The morning call., 1894-03-29

a move. 1t is splendid. We are going 10
have a dry year. Down south where bar
ley grows in abundance the ground is
burning now. and short year means good
money to the longs"
The result Of all the agitation was shown
yesterday, when barley went up or 4
cents. Then McGiauflin quietly unloaded
his purchases of the day before and enjoyed
a laugh at the expense of the men whom
ne had frightened.
Barley and wheat were both active dur
lug the day, and many contracts to deliver
in December were made.
The outlook for dry season caused the
activity in barley. while the condition of
the Chicago market affected the prices in
wheat.
A com bination of billiards. and cold
waves sent the Chicago prices up, brokers
there becoming frightened into the belief
that The storms had ruined the crop.
The scare started wild rush to coyer
among the shorts, and with heavy trading
the pit was scene of wild confusion.
May started only hS higher than last
nights close at 5S5s; but the cold-wave
scare took possession of the crowd almost
at once, and the price went up by long
jumps till it touched 61h. At that point
the longs began to take profits in droves,
and the fferings soon caused the price to
sag off to 60S, the market becoming quiet
and steady at about those figures.
Secretary FTiedlander of the exchange
recently received TIE advance sheet of
table OF statistics relative to the wheat
crops of the United States. which is being
prepared for publication.
The statistics have been prepared by
recognized authorities, and are deemed
very accurate.
In one portion it is demonstrated very
clearly thai the Government wheat statis-
tics for the past few years have been full
OF inaccuracies, in consequence of which
the wheat growth has been undersiated ty
177,000, 600 bushels.
The details Of this calculation are as fol-
lows. the statement of supply being the
regular Government statements for each
year:
SUPPLY.
Bushels
In farmers hands March /. lS9O... 10000 OU o
crops OF lseOsl-e2 2...............l,52 ,527 900, 900
1olal.. 900 900
DISTRIBUTION.
Consumption 1909 .... - 2q5 Ooo OOo
Consumption 1881 l-92, ,.,......... 3U2 OGO OOO
Consumption lo92-93. 3........... 3o8 600 OOO
EXP orts March :. 1890. to March /.
ls93. .......................... 5O2. 900 600
Slsl0Ie March l, 1888. .............-. 79 100000
Seed, regular statement. nt............ I63OUO. 900
Seed. additional. required for acre
age not reported. $4,000, 600
In farmers hands March /, iSaS...' 222'000' = 90
TOtal............ ,sss. 900 900
This shows a distribution of I77,0OO. 900
bushels in excess of the estimates of sup
ply. The annual estimates of WELD per
acre seem reasonable, so that the original
error appears to have been in an under
stated acreage. The area required to grow
this unreported wheat may be roughly
placed at 100000 acres, and the extra
allowance of 1S,OO0.0O0 bushels for seed.
shown above. is for the purpose of seeding
this area. The statement of $4,000 600
bushels as farm reserves is $1,000. OOO bush
els above the Government statement of a
year ago. this conclusion being the result
of the folio wing calculation:
SUPPLY.
Visible March !, lSg3.....,.. - 70 OOg OOo
Farm reserves (ofioiai Statement) ! 50 900 900
Total. ,vOO. 900
Distribution
Consumption March 1 to June 30,
Exports March to June So iss3. so S70oS 0ooSS 500
Visible supply July j. 1898 81 200 900
Farm reserves July /, lS93........... $4,000, 900
3Ol 900, 200
The farm reserves for July l, 1898. is
the only personal estimats in this calcula-
ton, and it is the resu of several inde-
pendent private investigations made in
July of last year.