The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-04-27
Deliveries Improve Owing to
Reduction in Available
Supplies.
CORN QUIET AND MARROW
Cotton Goes Down With a Bump
Loss in Two Weeks Of 100
Points.

NEW YORK, April 26--while do
nestle wheat markets were eXtremel!
fcverish early in the week. the tone
was stronger. Cash wheat and tht
nearby deliveries were especiail!
strong: May here scored an advance
j SIS cents better than July. so tina,
the premium on the former went &c
z "a cents, against is last week
me gain tor May In Chicago was even
greater. the difference early this week
. being IA cents, against rs last
wee: but the market where May
showed the most strength OF all was
Minneapolis.
A much better inquiry was reported
from both m.llers and exports Win
the opening of the lake navigation there
Will unquestionably be large quaint
ity of wheat moved from the west, as
a considerable quantity has been sofa
for shipment to Europe, and a great
deal is destined for Eastern mllers.
who have as usual allowed their stocks
tn run down to low level during the
( winter. Then. too. the demand was
accelerated materially by the firm.
ness abroad. in view of the fact that
the quantity on passage showed de-
crease OF over 2,5oo.ooo bushels
Question of Exports.
SniOpers mere doIIll idNAh ASSS''.N1
good orders for several descriptions,
and limits have been advanced, the in
ouiry appearing to be especially brisk
for hard winter wheat via the gulf.
Still. buyers for foreign account are
unable TO secure much wheat IN the
w est. as nillers both in the Southwest
and Northwest are bidding much more
for milling grades.
1t was not surprising that the distant
toll a l..
= Der. failed to keep pace with the May
in the upward movement inasmuch as
the bullish statistical data affected
MAY almost exclusively. while the for
mer were mainly Influenced by the
bearish Influences In the shape OF IA
vorable weather and crop reports from
the West, where the plant in many
places is said to have been greatly
benefited by timely rains.
Late in the week wheat markets
were exceedingly irregular and un-
settled. On the one hand. the weather
throughout the West was favorable
the. temperature being seasonably high
with further beneficial rains. and con-
sequently the crop outlook was repre-
sented to be satisfactory in most Sec
lions. On the other hand. the actual
cash property and May contracts were
somewhat stronger at times. which
was ascribed in some quarters to the
insignificant shipments from the In
terror, the arrivals at the principal
Western points being far below do
mestic requirements, aggregatinS over
go per cent. less than in the same days
last year. Meanwhile, shipments are
being made eastward from lake ports.
and as soon as this wheat has been I'M
loaded from lake steamers at Buffalo.
most Of 1t will probably be speedily
distributed, and therefore big reduc-
tons are anticipated in the visible
supply.
Outlook for Argentina Shipments.
Buying of May was also duickened by
the extremely light clearances from
Argentine which will make 1t almost
certain that the quantity on passage
will be again reduced materially.
Notwithstanding this. however, the
late cables from Liverpool were disap-
pointing. that market showing little
or no responsiveness to our advance,
but this was partly offset by sharp
advance In Berlin and Antwerp, which
/, markets are generally influenced to
marked extent by Argentine exports.
The announcement OF the failure Of
large stock, cotton and grain house
served to create nervousness and UNI
easiness temporarily, but it was subse
quently found that this firms interest
i in grain was unimportant. Exporters
have acknowledged the receipt Of
larger orders for practically all varic-
ties, including macaroni and soft and
hard winter Unfortunately, 1t has
been difficult to execute orders, espe-
c!ally for winter, which has been offer
!, ed sparinsly at comparatively high fig
ures, bit the opening OF lake naviga-
ton has resulted In a reduction In the
premium on spring wheat. This latter,
\ however, did not help exporters TO any
! noteworthy extent. as the scarcity Of
|. spring wheat has for long time kept
It out of the reach OF shippers.
Uncertain Movement of Corn.
In the corn market the dealings have
been inactive, and the price variations
i slow and narrow. Conservative traders
have been inclined to hold aloof, ow-'
ing 20 the great scarcity Of contract
grades. and the fear OF manipulation
In Chicago. Nevertheless, slightly
! weaker feeling has obtained at times
/ owing to reports OF increasing ship
/ ments from the interior. Trade In
cash corn for both local and ftreign
account has been dull owing to the
limited offerings OF desirable grades
and the high views OF holders.
Cotton Market.
Cotton markets showed further
marked irregularity and weakness
during the past week. This, however,
the heavy local liquidation and South
ern selling movement from the decline
In prices. which started with the mar
ket breaking through the lO-cent basis
at the beginning Of the month. At
times Better class of support and
covering Of shorts from the theory
that prices had gone down far enough
occasioned some good rallies during
the middle OF the week. but in the
main the tendency has been toward a
Mower level. While none OF the three
Failures which have occurred on the
exchange this week left any impor-
.tant losses in the trade, the effect of
them has been 10 unsettle general sem
timent and hold in restraint the in
aIguration Of any bull movement
which might otherwise have been at
tempted through the encouragement OF
the large short interest which Is now
believed 10 exist. The decline in
prices from last Thursdey's Closing to
the middle Of the week carried the