The morning call., 1894-08-01
SUMMER SHOWERS
How They Took the Starch
Out of Wheat.
THE WAR IS NOT IN 1T.
The Hot Wave Caused Mondays
FURRY on Change.
FLOUR AND FRUIT BENEFITED.
Some Big Orders for Canned Goods
for the Orient From London
Buyers.
FLOUR AND FRUIT BENEFITED.

There was a shower Of rain in Nebraska
yesterday. and December wheat sold as
low as 99%c as against 81 OPS of the day
before, when the hot spell was still at
work.
For this San Francisco dealers are suf-
fering a temporary feeling of disgust at
the impulsiveness of Chicago.
The war had nothing TO do with the
fiurry-they all admit that. A hot wave
had been reported as burning up the Kan
sas corncrop, and straghtway the wheat of
the Dakotas began rapid increase in
value through sympathy.
Although wheat closed on Monday a
little lower than its highest figure, 1t was
expected that il would continue to advance
yesterday, and the gathering at the eX-
change was full of anticpations Of activity
tor the day. But they were not realized.
The reports that came to the exchange
and 10 individuals from Chicago were
charged with the damrening effect OF the
summer shower in Nebraska. The price
dropped to 99%c and then rallied little.
closing at $1,000, or 15sc lower than the
Monday closing.
No man on change can divine any other
reason for the furry of Monday than hot
wave, nor OF the shrink Of yesterday than
the Nebraska shower. The one dovetails
with the others, and if the Jap-Chinese
war is rung in, it is simply through cour-
tesy.
1t is conceded all up and down the
gamut of reasoning from the ultra bull to
the ultra bear that war between Japan
and China will not affect wheat enough to
talk about. Not until the other powers
Russia. Germany and France-get into it
will it create a disturbance in the food
market.
'And even then it will be short affair"
said G. w. Alexander, dealer in the
Chicago board. But you can't make
those Eastern fellows take any stock in a
war. not until it is being fought. They
have been fooled so often on this war talk
that war talk won't go. They've got to get
in and fight. They are so set about it that
if good big war suddenly broke out they
would all get caught. 1t IS the same in
London. We know they don't believe in
war, because we can't sail them anything,
they don't want it. When you see Eng
lish consols moving you can begin to hear
them changing their mind, and not before.
''To be sure there is good deal of activ-
ity in flour, and also In canned fruit for
the markets of Japan and China. The
-four mills here are receiving some big
orders and preparing to run on full and
even extra time. Fruit orders are coming
in in an unusual fashion.
"The work Is being done in a quiet mas
terly way, avoiding any excitement. l
know of deal cf Al. 900 sacks of flour COM
pleted in Hong-Kong yesterday at good
figures, the -four TO be delivered at once.
The order was duplicated to-day, with in
structions to send by first steamer. /
understand it was not accepted, however,
at once. They say that the money situa-
tion is handicap to rapid dealing. For
ordinary orders the customers are o. h.
but for big buys the dealers here are not
sufficiently certain about it,
II saw a cablegram from Hong Hong to-
day costing S66, saying that war had not
yet been declared, but that it might be ex-
pected to-day. That was his guess Qhe
man on the ground). but it might be just
as faulty as mine or yours here, at cooler
distance.
81 remember at the breaking out of
the FrancO-Prussian war wheat was
standing at dollar when war was de-
clared and in short time it had jumped
to 81 50. When the war was thought to be
just about begun it suddenly ended and
wheat has never quit falling yet.
$50 it will be in case great war should
break out involving European nations.
The killing methods are such that it could
not last long and while it would be good
thing for the farmer temporarily it would
not last long"