The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-06-11
A Com animation That Is Bearing
Down Heavily on the
Producers.
NO MARKET FOR THEIR CROP
The Fair Wheat Deal Is Forcing Cali
fornia Farmers to Sell at
Bedrock Prices.

CSiAAlCI hii Id nClS dIo WOn WHY IL Is
that the market is so dull. They read the
quotations and see that the Chicago mar
ket has gone up 80 cents per bushel during
the last few days, and then compare this
with the market here, which has advanced
only 10 cents during the same time. This
marked difference in quotations, involving
corresponding difference in sales, has
never existed before, and quite naturally
the situation is calling for deal of COM
ment and speculation as to the probable
outcome. Yesterday good wheat was quick
on the Chicago market at 81 80 per Genital.
Here it was slow at 95 cents.
The producer in trying to dispose of his
crop even at this figure, sees in the opulent
shipper lack of interest in the transaction
that arouses his curiosity. The latter
when pressed for slight advance in the
quotation is apt to grow impatient. In
nine cases out of ten he will assume an air
of serene indifference and tell the pro-
ducer blandly that the wheat market is
really very easy, and that there will in all
probability be no active demand for this
product at any price for the next few
months. Then the farmer goes off to Won
der if he is ''going broke on this years
knocked the wheat market into cooked
hat.
In the meantime the Fair block of
10000 tons is being loaded for its destina-
ton. When it is out of the country the
market may be expected to resume its
normal condition and not until then. 1t
is said that the loading of this enormous
sale will require about sixty days, and
during that time no advance can reason
ably be looked for. 1t is this big deal that
has paralyzed the market and thrown
the California producers into a state of
CONSERVATION.
When the Fair wheat was placed upon
the market four of the leading wheat
shipping firms of the coast saw the oppor-
tunity of a combine and they were quick
to take advantage of it. Eppinger & Co.,
George w. McNear, Balfour, Guthrie &
Co. and Blum, Baldwin & Girvin put their
heads together and agreed upon uniform
price. The next move was to preclude the
possibility OF expectation by the owners.
This was effected by chartering all of the
available ships for period of six months,
thus blocking any sales that the admins
traitors of the estate might have in view.
sell direct to Liverpool, but they delayed
the transfer too long. When ready to pro-
coed they found that their hands had been
tied fast by the shrewd shippers. They
could get no ships.
In the meantime, the wheat was grow
ing old in the Port Costa warehouses, and
each day meant slight depreciation in it's
value. 1t was wholly from the crop of
nd b
perfect condition. 1t was said that weevils
were playing sad havoc with it, and that
it would soon be entirely worthless. Other
stories had it that the big block had COM
menced to decay.
There was urgent necessity for an i'm
mediate sale. The owners could not
handle it Oh the foreign market, for the
long-headed dealers had completely
blocked transportation, and their shrewd
process applied with equal force to any
other individual or company outside of
the big combine that might desire to be-
come purchaser. Many other shippers
wanted to get in on the deal, but they soon
saw the game, and withdrew. What was
the use to buy wheat to let it rot in the
warehouses? The combine had secured
every ship for six months to come, and,
before half that time had elapsed, the de-
stroying little weevil and decay would
have rendered the whole lot valueless.
So they thought.
There was only one thing for the ad-
ministrators to do. 1t was to sell. And
they sold at a price agreed upon weeks be-
fore by the combine-$17 per ton.
In outward appearance this purchase
has every aspect of legitimate CONNER
cial transaction, being remarkable only for
its magnitude. Ordinarily man or a
combination of men may purchase prod
ucts or commodities in any quantity that
they may desire, providing they have the
money to pay for the same. But this
scheme contains motives, and has produced
effects that do not appear on the surface.
1t has been used from it's inception to
crush the wheat producers of the whole
State, and the existing paralysis of the
wheat market loudly attests the success of
the invention.
Thousands of farmers are trying to sell
their wheat. They cannot give it away at
present quotations, for in many cases this
would mean that they must also give up the
land on which it was raised and the ma
chinery with which it was harvested. Fig
uring upon ready market, and at least
some profit, they are not prepared to hold
on to the crop until it shall please the
combine to relieve the market. Many of
them, driven to extremity by existing
conditions, are compelled to sell at 95
cents. Others are holding on like grim
death. hoping that the shipping combine
will release its vise-like grip upon their
pockets. Meantime, McNear and others
seemed to say to those who try to sell: 1--WE
really do not care for wheat, even at 95
cents. We have nearly 10000 tons on
hand now, which is about all we can
handle for the present." So the farmer
with his crop on hand must await the
pleasure of the combination that was or
ganized to force him into selling at about
the cost of production. And he is COM
planning bitterly.
Dr.. MORT fed a lot of dogs on alum bak-
ing powder biscuits. The alum was after
ward found in their blood. Alum in food
is poison. Alum or ammonia is found in
every baking powder except the Royal.