South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-06-17
Weekly Review by
Thomson & MCKinnOn

STOCK-This was a typical half
holiday market. Volume of business
was moderate. variations in price
unimportant, and while there were
few slight recessions recorded, the
undertone would hardly be called
unsatisfactory. Railroad stocks con-
tinue 20 display steadiness and are
likely To develop into "A broad mar
ket as soon as publicity is given to
the decision of the Interstate COM
merCe commission. At the existing
levels the motor stocks also show
satisfactory market position and
while there is no big investment de-
mand for these stocks there is an
absence of pressure and a fair pros
pect of Improvement. especially
since more recent reports indicate
that business i'm this line has not
been as poor as earlier reports in
dicated. The important branch of
the market at the moment. of
course, is the industrial list. The
companies are enjoying unparalleled
prosperity, and with the vast ex-
penditures 10 come from the new
government financing. a continual
ton of large business may be look
ed for and the future Of the shares
merely depends on "A re-anounce-
ment of freedom i'm lOanable funds
The general situation is bullish and
warrants ultimately higher prices.
-
mate today showing an improvement
of barely I percent i'm condition for
the half month since the last gov
eminent report is exceedingly disap-
pointing, the impression prevailing
that with the improved weather in
the south better showing should
have been made. This, coupled with
reports of the necessity for moisture
in the southwest helped to revive
bullish sentiment. and a demand for
contracts again found the market
bare Of offerings. II is well TO bear
i'm mind that while the price is high
there is no particularly bearishness
in the situation. The main element
TO be considered is the markets
technical position. The recent liqui-
dation causing a reaction of cent
pound may have sufficiently i'm
proved the markets position 20 war
rant a further advance This. of
course, will depend somewhat on
weather news over the week end
We hesitate TO express a firm opin-
ion at this level.
WHEAT-"Daily Trade Bulletin"
estimates 61.OOO.OOO bushels Of old
wheat remaining foT export during
June and carry over on first OF July.
These figures are arrived at by re-
ducing the estimated amount for
home consumption. this being fig
ured at 475,OOO.OOO bushels. Flour
trade reported very slow in Mime
apolis local mills closing down. in
terror mills out of the market. Pre-
miums for cash wheat cents low
er. Sample Of new wheat from
oklahoma testing 60 pounds and Of
fine quality was reported being
shown i'm Kansas City market.
CORN-Eastern houses bought
September corn early, which, with
reports of good overnight sales 10
Holland. induced further short COW
ering and some reinstatement Of
holdings 10y larger locals. The ad-
vance met considerable opposition.
based on prospect Of improved
weather, weekly forecast for clear
weather and nominal temperatures.
Export bids are reported at south
west and interior points az equal 10
prevailing market. Strength shown
in the July i'm the southwest. St.
Louis being $3.50. Kansas CITY
$3.50 I'm the latter market accu-
mutations decreased for the week
100000 bushels; total now $4,000
bushels. We anticipate further
pressure upon the new crop futures
i'm the event of continued favorable
weather but il seems rather prema-
ture 10 make the new crop for the
producer at such extreme discounts
under the old corn
Eastern houses and cash
handlers were again noticeable on
buying side of July oats. Market
was responsive under light oner-
ings but toward the last week end
realizing appeared. There were p.t
indications OF export business and
New York reports 100000 bushels
cash oats strong 20 21-2c higher
PRONISIONS-Shorts were COW
ering in hog products owing to
strength I'm hogs.
THOMSON & McKINNON