Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1914-08-04
The Couriers Complete Markets of the World

hausted. Receipts for the week aggre.>
gated 6 cars, as compared with cars
for the proceeding week. Withdrawals
from public elevators were 1875 bu
and from private warehouses no cars
and no bushels.
Regular wheat closings were at adj
vances OF SsM3Ac for the week. The
most sensational market ever seen In
the Chicago wheat pit was In evidence
during week just closed. Wednesday
was the banner day. The war scape
was probably the leading "hullish' fatr
tor. but in addition to this were the
sensational crop losses in Russia'and
the marked deterioration in the wheat
crop promise in western Canada The
gains on Tuesday were as much al
0Ac. Crop losses in Russia will NO
doubt drive the export trade Of thai
country out OF the business for time
at least, with political conditions set
for sale because OF the losses which
center mainly in Saskatchewan, but
which are said to include all Of the
prairie provinces. When the fact II
considered that spring wheat losses IN
Russia are 512,000.00O blu, compared
with the crop Of last year. the situation
may be called quite strong In addition
to tho spring wheat losses In tie
cars country there have been heavy
losses there of barley as We'll as s6f
oats. These conditions place the Amer.
lean farmer on footing which may
be called more solid than In years The
unexpected has happened In specula-
ton. Instead of the American frr,,sFs
marking their wheat down from daysto
day, they called a sharp nait On tse
selling movement. and they are now in
possession Of the worlds breadst.fff
market. with politics almost settled.
With crop Of 100000 bu. and pos
sibly more, conditions point to lLwEr
prices. The war helped the farmers "
the United States no little early In the
week, and in case of the general mix Up
Of the powers of the old world there
is no telling as to the size Of the atl-
vance In values before the upturnsIs
checked. On the sensational advance
of last Tuesday there was heavy sell
inc by concerns with profits and every
pound Of wheat thrown into the 81
was qnicklv absorbed by shorts In
order for the wheat trade at Chicago
to regain it's balance. there was some
talk on Wednesday OF closing the fl
ture trading for the time being, or UNI
I'll conditions were better. not only IN
the market at Chicago but abroad as
we'll Some foreign bourses closed tenn
porary to give their members chance
to audit their accounts und rernr1 ~,
their exact standing In the financial
WorlG. Nhllo crop por.s wee !, a4ssl
some attention during the early days
of the week, they We're brushed aside
not unlike SO much chaff when the
war news put In an appearance. There
are large quantities Of wheat sold Ia
so out Of the Chicago market. aud
there are large quantities to go out ~
the seaboard markets. Montreal Is loaf
! ing large number Of vessels with
wheat for foreign shipment The mar
kets of the old world have ruled stroRa
under heavy buying Of cargoes and
parcels off the English coast. and TIE
continent has been the best buyer or
wheat 1t is feared by some In the
| trade abroad that the importing coun-
| tries have overbought themselves fcY
the time being and that there Ia like
" to be seen decline in conseQeun4A