New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-08-09
NANUF4CTURING PRICES.

A triple alliance Of farmers in the three great
sprng wheat States. binding them not TO sell
their wheat for less than 81 per bushol, Is now
l,lmored and desc yes notice as one curious spec
Native story of the times. In ten years there
have been only three In which wheat has even
touched that price at Chicago, and in those years
II actually sold above 81 at Chicago in parts OF
thrce months in 1888 and three in 1880 from the
crop of 1855 which was about 415OOOOOO bush
oils. as officially reported. There We're five
months in 1890 and six in 1891 during which
wheat sold part OF the time above 81 per bushel
at Chicago. owing to the unprecedented foreign
demand. After deducting the cost of Transports
ton from farms of Minnesota and the Dakotas
TO Chicago. il appears that there has not been
single month in ten years in which II has been
possible to maintain anything like 81 per bushel
on the farms. and only about five months out OF
100 in any part Of which that price could have
been realized Yet this period embraces years
of very short crops here and Of unprecedented
scarcity abroad
Winter wheat Is undoubtedly short this year.
and II all the spring wheat producers could some
how be induced to keep back the whole OF their
large crop. probably few Of them would get a
high price The rest would not. and would find
themselves at the end of the year with wheat on
hand and debts unpaid Wheat at 81 per bushel
at the farms in the spring wheat States would
mean more than 81 20 at New-York, and the
price has barely touched that point during one
or two days in a single month for the last twelve
years. namely. in April, 1891. when scarcity
abroad and crop less than 4OO,OO0,OOO bushels
here came together. Even in that month the
average was 81. cents lower, and in every other
month since 1888 the average was more than II
cents lower. With an average OF only % cents
per bushel AT Ncw-YOrk In 1SSS-'S0 exports fell
below so, 900, 900 bushels and price 30 cents
higher now, after the low prices OF the last three
years. would cut down both the foreign demand
and the domestic consumption at a rate to amaze
the holders. Some would quickly get frightened
and sell more or less secretly, and then the mar
ket would break wide open, and the rest would
be left to get what they could in the fag end of
year, with foreign and domestic consumption
largely supplied or lost.
IL all the wheat growers of the country were
organized as a corporation which could fix the
price for all wheat sold on the farms that asso-
citation would, in fact. be entirely powerless TO
prevent individual farmers from selling just as
the railroad combinations and pools are power
less TO prevent sharp insiders from selling out
on their associates. But II the absolute control
Of the entire crop were possible. the organization
would be compelled to put the price much lower
/ than 81 per blishel on the farms or else to stop
a large part Of the wheat growing In this coun
try Argentina and Canada would in that case
bo supplying large share Of the consumption in
this country within a few years. while wheat
exports from the United States would cease The
world has done paying dollar per bushel on the
farms for wheat, for 1t costs nothing like thai
sum TO raise 1t with modern methods. The cost
Of production has been very much reduced by til,
improved machinery within the last fifteen years
and meanwhile Siberian and South American
railroads have opened practically unlimited areas
10 wheat cultivation
The report about the farmers Of spring wheat
States is chiefly interesting as an explanation oi