Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1914-08-20
Courier's Complete Markets
CHICAGO DAILY
MARKET NOTES

The chief cause for the advance in
wheat the last two days Is that many
| OF the exporters at the seaboard and
| elsewhere have suddenly discovered
that they were short, and have great
| IT, helped to advance prices. They
recently sold out great deal of wheat
originally abroad for August shipment,
under the impression that the war
automatically cancelled their contracts
with England and France. They have
suddenly realized that those with the
two latter hold. This is the version
given by one man well up in the ex-
! port trade.
A clause in the London corn con-
tract under which practically all sales
abroad have been made says: Should
shipment be prevented by prohibition
OF exports, blockade. or hostilities, this
contract, or any untitled part thereof,
is to be cancelled" The question Is,
where must hostilities be to render
sales void under the London contract
France and England are open, but the
German ports are closed.
The report that 1000, 900 bu new
export business in wheat had been done
at the seaboard with France, Spain and
Portugal was received by Harris
Winthrop after the close. Chicago and
seaboard exporters said most of the
business was In sales from one ex-
porter to another, also cancellations, al
though little was new business. There
were resales at Galveston yesterday at
about Chicago September prices that
originally cost SC premium.
Sales Of oats for export from Chi
cago the last two days have been close
to 100000 bu, of which Baltimore has
bought the largest percentage. 1t is said
that most of the oats are for export to
France. Bulls figure that there may be
25,O00,000 bu sold from this country for
use In England and France, which will
take good part of the surplus. Claims
were made yesterday that the exporters
Buffalo and eastern Atlantic ports.
New York reported 100000 blu sold
there for export. Farmers have stop
ped selling, and are binning their oats
Some OF the cash people In close touch
with the country trade in Illinois say
the after harvest movement is over.
Fred Brodersen, Battle Creek, Iowa,
sold on Mondays market twenty four
cattle Of his own feeding avera ging
1853 lbs at $780,
w. B. Fritz, Dexter, Iowa. was on
Mondays market with twenty -four
9O7 Id Angus yearlings, steers and
heifers mixed, Of his own feeding and
raising, which sold to Swift & Co. at
So
A, Reik, Madison county, Iowa, mar
keted Monday thirty-eight 1921 Id
branded steers of his own feeding
which sold to the United Dressed Beef
Co. at $40.
A. HI. McCorkle, Earlham, Iowa, mar
keted Monday thirty head of IT'S lb
yearlings. which sold at 1926. He kept
two cars Of the tops back and will
finish them for market later on.
Lutteken Bros, Rhodes. Iowa, had
one load of steers on Mondays market
at $1o.15, averaging 1868 lbs.
Only few steers reached Chicago
yesterday, but there were $4,000 at
the six western markets, against "a
900 last week. Corn fed steers were
steady, the best selling at $1,000, but
It was an easy market otherwise.
Western cattle were 10c lower, the best
OF the Heinrich consignment from
Montana making $s.40, with the big
string at 1915.
Chicago had 144 carloads Of sheep
and lambs yesterday and not single
load Of wethers. Getting out Of the
sheep business has been as emphatic
as COW liquidation
The good action attained on the horse
market Tuesday when offerings re-
manned small and demand continued OF
fair volume. Shippers have been good
buyers during the first two days of the
week and this demand is expected to
hold for the present. White trade is
active, prices have been given a bet
ter tone as compared with last week
and at present market Is enjoying the
best demand seen in many weeks.
1t Is expected that shipments Of
horses from Canada to England viii
begin shortly and this case should have
a good effect on the local trade.
especially for grade of horses suit
able for army use.
A group Of New York banks. headed
by the National City bank, began to
buy freely Of grain bills on contracts
for shipments to the United Kingdom
Monday. This put an entirely differ
ent aspect on the export situation yes
terday. At the same time arrange
ments were perfected between the
Bank Of France and other financial in
situations of France with ]. P. Nor
gan & Co. so that shippers Of wheat to
France were enabled to dispose of their
bills. This is probably the cause Of the
sales Of 100000 bu new export bust
ness reported late yesterday to France
Spain and Portugal. 1t was the basis
for a lot OF buying in all markets,