South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-06-24
LOCAL AND FOREIGN MARKET QUOTATIONS.
WEEKLY REVIEW BY
THOMPSON & M'KINNON


was a short one. many anticipatirr
rather quiet market with A re-
ductiOn rather than an increase in
commitments over the week end
the days developments we're sur
prising. 10 say the least. Activity ana
strength developed early in Bald
win where a very important ad-
vance was scored, with the news in
| dicating that there has been. or is
likely 20 be change OF ownership
with stronger interests 20 be in CON
! troll from now on. The activity in
steel was more spectacular. the vol
Z ume Of transactions being on very
large scale and buying seemingly
concentrated. having a most cheer
/ ing effect on traders as we'll as on
the entire market. This stock should
/ be the logical leader in the upward
move that the market is entitled to
I The pessimism created during the
I past week by the fear of price fix
/ ing by the government is gradually
passing away. traders who have had
an opportunity 10 study the subject
no doubt coming TO the conclusion
that Notwithstanding material con-
cessions in price for the benefit Of
our government, profits. neverthe-
! less will be on a scale so large as
l 10 Justify materially higher prices
I for this stock As we'll as for all
other steel issues We continue op-
timistic in our views and believe
that all standard stocks should be
/ bought
New high prices were again es-
| tablished in cotton market Consid-
| ering how one sided the market Is.
the scarcity Of contracts and the
! difficulties confronting those who
would under ordinary circumstances
be willing 20 hedge against the next
/ crop, this is not al all surprising
The crop news continues mainly Of
/ a bullish character. In the south
west the crop is suffering for want
OF moisture, and though il is said
that are now good indications for
\ precipitation, the trade will no
| doubt want the actual realization
| rather than the anticipation before
selling With the prospect at the
/ moment Of only a moderate sized
crop there is no doubt but what the
world will have TO pay higher
prices.
WHEAT-Advices from Illinois
as 10 the wheat crop are quite fat
tering, fair sized WELD being shown
where none whatever expected.
Local crop expert covering Kansas
territory insists that the state report
issued yesterday is incorrect not
only as 10 ultimate WELD but as TO
acreage remaining. New wheat from
Illinois for July shipment was offer
ed in this market today at July
price without attracting buyers
CORN-The cash corn situation
seems 10 have been responsible for
the broad commission demand early.
in which larger houses were prom
inent Profit taking induced also 10
some extent by prospect Of clearing
weather over the west II is 20 be
Noted however that the weekly
forecast calls for temperatures be-
low a seasonable average. with
numerous showers. Rain is vitality
necessary in extreme southwest but
the local forecaster in Texas sees
no prospect OF any within the next
as hours. Crop is tasseling in that
territory. which is the period In
growth when most favorable condi-
tions are DESTROYS. More or less
damage reported in Iowa by wind
and rain last night. Cash corn in
scanty supply with keen competition
on the part Of buyers. being I "a
1 - higher than yesterday. We are
not attempting 10 forecast a crop
calamity. realizing that present con
ditions make an enormous yield or
very small one, depending upon
future weather but it must be ad-
mitted that the crop starts with a
handicap in that IL is late and cul-
tivation impossible in many sections
OATS-Nothing of importance
developed in cats. values following
corn. with rather limited trade
Moderate seabcard buying was no.
ted. together with the appearance
OF further export inquiry in the cash
market Harvest has commenced in
1.-THE extreme southwest Substitution
OF new oats will probably be on a
liberal scale in view Of the fact that
the price is 1-3 that of corn, this
we believe, a foundation underneath
the market suggesting that the new
crop at prevailing level is an invit-
> ing investment.
PROVISIONS-Scattered liquida
ton appeared in provisions. Undue
ed by the end Of the week and
weakness in hogs.
Hogs 10000. 10 70 Is cents lower