The Middleburgh post. [volume] (Middleburgh, Snyder Co., Pa.) 1883-1916, 1896-10-29

and Figures To Prove That This I, Not
Mere Guess Work.
The wheat market continues 10 make
forward strides. This makes rise of 2i
cents per bushcl since the beginning OF
/ the crop year, which dated from July l..
and n total rise since juno Of this wear.
following the nomination OF Mckinley, of
2o cents per hushcl, with every indication
that values will be still higher spccula.
tors and shippers Of grain were astonished
ms well as delighted at the favorable out
look, and 1t was the general prediction
that wheat would soon go to 81 a busheI.
With tho exception OF brief period of
speculative imitation In the early summer
of 1895, pricos are now higher than they
have been since the months preceding tho
panic Of 1898.
The improvement has been chiefly made
since the first Of September, and is tho ro-
suit OF the enormous export demand
caused bv the damage to the crop through
drought In northwestern and central India
and in upper Burmah, where famine
now seems inevitable, and the shortage In
Argentine and Russia, the crop OF the
latter country being estimated fully 1OO-
10000 bushels less than a year ago Aus
tralia owing To crop failure, has this sen
son also been an importer instead of an
exporter of wheat. On Tuesday six cargoes
of California wheat were bought I'm San
Francisco for shipment TO Australia, and
five cargoes were taken for India As the
new crops OF the countries in tho southern
hemisphere will not be harvested until
January or February, and those in India
and Australia not before April, IL Is quite
certain that the United States will COM
mand the grain markets Of the world !
for several months 10 como, and tho fact
that all the available freight room on
regular lines Of steamers from both the |
Atlantic and Pacific ports have been en-
gagged to the end Of January, and that ton
mage for fun cargo grain shipments has
been chartered to load Gs far ahead rs next |
May, shows the dependence Of Europe
upon this country as II source of supply
during the present crop year.
Exports from both the Atlantic and Pa
ciiic coasts during the last week dnciud-
ing ilour) aggregated 4. l56sl7 bushels, as
against i,05O,772 bushels the week pre-
vious; 2,i0o, li6 bushels for the CORE
spending week last gear, and 3,l92, ,093
bushels the same week in 1891 making a
total export of wheat Gncluding four
from July TO datc of 1900 OOO or 49,
100000 bushels more than for tho corre-
spending period last year. The enhanced
cost Of wheat has also caused an upward
turn In flour, prices Of which have risen |
20 cents to Fl barrel over those realized
month ago. The advance in wheat has
had good influence on corn and other |
cereals, aud there has been an active de-
mand for export of both corn and oats, u
big business having been done In future
shipments from both the Atlantic and
julf ports. The exports OF corn in three
months have been 20, 565, ,529 bushels, com
pared with 0,2i0,sS7 bushels for the same
'ime last year, and the exports for nine
months have been sos, $50 bushels, or al
most three times the quantity exported I'm
he corresponding nine months of 1895. =
Jorn has gained about 3i4 cents per
,ushel tho past week, and the demand for
hipment abroad still continues large.
Pork and provisions have shown marked :
Improvement, owing to tho rise in grain
'alues, large exports and increased specu-
alton. Tho increased domand for our
ereals from European countries has had :.
moro or less influence in other lines OF
rade and gwen an impetus to business.
With the election of Mckinley and
ound money administration, 10 Is conil-
ently believed by business men that this
ountry will emerge from this, one of the
worst panics wo have eyer experienced, 10
uch restoration of confidence and re
ewed prosperity that will furnish work n
nd business for thousand upon thou
nds Of idle workmen.