The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-05-15
SHORT SELLERS ARR
ANXIOUS TO COVER
Wheat IS Higher With Large Export Orders
Corn Grows Firmer On En-
couraging Gables. I.#.

I3iv NeW i orR, May li.-There was much
irregular!ty and unsettlement in do
mestc wheat markets during the frst
nall OF the week. The distant or new
crop deliveries were somewhat weaker.
while the actual cash stuff ana lie Nav
contracts were comparatively strong
As a result the breach between the
old end new crop deliveries widenel.
Here the May premium over July wild.
ehed TO Is cents. against a cent last
week, while In Chicago the May pre-
MUM Went TO 6iS cents. against c cents
GARY on Monday II was evident that
seliers Of May for the decline had be-
come anxious 10 cover. This caused
no surprise In the loca market. as all
unbiased dealers realized that IL was
not only absurd but dangerous to KEGS,
snort of May. in view OF the fact that
prices here were exceedingly low as
compareH With Western markets. and
partieAlarly- Chicago. Consequently
II seemed foolish TO expect any Inote-
worthy receipts.
Covering by spcculntors.
To make matters worse contrac,
atocks here are exceedingly light. only
$4,000 bushels. and practically ali
owned By local millers In ADDITION
covering vas also stimulated BY the
renewed interest displayed ny EXPORT
ers, who have taken fairly large ullan-
titles OF No red for EXPORT. mainly
10 Antwerp. subsequently they were
IN for additional lots, and were bio
ding still higher premium over Nav
contracts, but failed to secure anything
noteworthy. Buying was also nuick-
ened by the huge decrease In available
supplies. both here and abroad. oar
visible supply statement showed de-
crease OF 100000 bushels. while the
Canadian total decreased over 1000 900
bushels. Besides. there was a moder!
s1ely large decrease IN the quantity on
passage and a heavy decrease in the
European visible supply Asa result
the worlds available supply showed an
astonishing reduction. lo.404.o0O bush
els against 7,37s.60O bushels wear
ago.. itA
The Government Figures.
The monthly crop report OF the De
pertment OF Agriculture had only tenn
porary and unimportant influence. as
u was variously interpreted. and con.
sequently left no fixed imprcsslo lon II
was true that the condition was con
sidered favorable. being placed at Ss.l.
against 1913 last month. S2.i last year.
end ten-year average OF SIS, but this
had little influence, because every one
"as aware mat the excellent weather
prevailing during April would cause
material Improvement Therefore
the gain had been largely
discounted, AS reflected in he
declines that have taken place during
the past month. Furthermore the ca.
called high condition was largely conn
terbalanced by the unexpectedly large
area abandoned 3.l1s.0o0 acres. or
about 1000, 900 acrcs more than Mas
been anticipated. The greatest aban-
Comment was in the Southwest where
the drought had been most sen ere Kan
tas losing f.+7s,ooO acres. Oklahoma
$4,000, Nebraska $4,000 The only
other important losses were $4,000
acres each in Illinois and Indiana.
In other words. while there Will be
somc deficiency In the hard wheat bro.
duction, there will be great abund
snce of soft wheat. The condition On III,
urea given. 31.367.0oO acres suggest.
ed yield of 15.6 bushels. as given b,
the department, or total of 1884,
600 bushels. 1t Is a significant fac
that the department has adopted the
new method OF Interpretation used If
this column for some years. and con
aistently urged here for the govern
ment's adoption. This results in max
Ing II Official and demonstrating III,