Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1912-09-26
Wagner's Summary
MORNING GRAIN LETTER.

now afraid of an enormous Canadian
movement Russian estimates con-
tinue very large. The only bullish
thing is the presence of SHOWS and
frost in the northwest. Influential
selling of wheat was reported Wednes-
day A bad map may bring temporary
rallies, but otherwise the run of sta
tistics from Sept ! TO 80 has been
bearish.
The corn market acts as if 10 cents
might be the limit for September corn.
Contract corn is "A cents. One of the
biggest farmers in Iowa was in Chi
CagO yesterday. He says the central
west never had so big a crop of corn.
The frosty snap of last night may help
bulls little Corn bulls advocate the
purchase Of December or May corn
against sales of December and May
wheat
Packers are holding hogs at $3.50 on
a small run. Feeling that cheap corn
IS assured makes products a bulge
sale
I My reports indicate that the frost
touches of last night were mainly
light Liverpool wheat comes a
lower
Decatur. H., reports offerings Of new
corn and oats are light.
Cedar Rapids, Iowa, reports a kill
ing frost.
Spring wheat flour output is at
about a record pace, but new orders
are quiet
Track bids reported in central Ill
nois for No. corn are not bullish on
September corn above current quota,
tons
Oats once more look bulge sale
New York, Sept. 26.-Reading system
earned 1909 per cent on s7O,OOO,OOC
common stock, compared with 11.47
per cent in the previous year. The
Bank of England rate is unchanged
Erie earned 7.05 per cent on first pre-
ferred, against 1925 per cent last year
after first and second preferred divi
i dend; 10 per cent was earned on com
mon, against 2.52 per cent in the pre-
vious year. Erie directors authorized
, an issue OF 100000 equipment trusts
5 John Latin says: Il am we'll satisfied
) with the business outlook; condition!
. are much better than could have rea
= sOnably been expected. The chief un
certainty lies in tariff changes"
American stocks in London are firm
: Is TO 3 higher.
) New York, Sept. 26-With I pc
cent call money in evidence, we viii
have an irregular stock market today
The banks will doubtless call nor,
loans today, in order to fortify thei
+ surplus reserves. If they show furthe
/ losses TO the sub-treasury, in addition
to the S5.500,000 lost since Friday, thi
means forced reductions in loans
There are heavy orders this week b.
western banks for shipments of fund
had by them at this center We do no
expect call money to work material
e higher.
| Liverpool. England. Sept 26.-Wheat
The market opened under pressure G
the lower American cables and price
Q were q lower. Later there was a fun
ther decline of Is, with moderate rea
izing on the weather in the Unite
Kingdom, with freer arrivals, lowe
Canadian offers, weakness in Bueno
Ayres, with lower offers there and les
q inquiry for both cargo and parcels.
It Russia is Offering freely. and III
!, forecast is for larger shipments thi
II week. Notwithstanding these inf
ences. the market is comparativel
= steady. with stocks light.
y AT 1870 p m. the market was du
y and Z lower than yesterday. Cor
a opened X higher in sympathy Wit
Z America Later there was a decIin
i Of Is 10 u on the continental pre-
q sure, cargoes afioat and a poor SD,
; demand. Plate offers continue larg
10 with private forecast Of very heay
:: shipments this week.
q Buenos Ayres wheat closed easy an
- y lower. being influenced by low,
h foreign bids and the favorable outloc
: for the new crop.
q Paris wheat opened irregular. i
n higher TO 8 lower. Flour. firm, l
i higher
Ali the news all the time - TT