East Oregonian : E.O. (Pendleton, OR) 1888-current, 1920-10-04
tI'rem overbeck 4 cooke CO.


i CHICAGO. Oct. Wheat-It was
Z a weask market froms start TO nnlsf
4 and al small buIges due to profit taxi
ing by shorts were quickly erased.
4 The 81 mark found resting orders 10
bay bat in insufficient volume to abb
sorb liquidating sales. The cash mar
! ket responded 10 the decline in fu-
lures and although premiums were
unchanged here, the basis was cents
| lower in the northwest For the first
time in several days, the export de-
inand was reported completely absent
/ Perhaps the most significant news OF
the day was report that coun;r,
shows more Willingness to solltng and
its importance il emphasized when ont
realizes tlat the farmer stnbborni.
refused 10 sell corn above $3.50 bu
is now dumping it on the market q
rapidly as possible.
Corn--General selling develope,
shortly after the opening and the loat
that was put into the market wa
more than the buying, which wa
mainly TO cover shorts, could digest
There was nothing new in the wa.
of news, in fact, there was nothing
necessary sto bring about lower prices.
cash corn continued to display weak
ness by declining TO around October
prices for the contract grade. Re
Aeirts fail to decrease as many eX-
pected and, from present indication
the movement is likely to continue
good proportions for slime time Il
come There is u surplus in the coun
try that the farmer apparently want
to convert into cash, regardless OF |
sacrifice. Indications of a substanti- |
al upturn are not present and the |
tendency will undoubtedly continue /
downward. until something construct |
i've comes to the front.
Oats-I'rices receded readily with |
other grains and although the market |
encountered support from time T.
time, the volume was not large enoug
to counteract the influence of beal
pressure. Cash prices broke with the
futures and spot sales were on approx /
inately same basis as Saturday. Thi
market might be low enough, to be
purchase, but there is nothing in tn
outlook upon which to base progn osti-
cations of that sort.
Rye-The buying power in thi
was considered of an infuen-
tial sort but il failed to offset th,
selling inspired by weakness in othel
pits. Cash rye declined shortly and |
sold at cents TO 3 cents over Decem-
ber for No. ..
U'rom over beck & Cooke COD
NEW YORK, Oct. 4.-The market
as general proposition. exhibited
very strong tone today, particularly
in the closing hour. The steady
shrinkage in commodity values. like
wheat. corn, oats and other related
foodstuffs is a most gratifying level
opment of late and naturally with the
purchasing power of the
dollar investment stocks of which
show large yields at current quota
tons are in more active demand. The,l
development of this buying power
seems to he increasing and it is par
ticularly oh eisValle in the railroad
stocks and bonds. The Federal re-
serve system exhibit saturday was
rather favorable and the lessening de-
mands OF commearal enterprises for
funds is expected~to further improve
the banking position from now on.
Industrial stocks have been severely
depressed and there seems TO be a
feeling in conservative quarters that
quotations in certain departments
have been carried to extremely low
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