South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-04-29
LOCAL AND FOREIGN MARKET QUOTATIONS.
Weekly Review by
Thomson & MCKinnon

C4OAF W IN the wheat anu
corn selling at the prices they are,
it seems futile 20 talk about a bull
market in stocks because il shows
that no matter whether we
choose 20 realize il or not al
home. serious conditions pre-
vail over the whole world The OPP
timism which always comes after
five or ten point rise and which
came the day before yesterday has
petered out. Utah which looks TO be
accumulated for some large interest
probably Kennecott loaned at a
premium and the shorts have been
pretty we'll run in. If we have a
short period of extreme weakness
We will get a further rally and
everyone then will tell you that it is
real bull market.
COTTON-After a rather uninter-
esting opening. and some easing in
valves Immediately thereafter. the
demand for contracts again develop
ed. and the close was at a substan-
tial gain over yesterdays final fig
ures
There has been no material change
in the news today. Weather condi-
tions do not show any important
seasonal variations. while in the spot
markets. strength has been in eyi-
dence. The report issued by the
leading dry goods houses Of the
country, indicates no slackening in
the demand for merchandise dis
tribution being large. Future orders
are in excess of a year ago, and
collections good.
Crop news will be in doubt for
some time, though there is sufficient
| information before US now TO lead
| 10 the conclusion that the acreage
, will not vary materially from last
| years figures. We see nothing at the
moment TO warrant a change in our
opinion. and believe the prices will
gradually work higher.
Beyond unreasonable
temperatures and wet weather. there
was no news 70 account for the
early action of wheat Demand was
widespread with extreme difficulty
experienced in buying owing TO alb
sence Of offerings. Nothing has been
heard from the seaboard or from
western markets as to foreign de-
mand. There appears, however. a
continuation OF domestic milling
demand, 5000 bushels of our old
winter wheat Of the most undesir-
able selling at II cents over May
| in store. Chicago millers are follow
ing the policy adopted by those I'm
the northwest, and are Offering flour
for September delivery at $3.50 un-
der spot A selling movement was
started by announcement from Win
nipeg that no new commitments
would be permitted This action was
prompted by statement of the Brit
ish commission 10 the effect that
their immediate wants had been sup
piled and that their buying was not
responsible for advancing prices.
Items on news of every sort were
ignored Larger local operators are
avoiding new commitments of any
sort. The market is therefore left TO
scattered outside trade and moves
sharply without any particular IN,
centive. We deem II likely that a
SOLDERING down from the present de-
bauch and a few moments Of sane
thought will convince the trade at
large that prices for new crop flu
lures more than discount the un-
favorable winter crop condition as
published by the department OF ag-
riculture.
CORN-Although new high prices
were made in corn futures. trade
has been very limited. strength gain
ed entirely from wheat one of the
leading cash houses was a persistent
seller Of the May future. Cash hand
lers claimed 10 see an easing in spot
market. Car scarcity remains prin-
cipal reason for premiums.
OATS-Seaboard houses were buy
ers Of oats and bullish sentiment
was running strong because OF the
action Of wheat and corn. Weakness
toward the last was in sympathy
with other markets. New crop fu-
lures met considerable opposition
throughout the entire day.
PRONTSTONS-GoOdly volume Of
trade i'm hog products. strength de
rived from grains. 1850. hogs. clos
ing unchanged but weak This week
receipts. 14O.255.
THOMSON & MKINNON.