South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-07-01
WEEKLY REVIEW BY
THOMPSON & M'KINN0N

" n IA I- reports OF large yleldS
/ 81 winter wheat are increas-
ing Weather over the spring
wheat region is little more favor
able Arrival OF hrst car Of new
wheat is reported in Baltimore sell
ing at S215.
CORN-As was expected, moder-
ate liquidation appeared in corn at
the opening Larger shorts in the
July accepted the opportunity and
were taking with pronounced
strength in cash corn. together with
i advices of extreme heat over the
3 southwest. Temperatures well over
100 were reported yesterday with
early morning indications Of the
! anne condition today. Irregularity
/ OF the growing crop and enormous
discount for the December and Nav
makes these futures very susceptible
/ 10 unfavorable conditions. Cash corn
made "A new high mark. exceeding
| the previous record by one cent. OF
| ferings were limited and a portion
| of the demand came from shippers
! VINO were endeavoring TO nh June
! contracts. IL is 10 be noted how
ever, that bids for go days ship
nent we're advanced cent 10 s
\ cents over September. Inasmuch as
these extreme bids for long time
| shipment meet with poor response.
\ there seems no logical reason for
/ anticipating any weakness in the
/ July or September futures
OATS-identically the same con-
/ ditons existed in oats as in corn.
July shorts covering and the entire
| market responding &c heat south
west and still further strength in
/ cash grains. Seaboard notes contin-
uation of the export demand. esti-
i mating yesterdays business at 500
/ 600 bushels. Demand was also in
this market, 200, 600 bushels sold TO
the seabOard at higher premiums
] than recently. II is not likely there
J will be any deliveries of oats or corn
on Monday next, owing TO the pre-
| miums existing. In addition TO the
/ export demand there is a belief on
/ the part Of many larger operators
| that the new crop price is decidedly
| lower than will meet with the views
/ OF the producer.
PRONISIONS-In anticipation Of
/ free deliveries of lard Monday, many
scattered holdings came on the mar
ket Packers brokers were moder-
| ate buyers at the extreme inside, but
in a broad way the support was
| poor.
Receipts. 5000. steady, to
| loo lower
! COTTON-Crop conditions have
been slightly more favorab BILE. with
rains where needed in a great many
localities Many points in Texas had
rain Map indications are for part .
I ly cloudy and scattered showers in
! the belt with increasing prospects
of rain over Sunday. There is am
pie time for the plant 20 improve
should weather he reasonably favor
able. The latest private report on
! cotton is a little more bearish than
| those heretofore noted IL makes
condition 7O.2 VS.. 70 last month and
79.1 last year. with the acreage 2.3O
less than last year.
At the present level, the govern
ment report would. OF necessity.
| have 10 he very bullish in order 10
| bring about any sharp upturn. The
! market today was less violent in
| fluctuations. We are still of the
opinion that purchases should not
be made except on severe breaks.
The long delayed decision of the
! interstate commerce commission Is
! now before the public. That II was
great disappointment is self evi
! dent The eastern roads are bene
fitted by the decision to a moderate
extent. the advance in rates being
just about enough 10 offset the in
| crease in wages resulting from the
recent wage law enacted by con-
| gress. The effect OF the decision on
the market was not as serious as il
| might have been, due entirely 10 the
small public interest in railroad So
curities. The investment public
seem 10 have been guided by an
intuitive feeling 70 refrain from this
branch OF the investment market.
The future is not easy 10 forecast.
Stronger roads will no doubt he able
20 get along until such time as low
er costs OF commodities and wages
shall help them out on the net re
suit. The weaker roads will re
quire assistance. and will no doubt
he entirely neglected by investors.
Attention will now more than ever
be centered on the Industrial list.
where reasonable opportunities are
present for profitable operations.
particularly in the various steel and
copper issues. Here stock values
are not inflated Based on resources
and present and prospective bust
ness and profits a higher level Of
values in these issues seems 10 be
justified
THOMSON & McKINNON.