New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-08-24
COURSE OF WEEK
IN COMMODITIES
Grains and Sugar Show
Sharp Administration
and Coffee Lower.


ket at the outset Of last week. but the
temper of the market changed vher
the visible showed a decrease. tho
export demand proved larger. the cx-
change market eased up a little anC
banks bought grain bills on the United
Kingdom and France. Strength Wa.
added by the uufavorable Canadian sit.
uauon. Tho decrease in the American
visible Of $4,000 bushels against am
increase for the same week last year
Of 2,s59o00 bushels. was perhaps the
most surprising development Of IN,
week, Tor the decrease iu the world
supply Of 2,2l7.00o against am increase
last year OF more than 100000. left
the world stock, while 120OOO00 less
than year ago, at least 100000
larger than for the same week I'm 1912
ne export situation lis the dominant
question, and the idea is general that
with war risks assumed by importing
countries there will be a sharp increase
IN shipments, which will naturally tend
toward higher prices. The movement
is apparently well under way. for the
weeks shipments Of wheat and -four
trom Atlantic and Gulf ports aggre-
gated 694l 900 bushels. against 3.276.-
600 bushels IN the previous week. A
tendency among growers of winter
wheat 20 hold their supplies was also
q feature Of the trade. and there is
increasing evidence that they are pre-
pairing 10 hold ont for top prices on
the grain still left in their hands. The
spot price for No. red At the close
en- Saturday was 81 0jit, against SOC
@ month ago. 95a4c q year ago and
81 rs, the high of 1913, on April IS.
Corn trading followed wheat in the
matter Of price movement, declines
early in the week being followed by
rapid rccoyerics, with asional recess
sions. but q generally higher level
There was some talk OF crop damage,
but late rains over most Of the belt
treasured those who feared for the sup
Ply The frmness i'm the cash markets
has been controlling factor, being
based on some foreign inquiries. The
carly depression resulted In q decrease
I'm offerings from the country, and when
the market frmcd up the arrivals
al primary points increased, totaling
for the week ended Friday night 1916
600 bushels against 2l5I0OO n the
previous week. The foreign inquiry
was reported 70 come from Holland,
and IL was also said that Denmark
AID Spain had been heard from. The
Argentine crop has had little influence
on the local market. although quota
tious have been made for carGoes az
lower figures. owing TO favorable
weather conditions. The closing prices
for spot 40. . mixed corn, 9Oesc, COM
pared with 79c a month ago, s4i4c
year ago and SEC, the high Of 1913, on
September 3.
Heavy buying Of oats for domestic
account. with an iusistent and lncreas-
ing demand from Europe has caused
frm and advancing market, with eN-
porters taking large quantities foi
rrompt shiument. Canada. New lea
land and the Argentine have been
Drawn upon by the British government
which has also been 2 prominent BIDDER
i'm the London market With foreign
crops smaller than usual, Canadian con-
6itiors unfavorable and the demand iol
the warning armies IN Europe almost
unlimited. the domestic market mas re-
eponded with o steady upward jIehd,
and there are statements that az leas'
Is 600 600 bushels were sold Tor export
I'M the last week. No. white showed
gain of more than 3 cents busnel
from the close Of the preceding Week
Flour also answered the upturn IN
wheat and while there has not been
.nv GREAT amount of business, some
mile have made sharp advances IN
nice AZ the same time discouraglng al
temDts 70 buy for future recurrence Is
10 any great extent. On the Whole ",
trade has been somewhat nervous ana
conditions generally unsausIac'oi y
The British government Is reported 10
be considering taking over me noui
mills Of the country and at the SANE
time preparing TO import hour iIeely
1rroeanolis has reported some large
saios Nashville sold 10000 barrels 10
Eow Orleans. Kansas mills made some
Inevv sales TO the East and New 1ort
,rss reDorted to have bid for 5O'O0u
LsrraIs az Evansville. Ind. with South
western markets very strong.
The Cotton Situation.
The week has been practically given
pr~to efforts 10 straighten out the
tarrled futures. hedge and straddle
situation. with no dealings in futures
and sDot prices only nominal, the eX-
change giving out no quotations.
Throwing contracts dealings over into
December for settlement on an agreed
basis has simplifed one feature Of the
muddle. but Southern hedges ageins:
the crop are still in the air, and the
enormous straddle interest between
this market and Liverpool has been
placed in The hands of a committee
made I'd of New York, New Orleans
and LIVERPOOL members, the three Tor
eicn members Of the committee being
on their way here This account is
nlaced AZ about 100000 bales, with the
short end held In Liverpool, which
stands 10 reap some big profits. Tho
conference to-day az Washington on
the question Of financing the crop WI.
undoubtedly have an important bear
ing on the whole subject, and while
measures arc being taken by the gov
eminent looking 10 the taking up OF
war risks and 10 increase the totally
Inadequate warehouse facilities at tho
South there is considerable regre'
in some quarters that the Lever bill
should have become law just at TINS
critical time. g,
Crop news as a whole is favorable
indications point 20 a large yield, and
as there will necessarily be large
owount Of cotton forced for sale as
soon as picking begins in any large
measure. the questions al stake are OF
30 vital a nature that their speedy and
satisfactory settlement is OF over
,gbelmire importance. Il is 20 be eX'
,oc+od that Great Britain will do every
,Liro POSSIBLE 10 hold her trade in
,,ernfactured goods, and the govern
ment has placed large orders IN Ian
rasbire for goods which will help &c
zen the mills running until supple.
can he increased. At the same time
American mill owners are not slow "a