The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-05-26
GENERAL TENDENCY
is SLIGHTLY UPWARD
Wheat Market Appears to Have Been Oversold, Con
sequentiy Only Small Incentive Seemed Ne
cessa1Y to Run Shorts to Cover

New York, May o5-Unsettlement
obtained in domestic wheat markets
early in the week. but in the main the
general tendency was slightly upward
The market appeared to have been
cNersold. consequently. only small
incentive seemed necessary to induce
shorts TO run TO cover. Al the outset
buying was stimulated partly by com
plants that rain was needed west OF
the Mississippi and in the spring
wheat territory. Advices from parts
of North Dakota and Northern Mime
sofa suggested that, owing TO the bad
weather. there was some reduction i'm
me area; IN many places the seed had
laiied 10 terminate properly. In The
canadian Southwestern provinces. seed
ing has been delayed. This is OF mora
than usual Importance now. in view of
the proposition TO cut down or entirely
remove the duty on wheat and cour
II was alleged tSar in the Southwest
the plant had '.eos~e backward partly.
owing 10 insignificant moisture. and.
furthermore. chinch bugs have become
more numerous. Cables had slim.
ulatlng Effect. European markets he
ing slightly stronger. Notwithstanding
thcl arge worlds shipments.
NeNertheless, The quantity on pas-
sage decreased materially, whereas a
year ago. there was a big increase. 1t
was also pointed out that, while the
tota put aiioat was large. nearly half
OF u was from North America 'rhorc
was fairly large decrease IN The
european visible supnly. against an in
crease YEAR ago Of 5000. 900 bushels
consequently, Tho worlds total iS uo,,.
only SG.o00.ooo bushels. or nrac,icaII,,
100000" bushels less than las, wear
II is believed that Europe viii nnod
10 import freely during the next month
~ t"o-ohc statSticlau figures thar
Europe will nccd to draw on North
america for about 5000 600 bu.hols
weekly. during the next nine weeks
Now that the coutroVersv ba;waop
sellers on this side and huyors in an
rope has been amicably settled. bo,b
sloes having compromised and acread
upon seven day draft instead OF six.
~ GAYS as formerly. 1t is believed that
The o'por' buying viii ho vigorous
Smaller Visible suppl. Expected.
Neccipts ~ wheat At interior points
nave been lieht. while shipments Fast
ward into consnmptive channels a., to
Europe have been heavy. Consoouent
~. further large decreascs are exnoct
ed in visible supply
wheat prices continued 70 ructuo,e
In an erratic fashion IL the last half
OF the week. there being numerous
PERIODS OF alternate huoynncy and
weakness. Occasionally yalOes vere
al slightly higher level. and :, was
evident that short sellers were uuess,
largely because crop reports from tho
southwest We're somewhat unsatisfac-
tory, IS rule. Indeed. some reports
we're so poor az 10 create much sken.
uc'srn, nearly ali conservative me,
chants believing Them TO be greatly
exaggerated. There has been deteriorn.
ton Ia some places, owing partly 10 the
insufficient moisture. and partly 10 I'm.
sect life. il is believed that the los,
VIII be inconscquentiai There may b.
some slight lowering OF tho condition
the final outcome Will be gratifying
barring exceedingly bad weat her in IN.
near future.
Reports from the Northwest, OH boil
sides OF The border have been some.