The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-08-29
ENGLISH COMMISSION
TAKES RADICAL POSITION
tnruo COnsiEncd In British Bottom to
Neutral Port Mny lie Com
sfdcrcd Prize.
Special to The Times Dispatch. ]

Special to The Times Dispatch.l
CHICAGO. August 2S.-The commits
sion appointed by the British govern
ment to handle cargoes OF grain
shipped from the United States 10 va
rious foreign ports during the month
OF July. which were seized or diverted
to English ports. has taken a very
radical position. 1t wishes TO make all
carYoes prizes. even cargoes that were
originally consigned to Rotterdam No
idea prevailed that a cargo of wheat
consigned In British bottom to a
neutral port could be considered n
prize. This uncertainty is probably
ono OF the reasons why a cargo of
wheat has been sold within the past
twenty-four hours by 4 foreign buyer
in a neutral country To an American
exporter at a price great deal below
the prevailing quotations. Many Of
the largest exporters consider the sit
uation SO serious that they are refus-
INK to make offers under any condi-
tons. The result is that the bulk OF
the business Is being done bv foreign
houses, who have American branches
There are still enough old contracts TO
the United Kingdom and TO France
against which sellers are obtaining
funds in this country to make the
clearances large probably for another
week. The difficulties and risks besct-
tinC the exporter Will md expression
country.
The wheat market declined IS to
3-t cents to-day There WAS lulI
IN the buying. while longs endcavorcd
I" secure profits because OF tho fact
that profits are melting away RAPIDLY.
Country offerings Of wheat were small
"r because OF the unfavora ble weather
in some sections but the rains have
been favorable TO blowing. In addi-
1ion 10 the selling by longs there was
more o. less activity In the way of
putting out short lines by the old-timc
bear crowd The wheat market was a
tame affair when compared with pre-.
vlous days Of the week. The cash ar
ticle declined TO cents in the
southwest and West. and Minneapolis.
81. Louis and Chicago reported the
flour market lcss active
There Was less strength shown at
Liverpool where wheat futures closed
I'd lower The export clearance. of
breadstums day were large at J..
36S.ooo bushels. and for THE week they
were ?,397.oo0 bushels compared with
bout 100000 bushels each for last
week and last year
General rains over the corn belt
giving promise OF Improvement in fan
pastures and forage crops. and pre-
sumably beneft'ng late corn to some
extent. coupled with the break In
wheat, caused free selling OF the yellow
stons and resting spots were IFS TO
5-s under Thursdays. final hgures
one OF the foremost OF the local crop
experts sent in better reports concern
ing corn conditions in Missouri. say
ing that the general crop situation
there was not had as he had cX-
pected, and that there are many fields
sim green that We're benefited by the
late rains. and will make almost fun
Croo. Cash corn here WAS to cents
lower. while southwestern markets
showed even greater declines.
Heavy liquidation marked trading in
cats early, and prices were carried
sharply below the previous resting
spots However. there was considera Die
reinstatement 10y longs, who took
profts Thursday and some outside in
vcstment buying, which lifted values
substantially over the low spots and
closing figures were only IS TO SIS
cents lower than on the previous ses-
sion. Expor; business was reported
sood in some quarters. and poor In
others, but sales or 10000 bushels
We're reported from hero. while IT was
said that about 100000 bushels went
out via the Gulf.