The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-06-09
THE OUTLOOK FOR WHEAT
Large Shipments of the Cheap
Oregon Product Going
to Texas.
UNAUTHENTIC
RUMOR'
The Sperry Company Needs Its
Wheat and Has None for I'M
mediate Shipment.

Unusual interest was caused in wheat
and commission circles yesterday by the
rumor which gained currency to the effect
that large quantity of the syndicate
| wheat had been sold to Texas millers and
was already being loaded.
! supplemental report was circulated
| that the deal with the Texas millers had
! been made by the Sperry Milling Com
pany, which purchased between eight and
ten thousand tons of the Fair wheat.
There are several reasons why such re-
port should be productive of more than
ordinary speculation. The immense hold
| ing of wheat by the Fair estate has had a
pronounced influence on the market for
some time past, and such a deal as that
indicated with the Texas millers, if bona
fide, must be decidedly new departure,
! as Texas has always received her wheat
from the Chicago, st. Louis and Kansas
City markets, and from commission deal
ers in the Middle States.
a thorough investigation as to the au-
thenticlty OF the report was made yester-
day, with the result that it was found to be
without foundation in fact, but is attribu-
table to shipment which is now being
made OF Oregon and Washington wheat to
Texas and some of the Territories. The
principal wheat-dealers who were con-
suited about the rumored sale of syndicate
wheat in Texas and the effect on the mar
ket OF the shipment of the Oregon wheat
South expressed much satisfaction that
such large quantity of cheap wheat
should be taken out of competition with
the California wheat.
Said a representative of Sperry g. Co.:
,,Ihe report OF our shipping any wheat to
Texas millers is incorrect. Iu the first
place we bought only about 10000 tons of
the syndicate wheat and we have use for it
all IN our business. Secondly, it is too
good quality of wheat for us to think of
shipping any portion of it away, even
though our present demand was not equal
10 lts immediate consumption. As to the
general and direct effect OF the sale of the
syndicate wheat I do not think there is
anything undesirable to be apprehended."
\ The largest buyers of the Fair wheat
were seen: George W. McNear. 6O,050
tons; Balfour, Guthrie & Co., 1850; Ep-
plnger & Co., 81, $50; Blum, Baldwin IL
Girvin, Il, $50, and they asserted their ignor-
ance OF any deal with the millers in the
Lone Star State
ST have heard the rumor,'' said Mr.. Nc
Near, ''but think it must be due to the
shipment by rail of large quantity Of the
oregon and Washington wheat TO Texas.
II there had been any such transaction
certainly would have heard OF 1t, and so
would the other dealers with whom you
have talked. The destruction Of the com
petition OF this cheap Oregon and Wash
lngton wheat, however, viii have bene-
hclal effect on the California market"
A member Of the firm OF Blum, Baldwin
o. Glrvln said: There has been no deal
IN California or syndicate wheat with
Texas millers 70 our knowledge. The
statements which have appeared 10 the
purport that the sale and shipment of this
immense quantity of wheat viii have an
injurious effect on the local wheat market,
are exaggerated No bad results are to be
apprehended. The outlook is good for the
coming CROP"
Balfour, Guthrie s. Co. knew OF no deal
with Texas millers and the members OF the
firm spoke encouragingly of the prospect
for a comfortable market. "The talk of
storing this wheat instead of getting it out
of the country to make room for the COM
ing crop is idle. There will be room for
the new crop and the market abroad will
not be more than temporarily effected by
the unloading of the syndicate wheat"