Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1914-05-28


r. A. Ienockcr OF Madison county,
Iowa, Monday had SO steers and stays
of his own feeding averaging 140S lbs
which sold at $3.50 and averaged
S115.60 per head net. Mr. Lenocler says
this amount looks good on paper, but
the high price for stochers and the high
price Of feed leaves a net profit rather
small for the feeder
Sentiment among wheat aders was
bearisl last night. While most of them
are looking for lower prices eventually,
they do not expect much of decline
until the May is out of the way. 1t was
said that the local short interest has
been increased, and that any serious
crop damage, with an increase in the
buying orders, might easily start
bulge Most traders said they were un-
able to see anything but wet harvest
TO put prices higher. Those who watch-
ed trading in May said it was up to
1t7sc over July at one time yesterday,
the highest OF the season. The Armour
interest did the selling, while scattered
shorts were the buyers. Foreigners who
are long July and September wheat
were moderate sellers for profits yes
terday. Export houses here said bids
were " lie out OF line on new wheat,
and they did not feel very encouraged
over the outlook for business.
Corn traders who were bullish a few
days ago were on the bear side yester-
day because Of the increa sed offerings
from Argentina and at lower prices.
June shipment being offered at 67hc
and July at 67c New Yosk received
10000 bu Argentina Monday which was
shipped fifteen days after the rainy
weather started in Argentina. The corn
arrived there in good shape. Van Ness,
who had the message, took 1t as mean
ing that possibly the corn was not at
fected by the wet Gather at time Of
shipment. Bulls said 1t was too early
to pay attention to Argentina condi-
tons, and they expect the eastern de-
rand to take hold Of the domestic corn
for the next few weeks. Iowa and I'LL
nois sold corn fairly yesterday, but not
as freely as on previous days. Bulls
are talking dry weather, which the
bears consider rather premature.
Shipping sales of cash grain at Chi,
cago Tuesday were $4,000 bu wheat
100000 bu corn and 10000 blu oats.
Charters were for 100000 bu corn at
nc to Buffalo and Georgia Bay. Sea-
board reported export sales OF new
crop winters, but gave no quantities.
Sales to go to store We're 100000 blu
wheat, $4,000 blu corn and 100000 bu
oats.
Milling demand for cash wheat
showed Improvement, sales aggregat-
ing $4,000 blu here, and while there
was some business in other markets
details were not given out. A local mill
err paid 9shc in the sample market for
II cars of No. hard while New
10 I,
for 5000 bu No. 2 nard winter.
There was $4,000 bu hard winter now
in transit from Kansas City to the
gulf sold for export
Winnipeg said export bids We're NC
out of line. Prices at st. Louis were " C
higher on red winter and unchanged on
hard, while Kansas City was unchang-
ed to Nc lower Omaha 1ac lower and
Milwaukee unchanged
Blue stem No. northern at Minne-
sapolis sold at 2@3%c over July, and
velvet chaff at 1h @2c over Good No.
! northern closed about Nc lower as
compared with the July.
Elevator interests were In the cash
corn market for contract grades and
took everything offered at the high
est prices of the season, prices being
up Nc, paying 72c for No. mixed. 9th
err grades were unchanged, with fair
shipping call. st. Louis was &c lower to
with good sales on over night offers.
while Omaha was A@1Ac lower.
Peoria %@1Ac higher and Milwaukee
unchanged to Ac higher.
Cash oats were unchanged to 1c
higher yesterday, the latter on contract.
Shipping demand was moderate St.
Louis was nc higher to nc lower,
Omaha unchanged, Peoria A@Ac
higher, and Milwaukee unchanged to
1ac higher.
Free trade had exactly the opposite
effect on wool values to that. predicted.
Since January prices, both foreign and
domestic, have been persistently ad-
vancing. All that was accomplished by
putting this staple on the free list was
frightening domestic producers and
prompting them to liquidate, causing
has thus defeated the very object aim
ed at, reduction Of cost to the consum-
err. Nevada and Utah woods, contracted
on the sleeps back in January at ITO
13c per pound, have recently sold in
Boston at 20G22c, and freight did not
exceed &c.
Free trade has already curtaled do
meSC1c WOOL pTOQuCLlOn 20 per cent, ana
further liquidation is promised, espec-
iallyiby Montana, where the sheepman
is not able to cope successfully with
the settler. Tariff elimination will prove
as ineffective in reducing clothing cost
as did Taft's free hide panacea for
high-priced footwear
Rainfall in Iowa the last week was
considerably less than the normal, said
the weekly Iowa weather crop report
Conditions were favorable for field
work and the bulk of the corn has been
planted with the late planted germin-
ating quickly. Stand is good, but cut
and wire worms are doing considerably
damage in southern counties. A few
reports indicate Hessian fly is still ac-
tive in winter wheat.
Too many horses Of the wrong kind
is the handicap under which the mar
ket is laboring this week. No one ex-
poets anything like 1900 horses for
the week and then that number mater
ialized no one expected anything but
the sort of market that has develop
cd. Looking at the trade from one an
gle it would appear as though prices
were steady enough. but on the great
bulk Of the offerings there is no
strength at all, and more than likely a
big lot will be carried over the week