New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-08-17
COURSE OF WEEK
in COMMODITIES
Grains Decline - Settling
Cotton and Coffee Deals
Sugar Advancing.

Except for an advance on Monday
the wheat market in the week just
ended has steadily declined. the loss
amounting TO about cents bushcl
from the high Of Monday. the close
showing No. rcd. f. o. b.. to nc -,
cents CHER than IL was . month sgo.
but only = cent above the price on
August Is, 1918. The drop WIS caused
by the steady accumulation OF supplies.
due TO the shutting Of Of the export
trade, and uncertainty on the point of
It's resumption has kept ,hc trade on
edge and the market extremely nor'-
Gus. The situation was further COM
pIcatcd by the condition OF the spring
wheat markets, the announcement that
a million sacks or flour were 20 be
shipped from Montreal TO Liverpool
aiding the settlement. The decline OF
the week followed an advance which
had aggregated about II cents before
IL was checked, and while there was q
slight check on reports or a falling OF
i'm the Canadian crop estimates, rotn-
ing Of 81 permanent nature was mani
fest TO influence prices the other way.
Speculatious as 20 tho amount Of wheat
needed by Europe settled on smaller
amount than America could be recs-
oned on 10 furnish. and color was lent
TO this by the fact that both cash
wheat and futures declined IN Liver
pool, whore cdrgocs were more freely
offered. including some from Australia.
although there were no exports 20 tu-
rope from The Argentine.
Corn was really the feature of the
grain trade. and its fluctuations were
sharp and irregular. the tendency
being upward early I'm the week, but
downward later, the declines being due
TO rains which meant q noteworthy in
crease IN the crop estimates and the
fact that farmers evinced more willing
ness to sell. New crop months led the
downward movement, but there Is stu
q considerable element in the market
vhich holds that futures are not too
high, when all the conditions arc con
sidered. Cash corn has continued TO
command top figures, the close OF the
week. 92is cents. being 1884 cents over
the price a month ago, and ga cents
over that or a year ago.
Oats have done little more than fol-
low tho other grains. although reports
that Europe was in the market Tor
American oats and that England had
called for all of Canada's surplus
helped 20 steady the market, aided by
cash houses buying futures. The gen
cral sentiment Of the trade has been
bullish. in spite Of large visible sup
plies and q bumper cron ON ITS way.
Closing Up Cotton Deals.
While there has been TO speculation
i'm cotton futures, the trade has been
busy in the last week Strengthening
out deals left open when the market
closed. a week ago last Friday. Nari-
Gus plans have been suggested, the
most feasible. apparently, being that
agreed 10 on Friday by the Liverpool
exchange. Tor throwing all unsettled
contracts forward to December at fixed
differences. These, however, have
been matters almost overshsdowed by
the question Of handling and financing
the growing crop, ginning OF which
will begin i'm a short time. Farmers
have been advised TO market their
product as slowly as possible, and
warehouse building on large scale
has been proposed in many ccmmuni-
ties and undertaken in some. 4 prop
osition was pat forward 20 ask the
government to adopt q plan similar 10
that used by Brazil in the coffee trade,
and the air has been full Of schemes Of
one sort or another, all looking to the
same end, that of helping the farmer
who must meet loans hold his cotton
until it can be marketed. It is 8 pc
culiar coincidence that this condition
Of affairs should be due primarily TO
the fact that the three big cotton OK
changes of the world Liverpool, New
York and New Orlcans-arc closed
Just At the time the Lever bill should
be on its way to enactment, practically
putting an end 10 trading in cotton
futures.
There is considerable speculation as
10 the effect The stOppage Of production
By foreign, or, rather, Continental mills
will have on Che market for cotton
goods and therefore on the staple mar
ket. and as the stock OF domestic mills
is moderate and an increased demand
for goods is expected 1T seems fair to
assume that there viii be a good mar
ket for spot cotton as soon as financial
tangles arc Strengthened out. There
have been some sales of spot cotton
both here and in Liverpool at prices
which show declines since the end Of
July. Texas reporting transactions at
1O010i4c for strict middling and Au-
Gusts, Ga, sales Of old crop middling
a. l1iac and new crop az l0i1c. against
lie. the nominal price here. There is
. 10 assurance as 20 the time Of reopen
ing the local exchange. but both Liver
pool and New York will give twenty
four hours notice OF a resumption Of
business.
The trade in cotton goods has been
very irregular, with print cloths declin-
ing. and some lines OF sheetngs, prin-
cipally the coarser, heavy sorts adj
vancing. One cause for this latter
feature was sales, estimated at about
: 1 : nnn NON - rds Of hnaNN shnnfinr 10