Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1892-12-08
The Reporter . Farmer.
THURSDAY. DECEMBER 8. 1892.
THE Low PRICE OF WIFE AT.

~ ROOo oCdi VI SShft 49,
been heard lately of the bearish as
pect giyen the domestic wheat mar
kets by the presentation OF totals OF
available supplies as compared
with like aggregate in proceed
ing years. The point Is made
that these extraordinary additions
to the available supplies take just
SO much wheat out of the farmers
or ssinyisible" stocks and do not
as some have contended, mean q
surplus for export or otherwise 10
the extent Of The increase Of avail
able supplies over a year ago. This
is both true aud untrue. Or, In
other words, it is only half a truth.
1t ia undoubtedly true that the
price of am article in which trad
ing is facilitated by regularly organ
lied markets IN which purchases
and sales for future delivery may
be readily made, is influenced lar.
gely by whst the general opinion in
the markets believes is to happen,
having a price msKing Influence.
The mission Of the statistician,
therefore, is to furnish as accurate
information as possible. for it is
upon Information that intelligent
opinion must be based.
Now the excessive stocks OF wheat
available IN the United States do
not deceive any intelligent grain
merchant in the United States or in
Europe, and most grain merchants
who deserve the name and remain
long in the business have to be IN
telligent. All such know just what
the recent bombardment of the
railway companies with wheat BY
American farmers means, aud WI
venture to assert that no enc Of
them has suspected or does suspec'
that because the available suppl,
here is larger than ole year ago
therefore the wheat crop OF ls9;
here was in excess of that in 1891
Dorubusch, q London commentorI
says the american supply is more
potential than ever, and Threatens
to overshadow all the other cIrcum
stances which mold trade opinion
and govern the direction OF busi
ness. The movement OF wheat
from the interior to Atlantic port!
has assumed such enormous proper
lions that traffic is blocked at many
on the granger railroads, and at
Chicago alone hundreds of grain
cars cannot be unloaded for want
of stowsge room. The railway
companies are said to be refusing
to acceps grain for transmission.
And even more discriminating
still is the comment by Beerbohm.
of London, that Overwhelming
large receipts Of wheat (here) lead
ing in ZONE districts to congested
railw.y depots, and dull reports
from Europe have combined t.
cause q further decline of one and
one half to two cents per bushel.'
Much blame is attached to the
Washington bureau by some Ameri
can journals on account Of the re-
cent increased crop estlma' IS, ou'
If the continuance OF immense de
livery from farmers at present
prices mean anything, they PROBABLY
mean that the last cop is 8 large,
n that has previously been
thought, aud the sooner the trade
ia acquainted with the exact state oil
affairs the better. The visible sup
ply, meanwhile, is increasing rapid
Il, and bids fair to exceed the pre-
Fslous highest on record, unless
farmers moderate their undue haste
TO sell. To judge from the stock
ut the sexboard, too, there is not
likely to be sny difficulty for some
~eess in obtalalug what may be
wanted for export.
Ia shors, the great bear in the
American wheat markets TO-DAY, as
be has been for months past, is the
American producer of wheat him.
self. He has, so far as may be de-
Eergsned, raised two very large
crops in snccession-the second one
hat Of 1892, being unexpectedly
large-and has been obliged to
market hitherto unsupported sup
lies. If he had not been'sobliged"
o dispose Of this whest which has