Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1889-07-23
ON CHANGE.
Spot Cotton Unchanged, Futures in
Some Cases Higher, in Others Lower.
Wheat Opened Dull, Fluctuated Widely and
Closed at en- Advanee-Coffee and
Wool Markets Unchanged.
Daily Reye1w.

1t tne COTTON crop Is nOurlsn1ng. Ao-
counts from different parts of this section
state that farmers are well up with their
work having got the best of the weeds
and the crep is looking excellentIy well.
Business in the different branches, both
wholesale and retail, is quiet and will
probably remain so for a month.
There has been no changes in prices
since last report, quotations at the close
of to-day beng as are given below.
AMERICAN WHEAT IN THE WORLD s MAR
KErs.
Making all allowances for the exag-
gerations Of spectators, it is evident that
there will soon be a lively demand for
American wheat in Europe. Most of the
countries Of Western Europe, including
, England, France, Italy and Spain, and
portions of Germany, are largely de-
pendent upon foreign markets even when
favored by average wheat crops. To
supply the consumers of Western Europe
the leading competitors are the United
States, Russia, Austria Hungary, East
India and the Australian colonies.
Unless the reports are greatly at fault,
the farmers of the United States will
haze little reason to fear competition
FROM Eastern Europe this year. In the
great wheat belt of Europe long contin-
ued drouth, followed by violent storms
OF rain and hail, has wrought ruin to
the crops. A failure III Russia has sue
ceeded two abundant harvests that ena-
abled the Russians to supply n large por-
ton of the European demand for bread
The great granaries of Odessa and other
ports on the Black sea were never so
empty as now and it is feared that
portion OF the remaining stores will have
to be sent back to the regions that sup
piled them. In Austria Hungary, the
yield, so far from affording a surplus
for export, is believed to be insufficient
to meet the home demand.
When to this untoward condition of
things in Eastern Europe are added re-
ports OF crop failures III East India and
of less than average harvest in Aus
tralIa there can be no doubt that the sit
uation is extremely favorable TO the far
mers and transporters OF this country.
While the prospect is somewhat obscuTed
by accounts from DakOta-where it is es-
mated that the yield will fall 30, QS0 coo
bushels below last year S - crop
there will still be large sur
plus of American wheat for ex-
port OF course, the present estimates
Of crop failures abroad, which are
colored in some degree by the glo6nry re-
ports of unfortunate producers ) may be
fayorably modified by more accurate re-
turns i'll the future; but it my safely be
assumed that American wheat wig have
a controlling influence upon the world s
markets for bread this year.
It will not do, however, to make eX
travagant calculations upon the hecessi- !
ties of hungry Europe. Russia is a great I
country, and so is India, and in the in
terror of these vast regions there are
stores of wheat which may be put UPON
the market in an emergency. WheH.the
prices of wheat rise too high con-
sumers can use cheaper substitutes for
bread, of which the supply is very abun-'
dant. In the speculative rage of the
Chicago gamblers last year much Of the
wheat destined for export was locked up
in the grain elevators, and it is lying in
them yet A repetition of this wild game
would arrest the export trade in wheat,
of which the prospect is now so favora-
bic, and show once more that, abundant
as are the harvests of this country, hun
CRY Europe is not absolutely dependent
upon them for bread - Philadelphia
Record