New-York tribune., 1912-08-19
blP MARKET REVIEW
,vsraue of Prices Slightly
Iower Than Last Week.

IN the wheat market has been
s,rine the last week, with the gen
Sl,N ,endency upward, although sharp
~ marked the close of trading on
49, A feature of the trading has
SI's .sa large export movement, which
esA o,ed late I'm the week In the ad-
81 ocean freight rates TO high
Wy ,or some of the European ports
~, Sampered the buying Of wheat for
-, shipment The trade seems to
p'.1 ,be belief in a big crop Of spring
%" COO firmly fixed TO be affected by
W. ~.-ory weather conditions, and rail-
'snp' .ororts tell Of the mobilization Of
TO" tho Northwest TO an extent never
cS,' onproached. showing that they are
N...d I'D TO handle an enormous crop.
average price Of No. red wheat
I~ I'a gain for the week Of one-half
''v bushel for cash. rejecting firmness
'' ~ interior markets, especially Chi
Sgo. -. .,,..,.o. -.
10 although irregularity marked its
,,.so I-,, At times. The September option
'Y. Y.oa remarkable strength early in the
., although later a large part of the
~ ,rss wiped out. only to be recovered
s'i' ,.st again before the close Receipts
~. usht. the demand was greater than
-. supply and cash corn premiums were
A., These factors were responsible Tor
,ba strength in the option. and the break
WV L. - tbe high price bringing out
hrger offerings
oats we're in line with the other grains
.,oent so far rs the cash markets were
(,ncerned. drop in the cash quotations
s.Irg the principal feature Of the trading
Ths smaller grains held nominally steady
..rr0 the week. but slight reductions
we're marked.
The cotton market had shaking mp
..ylv IN the week following the general
gouIdation Of the previous week. ana
when a rally set IN, on Tuesday AFTER
,oon Il found prices about - points
down for the two days, and $40 20 ohe
bsIoyy the high Of July 20. II was oilIy
natural that rebuving Tor turn ana COW
,rine hv shorts should follow such dras-
,c break. and before the upturn was
checked some 90 or s. points OF the loss
han been resained. Hedge selling ana Hq-
uldaton caused another setback ana
while the close Of the week found prices
os nearly q half cent a pound from last
saturdav's figures. they were up about -
points from Tuesdays low lever. FOR
flgn spinners have made a record break
Inc consumption Of cotton for the year.
hut they are believed 10 he still fairly
well supplied, and with the outlook favor
able for a Il .00O. 900 bale crop agents
and exporters seem inclined TO take IT
sasv and wait for still lower prices before
laving IN any large stock Of supplies.
Provisions have shown weakness in
spots. but in the main have held their
own in spite Of the fact that livestock
with the exception OF beef cattle, have
declined in price throughout the week.
Packers here have sent out notices OF
advances in various cuts Of beef but the
live weight prices show an increase for
the week Of less than half cent a pound
While calves. sheep. lambs and hogs have
all decreased in price "on the hoof.
Coffee has had some active and violent
sessions. its ups and downs having Kept
speculators busy, especially late in the
week. While there have been rumors OF
weather too dry and hot in spots for the
growing plant. traders have noted that the
month is passing without frost scare
nd The weather conditions have not at
acted the attention in this market they
mdinarily would. as European markets
and local conditions have been Of more
inheritance. ConsumpUve buyers are be-
lsved TO have let their stocks run down
70 low level a large European short
interest has made itself felt in the local
market and with Santos the only foreign
market which failed TO show advances on
saturday the week end found traders here
Hrm in their views and spot coffee only
ilsc lower for the week, with futures at
. slight gain.
In the realm Of country produce ana
dairy products prices have been easier,
with frmness the rule only where eAcep-
tlonally fine goods were in question. Po-
tatoes have dropped little. cheese holds
lis own. butter is slightly lower eggs have
vained a very little and the small fruits
and vegetables have dropped in most in
',snces.
OF nineteen articles Of current con-
SUMPTION thirteen show an average cash
,uotatjon for the week lower than that
for the previous week. Only five-wheat.
Iam,Iy beef. lard. live cattle and eggs
'how q gain. with nbur unchanged from
last weeks figures.
There is little in the minor reductions
h prices noted 90 hold out hope for an
or permanent reduction in the
high cost Of living, which the ingenuity OF
the housewife is taxed TO meet. Recent
census figures show that while the popu-
lation OF the country has increased in the
last decade nearly 100000, or Il per
cent, the acreage devoted 20 the leadlng
cereals has increased only 3l9 per cent
and the aggregate production only IL per
cent These figures deal with only GER
tain selected crops. 1t IS when the entire
production Of the farms is dealt with that
the difference begins to explain why food
stufs are higher. According TO the
census statistics the total value or the
crops IN the United States in 1899 was
only 1889. 900. 900: ten years later. or in
1909, the reports show value OF S5'48"-
100000, an increase Of $2,4SS.OOO,o ,oOo' or
50 per cent. This increase represents
What the farmer has received from the
rest OF the community. in the face OF prac-
tically no increase in production In the
last ten years. In the same term the
value Of farms I'm the country has in