New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-06-22
COURSE OF WEEK
in COMMODITIES
Grains, Cotton and Coffee
Close at Lower Price
Levels.

or wheat was made plainly apparent
Bearish sentiment was In control every
day. with but one exception. when some
heavy export trading caused showing OF
frmness, but tho check was only tenn
porary. Complaints from several foreign
countries over the extent and condition OF
their crops indicate that demands on
American supplies from Europe will con-
tinue large, In the face Of purchases OF
July wheat amounting to 100000 BUSH
els and predictions that the total for
July. August and September will aggre-
, gate 100000 bushels. This Is counted
on by many dealers to check any further
material decline and II is pointed out
that any large reduction from present
prices will place corn at q premium over
wheat, and that farmers, under those con-
dltions, will find II more profitable to feed
wheat to farm animals than the coarser
grain Another factor to. be considered
is the tact that worlds supplies are now
down 30 about lis. 900, 900 bushels. against
l45, 900, 900 bushels a year ago. and that
the influx Of new wheat to the home mar
kets will find the left over from last sea-
son down almost to the vanishing point.
Receipts at Western points have been
small. and with large consumptive ship
ments further big decrease In the worlds
supply Is expected to be made known In
Mondays figures. The present spot price
of new No red, 91xc, Is 1Shc under
the price a year ago, and shows decline
from 81 0Sh on May 20.
Corn has held comparatively steady, al
though there was rather sharp break
early in the week under free sales by a
large Western holder. Tho decline devel-
oped enough demand to steady the mar
ket and With that exception price changes
have been within a narrow range, al
though tending downward. Shipping de-
mand has been small, crop news gener-
ally favorable and some business has been
done in Argentine corn for first half OF
July shipment at Sc cents. Complaints
have been received that 100000 bushels
of shelled corn at Chicago are IN doubt
full condition and that some cars received
from Iowa points are heated. This has
affected the demand. but not enough to
change the course Of prices.
Oats have shown few changes either
way, shorts have been nervous at times
and disposed to cover, but In spite OF re-
norts of damage to the crop by rains
selling has been general, with the cash
demand hardly more than moderate Inc
impression is general that the crop Is go
ing to be heavy, even II there Is some de-
terioration between now and the harvest.
II is noted that while No 2 mixed corn Is
lOHc higher than the figures Of year
ago. oats show declines Of only 112c. the
net drop in the last month being only
half cent.
In flour there has been symptom OF
easiness In prices, credited to desire TO
stimulate business in the Eastern part Oh
The country. New York trade IN the ex-
port hne is suffering from the cheaper
rates via Gulf ports. and Southwestern
mills are said to be selling considerable
quantities to Europe. Home buyers con-
tinue their policy Of taking only for i'm
mediate needs, as they expect consloer'
able reductions when the wheat crop be-
gins to pile up in the elevators
The Break in Cotton.
The course Of prices in the cotton mar
ket has shown. how completely the weather
has dominated the situation. Copious
rains through all but small poruoh u
the belt relieved the tension caused oS
| fears of the crop being irretrievably dam
aged. and prices began to slide DOWN
uard eliminating in q break which car
risd the December option nearly S3 on
hale below the high Of early In the month
and leaving the market weak IL Is car
culated that with fair growing weather
from now a crop OF 100000 bales Is
ukalv. even IL the government report Oh
.July I fails to show any increase III
acreage. One cause OF the decline now
ever. was the heavy overbuyins OF the
market a week ago by bullish speculators
and local traders. The address OF OH
Charles NIAGARA before the Internatioha
Cotton SINNERS Committee In Paris ~as
extremely pessimistic regarding traoe
conditions and his plan for preventing
heavy losses to both employers anu CHI
ployed was to organize prompt ana OK
tensiye restriction Of production OF manu-
featured goods. On the other hand' cur
,ai,m.nt of production in yarn and ciotn
centres here is likely to bring ABOUT
scarcity that will be felt before the ne"
crop comes to hand.
while trade was moro quiet In COTTON
goods during the week, the market heio
steady, and jobbers did a good business
In cloths for immediate shipment lhis
was particularly true OF printed WASH
fabrics of a sheer character, tho ouyins
of which reached proportions not toucheu
in many years. Gray goods markets were
quieter and there was some easing IN price
on a few staple constructions. Tine inner
warn goods showed more activity, ano
Iarger sales could be made IL mills wouio
accept current prices. Duck continued
slow and heavy duck was easy. Some oil
the lighter weights were we'll conditioned
There was a restoration Of old prices on
bleached cottons and branded goods are
we'll under orders for delivery in the next
sixty days.
Coffee Quiet and Lower.
rhsre has not been much doing In the
local coffee market, but the trend oil
price, has been downward. partly owing
IN liouidation sales by tired longs and
nartly TO easiness in foreign markets. In
cIndine Brazil. Fluctuations have not
taken a wide range, however. and the
trade is really only marking time. await
ing developments regarding the situation
IN Brazil. There has been no scarcity oil
receipts at primary points, but nothing
sensational has occurred. The local spot
trade is inactive, and the announcement