New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-04
COURSE OF WEEK
IN COMMODITIES
Grain Prices Declining
Cotton Irregular-Coffee
Dull and FeaturelesS.

for the last week. ana the sagging Ten
dency noted in the early trading con-
tinued. with slight reactions. until Just
before the close. The prediction Of James
A. Patten that the crop would be s0oo,oo
bushels, with 1000, 900. 900 bushels . posi-
bnlty was in limo with the opinions OF
many other dealers. who think the COM
ing crop will be the largest ever gath
cred These optimistic views wers backed
up later by reports from Kansas and
Nebraska, the latter state making an es-
pecially fine showing. One OF the checks
to the early decline was the big decrease
In tho visible, which included drop In
the North American supply OF S,7So,Wo
bushels, with 5,712.00 bushels less reported
on passage. making a total OF u.A2,oo
bushels. Late In the week the May pre-
MUM widened little, but the distant
deliveries were a triie easier. Export
trade has improved. On Monday to,oo
bushels OF Manitoba were taken. followed
by 10000 on Wednesday. and II was re-
ported on Thursday that 10000 bushels
in all positions had been sold for export
There is a general feeling that calls VIII
soon be made from Europe for wheat IN
larger quantities to provide for future re-
quirements. and many conservative trad
ers seem to think that July and Septein-
Der are at too big a discount compared
with May Argentina exports have fallen
off, being more than 5c.cco0oo bushels less
since January than for the same period
last year.
In corn there has also been irregulartty'
with fluctuations which indicated active
liquidation on both sides OF the market
and tendency downward. Late In tho
week there was flrmness and an advance.
based on the fact that Argentina ship
ments were practically at standstin
owing to the heavy rains, which inter-
/ fered with shipments and damaged the
! crop. The effect OF this condition was 70
/ cause heavier cash demand In Chicago.
with the natural reaction on prices. 1t Is
noted that corn has not shown the weak
I ness noted in wheat. although the price
OF No. 2 mixed mere is about IS cents
/ bushel higher than IL was year ago.
Heavy deliveries of May are said to have
passed into strong hands. closing markets
both abroad and here were firm and last
| prices OF the week recovered some OF the
earlier drop.
Competition with Canadian oats has
caused q decline In the prices OF Amer'-
can oats, more than 20co.oco bushels
being cleared from Fort William between
| April 20 and April Is. There was little
bulge in prices early In the week, but the
late trading came back to about the level
OF the previous week. with last prices
armer. on a better cash position In the
West.
Flour has continued quiet, and u Is said
that the depression In wheat has had
some effect on mills, but there has been
no general reduction, although the wheat
crop prospects have strengthened buyers
in the determination 10 do nothing moro
than supply immediate and pressing
wants at present prices.
Cotton Declining.
Irregularity has marked trading in cot
ton. with an advance carly in the week,
due TO some Southern bulls making an at
/ tempt to put prices on a higher level
D
disposition to take profits was shown
and then there was collapse, the gain
being more than lost, with July showing
a break of Al points from the close OF
May %. The May deal was the principal
feature of the week. notices for about
10000 bales being sent out on the hrst
notice day, followed by about 1000 more
later The tenders came from spot hrms
said to control the larger part or the GER
tidcated stock here, and while notices
were stopped by some large firms. II was
generally believed that the cotton would
be taken up entirely for speculative pur-
poses. There were reports the Southern
mills were taking supplies from local
stock, but they did not AFFECT the market
II was noted that there was plenty or
better cotton I'm the South than tnat IN
New York stock, and that the bulls we're
playing a doubtful game II they shipped
cotton from here to Southern mills for
spectacular purposes Reviews or the Dry
goods situation indicated no particular
change. There was more activity and a
frmer tone 10 the market for cotton
ducks. which was credited TO antlcipations
of a government demand, but there seems
to be more talk OF curtailment in South
ern yarn mills, and operators are inclined
TO proceed conservatively.
Coffee Dull and Easier.
Trading in coffee futures has been light
and prices have had downward ten
dency. although there was a slight ad-
vance I'm the last trading, due more 10
week end covering on a general absence
of selling pressure than 10 any other
cause. The market has practically been
marking time. as is TO be expected at this
between-season period, whe" the consuin-
ing trade is awaiting offers OF new COZ
fee and operators are trying to get lins
on DEVELOPMENTS in connection with the
early movement Of the crop. There is not
likely TO be any material change In con-
ditions or prices until something denn'to
Is known as to new crop shipments
In the country produce markets there
has been an absence OF marked change In
any line Large quantities OF supplies
haye come TO market from the South.
which have been too poor 10 find an out
let ard this has tended to depress prices.
I'm, this depression has only been noted
in quickly perlshable stun. Staples have
held their own, especially when OF good
quality. Butter. cheese and eggs are AZ
about the levels OF last week, but live
,ovvls have declined, although the dressed
81. n