New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-09-28

MheAt market, With no haetuAtloas Of
/ importance IN futures, ThefS was
ssme heavy. export buying, which bad
We erect whom set aRainat small eoun.
w offerings of making che weeks In.
sIeess 10 the available supply only
otv'UVV bushels, against 90 increase IN
tne same FeOk last gear Of i,sTa,o00
bushels, While Ut the same time The
shea9t eheat on expert vas II ,B6e, 00o
bushels, against 2o,tses0o0 = yseF ego,
Lheee hBufOu were fespenslble Tor
checking what would otherwise have
been 4 decided break In the market,
end shorts we're further snoouraRed By
some small hfTlvAla Of new corn. There
In q growing feeling that the Afneri-
can crop 10 going TO be much larger
than had been expected, and the elos-
| ING price OF spot No. 2 mixed here,
04hc,, shows q decline from 90Ac. q
month ago and Is only &c, above the
! price 4 year ego.
There was q good export demand for
oats, sales Of 100000 TO 1000 900 bush,
| els causing no particular comment, and
| James Pstten Is quoted as saying that
the foreign demand Is likely 70 abb
sofb all the American eKportablb sur
plus. As with corn, country offerings
have been small, but the available in
! CREASED 100000 bushels for the week,
against AN increase = year ago Of e.
| 100000, with the available stock 3l,'
100000 bushels, against 42g47S,OOO .
year ago. One feature Of the market market
was the. reported sale on the Pasihc
Coast OF 100000 bushels to tina Phil.
| ippines. The LEGAL spot market closed
at 53kc., against 52Ac. q month ago,
aud 47he. at this time last year.
Only fair amount of local trade In
-four has been put through, with some
! export inquiry, shipments from all At
lantic ports in the week, including
| Canada, aggregating S04,19I barrels,
| against 2b9,42B barrels q week ago.
| Portland, Ore. for the first time in
many years reports the loading Of vas-
sells with -four for England, and q st.
Louis sale Of 1000 sacks for direct
shipment to Scotland has been noted.
! The production at Minneapolis, Mil
waukee and Duluth for the week Is
given as 462, 1925 barrels, against 402 sos
In the previous week and 4eb,2l5 a
year ago.
Spot Cotton Declining.
Tho resumption Of trading in spot
cotton at several Southern points has
been marked by declining prices, and
the price at which straddles between
this exchange and Liverpool have been
settled has also been reduced. This
has stimulated trade slightly, but the
whole situation Is still under the cloud
Of a lack Of definite markets fer future
deliveries. Plans for opening the ex'
changes are of as much Importance
TO the trade az to the farmer, as
plans for helping the grower out Of the
predicament he Is In through having q
product for which the spot demand is
only slight and for which the value In
the future cannot be even approx
mateiy foratold.
There has been considerable discus
sion as to the effect Of the Lever law
on dealings when the exchanges reopen
and the Department OF Agriculture Is
cooperating with local trade ohicials
in an endeavor to fix things so that
there will be a minimum Of friction
when dealings are resumed. The vsri-
Gus sommittees have been hard at work
on the questions involved, and some re-
sult h expectsd soon. The "Buy-a-
Bale" movement, while spreading and
proving of some benefit, can hardly be
expected to take the piece Of the sx-
changes or the foreign demand which
called for 20 large q proportion OF the
crop, and the dificulties Of carrying 1t
much further, in the face Of declining
spot markets, are gradually making
themselves felt. The sentiment is
1oSd. but Il takes a lot Of sentiment
"a warrant paying 10 cents q pound Tor
cotton which, in the open market Is
I attractive to spinners at So cents
Members of the New York exchange
have started a wise move in the project
for a cotton clearing house, which will
30 a lony way toward minimizing, II
not entirely doing away with, street
failures and consequent losses.
In the Other Markets.
Coffee has been dull, and the trade
is in the dark as to when the exchange
will be reopened. War risks on car
Snss from Brazil are advancing, due to
tbe non-arrival of coffee shipped some
time ago, and in one case reinsurance
has been effected at rate which tig--
ures out at 1911 per cent. A report
was received here that Germany was
negotiating with the State of Sac Paulo
for the purchase of the states stock
of coffee at Hamburg, 100000 bags,
at the market. Prices here have
shaded slightly, owing to slackness OF
demand from roAsters and consumers,
although the worlds supply is consid-
erably smaller than 1t was year ago.
Sugar has also declined, and there IS
talk of a still lower level In the local
trade. Refners here are buying only
TO fill current wants. The country
produce markets have shown declining
tendencies even for the staples, such
as apples, potatoes, butter, cheese
and eggs, while small fruits and vege-
tables have at no time been overtirm::
Supplies have been adequate for all
requirements, and the storage houses
have received considerable surplusage
of goods which we're lacking in the
high quality necessary to command
prompt sale at prices satisfactory to
shippers.
Livestock and dressed meat prices
have remained at close to the levels
of a week ago, good TO prime steers
being from S5 cents to 81 hundred
pounds higher than they we're . year
ago, with q slight decline noted in
wholesale prices Of dressed beef, while
lard futures are lower, owing to the
drop In grain prices.
On the whole, the tendency OF prices
has been downward, and at present
there seems to be no warrant for any
material advances.
CHANCE FOR TRADE