New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-09-14
COURSE OF WEEK
In COMMODITIES
Grain Prices Declining
Spot Cotton Lower
Coffee Also Says.

q
Almost steadily downward has been
the course of wheat prices in tho week
Just ended, last figures showing net
declines Of 12Hc to 12llc from the top
Of the bulge q week ago, with buyers
not anxious to trade. The cause Of
this has been mainly the change In the
reported condition Of affairs in Europe,
as the government report. issued on
/ Tuesday, was bullish, INthough the
! steadily increasing movement of spring
wheat and the decline in the export
/ demand were also factors. In spite OF
| the reduction In the Census Bureau
! figures Of the spring wheat crop, and
J the consequent dropping Of the total
/ 20 S96,00O,000, the crop will still be
much the largest ever gathered, com
/ pairing with 1853 $4,000 last year and
{ $50 .297,0 900 in 1912. Total receipts at
/ interior points during the week amount
ed 20 about 10000 bushels, COM
pared with about 100000 the pre-
vious week and about 10,500,000 for
/ the corresponding week last year. At
! the same time interior shipments
! showed a falling of Of about $50, 1000,
| and clearances from Atlantic and Gulf
| ports decreased nearly 100000. This
was thought TO point to good in
crease in the visible supply to-day.
Some selling was caused by the intro
duction Of n resolution in Congress
providing for the suspension Of the
American import duty Of 10 cents on
wheat, which would it was held, admit
Of big shipments Of Canadian TO this
country, but when il is remembered
that the Canadian crop estimate Is for
only 1is,000,000 bushels, against 49,
100000 last year, and that England will
naturally have the first call on Cana
dian foodstuff supplies, that bear argu-
mont loses much Of its force.
Corn has held steadier than wheat,
, as a rule, although its prices have been
affected by the fluctuations in the finer
grain, as we'll by the rather bullish
government report. There were gains
In the late transactions. partly due to
a falling off Of about 100000 bushels
in the interior receipts and a freer
movement in the Argentine. causing
lower prices in Liverpool. There is
good reason for hrmness in the corn
market, as the estimated crop. $685.
100000 bushels, is much below the
needs for domestic use, which arc
placed at approximately 100000 900.
Oats have been affected by some
heavy selling on the part OF some who
recently bought for an advance and
became tired, but export buying served
to check the decline, and there was
considerable stcadiness in the late
markets Speculative transactions have
been large in Chicago, where country
offerings were small. The crop, esti-
mated at 1.116,000,000 bushels, will be
the smallest since 1911
There has been considerable falling
of in the export demand for flour,
ard the general market has shown less
activity. Mills, however, have as
lule declined to make concessions. and
buying in the local market has been
of q hand-to-mouth character. The
production last week at the three
Northwestern centres was 4O4,965 bar
rels, against 50l,4l0 q week ago and
344, $40 last year
Closing Cotton Stradiles.
An element of strength has entered
into the cotton market through the
operations of the joint committees
plan for closing out the heavy strad-
die differences between this market
and Liverpool, as the complications at
tending these deals have been held IN
q measure responsible for the delay IN
reopening the exchange for business.
The movement 90 far has been small
hut it is regarded as a start. With the
progress of harvesting, the pressure
on the banking and storing accommo-
dations of the South are becoming
heavier, and although the various
plans for the relief of the planter are
living much hope. there is little doubt
that hard work will have to be done TO
Prevent large quantities Of distress
cotton" being thrown on an already
weakened market Mills are holding
off their purchases in the hope that
chcaper cotton will rule, and the heavy
stocks at Liverpool, which have hard
" been touched in the last week owing
TO the slackness Of the Manchester
cloth and yarn markets, shut on an
outlet for the large quantities usually
skinned Mt this season, and add ma
terially to the load to be carried on
this side of the water.
The local exchange is formulating
MANS for doing business under the new
regulations provided in the Lever law,
and there is considerable anxiety IN
the South over the question as 10 no"
soon the exchanges will open lot tut
IRE business. Spots are quoteo IN sew
eral places in the South AT varying
prices below the Scent mark, ana WIN
The cost of cotton production running
from 10 1914 cents, it looks as II
| tbero was disaster ahead unless some
method is provided for the farmer to
! hedge his present apparent loss by
Gales of futures. II is understood that
| Memphis will resume the publication
of spot quotations to-day, and the san
! Antonio. Tex, Chamber of Commerce
has come out for a speedy opening Of
the exchanges Ito establish market
and secure uniform prices" In the
meantime the "buy-a-bale" movement
NAV help Il little in taking care OF
some of the distress cotton but at
the best it will be only small portion
of the 100000 bale crop awaiting the
pickers and ginners. -,
Cotton goods markets are steadily
weakening as a consequence Of the low
Lrices at which cotton Is being offered
In the case of wide print cloths, there
appears to have been an overdlscount-
ing of low values, and sales have been
made at increases of one-eghth Of a
cent ward for some constructions that
were sold very low in the early part of
the week Sheetings that are sold un-
branded to the manufacturing trades
have dropped appreciably, and are now
in line with the values current for
print cloth yarn goods. Fine gray cot
tons are less active. The tight money
markets are having the effect of re-
strictng operations in many directions.
and buyers who feel quite confident Of
some values in the markets are unable
to operate in a free way. Colored
goods of nearly all descriptions con-
tinue TO hold firm because of the diff
Guilty in getting dyestuffs.
Coffee Weak and Lower.
Trading in coffee has been depressed