The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-04-08
News from Abroad Says Worlds
Visible Supply Of Wheat
Is Small.
DAMAGE CRY r, IS HEARD
Cotton Crop This Year Will Be
Enormous from Present
Indications.

NEW YORK, April 7.--Most OF the
time carly in last weeks domestic
wheat markets were inactive and mar
now. Most all traders were moving
cautiously, as a result Of the conflict
Ing crop reports. There was SO much
doubt as to the harm done in the
Southwest by the protracted droutli
and the green bug as to create great
confusion. Subsequently, however,
sellers for the decline showed nervous
ness and anxiety to cover, particular
~ the remote deliveries. Therefore,
July and September were conspicuous
~ strong, compared with May, which
was not strange In view Of all the
talk lately as to crop deterioration. AS
a result, the July premium widened
to ss@A cent, against " cent pre-
viously.
Uncertain News from Abroad.
AT the beginning demand was slim
fulated partly by the comparatively
small worlds exports and the unex-
Rpected decrease in the visible supply.
Gable advices were OF stimulating
tenor, particularly from Budapesth,
where there wrs a sharp rise, which
was probably due largely to the threat
tening aspect of political affairs in
Roumania. which will. 1t is thought,
delay the movement OF grain. Hereto
fore, many conservative traders were
skeptical regarding crop damage re-
ports, butrecently there has been a de-
cidcd change In this respect, and espe-
( cially since the issuance of the Ohio
State report, which placed the condition
at 81 per cent, againstt101 a year ago.
and 90 at harvest, when the crop was
$4,000. 900 bushels.
This report also showed an apprecia-
BILE reduction In farmers holdings,
which were placed at $500, 900 bushels,
against 100000 a year ago, while the
government March estimate was TO-
OOO, 900 bushels. Monetary firmness
was also created by reports from the
Northwest that there would probably
be large reduction in the area sown
to spring wheat, consequent upon the
much bigger area to be sown to barley
and to Durum wheat The increase in
tho Durunl area is estimated at to 90
per cent. The buoyancy In European
markets was partly attributed to less
favorable prospects In Hungary and
also in Russia, where the area sown
to winter wheat is estimated at only
10 per cent. Of last year. At mid
week there was decided pause. De-
mand to cover showed falling OF,
while holders for the rise We're SHOW
ing an inclination to realize, put these
conditions soon disappeared.
Prices and Crop Damage News.
Late in the week the market again
became strong, prices rising somewhat
sharply as offerings were lnslgnlll-
cant, while demand was brisk, stimu-
lated principally By further ana more
emphatic reports OF crop damas sc. mere
were many reports received from Az, au
1 not rrra
becn wrought by the green bug. and,
furthermore. 1t was asserted that the
nrotracted drouth had caused material
deterioration. While it is reasonable
- snnpose that in many instances inc
crop damage has been eXaggeratcd,5s SUI!
there lis sufficient evidence at haho
10 chow that important deterioration
has occurred 1t would cause no sur
nr,se II 1t should turn out that a lnuch
larger area has to be abandoned inns
spring than year ago. n VIEW y
these facts, and also taxing mo mo cor
sideration the spirit Of revolt prevail
ing in Russia and southeastern ~
rono N would seem reasonable to sup
| NJ .t,+ NO would have little diff
a,,1t,, IN disposing Of our surplus OF
prime wheat.
Corn Market Quiet,
Speculative operations IN corn w VII,
Quiet rs a rule. and often l11e s5vers Nv ~.
Fluctuations We're lncohsea s,,,.n MI
Tamnorarily, there was q slighlly
,,e Eer trend. which was due to the
faynrahle weather West. but subsc
vanity more firmness obtained. mainly
IN, svmpa thy with the advance III
wheat Export trade has been decid.
edly disappointing,
The Cotton Market.
THO cotton market was dull.through-
! out the week There was a decline OF
some 10 points upon the resumption
of business after tile Easter holidays.
This was due to scattered scllinE from
| the South and by Wall Street opera
! tors, It soon ran its &coursc,a ana
| better feeling developed with the sharp
upturn In the stock market tnd easier
conditions in money. THIS lrnprove-
ment continued up to late Thursuav
/ afternoon when the May option sold
lat 9.G1; July, oil; October 9.06, De.
cember 1902, and January, 1919.
/, These prices represented u maximum
| advance of 10 to - nnrnts frrm Tho
/ closing prices Of Thursday. March .Stl,..
They were cstuhisiwl principally on
! covering Of shorts and Trash support
from the loading bull interests, From
f the opening OF the market yesterday,
however. there We're signs Of profit
4 ticking Prices last night closed barely
steady, at 12 to IA points off from
the top. or Just about whore tho mar-
kct ended before the Easter recess
! Tho movement of the crop continues
on such "a liberal scale as to disap-
/ point those who have been predicting
for some time a sharp failing off In
receipts The amount brought into
4 sight last week, according to the OIL.
clal figures of the New York Cotton
Exchange, is 1h9,797 bales, against
Ii1S7,0O0 last year. This makes the
total amount of tho crop brought into
sight or marketed thus far this sen
SON. from tho opening, on September
list, to dato, 12I97,00o bales, against
4 9.b50,O00 the same time Inst year
when the commercial crop turned out
K 11300,000 bales.
/ This continued free movement OF the
crop ut practically the tail end OF the
season. and tho comparatively smaller
splnners' takings, Is keeping the wnck-
| Is decreases in the worlds visible sup,
| NV down tn Smn II nrunort ions tj53