South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-06-30
REPORT Of BLACK
RUST ON MARKET
Advances at Opening Are Sharp
But Buyers Soon See Their
Mistake and General Un-
loading Follows.
BY JOSEPH ?. PRTCHARD.

CHICAGO June 80. - The wheat
market was an unsettled and irregular
affair Monday The early part or the
session was strong and prices were
higher on a report that was errOne-
ously circulated Of black rust in the
spring wheat country. A local crop
expert reported red rust and az the
conditions in the northwest were IA
vorable for the development Of black
plague there were some in the trade
who made the error % calling the red
rust the kind that Is death 10 the
wheat plant. The advances were sharp
and when IL became known that an er-
rOr had been committed there was
general unloading by early buyers and
sharp losses were soon in consequence.
Resting spots for the day were at
declines OF 3-S m rs.
Some uneasiness was displayed at
Liverpool because Of the cables re-
ceived from this side telling OF the
likelihood OF crop losses because OF
continued wet weather in the spring
wheat country. and Of the possible
development Of black rust. But prices
were up only is dS-Sd. Less favor
able adVices were received from Rus
STA and the shipments from that coun-
try were disappointing. Offerings of
new winter wheat from the United
States were smaller and shipments
from all exporting countries showed a
falling Off
Western. northwestern and Winni-
peg receipts OF wheat were cOnsidera-
bly, smaller than a year ago, but IL is
expected that the western receipts
will soon exceed those OF the cores
ponding time last year, owing 10 the
increased offerings OF the new crop.
A feature Of the market was decrease
OF nearly 1000 900 bushels in the Wis
ible supply, which has been reduced
10 10, 900. 600 bushels in round num-
bers. and this is less than half the
amount carried in the visible at the
time last year.
A Kansas official report as wired by
G. A. King and company Of Toledo
made the condition Of wheat 90 COM
pared with SO month ago and 63
year ago. The report says that there
well be about 100, 100000 bushels Of
wheat raised in that state on an acre
age OF s,S73.OO0.
The weather was cooler throughout
the corn country and there were many
in the trade who threw over their
holdings in consequence and this
caused price recessions for the day
of 3-S N ! 1-Sc. Commission houses
led in the selling. A message was re-
ceived from central Missouri saying
that the present month has been the
dTiest experienced in that state for
a. years. that the territory is short
I . inches Of rain since April I. The
Kansas condition Of corn was placed
at 1913. against So last June. There
were reported rains in Missouri and
Kansas. yet there was no relief in
southeastern Missouri or eastward
with the exception of cooler weather
referred TO.
oats followed the other grains and
showed losses Of u a 3-4c There
was selling by longs. while shorts were
rather slow in absorbing the offer
ings.
The early strength shown in the
provision market was partially lost on
realizing transactions. as well as some
selling OF lard by packers. There was
covering by shorts in July pork. which
was again n feature. The selling Of
this commodity was led by holders.
Close:
WHEAT-July. ~ rs; Sept. ~ IL
10 SIS: Dec. so 12 a SIS.
CORN-July. 6S to Is; old. 81 -;
SIS; Dec, 81 S-s to II; Dec. old,
81 "a.
oATs-July. 81 IS; sept. SO to Is;
Dec. 81 3-S.
PoRK-July. $2135: Sept, S2O.1O.
LARD-July, s1O.O7 -; Sept, $1O.-
%: oct. S1O.27 IL.
RIBS-July. S11.6O; Sept. S11.57 II
oct, St1.35.
WILL MAKE PROBE OF