The herald., 1897-08-25
GRAIN PRICES THE RAILROAD
Take the English Dealers The Best Property Prussia
by Surprise Controls
THE BOOM is LIKELY TO LAST HALF THE NATIONS INCOME
PRESENT PRICES DERIVED CHARGES FOR
TRANSPORTATION
Easily Control of
Utilities
Take the English Dealers
by Surprise
THE BOOM IS LIKELY TO LAST
AND PRESENT PRICES WILL BE
EXCEEDED
The Advance Has Been Sudden, But
the Cause Is Easily Found in
Short Crops
Associated Press Special Wire.

Associated Press Special Wire.
NEW YORK, August PA dispatch
to the World from London says: Great
excitement prevailed on the London, ,Liv-
erpool and Glasgow corn exchanges over
the sensational advance in the price of
wheat
A World representative spent some
time on the London exchange and spoke
with leading authorities in the trade on
wheat prospects. Oscar Frich manager
of the great house Of Ralli Brothers,
said: "This big and sudden rise has
taken us completely by surprise. don't
consider it justified by circumstances
At the same time our market is firmer
than ever and the price will hold for
some time, apparently.
at is due, in my opinion, to various
causes, one being the big bear account
which was opened in New York Ope-
rators got frightened and closed 1t to
cover themselves.
II would not venture to give definite
opinion on the prospects of prices, the
rise being, in my views, SO purely spec
ulative and surprising"
Mr.. Wood of the leading firm Of w. P.
Wood and Company, Of the Corn Ex-
change, said: "The outlook depends, in
my opinion, on the financial situation on
the other side. If there is no money
trouble in the United States 1 believe
wheat will go up another twenty cents
They are importing wheat this year
from America to the Cuban provinces
where they have never imported it be-
fore. We and the whole of Europe are
in the hands Of America. 1t is the only
country we have now to look to for our
wheat. Millers here are buying from
hand to mouth, holding back for drop
in prices, which I do not believe will
come. A poor crop in Europe generally
is the cause of the rise-a perfectly
sound cause. If some of your million
aires go into wheat, having made
good deal out of railways, from which
they are now withdrawing, the boom
will last"
Frank Wilson of Montegredio, Ellery
and Company, one of the oldest, wealth.
lest and most respected firms in the Lon
don trade said: France is a great fac
L
French buyer just come over from Paris
who said to me of the French crop: The
more we see of it the less we like it,
There was a shortage In France of
100000 quarters and they have already
bought about 100000. If the shortage
is over-estimated they may be selling
instead of buying day or two hence.
In that case prices would drop Instant
1xy &c ,v1a Of
wheat which I offered six weeks ago at
29 shillings, and for which 1 have re-
fused this morning Al shillings. That is
hard fact which cannot be blnked. 1
give you my opinion. I believe the pres
ent price, or something near it, will rule
for some time to come"
Seth Taylor, the biggest miller of Eng
land, said: II believe the rise springs
from natural conditions, but in all my
experience I have never known an ad-
vance more considerable in so short
time without a very striking change in
the situation to account for it, There
is, Of course, the fact that the whole con-
tinental crop is short and If the weather
breaks in the north Of England before
the harvest Is over, you will have the
price of wheat up another five shillings
AlhS a eHOt Lie weather looks pretty
bad just now. The condition of France
is apparently very serious. The French
government, in order to save themselves
from the socialists and anarchists, must
take off the wheat duty if the present
prices are maintained"
FLOUR FOR PERU
SAN FRANCISCO, Aug. 24-The riv-
er boat J. D. Peters has brought load
of flour from Stockton that will be sent
to Peru. The Crown mills have also sent
to this city a shipment of -four in bar
rels that is destined for Shanghai, China.
1t is unusual to ship flour from Califor-
MIA in wood. This lot is said to be des-
tined for the line II the new Siberian
railway.
Ship charters are still on the increase.
and 27s cd from this port to Europe has
been reached. At this rate three vessels
were engaged today.
TOOK A TUMBLE
PORTLAND, Ore, Aug. 24-Wheat
took another tumble today. Locally the
DECLINE was almost lost sight of in the
scramble that was being made for ships
which are now in a fair way of going
to 4OS In fact AIS was refused for a eoO1