The herald., 1895-04-02
LOCAL LOCAL FIELD FIELD OOE| COMMERCE COMMERCE
Produce Markets Open Quiet and
Without Special Change
SLIGHT CHANGES IN PRICES
The Orange Market Remains Decidedly
Unsatisfactory
Reports From the East Give But Little
Encouragement for Improvement
in the Near Future

The week opened with the orange mar
ket unchanged, and with apparently but
little chance for improvement in the near
future. The eastern markets are glutted
and with the heavy foreign arrivals it
does not look as if California fruit, of the
Seeding variety, at least, can be moved
at profit. The exchange is still keeping
up its quotations, but reports from San
Francisco and eastern centers do not us
tain the figures. The situation is becom-
ing decidedly strained. and something
must give way in The near future.
Under the heading, The Wheat Outlook,
the Pacific Rural Press of March 10th
prints the following
When it is currently reported that
prominent interior miller offers a large
wager that he will purchase wheat before
long at 80 cents per Genital, il naturally
has depressing effect on those who now
have wheat in the ground and are look
ing for better times We hardly think
a man, even if he believes that wheat
may go so low, should make such an an
nouncement as he is credited with, be-
cause of it's depressing effect upon people
who have suffered enough without this
additional gloom. In the nature of things
any such a drop in values cannot be fore
seen, and all ordinary courses of affairs
would pronounce such drop imposs bic.
AS matter OF fact there is abundant
reason to think that wheat will not take
downward direction. There is certain
" less wheat in existence now than for
long time.
We have lust received the governments
wheat report dated at Washington on
March 18th, which states that the estima-
ted amount of wheat in farmers hands is
in round numbers, IS 600, 600 bushels, or
1863 per cent of the crop of 1884, This
is 30 900, 900 bushels less than was report
I'd in farmers hands at the same date
last year. The explanation of this eX-
haustion of farm reserves is in large mea-
sure to be found in the fact that great
quantities have been fed to hogs and
other stock Returns from North and
South Dakota indicate unprecedented ex-
haustion of last years crop, correspond
ents in many counties reporting not
enough on hand for spring seed and the
necessary food supply. This shows that
there is no great accumulation of wheat
in this country. In the same line is a
circular we have just received from
Charles l.. Hyde of Pierre, South Dakota.
Mr.. Hyde figures
Wheat in the visible March 1st.... 100000
Wheat in second hands not in the
Wheat in farmers hands .......... S5, 100000
Total supply. ........... .......1ss, 900, 900
Amount for feed for four months to
Amount needed for spring seeding
Amount for live stock feeding, four
months ,...,..f....'....... 4O,0oo,OoO
Total needs. .l74, 900, coo
Balances for all supplies, visible, private
warehouses and farmers hands July LIST,
1000, 600. 1t hardly seems possible that
supplies would become so reduced but
allowing 150OO,oO bushels to be taken
from the export and food requirements,
and we have but %, 900, 900 for all sup
plies On the other hand many believe
that Europe will need from so 000,0 to
90. 600, 900 from America during the next
four months.
Mr.. Hyde proceeds to show that the
condition of supplies in March, 1884, were
very similar to the present time. There
was then reported as in farmers hands
10000 600. and So, 0o0.0 900 bushels were
marketed at terminal points from March
1st to July LIST, 1871. The visible supply
at that date go down to Is 900, 000-about
the lowest for the last decade. That
year. in April. 1891, wheat sold in Chi
cago at 81. Is per bushel, and in the face
of the biggest prospective crop we had
ever produced. Mr.. Hyde concludes that
it surely seems that the present supply
would warrant prices at least 30 per cent
more per bushel for wheat than it is now
bringing. 1t is quite likely that it would
be much higher if it were not for the sue
cessful efforts at short selling by few
large spectators in Chicago, who have
become wealthy IN that line during the
last three years We hope that the Cali
fornia miller who is willing to bet that
wheat will go down to 80 cents per
GENITAL is not actuatd by Chicago motives.
Referring to California wines, the same
publication has the following:
At a largely attended convention of
manufacturers held in this city last week.
Mr.. A. Sbarboro introduced paper on
the wine Industries of the state, which
was highly appreciated, judging from the
applause. He began by referring to the
depression in the wine industry and the
formation of the California Wine Makers
corporation. 1t had gained control of
nine-te of the wine of 1884, an in
few months raised the price of wine
from cents to 1917 cents per gallon, at
which figure 5000, 900 gallons of wine
have already been sold; and, furthermore,
an agreement had been entered into with
the principal wine dealers in the city
whereby future prices shall be regulated
SO as to give fair living price to the
grape growers and wine makers alike.
Mr.. SbarbOro said:
''The price obtained for wine by the
producer and that paid by the consumer
has been unreasonably disproportionate
There have been instances where the pro-
ducer has received 10 cents per gallon for
his wine, which, after having been put
up in so-caled pint bottles, has been sold
on the cars and in some hotels as high as
81 per bottle, thus making the consumer
pay about $40 per gallon for an article
which the producer receives about 10
cents per gallon. 1t is the ann of this CO.
operative combination to do away with
such unreasonable charges, and at the
same time to permit only sound and good
wine to be furnished to the consumer; all
unsound wine will hereafter go to the dis
tllery. There is room in this state for
very large increase of the wine industry.
The 20, 900, 900 gallons OF WINE which is
now produced annually as an average in
this state would be consumed in italy
or France in single city having the
population of San Francisco.
. In former years there was prejudice
against our wines. but now the prejudice
has been overcome, especially since it has
been admitted ty experts and juries at
the United States and foreign exhibits
that our ordinary wine is far superior to
that produced in Europe, and that, with
the exception of few extraordinarily
fine wines of France, we can produce here
as fine table wine as is made in France.
Italy or SPAIN"
There is no change in the local money
market. Loans on approved securities
are sought after and there is no trouble
to raise money on good inside real estate
in large sums at slight shading of the
regular rates.