The Paducah evening sun., 1910-02-15
CEREALS HIGHER
In ALL LINES
REPORTS OF DAMAGE To WIN-
TER WHEAT PLAYS PART.
Too Soon for Future Crop TO Affect
Prices-Corn is Stjll a Dcbatable
Commodity.
PROVISIONS ARE STRONGER

/ Chicago, Feb. 15.-Out OF a con-
flicting mass of information prices of
wheat emerged upon a new and
higher level during the last week.
All the options In the cereal list
scored advances, and there were in
fiuences that sent provisions 20 a
loftier perch. With the raw materials
on the up grade the campaign against
the cost of living does not seem to
have been Immediately effective. Ap-
parently the old law of supply and
demand rose above all other forces
in the market.
II Receipts Continue Heavy.
II Receipts of grain I'm the northwest
continued to be heavy throughout the
week, running from day TO day twice
or even thrice what the movement
was a year ago. This feature, to-
gether with whatever doubtful in
fiuence the crop reports had. was
about the only asset of which the
bears could avail themselves as am
munition. At that the shorts, espe-
Icially in Chicago, where the supply
of grain Is limited, did not have the
hardihood TO press the advantage
which appeared to them substantial.
The weight of the argument persisted
lon the other side of the market,
hence the scoring of advances.
1t was not a week of great activity.
Trading was on comparatively linn
tied scale, the caution of the shorts
making 1t so in this market. The
activities of the week ended Friday
with a virtual truce until Monday.
the shorts not being willing to COM
init themselves deeply for so long an
interregnum.
Too Soon for Forecasts.
Reports of damage to winter wheat
played their part. but when summed
up at the end OF the week il was
pretty Wen agreed that the time IS
not at hand when trustworthy fore
casts may be made about the coming
crop. Latterly Oklahoma and Texas
came along with reassuring advices
about their wheat fields. venturing
the assertion that the damage thus
far done is inconsiderable, and that
the outlook Is quite satisfactory. B.
w. Snow, a well known investigator
Iof the fields, has been looking over
the ground in Kansas. His conclu-
sions are that there is as yet no occa-
, sion for worry about conditions.
! Fields are brown to the eye. but
clase inspection beneath the surface
discloses, according to Mr.. Snow, that
the roots are alive, that there is a
beneficial moisture, that there has
been no disastrous alienation OF
freezing and thawing, and, finally
that the basic conditions are as
wholesome as could be asked for.
Conditions Abroad.
A summary of crop conditions
abroad, according TO the latest avail.
able data, indicates that the outlook
is good in the United Kingdom, IN
Germany, Hungary, Bulgaria and
Turkey. and that there is a norma
situation and prospect in Russia, al.
though in the latter country there 4.
anxiety in some quarters owing to a
lack of protecting snow. Northern
France will do considerable replow-
ling, but compensating influence lies
in beneficial rains.
There is a strong buE argument In
the visible supply of wheat, which is
the smallest at this season II has been
in two decades. The dearest ap-
proach TO ii was In 1905, the year
|of the elimination of the John w.
Gates deal, when the total was 34.-
600, 900 bushels, compared with a
present showing of some 1000. 900
bushels below that quantity. Stocks
lin Minneapolis and Duluth in that
year were 5000, 900 bushels COM
pared to about 100000 bushels
now.
Up in Canada the visible supply
fell off week before last 23O 900
bushels, whereas there was an in
crease of 100000 bushels for the
corresponding period a year ago. The
worlds available supply gained only
3OS 900 bushels. Last year at the
same time there was am increase OF
3,415 900 bushels. The total world s
available supply at latest reckoning
was 1000. 900 bushels short OF the
figures in the first week of February.
1909.
Eyes Of Trade on Mexico.
The eyes of the trade are upon
Mexico with a measure OF interest in
anticipation of the fact that after the
middle of this month there will be a
material reduction of the tariff ON
wheat shipped into that country. The
people of Diaz need wheat, hence the
opening wider of the gates to Ameri-
can grain. st. Louis reports liberal
selling for Mexican consumption dur
ing the last week This factor is not
expected to cut a big figure one way
or the other, standing by itself. but
Il may be wind to help. The st.
Louis reports of sales are of a gen.
eral character, lacking in convincing
details.
FIGURING interests OF the north
west made some good sales early in
the week. An interesting report of
tho u,oalr was that ono of fha most