The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-01-06
Light Shipments from the In
terror Help. to Hold
Grain Firnl.
CORN QUIET, GOT STRONG !'l
Cotton Fairly Active, but condi-
tons Are Such That Specu-
latorsg Are Bearis1. !.

6rtts8....f- $1,000 -.-- .--.
VIEW YORK. january 5..--Domcstic
wheat marketg we're extremely unset
tied In the nrst half OF the past week.
Tho fluctuations were so violent and
giraffe a s to Indicate clearly that tile
cfnployr1entg.o Of inanipulatiye tactics
was mainly responsible. There was
nothing in the. ma rket news to justify
Any radical changes, and practically MI
z adylces from Chicago inttnlated that
the large professionals were milking
|. the market with great energy. The
rapidly and violence OF the changes
naturally }caused much confusion, which
was, no doubt, Just the result aimed at
by tho leaders.
Some OF the numors Circulated.
Weakness prevailed at the beginning
4a offerings were extremely liberal, 1t
being stated that one OF the biggest
holders In the West had disposed OF
the greater part of his line. Although
at was readily perceptible that there
was a large quantity of wheat on offer.
many shrewd observers were extreme.
~ incredulons regarding the alleged
liquidation as such a course appeared
to be entirely unwarrantcd. 1t is true
that cables were somewhat lower, and
that houses having foreign connec-
I1OpA were 1Eec SSlIsTS,f UuS COusStSGT
tive dealers do not attach much impor-
lance to these factors, claiming that
since we have already sold nearly all
OF our surplus there ts no reason why
we should be alurmsd attany fractional
declines abroad. In a word. as Europe
has Already taken more than 90 per
cent OF our surplus. with the crop year
barely half over, we need not worry
much whether she hurries about COM
Ing after tho insignificant balance or
not.
why Foreign Markets We're Weak.
1T was generally claimed that Mon
days wcakncss in European markets
pas due to the fact that tho worlds
exports were roundly 1000 900 bushels
more than had been estimated but this
was in reality not such bcarish FAC
ter, after all, as the total cleared was
Approximately 100000 bushels less
than the estimated weekly import re-
cuirsments. Then, too. while weak
ness In Europe might be looked for In
the event of unexpectedly liberal ex-
ports. there Is no reason why VIC should
be similarly affected, since We are sup-
plying more than sc per cent. of the
total. For example. out OF the S.e06,0o0
bushels shipped last week, we contri-
butcd e43S,000, and the rest OF the
world c,l1s.o0o. while at the same time
last year almost the reverse obtained.
eur share being only 3.2os,o 600 bushels
cut OF the total OF s,112.000.
Whea the Market Turns.
On Thursday. after the holiday. the
market was strikingiy buoyant. prices
rising with conspicuous rapidly, which,
in the opinion of many shrewd trad
ers. confirmed the Impression that the
markets cratic course early in the
week was wholly caused by manipula-
ton. For one thing. the late strength
was attributed to reports that the large
Western operator who was alleged 10
be unloading on Monday and Tuesday,
wae rebuying.
e AS previously intimated, there was
no valid reason to believe either state
largely attributed to unexpectedly ia
vorable cables, European markets
showing a strong rising trend. and
especially Liverpool. where cash wheat
WAS extremely guoyant, and notably
hard Kansas. which was up 4@5 per
GENITAL. In the main, this big rise was
ascribed to reports OF poor prospects
ia Russia, where the temperature Is
extremely low, with no snow protec-
ton.
In domestic markets strength was
also created by light receipts at pri-
mary points. and predictions of a
further dim!nution. owing to light de-
,liserics by farmers at country stations.
At the close the buoyancy was
light exports from Argentine. the ship
ments being over so per cent. less
than in the corresponding time last
year. whereas. owing TO the glowing
reports regarding the production there,
much bigger exports were anticipated.
There are said to be good export orders
here, but business has been retarded
by the mea gre supply on offer and the
higher views OF holders.
n'he Week in Corn.
81 There was only small volume OF
ket. and at times the variations were
Glow. although in the main a strong
upward tendency was noticeable. which
was ,ascribed partly to encouraging
cables, and partly to light stocks and
poor grading.
f The supply Of prime contract corn is
IS significant. while farmers deliveries
4 at interior points are restricted, partly
because much offthe new crop is too
Z. soft, and some of 1t is said to be musty
and unfit for anything except feeung
to farm animals. Exporters have been
IN receipt OF larger orders, and have
displayed a greater degree Of interest
but ct times trade has been hindered
4 by the nleagre supply OF prime grades
4
much larger business has been done in
rye for export at Arm figures.
+; Cotton Market.
There has been a fair degree OF &C.
tiVityst In the cotton markets during
the past Week despltaythe interruption
OF the two days holiday on the Liver.
pool and New Orleans markets and thu
single holiday here Trading has bee.
mixed wtthabea rishness the rule In al
the markets on the heavy Increase II
the movement OF the crop and cores
pondings small spinners takings con-,
pared With last year, the increasing
worlds visible supplies, and the poo
trade reports from milling centresan;
dry goods districts. Prices fell abou
20 points up to yesterday morning, al
compared with Mondays closing quo
tations, the equivalent of 81 per bale
but sin8the rally late yesterday afterno.
all but five to ten points of this los
was recovered. The market. however
ended In 8 very irregular and unset