The record-union., 1893-10-09
COMMERCIAL.
Review of the Grain, Fruit and Gen.
eraI Produce Situation.
katest Quotations In the Produce Mar
ke5 Both at San Francisco and
Sacramento.
Sc FRANcIsco, October 8th.


California, particularly, suffers from eAces-
sive supplies OF her own raising, which 1alI 10
meet a commensurate demand.
Undou btedIy prices are regulated by supply
and demand, it is a fundamental law but the
year 1893 has proved the exception, ana
prices this year have had entirely different
factors to control them. The supply mas not
exceeded the usual requirements, but the ue-
Inand has been checked and controlled by eX-
cessive scarcity OF money and the failure OF
the customary facilities which are always
afforded the producer for marketing his crops
as they mature, together with necessitated
economy on the part of consumers ana the
dread uncertainty of legislative action in re-
gard to the tariff, SO that the usual customers
had no means of knowing just how to regu-
late their purchases for future wants.
The croaker and pessimist may claim that
our State produces more than the markets OF
the world will take, and hence the outlook Is
not very promising for her farmers and pro-
ducers. This would undoubtedly be true II
we had no other than our home markets 10
depend upon, but all the markets OF the Wor!d
are open to us now, both by ocean ana rapIu
transit by rail, Californlas Wheat, BarleV,
Wool and Fruits are distinctiyely known IN
all the leading markets of the world ana com
mand the highest prices. For thirty years
Great Britain has made a special demand Iof
California Wheat, with quotations among tne
highest. For ten or fifteen years past the same
great market has been open to our CheValIer
Barley at highest prices though Inc stan m q q
of quality has been rather hard 10 meet, ana
tor two years past there has been large eX-
port to the same market for our ordinary
Barley of prime quality, which was most uil-
expected as 1t is always slow WORK lntrouuc-
ing new article into English markets New
England manufacturers have had their buyers
in this market each year TO secure our WOOL
crop ever since it became leading staple,
u Vi
year has found almost no other fruit dis
played but that from California.
1t is true that prices OF all these articles
have not left the usual profit, but that was
due to supplying too much at one time, owing
TO the absolute necessity for money, and not
to any excessive production.
No entire crop is expected to be urged Tor
sale the moment it is gathered. "Many men
have many minds" Some prefer to borrow
money sufficient 10 meet the immediate eX-
penses of harvesting and hold thelT product
in expectation OF better prices as supplies di-
minish. Others make 1t a rule TO sell as soon
as their product is ready and thereby save
interest and expenses. Unfortunately this
year almost everybody has been Obliged TO
sell as soon as their product was ready. lind
ing ii difficult to borrow even the money re-
quired to pay for the labor OF gathering.
Hence the supply has been greater than the
immediate demand, and this state OF affairs
will apply TO every one OF our leading staples.
Take Wheat, for example, and the aolest
stat sticianS estimate that Europe is short
4O,O00,00O bushels. The United States, as a
leading,source of supply, is said to have pro
duced only 3SO,OOO,OO0 bushels for 1898,
against 012, 2,000,O 900 bushels for 1892, a pro-
ducton which our own population could
Very nearly or quite consume and yet the
prices in Eastern markets go cents to 50
cents q bushel in Chicago and in California
have been unprecedentedly low.
California has a fun average crop, and can
furnish 100000 tons (23, 100000 bushelSl
for export, and yet we are obliged TO rush 1t
onto the market and accept 81 % p 100 lbs
t63 cents p bushel) because the facilities Tor
raising money on warehouse receipts and
shipping it as required are so limited. Had
there been the usual supply of money to fnr-
nish farmerS for harvesting expenses, ships
would never have received over 25 shllings
= ton for freight to Europe and Wheat would
have probably ranged from 81 30 10 81 40 p
GENITAL.
There has been no over-productiOn of
Wheat this year. We have been raising an
equal quantity i'll good crop years since 1S7 8,
and with improved AGRICULTURAL implements
and cheaper transportation there is still a fair
return of profit 10 the producer at the above
figures. Many experienced and shrewd oper-
ators express great confidence that Wheat
viii sell 80 per cent. higher during the pres
ent crop year If money gets into q normal
condition within that time.
