The Marion daily mirror. (Marion, Ohio) 1892-1912, 1907-11-08
Carr's Trade | Letter

Weekly review of Grain Trade
Conditions which are shaping pric-
es prepared expressly for The
Mirror by II. H. Carr g.. Com
pany, Commission. Merchants, 06
Board OF Trade. Chicago. ILL.,,
who possess unexcelled facilities
for executing orders for future
delivery.
| 1t will take long time for the
grain trade and the public to
get over the effects of tight mon
ey and the banking panic which
almost overlook the whole coun-
try last week. BY sheer force OF
their millions the money kings of
New York have quieted the situa-
tion and brought about partial
restoration of confidence. Each
day however adds to the belief that
the results of the banking scare
and the tight money which is now
felt in all quarters of the country
will be far reaching and lasting.
Grain raisers of the west have
practically quit selling. They are
dissatisfied because of receiving
bankers paper instead of currency
for their grain. The big mills at
Minneapolis have closed down be-
cause they cannot afford to pay
cash for wheat and take promises
in exchange for flour. Every ef-
fort has been made to move out a
large part of the wheat from
Chicago elevators but stocks are
still enormous and it is doubtful
If the elevator people will care to
continue financing so much prop
erty in such ticklish times. Late
cables indicate that many foreign
ers are already over bought on this
side. The last few days have
brought remarkable advises from
Argentine where 1t is claimed
wheat production Is greatly in ex-
cess OF anything before recorded
There are claims that the South
American country will have 300.
100000 bu. to export. The present
week has witnessed sharp drive
at prices of hogs and all hoe
products due 1t Is said to difficult'
among the packers in supplying
ready money to pay for livestock
and carry the manufactured prod
uct Small failures continue here
and there throughout the east
and laborers are being discharg
ed by thousands from many of the
big corporations. Believe the situ
alton warrants lower, prices fol
wheat and the decline has alread!
set in. A word to the wise is suf
fcient. There Is not reader o.
these letters who has considered
our arguments on discretionary or
ders who will not see that we are
in a position to execute large
, number of them in way thai
leaves little chance of risk almost
. certain profits when the orders
are exesuted at the opportune mo-
ment. 1c a bu profit on 1,000,00(
bushels equals $4,000. 1t only re
quires 200 orders of 5000 bu. OF
100 orders of 10000 bu. or 10 or
ders of 100000 bu. each to make
a million. Cne cent bushel or
million bushels profit weekly
(which should not be improbable
when under one management
would aggregate $4,000 at the
end of SO weeks If each weeks
transaction turned out successful
There was a break of &c In the
market today on the reports thai
south west points had not the mon
ey to care for the early move
ment from Kansas points. We thin
the. money situation will have less
influence in corn than in wheat ir
the Chicago trade. Receipts have
dropped off to little more thar
20 cars a day. Stocks are fur
ther reduced The Washington
crop figures will be made public
on Friday. Before that date we
look for the local trade to b'
oversold If the financial condi
tions are no worse and the ofiicia
report confirms the very pool
husking returns coming from many
sections think the clear headeo
trader will find corn at pom
where 1t can be bought for De
cided rebound.
The way things are going JUS
at present believe the May oat'
price will soon be back around tH'
5Oc mark and under that iflgunrrt
the bull leaders are likely TO gWe
the market another quick ppturr
like that of week ago.