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SPECIAL MARKET LETTER The following raarket letter la furBlshed ïis by McLain Bbos, & Co. (Jommission Merclmnts, Kialto Building, Chicago: Financial circlea during the past weck have been undisturbed by anything of a sensational uharacter, aii I tlieie are bnt few Indicatlons if disquieting lncldents to check the increasfng demaiid for all classes of remnticrative secnrities. There are rood ruisous for antioipating Lene wal of pold sliipiiients in moderate volume, mid Bome fears that railway rate wars niv being vvaircd ïnuv eventual ly develop anpiofltable uiitagonism between llie great tnmk Unes. These elementa f weakness have thns lar been rtceordi-d but little consWeratiou in speculative transactioHs, tbemore hopeful features of the sitiiation baving domlnated the stock market. The persistent claims of promising rop conditions along the íinea of the Kieat western and northwestern roads, Which are uure i.p! inistic than cil lier ftovernmeDtor private Information, luía contributed to tlie Improvement in business in Wall street. and impartid greater conftdenoe In the future of the general security list. 'J'he reci nt diencliiiifi which 'alniost the entile grain belt of llie country Uasreceived allays all fears of erop damage for the present, and imless stonns become tle structively frequent, erop advices w,ll doubt less become more fiattering; for therainfali Iihs not only afforded need ed moisture. but has. by its abundance. materiaUy checked the propngation of insect life. and redueed the possibility of damage ('rom that cause to the minimum. The wheat situation has undergone but little chauge, effber at home or abroad, so far as tHe near future is eoncemed; stocks continue to decrease rapidly, and will undoubtedly be comparatively smnll by the time the new erop is in liberal snpply. The growing grain has beengreally benetited by recent kaing. and the outlook for a bounteous epring wheat harvest is llatlering. Reporta from winter wheat sections, especially in Illinois and Missouri, indícate 'a 'much larger yieki than has heietofore seemed possible. and a few cars of new wheat have been reeeived at some of the primary markets. The demand for old wheat for milling purposes is fairly liberal on soft spots, bnt abates as soon as any advance in price is demanded. Many milis are idle. awaitin? the advent of the new erop, and as the consumption of flour gcies steadily on, the milling demand wlwn it begins will probably absorb a large pxoportion of the earlier receipts. Foreign advices reitérate the claims of damage in Bulgaria and üoimiania. aiülst.:,:' tliaJ.rewnrya üx Iílüse tries and HTThS i n . i;"i ;öi-óTT77s'i TTTfi smal!. Euronenn markets do not rellfct ;my mvat ipprehrnsion of Inabilt in secure adequate supplies, elthei for present oí' future coneutnption,and tlieir ii;iih tends to discredit the reports of serious damage n the Danubiaii eountries. Speculation Ib daüy drlftfug Into t lie September future, althongh tkere is great Interest manifest in tlie rourseoi the July option, which it limes bas Heeraed to be subject to manipnlation. Tlrere la but little, however, to warrant the assnmption, and the etraliv coune of the market is not unnatnral when the paucity of siipplies, as cnmpared with the volume of trade, and the peisiatence with whieh the claims of a 1 squeeze" are pressed, are considerad. So f ar as the general trade is concerned, thecourseof July wheat will soon become more an object of curioaity tban of interest, except as it may aympathetlcallv affect the moi-e deferred futures. Wlien tliis"bogie" is out of the u;;y and tlie traile directa its attention to the ni'w erop futures, the market will doubtless broaden and once mme bc subject to the Influence of natera.1 causes. Weatlier conditions whicli have b. n, so beneficia! to growinff wheat have also benelited the growing corn, especially in sections where the abnndant rain f all was followed byhigh temperature; and where doubts and misRivius prevailed, on account of the returdiug influence of unfavora.ble weather, hope and conlidence have been restored. While the favorable weather clianre has improved the erop outlook, it has necessitated its more assidious working in order tliat it uiay be i'reed from rapidly growing weeds, and will engnge the attention of so many farmers that their inability to maiket the surplus of former crops will probably be manifest in receipts at priman markets. So much of the corn in cribsat interior stations will not pay a profit at cnrrent quotations that anything that will check the movement from flrst hands will soon affect available supplies. The export demand whicli has noticeably fallen off, isstill suflicient to make the clearances quite heavy when compared with the movement of otlier years, and to créate a ready market for current receipts. There 'has been a revival of speculative activity in this cereal whicli at times so absorbed the attention of traders that it commanded more consideration than wheat. Oats continue feature! ess and are indebtedto corn for what little aniination the market for tliem possesses. The heavy receipts of hogs have gradually depressed the pricè of the product despite the substantial support of interested longs. The visible Bupply of grain in ths United States and Canada shows tht followingehangesforthe week: Wheat decreased 2,0i:,000 bu, corn incrensed T47,OOü bu and oats decreased G(J4 000 U"