The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1919-04-24

FURNISHED ~ T. ] Myers. 3U1 n. Bldg.i
Chicago, April 24-The Tribune: GRAIN
Advancing corn prices surprise a mn
days hoped for recession In values That
the market is larger than the trade are able
TO understand or handle is shown by its a.
ton. Most of those who have been bullish
and long, have sold ont and believe prices
high enough but they have gone nigaes
selling. The action of the corn mar ct
creates the belief that some one has alb
for the trade to wrestle with daily is too.
small for the volume of business, 80 that
prices are easily advanced in the daily
evening up OF the pit element. 1t viii lie
surprise to see corn futures much
higher. Some predict $1.S0 and others say
| they would not be surprised to see it s''l
ultima tely at 81. Most traders reg ri the
| market AS dangerous and those who are
afraid to buy il also say they have not the !.
broad affair that it makes difference
! who buys or cells. as Of lute such opera
! tions have had otrty a temporary effect.
| Oats were sold yesterday by traders who
bought them at much lower prices when
they had hardly frien n,,, Now that hit they i
weeks, the buying side is more populur. A
large reduction in the acreage Is expected
| Another factor Is that the Canadian wish
| BILE is only 5.0SS 600 or less than half Of
! last years. The American visible is 10
9S7 900 or 100000 over last years. Oats
| are regarded too low compared with
corn and other grains and the trade looks
| for them to follow corn up, but not to
| selling movement. cargo of Argentine
corn Is due in New York today or tomor-
row for the Corn Products Co. 1t Is. claim
| ed that the eastern trade Is contracting for
Argentine corn. Argentine corn for May
June shipment was offered In New York
| yesterday at 15kc under Chicago July
| 1t is figured by Broomhall that there will
] be an expOrtable surplus of over 904 COO coo
bushels of wheat in the leading countries
| Russia India. He looks to see a time
when exporters will have to compete with
| each other in order to find buyers. Even
after allowing for average imports of GIG, :
! 00o009 by Europe. August l. 1920, may
! find the world with a surplus of over i00,-
o0t.ooo. central Illinois elevator man
/ who was here yesterday said around
Campaign. country stations generally were
this season of the year it's hardly safe to
/ New York. April Observation-Disclosures
prices are predicted in well Informed quar-
stock of the Philadelphia Co, whose
strength and activity are declared to be due
to beIated recognition Of the improving
position of this public utility concern,
which is controlled by the United Rys. Inv.
| Co There is good demand reported for.
| moderate recessions. 1t is intimated in
some quarters that part of this buying is
for Investment speculation. while other
quarters find short covering for account OF
a large professional short interest that has
been tied up. in the stock awaiting a break
| III price reductions. Mexican OIL stocks
are receiving an increased speculative at
| tention from the outside element. sPersis-
tent rumors of combination for. foreign
! buying are stimulating public sentiment in
| the oil group, and it is said in spe,.iaI list
| quarters that the commitment in oils for
| that element is of very big proportions at
| the present time. Coppers are being par
! tieularly recommended In well Informed
| quarters are Anc. Chile, Inspiration and
Cerro Depasco. Private borrowing chan
neis reflect n large short uncovered in
| terests in the rails. This is said to he
particularly large in N. H., Reading, n y.
| g, st. Paul. Can. Pac., Il. & o. and L. "
| C. & o. and So. Ry, are being very strongly
recommended by conservative quarters
Fancy. prices are being predicted for In