East Oregonian : E.O. (Pendleton, OR) 1888-current, 1920-08-25
MARCH AND DECEMBER
(contined from page ~
fFron, oyerbeck &. Cooke CO. }


CHICAGO, Aug. 25.--Wheat lack
ed a definite trend, starting higher on
a small volume of commission house
buying which however, subsidized when
the advance met resting orders to
sell. Some disappointment was ex-
pressed at the failure of foreign buy
ing to reach the proportions anticipat-
ed. some liberal sales were reported
made over night but the demand to-
day was less aggressive and the hint
was repeated that the British have
gentlemens agreement not to compete
with continental buyers in this coun-
try. 1t is apparent that for the time
being England will take advantage OIL
the Canadian market. The car situa-
tion is improving wonderfully and fin
ancial authorities doubt the ability OF
the country to withhold grain from the
market.
Corn fluctuated like a ship without
a rudder, responding to the preponder-
ance of orders on either side of the of
the market. At the finish the tone
was rather weak and there was a dis
position among the local element to
discredit the reports of frost damage
in sections of Nebraska which fur
nished the motive for much of the
early buying.
The cash demand was slow but re-
ceipts were small and spot offerings
brought | to cents higher than yes
teriay. Buyers are holding off ex-
pecting larger supplies iIf the very near
futures and we are of the opinion that
their ideas are well founded as the
bulk of the crop is now practically as
sured as to quantity and the producer
should be a willing seller of his old
surplus.
Oats-Leading elevator interests
gave support to the nearby delivery
which displayed independent firmness
and fail to follow the late decline IN
other grains. Cash prices We're firm
at Yesterdays prices and the eastern
shipping demand for domestic account
was fairly good. The indications yes
terday of revival in the foreign de-
mand failed TO materialize.
RSe--Trade in futures was very
light and prices followed the action
of other grains. Some speculative
pressure was noted on the December
delivary. Cash rye was steady with
sales number two on track at about
Ia 1-2 over september
(From Overlook & Cooke Co.)
NEW YORK, August 25.--The ad-
yancjpg tendency was resumed in the
forenoon with the oils, equipments and
steels. the leaders. A great deal OF
the buying seemed to emanate from
sources that purchased stocks actively
late Yesterday and was thought to be
representative of the retirement OF
shorts, The bulge in prices attracted
some profit taking sales and bears re-
sumed their activity following the an
nouneement of the appointment of a
receivership for the Bethlehem Motors
Corporation.
This incident brought forcibly to
mind the indications that in certain in
dustrial lines over-expansion has TAX
en- place and the evils are being cor
rected slowly but sharply. A slight
increase in the call money rate in the
late afternoon also emphasized rather
strongly that the acuteness in the
money, quarter has not been altered
materially for the better. In spite OF
this there seems to be a more conf
dent class of buying going on in the
Investment departments and this lends
color to the belief that substantial in
terests anticipate better things later on
even though the current period is
very uncertain one.