Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1895-05-30

contain the information that the Whea!
crop there this season Will be fallufe, |
due principally to the low market pilce
Of the grain during the last four years, |
which has not been sufficient TO covert
the cost of cultivation and harvesting.
According to official data there were
on Dec. 81 last 7,3S6,06O acres ini
wheat. and it was estimated that thei
minimum cost of cultivation and har-
veSting would reach $1,000 (paper) per-
acre, or an entire outlay Of more than
SD, 100000 paper), gold being at a
premium Of about 27O per cent. Many!
farmers have left their wheat unhar-
vested. The average price of wheat in
the Argentine Republic is about 81 per!
100 kiloS, Of 22O pounds, and placing
the total yield of the present crop at
100000 tons. the farmers would re-
ceive $4S,OOO,OO0, leaving a loss OF
S162, 100000. 1t is estimated that the
total export Of this years crop will not
exceed $4,000 tons.
Col. Rogers, secretary of the cham
Der Of commerce, speaking about the
cause for the recent advance in wheat,
said: Il attribute this advance to the
reports OF frost, Eessian fly and chinch
bugs in the winter wheat section, par
ticularly on account of the ravages OF
the insects. This is the immedia e
cause. There has been an upward ten
dency because Of the decrease Of tie
visible supply, which has been very
III u ; -,
wheat has been doing badly for d
| long time. There was slow develop
ment to start out with, and this geI-
eral 'backWardnCSS was accentuated
| by the damages of the froSts and the
insects. so that small crop is Il
! foregOne conclusion in the states north
| of the Ohio and Missouri and Kansas.
! Che farmers of the section affected
have joined with the spectators and
are holding their wheat. In fact, in
i stead of selling, they are actually buy
! ing options, and the market has gone
aut of the hands of the regular Specu-
! latOrS and the masses are holding the
! options. 1t has been a long time since
| the market has been so wild. 1t is
reported that wheat has been shipped
| back from Chicago to Kansas City
FOR milling purposes, and the millers
! IN the winter wheat section are look
| ing for wheat to make up the shortage
/ to the northwest
! Col. Rogers was asked by wire by
: Cottrell, the big New York Spectator,
whether he knew of any extensive
I damage to winter wheat to justify the
bull movement, and replied that he
did not. Nevertheless, he said to a
! reporter that at the present state of
the market wheat might go up to a
dollar without being a great surprise
He intimated, however, that it was
very likely that it would not remain
there
} G. A. Pillsbury was on change for
touching the present advance: "Of
! touching the present advance: "Of
course | have no idea where the price
/ will go. There are two things that
bring about the present rapid increase;
the legitimate demand has been re
ducing the surplus very much and
there is the effect of sentiment upon
the market. The crop in the winter
wheat section will be very light and
the reserves have, or, at least will
be, pretty we'll used up by the time
we have the new crop in the market.
The acreage has been reduced in every
foreign country of which | have had
, any returns; in my opinion, the. legiti
mate condition warrants still greater
advance. Of course there is no telling
what effect sentiment will have: it
sometimes puts the price up and again
puts it down"
President j. Ii. Martin, of the Cham
Der of Commerce, is a commission
merchant. He was in high feather
with the lively tone Of the market.
Speaking Of the rise in prices, he said:
Il believe it is due to the demand for
the wheat. Stocks have been low and
the visible has been disappearing
rapidly. There is a general feeling
everywhere that the day of 50-cent
wheat has passed. All the reports
from the winter wheat section are
bullish. They will want more of our
wheat. This is no doubt the cause
for the sudden and steady climb, but
[ attribute it more to the increase in
the legitimate demand and the re
duction of the wheat in the country.
There was also some influence in the
improved condition Of the markets
abroad
A. c. Loring, of the Consolidated
Milling company, says: Il attribute
the rise to two causes. There is d
legitimate advance because stocks are
short and then speculation always be-
comes very active at such times. You
can tell that the general public is
interested and taking hand in the
deal by the crowds in the galleries
and in the corridors in the chamber
building. These spasmodic Speculat tors
follow the market a long as it keeps
going up. Then, when the break
comes, as it so often does after such
an advance, they drop out, abandon
their deals and the market sinks back
from the weight of the load they leave
behind them. No, the millerS and the
elevator men have no special interest /
in the advance or the decline in prices !
Their transactions are pretty well
hedged. OF course, the -four manu-
facturer simply raises the price on
his flour. In one way it always has
good effect upon the -four market;
the dealers are not SO apt to hang
back and haggle over a little point