The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-04-15
GOVERNMENT REPOR T
STIM ULATES BUYING
Violent Fluctuations Early in Week, Foil wed
by Somewhat Startling Advances Corn
BuOyant on Liohl Stocks

New York, April li--Extrenely err
Tbtic and violent fluctuations occurred
In domestic wheat markets carly III the
wceh especially in Chicago. where
May contracts broke in q somewhat
startling way 10 rebound almost us
shat ply. The rapidly OF the varia :
tons made ~ evident that large pro-
fessional operators in Chicago we're
manipulating that market vigorously.
There wcrc all sorts of ruinors in ctr
culation as TO the intentions of me
leading bulls. Needless to say. there
were various theories advanced and
much confusion prevailed. Some I'M
agned that large holders OF May We're
endeavorinS To unload. while others
supposed that the market was ralled
largely for the purpose OF forcing cut
small holders While the May was de-
Ginning. tho distant. or sp-callnd new
crop. contracts held comparatively
steady. which vas partly ascrihad to
nnfavorable State reports from M>s-
aouri and Michigan Tho temporary
weakness was attrihu1cd to the uneS-
pectediy large worlds shipments. and
the resultant heavy increase in Inc
quantity on passage. This was caus-
cd mainly by materially large exports
from the panuEiau region than hau
been anticipated.
Tic Government Rcports
suddenly the whole list became
stronger partirularlv the remote de-
liveries. which advs need In n some
Nhat startling marnrr. Indicating
plainly that sellers for the decline mad
become nervous and anSious 10 cover.
Buying was largely stimulated by
the monthly crnp report OF the DO
partment OF Agriculture, which shows,t
lower condition for winter wheat
than had beer expected, namely. Su6.
or per cent lower than in ID
cember. and 80 rer cent. less than the
ten.year average. TIE losses Nero
largely confined to SOFT winter wheat
States, notably Ohio. Indinna. ILLINOIS.
and Missouri. III fact, the condition
was Slightly higher In sornc oi the
hard winter : wheat states, notably
Kansas.
The official report was somewhat de-
fectire. as 1t made statement as %
the probable outcome, in bushels.
which Traders were anxious 10 have
On the area seeded il was estimated
that the production would amount 10
about ;9S,ooo,ooo bushels; but this was
considered to be practically worthless,
because of tho fact that man. thou
sands OF ncros will be abandoned an.
resown TO oats. corn. etc. Some ot tEc
so-cslled experts estimated tho lban-
donment between 3.onO,n0o and 5000
3
only slightly larger than last Year
1t liz, however. worthy of note .hat
crop estimates At this carly day arc
Of little value. In other words. the
ground Is still too cold and haei TO
permit of any reliable estimate - 10
9he condition of the plant. Competent
authorities agree that after two warla
more Of mild, spring weather. the
Plant may develop enough TO show
the extent Of the damage sustained
Buying was stimulated partly by tho
continued light receipts ~ primary
noints and the larger shipments INTO
acoRsumptirn channels, and. therefore.
il is expected that the visible supply
statement Will show further his re-.
auctions
Further Rise IN Prices.
Late in the week there was q FUR
iner material advance. especially IN
the new-crop contracts. which were In
ective demand for both accounts.
Shorts We're showing much anxiety TO
cover. owing largely 10 further claims
Of crop deterioration, especially in soft
winter-whcat States There was also
some talk of less favora BILE prospects
in Kansas but information on th,s
score Is vague, and hence much 5ken-
tciEm obtains. Among several So