The Marion daily mirror. (Marion, Ohio) 1892-1912, 1907-11-01
Carr's Trade Letter

Weekly review of grain trade con-
ca pms whiIh are shaping prices
prepared expressly for the Mirror by
II. H. Carr Company, Commission
Merchants, SO Board OF Trade, Chi
cago Ill a., who possess unexcelled IA
cliities for executing orders for fu-
ture delivery, watch the correctness OF
the advises contained in this letter
and act on them
Chicago grain traders walked up to
new condition of things in bank
circles Monday morning of this week.
The associated banks of Chicago and
nearly all of her western centers
agreed to stand together and issue
clearing house certificates for use be-
tween banks and it was also agreed to
send as little money to the country
as possible for grain or other pro-
duce until the panicy conditions which
started with n. Y. banks and wall
street stocks would be at an end.
The result has been great security
to all western banking circles against
any run of depositors and will in the
end prove a very wise step in has
tening a return of general confidence.
At the end of the third day of the
new system confidence is largely re-
stored. declines in all markets are
checked and very strong recovery
was noted today In the entire grain
list. cash and futures. Wheat prices
he axvn
buyers. Foreigners have come after
our wheat on the decline. Shipping
sales of 700, 900 bushels of wheat from
Chicago houses were made in one day
followed by similar sales of 100000
bushels today. Banks and exporters
re using every effort to start flow
of gold from London to this side in
exchange for our grain. We believe
wheat prices are at level where both
the investor and speculator can take
hold and have very little time to wait
for good profits on q strong advance.
We wish to emphasize what we have
said before about discretionary orders.
We have heard from a number this
week who like the idea, preferring to
depend on our judgment rather than
their own for the filling OF orders at
the best possible moment in the open
market. Only two hundred orders of
$4,000 eaech or one thousand of 5000
bushels each would mean 5000, 900
bushel. Even one fifth of this amount
factors in the market Having such
an aggregate of such orders to exc
cute at an opportune time would in
sure uprofit to all Recent action of
the market has greatly increased the
chances of filing such orders to ad-
vantage and thousands or readers of
these letters can easily do what a
small number have already begun to
do this week.
Country shippers and corn rasers
Of this and other states very wisely
decided to curtail schipments until
the banking arrangements were more
to their liking. The east appeared
came after a good supply of corn to-
day Cash prices We're up &c to Sc
and futures had &c recovery. There
is wet weather over the corn ship
ping states, Lighter receipts are al
most certain. Around 56c for De-
cember and 5Sc for May believe buy
ers can make no mistake in taking
hold of corn.
1t developed today that the bull
leadership in oats is nor dead I.o-
cal sellers who broke the market 2 1-2
cents in the beginning were pun
ished by an advance of sc later in
the session, Keep in mind the short
crop and buy a little of oats If YOU
have the chnce under soc for May.
Ia CARR t