The Topeka state journal., 1897-08-24
I'M AMERICAS HANDS.
English Grain Buyers Say America
Alone Has Wheat.

New York, Aug. PA dispatch to the
World from London says.
Great excitement prevailed ON the
London, Liverpool and Glasgow corn
exchanges over the sensational advance
in the price of wheat.
A World representative spent some
time OF the London exchange and spoke
with leading authorities in the trade on
wheat prospects. Oscar Erich, manager
of the great house of Ralli Brothers,
said: 'This big and sudden rise has
taken us completely by surprise over
here. I don't consider it is justified by
circumstances. At the same time our
market is f1rIner than ever and the
price will hold for some time apparent
TT is due, in my opinion. to various
causes, one being the big bear account,
/ which was opened in New York. Oper-
ators got frightened and closed it to
cover themselves.
ite opinion on the prospects of prices,
the rising being, in my view, so purely
speculative and surprising"
Mr.. Wood of the leading firm of w.
P Wood & Co., of the Corn exchange,
Mark Lane said: '"The outlook depends
in my opinion, on the financial situation
trouble in the United States L believe
wheat will go up another 20 cents. They
are importing wheat this year from
America to the Cuban provinces where
they have never imported it before. We
and the whole of Europe are in the
hands of America. 1t is the only coun-
wheat Millers here are buying from
hand to mouth, holding back for a drop
in prices, which do not believe will
come. A poor crop in Europe general
ly is the cause of the rise-a perfectly
sound cause. If some of your million
aires go into wheat having made a good
deal out of railways from which they
| are now Withdrawing, the boom will
| last"
Frank Wilson of Montegredieu, Eller-
! by &. Co., one of the oldest, WealthieSt
and most respected firms IN the Lon
| don trade, said:
France is a great factor in the sit
| uation. I have seen a French buyer
| Just come over from Paris, who said to
| me of the present French crop: The
I more we see of it, the less we like it
There was a shortage in France OF
| seven million quarters and they have
| already bought about three millions.
| If the shortage is over-e estimated they
| may be selling instead of buying a day
| or two hence. In that case prices would
drop instantly Here is a sample OF
| a parcel of wheat which 1 offered six
weeks ago at 20 shillings, and for which
| we have refused this morning Al shil-
| lings- That is a hard fact which can
| not be bIinked, but if I could tell you
| dependently what the prospect of prices
| is, I could make my fortune in a week
| / give you my opinion. 1 believe the
present price. or something near it,
| Seth Taylor, far and away the big
| gest miller of England, said:
| Il believe the rise springs from
| natural conditions, but in all my ex-
| perience / have never known an ad-
| vance more considerable in so short a
| time without any very striking change
| in the situation to account for it, There
| is, of course, the fact that the whole
| continental crop is short, and if the
| weather breaks in the north of Eng
| land before the harvest is over, you
| will have the price of wheat up anoth-
| er five shillings like a shot The wealth
| er looks pretty bad just now The con-
| dition of France apparently is very SER
| ious. The French government in order
to save themselves from the socialists
| and anarchists, must take off the wheat
| duty if present prices are maintained ,