South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-09-09
WEEKLY REVIEW BY
THOMSON & M'KINNON

STOCK.-Old king bear continues
TO occupy his throne with apparent
comfort and safety. From time TO
time, attacks are made on Particu-
lar stocks for the purpose of UNI
covering some weakness. Today
Bethlehem steel and General Elec-
trio were the principal sufferers.
The impression on he rest of the
list. however. was only temporary.
and very moderate in extent. The
market acts as though IL is scrap
ins hc:torn When raids are made
and outside sellin. does not follow,
it is apparent that liquidation must
have run its course. To reverse the
position Of the market and brmS
bout "A rise, will require an affir-
NATIVE Development. and this
should come from washington in
the way of price announcement.
The one danger 20 the market at
the moment. is that the public are
being educated ur 10 the idea that
the price of steel is 10 be around
SIS Tins is an eXtrc mely hich
price and the official announcement,
eli AllOu-iA SdA l0l dNAOlN ~ EAtNl III
terestS. may prove disappointing 10
the public However. a severe de-
cline has taken place. The market
technically. is in the best position
il has been for a long time There
fore. unfayorable news viii not he
as effective The low price OF leadirs
stocks may have beer already estaa-
!isbed ard therefore the chances
would be decidedly IN favor Of the
buyer.
COTTON.-There were no new
developments i'm the market today
that should cause any important
fluctuations The weather has been
50 far, fairly satisfactory, but il
looks now as thoueh a period Of
unsettled conditions may prevail
This would of course interfere mas
teriaIv With the picking and mark
citing of cotton Todav's ginning
report. while smaller than last vear.
is not Of significance. except 10 show
that tempe natures have been sea
sonlble and that therefore prema-
ture opening of bolls was the eXcep-
ton. rather ghar the rule spots
are hell- rev l>tu. AIbAdLlDilc ~
New Orleans being reduced 80
points. but are still out OF line
Futures at the close tonight are 100
points below spots therefore We
must either have a substantial rally
in the market 1r further decline
i'm the price of spot cotton. This
viii iepend upon spot holders. We
are rather inclired 10 think that
The drastic decline which has taken
place shere will be a degree of OPP
position shown ny spot holders and
that therefore on weak markets
from now on. il may he we'll TO
buv a little cotton.
CORN Rains i'm central portion
oc the corn belt and low tempera-
ture of northwest, together with
sppearance of the CoIdest wave OF
the present seasor in the British
northwest. made shorts timld. re-
sulting in a scarcity Of oherinss
with a General demand. There wss
reversal ~ conditions M the inn
mediate last under The weekly fore
cast. which predicts fair anu mod
eratelv warm the forepart Of the
ward the last Samples o. new
corn shown today. some - them
FAR advanced En- condition. Note
worthy feature is tho wonderful
quality elimination of the short
interest by the advance this Week
veakens the position of the market
materially
pATS-Thcre was belated short
covering .n Oats in i0eral ~oiume
Market encountered Increased o.
fernes from some of the larger
cash laruler~ as we'll - from coun-
rN houses Export bids we're ado
ea.cel Ia cents relatively The
advance in values increased offer
ues from the coantry TO "a conside--
able extent.
We are unable 90 discover anv
valid reason fer anticipating a
ma .utaineJ advance.
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