The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1896-10-24
n te
why WHEAT IS WORTH MORE
The Potent Causes That-Haye Led
to a Big Advance,
In Five weeks the Psice Has Conc
Up Nineteen Cents and Friends
of h Cereal Predict
Another Jump.

Chicago. Oct. 19.-Wheat began to rise
w weeks ago. n Saturday marked
an advance of 10 cents made in that
time. Now its friends are predicting Il
doubling of his gain before the month
Is over. The widest talk of the Wild
est of h bulls has turned out 10 be the
nearest correct OF any statement that
was made.
The statement advanced a short time
ago that wheat had been chartered in
California for Calcutta was hooted at
as highly improbable at first. but now
1t pfoves to haye been authentic. Satur-
days adVices were h In addition to
the steamer room chartered the ship
pers had also begun chartering the sail
ers, thus indicating that he conditions
We're serious and would be lasting.
Meanwhile California is selling cargo
after cargo of wheat and fiour to Aus
tralia, and has been doing so ever since
the Australian harvest. An unusual
Chinese demand for fiour has also devel-
oped and large shipments have recently
been made to the celestials.
Despite the fact that the advance in
the price has started an immense guam
tity OF property toward the leading mar
kets, there is no indication of a let up
80 1AS NSlAAditu. IhSCelpLS VI WlLSdl d I
the leading primary markets in this
country last week aggregated S,425, 900
bushels, against 6,450,0 0 bushels for the
previous week and 1900. 900 bushels for
the corresponding week last year. The
statement of supplies afloat for Europe
which is due early in the week will show
nearly 30,000.O 900 bushels headed for the
consuming markets, or double what 1t
was less than a month. ago.
Liverpool Advances Fast.
Nevertheless Liverpool has advanced
as fast as Chicago, and scored Il gain
Of 3 cents Saturday, as compared with
the previous day, and Berlin and Paris
made corresponding gains. On the Pa,
citic coast The market was actus:..y
boiling with excitement and an advance
Of 6 cents was scored. The advance In
Chicago was to 1915 cents for December,
against liz cents as the low point Of
the previous day and 81 cents rs ME
low point reached September s.
One of the main direct reasons for the
Sig rise was that quite a line of cash
wheat, offered to Liverpool Friday
night at an advance of 3k cents rer
bushel from the price of the preceding
evening, was accepted and orders fer
more cash wheat, as well as orders to
buy future deliveries, were also forth
coming.
Meanwhile the advance in wheat is
fast spreading TO other products. May
corn was sold at 29# cents, against 2S7s
cents as the low point of a month ago,
and oats sold at % cents, as against Is
cents low. No. / flaXseed sold at so
cents, as against 53h cents as The low
ooint touched September /.
In addition TO the speculative demand
for products. there is also an excellent
export and shipping business. The New
York shippers report that the business
abroad is limited only by the amount
of available ocean freight capacity, and
this born out by the freight rate which
IS now equal to 10 cents per 100 pounds,
as against III cents in August.
Whence the Demand Comes.
The big pressure for freight room is
from shippers of wheat, corn. apples,
cheese, beans, pork products and sun
dry products. The foreign demand for
corn is unheard Of in volume and is
based largely on the failure of the feed
crops of Russia and the United King
DOM. Speculative buying of corn in
England has also become quite a fad,
as it has not advanced as fast as
wheat. and the money necessary for the
operation can be had at l per e
Pork products advanced Saturday en-
tirely In sympathy with wheat. There
was a good sale of meats, not only
abroad, but to the south, during the last
week, but the stocks on hand were SO
large and the attitude of the packers so
| pronounced against an advance at the
beginning OF the packing season that
the trade naturally expected ordinary
influences to prevail. They were par
ticularly of this opinion, as the trade es-
Inmates of receipts OF hogs were very
large for today n this week, at $4,000
and 1870, 900 respectively. Nevertheless,
pork advanced 321s cents, lard 17h cents
and ribs 20 cents from the closing prices
of the preceding day.
A London cable said that the s.tua-
ton in India is best reflected by ar ad-
vance of Is cents per quarter in flax
seed during the last few weeks. This
was equal to 4 cents per bushel. The
cable was received before the last adj
vance of 3 cents per bushel was made
here.