The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-10-01
ovERPRoDUcTIoN OF WHEAT.
There Never Before Was So Much as
Now, and Ii Never Was So Cheap.

Bradstreet's, September 2.
A grand total of s., 35s, 600 bushels of
wheat in the United States aud Canada on
the Is. inst, means gain Of about Il, COO, :
600 bushels, compared with September 1
last year, when the increase as compared
with September I. 1892. was about 24,000,-
600 bushels. On September /, in
the years lsSe-9e-9l the average grand
total of Canadian and American wheat
stocks available was not far from q, 600 600
bushels, less than one-third what they are
today. when they are 25 per cent. larger
than one year ago.
This makes the third year in succession
In which commentators on the rapid
movement of wheat stocks to market dur
ing and after harvesting have been CON-
PEELED TO infer that farmers are no longer
holding on TO their wheat for an advance
either believing the price will not 20 up
in the near future or that IL is likely 10 be
lower. This is In contrast with the situa-.
ton in manufacturing lines, where for
the past three years iobbers and other
middiemsn have been allowing the
manufacturer to carry the stocks when
there were any TO be carried, and with the
situation IN commercial circles in the past
eighteen months-when retail houses.
particularly at the interior. have
been permitting the importer and
manufacturer or tho iobber to
carry such stocks as were In existence.
contenting themselves with buying for
immediate needs only. In drawing this
parallel the wheat farmer corresponds TO
the manufacturer, but differs in that he IS
able To force his product onto the market
as rapidly as gathered, certainly TO n
greater extent than ever before. This
wheat does not. OF course, 20 directly into
consumption, bat is stored IN elevators to
swalt consumptive and export demand.
where storage charges accrue against il
With regularity and certainty unsur-
passed.
Available supplies of wheat in the
United States and Canada increased IA.
s1S, 600 bushels last month, the heaviest
increase recorded for any mouth OF August
the next heaviest being that in August
fS9s, iAS18.ooo bushels. Stocks of wheat
afioat for and IN Europe during August
decreased 4. &oeo0 bushels, but in August
is9s. wheat aaoat for and in Europe
showed an increase OF little more than
i,o0n,0Qo bushels, while in 1892 August
supplies in sight in Europe and on
the high seas bound therefor in
creased l04. 600 bushels. The grand total
of stocks OF wheat in and aloat
tor Europe September I amounted 70 Is
~. 0oo bushels. Is T0n.0o0 bushels less
than were So reported one year ago and
1. .1o. 600 bushels less than were so reported
two years ago. With which exceptions The
total for September l. lS9t. Is lhe heaviest
reported for any like date.
The tact that there were held in the
United States aud Canada on the LIST inst
east Of the Rocky mountains, about Is
500 600 bushels of wheat more than one
year ago, and on the Pacific coast 2. 4o0 GO
bushels more than wear ago, while EURO
pean and atioat for Europe supplies we're
IS 5oo,00o bushels less than a year AGO
makes II plain why the worlds stocks .,n
the lst inst amounted 10 ISl. ee2 COO
bushels, compared with lsg. 4o7. 90
bushes one year ago aud with M
oiAoo0 bushels two years AFRO, and with
much smaller totals on ike dates IN
preceding years. Wheat supplies aaoat
Tor and ia Europe. in Canada and on both
coasts OF the Uaited States. increased net
2 500 600 bushels .ast month. the heaviest
August gain since 1891 During August
last year decrease Was shown Of 10000
bushels, bat in August i>92. tAe increase
amounted 10 1850 60 bushels, and Ia 1891
70 about !. CO. 90 bushels. There - as onlv
\ nominal gain during August, tSsl, but ga
that month 81 lsS4 The net increase in the
world's available supplies amounted 10
4. 20 GO bushels.