The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-10-24
A Drop in the Price of Wheat.

Those who follow the wheat market say
they are not surprised at the decline in
the price of wheat. They explain the de-
cline by saying that the scarcity of money
is so great that those who were carrying
large amounts of wheat on margins were
compelled to sell when slight reaction
in the market came. They couldn't get
sufficient money to make their margins
good The throwing of so much wheat on
the market naturally had the effect of
still further depressing the market.
There is a vast amount of speculation
in wheat going on, and this speculation no
doubt has it's effect on the price of it.
Nevertheless, it is certain that the great
rise that has taken place in the price has
not been caused by speculation. 1t is due,
as we have heretofore stated, to the ex-
traordinary foreign demand. Foreign
buyers, knowing that there is only an av-
erage crop in this country, and that the
crop in all the other wheat exporting coun-
tries is short, have been, and still are,
eager buyers of our wheat. That this Is
true is shown by the fact that all the
available rolling stock of the railroads
leading from the wheat growing sections
to the exporting ports is fully employed
in carrying wheat. and the demand for
ships to carry wheat cargoes is so great
that ocean freight rates have been greatly
advanced.
OF course nobody can say with absolute
certainty what course the wheat market
will take within the next few days, but
in view of the existing conditions it can
hardly fail to advance, though it may be
lower before taking an upward turn.
1t is estimated that this country had
more than 25O,OOOO0O bushels of wheat for
export when the present rise in the price
of wheat began. and that about SO.OO0,OOO
have been exported. we have, therefore,
a great deal yet with which to meet the
demand from abroad.
1t appears that the hackmen Of the city
take especial pleasure in driving around
the squares the wrong way, that is, to'the
left to the annoyance of persons who OBJ
serve the rules of the road and go to the
right. Not only do the hackmen persist
emily drive to the left but they are dis
posed to be insolent when spoken to about
It. That there are no more accidents on
the streets resulting from vehicles driv-
ing around the squares the wrong way.
and bicycle riders scorching around and
across corners at a 2;4O clip. is due more
to good luck than good management or
common sense.
Weyler's latest proclamation would seem
to indicate that he is about to commence a
war of determination in the province of
Pinar del Rio. The residents Of the prov
ince are given eight days to get into the
fortified towns At the end Of that time
all persons found outside OF the towns will
be dreated as insurgents and dealt with
accordingly. That means men, women and
children will be shot and hacked TO death
II they insist upon remaining by their
property. Weylors mode Of warfare is bar
barous
Judge Gober will hardly improve his
| standing with the people by appealing TO
class prejudice. The suggestion OF
money power" controlling courts in this
state is gratuitious and preposterous. The
supreme court of Georgia is above sus-
picion, and will be kept so. That ii has
been so handicapped with press Of busi.