country in Europe where fairly large
crop seemed almost assured. Recent
but no doubt tho weather has taken
a change for the worse, which appears
TO have caused uneasiness, as suggested
by the strong advancing tendency in
Paris. Furthermore, 1T la declared that
France will be compelled to import
with far greater freedom. which view
was In way confirmed by reports
that French importers had bougl1t
cash wheat In United Kingdom markets
and also futures in New York Doubt
less. this buying was quickened In
part by additional reports of poor
prospects In Germany. Hungary, and
other parts OF Southern Europe
How the Worlds Crops stand.
In the main, definite Information has
been hard to obtain, and therefore es-
Inmates respecting the loss IN Europe
are conflicting and variable. Conser-
vatlye authorities In Europe figure that
the yield in Germany will be appro1i-
mateiy 100000 bushels short; Rou-
mania at least 50,o0o,oo0 Russia and
other countries uncertain. possibly
nlose to 100000 bushels making a
total shortage OF over 100000 600 bush
els; some mako It 25O,00pODOs to ESQ.,
100000 bushels. 1t is worthy OF note
at this juncturc that thus far France
has been left out OF these calcula-
tons. It. therefore, appears evident
that Western Europe must depend on
North America for larger quantities
of wheat, etc. during TINS cereal year
than in the year Just ended. The
buoyancy abroad early In the week
was partly attributed TO the light
worlds shipments ana the resultant
big decrease in the quantity on pas
sage This, coupled With a ntterial
reduction in our visible supply, led to
a heavy decrease IN the worlds avail
able supply. Temporarily, at the out
set, there was a tendency to lag. which
was particularly noticeable in the In
stance of July, in Chicago, as the de-
iiveries on contract then were remark
ably large, leading to a further widen
ing OF the premiums on the remote de-
liveries.
Had News from the Wcht.
Evidently the impression obtains
among the speculative element that
q tho distant deliveries are more valua-
BILE than the .nearby. This opinion Is
bused on the presumption that while
there is sufficient old wheat available
to meet early requirements tho short
age IN the worlds crop this season no
doubt begin to be felt as the winter
approa ches. In short Europe Will
probably consider 1t wise to consume
practically all the old reserves and pos
I sJbly an important percentage OF the
new crop before importing freely from
diptant countries.
Buying was also stimulated in do
nestle markets by further rumors OF
unsatisfactory threshing returns and
additional complaints respecting the
backwardness in the Northwest. where
ii Is claimed tho weather has not
been hot enough to make UP for the
late seeding.
However,, these factors were In par,
counterbalnnced by favorable official re.
ports from Ohio and Illinois. In the
latter State the condition was placed
at OF, against 50 In June, while the
Ohio condition was placed at 70, ngalns
II Juno 1st, and 95 q year ago, wher
the crop was 100000 bushels Other
advlces from various sources We're
somewhat better but still rather dis,
appointing, as important improve
rnents seemed in order after the ia
vorable weather prevailing over wide
area in the last half Of June.
Cause of Late Break.
Late In the week there was furthe,
advance, but there was q sharp breal
soon afterward. The advance wa.
uscriped chiefly to stronger cables
with additional reports Of crop dete
rioration, which led to large purchase
to arrive for export, principally o
Manitoba wheat. The subsequent de
cline was attributed to free selling 70
both accounts, stimulated largely b.
good weather West, and more salts
factory harvest returns, There wa
little dimlnuton in tho corn market
and somewhat slow and narrow fuc
tuations Occasionally, the trend wa
upward. owing partly to better cables
and to the rise In wheat These in
fluences, however, We're partly counter
balanced by the more favorable weathe
West. Exporters have received fai
orders for cash corn, but trade wa
restricted by the light supply available
and the strong claims OF holders
Lady Officers.
There are eight women colonies o