Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1891-09-24
WORTH $I.25 A BuSHEL.
That is What Wheat Should
Bring, Says a Milwaukee
Market Reporter.
Reasons Why the Spectators
are Getting the Grain Be-
low Its Value,
A New Way to Make Fire
Guards Without PlOW-
ing Them.
What Wheat is Worth.

-
10 the Editor of The Alert:-I am q
Dakota farmer(by proxy and feel deep
interest in the welfare of my neighpors
who are engaged in the arduous task of
raising wheat in the James river valley.
Our efforts nave not been uniformly sue
cessful and at times some of us had our
labor for our pains, because of the alb
sence of moisture at a critical period in
the life of the plant. This year we have
a wheat crop, damaged, though 1t is to
some extent by frost, while Europe is
short 26O,OOO,OOO bushels, according to
reliable statistics-not taken from the
New York Sun, either. The rye crop, too,
is short, Russia alone admitting deic-
lency of not far from $50, 100000, bushels.
Our own wheat crop is estimated at 550,
100000 to 56O,OOO,OOo bushels, by men
such as Statistician Brown of the New
York produce exchange and D. Frank
Howard of the Chicago Trade Bulletin.
G. B. Murray of the Cincinnati Price Cur
rent, estimates the yield at 575,000,0OO
bushels, but that is on basis indepen-
dent of the Washington bureaus figures,
which, think, are more trustworty than
private estimates, because Prof. Dodge
has all the necessary facilities, some of
which are inaccessible to outsiders.
Beerbohm, a prominent English statisti-
clan and expert cabled on Friday that
the worlds wheat crop of 1891 falls 54,-
OOO, ,eOO bushels short Of the consumption
estimated, which must be made up from
existing reserves, or by the substitution
OF corn or other course grains. The rye
shortage Is so enormous, think, that
corn and potatoes will De substituted
whenever possible or available. Russia
has forbidden the expectation of
rye, and probably will take measures to
curtail the expectation of wheat, while
her distilleries are using or preparing to
use potatoes as substitute for rye in the
production of whisky or vodka. In some
parts of Russia the Door people are starv-
ing, as they do not have the means to
buy food, but the government is propos-
ing to aid them by inaugurating an elab-
crate system Of road building or repair.
ing roads already built. Germany and
France are compelled to impoIt large
quantities Of breadstuffs, and Great Brit
am will require more than was estimated
early in the season, as the unfavorable
weather IN August has reduced the con-
dition of the wheat fields from 99% to 80,
entire fields having been beaten down by
floods. The London Daily News of the
I'd inst. says that notwithstanding the
prevalent decline in prices at this time
many OF the best-informed men IN the
trade look for the price of wheat at Liv-
erpool and London to be $l.56 per bushel.
It seems to me that with freights and
other expenses not to exceed 80 cents per
bushel. our wheat ought to be worth
81 to S1.25.
I am induced to write this communica-
ton after reading your report of the
Orange Judd Farmer, whose facts may
be all right, but whose deductions are
anything but logical. In the first place
the 0. j. Farmer "puts it on thick" when
it speaks of ''our experienced market
editor with his trained assistants, at the
board of trade and other produce mar
kets, and at the livestock yards" etc.
Bosh! The agricultural papers do not
waste their substance IN sending "mar.
ket editors and trained assistants" to the
boards Of trade. The information to be
obtained on the floor can be had with
much less labor and expense, and the
market editors" can spend their time to
much better advantage by informing
farmers where they can obtain ''low-sta-
toned fowls" or IN extolling the virtues
of Shropshire rams. If "the senior ed
itor" really ''studies carefully the general
sources Of information,' etc., he ought to
be able to give more valuable advice than
that in "his view of the situation of to-
day as to future prices is very uncertain,
and if he had abundance Of idle money
he would not buy 1000 bushels Of wheat
with view of making profit by either
the advance or decline (?) upon current
prlces." Now the fact of the matter is
that the future OF prices never is any,
thing but uncertaiu-so are all doubtful
matters. It is not always supply and
demand which set the prices, though in
the end they will prevail. But in the
meantime it is speculation-the private
opinion of moneyed men in or out of the
trade-which effects values. If specu-
lators aud capitalists generally act upon
the advice of the 0. J. Farmer and fear
to touch wheat because the future is un-
certain, prices will rule low, as European
consumers are not fools and will not bid
us higher prices than We ask for our
breadstuffs. But if American people
have confidence in the future of the
cereal, if they cease SELLING the market
down" and saturating the European con-
sumner with the idea that we have 6OO,-
100000 or 7OO,000,OOO bushels IN our
granaries, "dollar wheat" will again glad
den their hearts. The London authority
quoted says lit seems impossible to avoid
the conclusion that there will be dear
loaf this winter. How high it may rise
for time depends largely upon the
action of American sleculators, for
European crops are quite 27,0OO,OO0