The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-06-15
Advance III Prices Checked by
Discouraging Gable
News.
CORN is QUIET AND FIRM
Cotton Market Dull-Weather
Conditions Far More
Favorable.

Favorable.
NEW YORK, June 4.-Domestic
whc;tt markets were nervous and i'm
settled much Of the week. The early /
trend OF prices was toward lower levels. |
ard on the whole bearishness pre- /
waited. as is so often the case ut this |
season, Most dealers are of thn cpin-
ion that with the exception OF those
sections where moisture was over
abundant the wheat country has been |
blessed. with mncommonly favorable
climatic conditions, and this has led 10
predictions that the crop this year
will he second only TO that of l9nl |
viz S,S6o.00o bushels. Fad 1T not I
been for the fact that the bcnr element
was restrained somewhat by the Jack
OF positive knowledge as to how mach |
injury had been done By the floods IN !
the West. 1t IS certain that the freak
in prices would have been even greater.
Western rivers have ovcrf.owti sur
rounding country to an unusual OK |
tent and in some places 1t is said that
the Mississippi has stretched cut as
much as half mile on either SIDE.
Question of Actual T,mnSc.
The only damage figures obtainable
were given out by the Kansas 'irain
Dealers Association. and stated that
lhe oron in that State had suffered to |
tbe extent of 100000 bushels. inc
unsettled state of the. market was hlso
duo in part to the many different ways |
IN which the speculative clement re-
varded the Agricultural Departments
nfFicial report. AS general .h'hs'
however it was thought TO be laNoi
able. it being agreed that tne ihcieassu
snrinr wheat acreage practically coun
,erhalanced the fact that the condl-
lions given were rather lower than
had been expected.
The winter plants condition fell from
so last month TO Sc, one point below
general expectation, and suSsesteu
.ron Of 44o.3l5.o 900 bushels. although 1t
Is believed that the floods since June
Isl will result in the July report sno"
Ing a smaller yield. The spring "nea.
condition was two points lower IMAM
anticipated. being rs per cent" and
tltis seems to promise A productloh Oh
o47.o,o.o 900 bushels, giving total crop
of sss. $4,000 bushels. against 6S',?ii,-
MN indicated last June, and 634,oShooo
at harvest.
This total seems eminently satisfac-
tory al first glance, but IT should be
remembered that the inevitable loss IN
the spring wheat crop between June
Isl and harvest will necessitate an I'M
that crop If we place requirements
for food and seed In this country at
sa5OOo 900 bushels there is an apparent
balance of I6S. 100000. but exporters
cannot expect us to spare that much,
as something must be saved TO re-
habilitate our reserves. which nave
been depleted to such an extent that
II seems certain that We VIII oeSih
the new crop year with the smallest
r. al wi
sharp Fluctuatfon Toward the Close.
Late in the week the market was
decidedly feverish, prices fluctuating
sharply, and III an cratic way, but in
the main the tendency was Slightly up
ward, owing chiefly TO further reports
of deterioration in the winter wheat
crop consequent upon further floods
in bottom lands in the Southwest. In
some places the water is as high, If
not higher than 1t was early IN the
week. and hence important loss Is fear
ed. and especially in places where the
grain was ripe and ready for the har-
vester. The firmness was also ascribed
in part to a bullish report from Mani
toba. where the Grain Dealers Asso-
citation estimated the wheat area in
the three provinces at 100000 acres.
against 100000 previously.
Little Interest in Corr.
There has been on life in the local
corn market, and the fluctuations have
been slow and narrow, although a
slightly fiSrser feeling has obtained at
times, owing mainly to reports that
planting had been greatly hndered
by floods in bottom lands. Export
trade has been exceedingly quiet, ship
pers having received few orders, and
generally at lower limits.
Cotton Market
This has been rather dull week
in the cotton markets. Liverpool was
closed on four days, and the Manches-
ter and Lancashire and German mills
We're practically closed down for the
full week in observance of the Whit
suntide holidays. With much more ia
vorable weather and crop news, there
was little encouragement offered for
continuation of last weeks bullish
activity. Sensational reports come
from the threatened overflow OF the
Red River and the Mississippi, and as
consequence considera BILE liquid la ton
by trade interests and reselling for
Wall Street was witnessed early In the
week.
Prices declined 20 to 80 points for
the general option list under the lead
OF the new crop months, with July
slumping to 2.96, August $50 October
as, and December a.l2. Bull support
In the old crop months, on the very
small stocks here, and the continued
strength of the Southern spot marke is
however, served TO check the decline
Thus on the week, compared with last
Fridays. last nights prices were about
unchanged for July TO points lower
on August deliveries, and % to 3.
points lower for all the new Gro,
months Spot markets are about uu
changed.
Weeks Weather Reports.
The weather conditions Throughout
the cotton belt have heen more fav
erable on the whole during the pas
week than for some time There hav
been further rains In the Southwest
but these have been less frequent an
more in the nature OF showers an
consequently less harmful. Elsewher
Financial.
M0KEV TN TnAK