The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-05-07
Cbe nems 5rtu1ttar
Classified Section

corn, 80, 600, oats. $4,000 shipments;
Wheat, $4,000. corn, $4,000; oats, 4o'ooV'
Chicago b. +. & Co, say the trade
has been hoping against hope Tor
more normal rail situation: but we are
as badly off as ever. An farm work
has been delayed by very late sea-
son. and must now he rushed so that
farmers will give the first thought rath-
er than fresh deliveries OF grain.
Chicago Commission houses con-
tinue to buy lard, Armour has been
the best seller so far, but ! understand
II is in the way Of hedging cash pur-
chases REM TO shepard & Gluck,
Chicago French government has Of
fieially declared that all bread must
contain some rye or corn flour. the ad-
mixture to be between Is to 40 per cent.
Wagner to Shepard Gluck.
Chicago The railroad situation viii
probably prevent sellers OF the May
making delivery. The consequent con-
gestion in both corn and oats Is already
affecting the most deferred deliveries
and will he factor the balance OF the
month, --Babcock.
Chicago First sale Of cash corn 3
cents higher No. 2 yellow, $2'o5 I'o-
cal feed dealers are buyers OF both corn
and oRts-BahCOCk.
Chicago Cash corn Is to cents
higher. BabCock.
stocks.
New York-The appeal Of the local
federal reserve bank to reduce credlts
and cut prices is causing turther sell
ing Of stocks this morning.
Neutrality-suspicious. left Mexico
City for Vera Cruz At l O'Clock TINS
morning,
New York--A leading banker Of Chi
| cago has issued statement which
sounds good from a bankers stand
point but is very hearsh from mar
ket standpoint. The statement Is re-
assuring AS TO the banking situation
but he says, THE peak OF commodity
prices has been reached and down
ward turn is imminent" This means
prospective loss on inventories be-
cause every corporation like every mer-
chant must have a stock on hand, but
IL also means reduced profits at n
time when many OF the companies have
materially increased their capitaliZa-
tion.-- Ettelson to Clark q Co.
New York--If one can judge by action
OF the stock market, the bull boom
is off II rs eminent authorities main
tain, we have reached the peak OF high
prices. the adjustment Is no longer a
theory, but an actual fact. There Is
nothing definite ahead but uncertainty.
This combination Is not conducive to
optimism.
New York-Anyone reading the state
ment OF the federal reserve bank re-
viewing business conditions for the first
four months of the current year can
draw from II but scant comfort as re-
CARDS the credit situation. Wall street
appears to have done its part pretty
thoroughly in reducing its credit de-
mands, and II Is the strain In the COM
mercial field and the enormous demand
for new capital for railroad and indus
trial purposes, a large part Of which
must he cared for before the Southern
and Western sections Of the country call
upon the East for crop moving funds
that complexities the problem. Clark,
Childs & Co. 10 Shepard Gluck.
New York-M n. p. shipped in April
5000 barrels OF oil from TampIco and is
shipping today at rate OF 100000 barrels
daily. PAn-AmeriCan now has - ships
carrying Mexican petroleum oil TO mar
ket, and has 10 more ships building in
England, the first OF which will be in
commission in a couple of weeks
Ticker.
New York Some prices are coming
down. Three weeks ago crude rubber
was So cents a pound. Today It is Of
fered at 40 cents.-Slater to McFal.