The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-10-16
BIG CROP PRICES
ARE IN EVIDENCE
Grain Rallies as Result
Of Smaller Crops in
Foreign Nations
FARMERS BENEFITING
Money Moving TO Rural Dis
tricts; Treasury Notes
Oversubscribed

ny ths hsfotiafed Press,
NEW YORK. oct l5.-bo'ior
prices Tor farm products ard gvi-
dences ~ Increased industrial nrtiy-
sly marked tho past wcck in buni-
moss ana finances
a rally in grain prices came Oddly
enough az e. time whom u was clear
that the crisis in tho Turkish diffl-
Guilty had boon passed. u wna at
tributod partly 20 tho reports %
smaller crops abroad. IN any event,
December wheat rose above ii.09 q
bushcl. which II approximately 10
cents n buHhol above the recent low.
Domestic crop estimates made
public by the department ~ agri-
culture on Monday. show on The
whole very little change. wheat IL
now placed ut $4,000. 900 bushels,
or only 100000 less than In the
previous government estimate. while
corn N expected 10 ylold 2,Sb2,0OO,-
900 bushels. about 2 4 600, 600 bushels
less than was forecast on September
!. In other words. abundant crops
Of cereals will be available
Cotton over 22 Cents.
Cotton meanwhile rallied to above
20 cents q pound, partly as u bclnted
recognition Of tho hulllsh statistical
position ana partly because trade
buying. which was withhold pending
"a settlement OF tho near east trouble,
has now come into the market. Tex
tilo mills evidently are planning
90 extend their activities ana are
Al A.. D
ter OF staple. Existing prices arc
over ? cents above tho recent low
ana arc materially less than 1 cent
below the high OF last year.
The weeks federal reserve state
ments indicate both an iucroase In
the volume OF business aud n move
mont ot funds toward agricultural
districts. The respective ratio OF the
system ls now nearly per cent he-
low tho peak which was reached NJ
the close Of the season OF summer
dullness. IL is s,lll. however, APP
proximnteiy per cent above the
corresponding figures for year ago.
Discounts. deposits ana note clrculn-
tion continue TO grow. Meanwhile,
the tendency is toward sllghtly firm
or conditions In tho money market
although no sharp rise In the cost of
commercial commodities in antici-
patod.
Notes Oversubscribed.
OverEubscrlption OF tho treasury's
new issue OF 30-year ~ per cent
bonds Is regarded as n favorable In
dicatlon as Co tho condition OF the
investment market. The now bonds,
which are offered 20 tho value OF
$500. 100000, or thereabouis. are
primarily desired TO provide the
funds for tho redemption OF tho
ssTO, 100000 in Victory notes. which
have been paid Off. the chief maiur-
tiles which will have 90 he taken
care OF before July will bo t6eb.-
600 900 In war savings certificates
which the treasury hopes to refund
into new treasury savings certir-
Gates and Si.soO,O0o,000 In Victory
notes.
Financial quarters believed that
these operations would be accom-
pllshed without disturbing the
money and securities market. when
these operations have been complot-
cd tho treasury will havo taken care
OF It's principal early mnturltios
which totalod t7.500,000 in April,
1921, when rerunding operations
were started.
Industrial returns continued en-
couraglng. The raiirOads have sot
new high record for n year IN tho
matter OF cars OF revenue freight
loaded, Car shortage continues to
represent the limiting factor In the
steel industry and IN number ot
others, steel output has now made
good all the losses suffered on ac.
count OF the strikes,