Barley has given more than an average
yield and it is expected that we have a crop
of $4,000 tons. but the shipping demand
has been greater than any previous years and
to markets heretofore not open to us. Eng
land has been large purchaser and the ex-
tremely low overland freights by rail 10 all
the Eastern markets has enabled us to meet
the Eastern farmer in his home market for
our Barley is much superior and preferred,
and yet prices have ruled lower than almost
ever known, even IN the years previous to
1850, when we knew only home consump-
ton
Wool has fallen off in quantity since 1888
fully 25 per cent, the cargo OF 1883 being
40. 100000 pounds, while in 1891 it was
29,O0O,000 pounds and in 1892 32,O00.000
pounds, and probably would have been the
same for 1893 but for the discouraging con-
dition of trade, which led many woo-growers
to omit the fall clip. Eastern buyers were
promptly on hand last spring and bought
freely up to the middle of May at Ia to / 7
cents a pound, satisfactory and profitable
price to the growers, but then came pinch
for money and more especially rumors of q
radical change in the tariIf, even to allowing
foreign woods to enter duty free, and the mar
izet came to a standstill at once and the same
woods for the past three months we're unsala-
Bile at 9 to ! 2 cents a pound. There was no
over-production to cause this. Let the politi-
cal party in poweEgive but moderate pro-
lection and encouragement to our wool
growers and we have a very large area of
land admirably suited to this and 10 no other
industry, and wool will continue to be one of
the leading and most profitable staples we
produce and the market will readily take
double our present production.
In Dairy Products there has always been q
scarcity: prices are always well maintained
and hardly any industry under proper man
agement has yielded better results. The coast
range as il slopes to the ocean from Del Norte
TO San Diego Counties is covered with herds
OF Weil-cared-ior mich cows, ana their own
ers are all prosperous. while the interior
dairies never supply the local home demand.
a short season in early summer finds a sur
plus stock to be packed down in pickle which
pays well to ship TO market the feed dries
up But both Washington and British Column
bia are still, at times, drawing on our supplies,
and frequently we are large importers from
Eastern CMinnesota) creameries. We certainly
have never over-produced Dairy Produce,
and depend largely upon Salt Lake and Ne
braska and even Iowa tor Eggs and Poultry.
Hogs have never been raised in sufficient
numbers to keep out large shipments OF the
product from the East.
So far as Fruits are cOneerned-as the sup
plies increase the demand increases with It.
a leading pioneer Gamer remarked years ago
$50 many people are going into Embarrassing
that in O few years 1t viii be perfect giut in
the market, such large crops can never be dis
posed Of" Those few years. have passed
and gone several years ago. and yet his COM
pany are paying higher tor frult except this
year. than when be made the prophecy. In
TACT, TO get all the profit there IS IN The busl-
ness from the starting point, this very nrm
has started a very large orchard of their own.
The shipment uf green fruit to the East this
year have been largely in excess of any previ-
Gus year; they have supplied the leading East
ern markets, and though they have been sold
there at very reasonable prices, placing them
within the enjoyment of almost all classes,
yet as general thing they have left a fair
result to the producer. Ofcourse, so much has
been said ana written of the great profits in
OIcuaIuS liat large returns nave been eX-
pected and this year not realized, still, this
staple has resulted better than any other lead
Ing one we have considered. over production
has not Yet been reached. The canneries this
year would have used double the quantity
they have purchased if they could have been
furnished the usual moneyed facilities. vet
what they did pack is beginning TO ind ready
sale at satisfactory prices, and the supply is
too limited on certain leading articles
There Is always one recourse for every enter
prising orchardist-he can dry his crop tor
few places in California where good fruit is
raised that has not also q dry warm sunny
climate to cure the fruit. A month ago and
the complaint was common that "Dried Fruit
oo,,ld not be sold: there is no demand y bvt