The San Francisco call., 1897-07-21
All Countries Now Look to Califor-
MIA for Their Wheat
Supply.

The wheat excitement still continues
| and the steady increase in prices has glad
dened the heart of the wheat farmer until
he has almost become convinced that lite
is worth living.
The quotations given at the close of last
week and the comments upon them were
as follows:
There was very strong feeling in wheat al
the closing session of the week December
started at 81 30IE and closed at 81 3O3S; May,
81 80. Decemb-r barley opened at 76Ic. ad-
vanced 10 77Ac, where it closed the local
wheat market has shown unusual activity
during the week. One cargo of California
wheat was sold for France account, the first
ior many months. Exporters are outbidding
each other in the country for wheat; in many
instances 4c TO &c above the price OF Decem Der
has been paid. Farmers deliveries are very
small. Shippers are finding it hard to get
enough wheat to iii imme mediate charters.
The demand from abroad seems about to
start The market has had q 10c advance
within the past two weeks without backset,
local crowd figuring on a break of &c or SC.
Country buying was liberal to-day.
Since that time there has been no
diminution, either in the price or the de-
mand. so ii is inferred that the market
will keep up for some time to come. 1t 4;
a recognized TACT that the French buyers
are mere and are determined to lay in a
supply, as the crop is known to be short
in that country. India is in the same con-
dition and Australia will come later.
The reports from France show that the
condition in that country fully iustifies
the increase in this market. They say:
Foreign markets came higher and excited
this morning. Liverpool was up 1Ad. Paris
reported -four rs centimes to ! franz higher
Wheat was unchanged.
The San Francisco price on -four took a
Jump yesterday OF 25 cents on the barrel.
This with a steady wheat market gives an
indication that there is yet higher mar
gin 10 be reached. The quotations al the
close of yesterdays sale points to this
con clusion.
There was excitement and big business
at the call board. Decem Der wheat openod
at 81 35 rose to 81 36 and closed at 81 351%.
May was in demand at 81 50. At TO-: 10
Decem Der shot up to 81 37ss at the open
Ing and went still higher. 10 81 38, closing
al 81 375s May opened at 81 Az and
backed GOWN 10 81 DO. Al 11:l5 Decem Der
rose to 81 49, closing at 81 3814. May
opened a. 81 Az and closed al 81 Al.
Following his news was received that C.
A. PiIlsbury OF MINNEAPOLIS had obtained
control of three-fourths of the visi BILE
wheat supply. If this be so he has been
at work in very quiet way.
Nor is this the end. From present indi-
cations it is fair 10 predict that the farmer
during the coming year will find himself
in the rather novel position of making
money, provided common prudence is ex.
ercised in the disposition of the yield.
There is going to be an unusual demand
for wheat all over the world, and most of
the deficient crop will have to be provided
for by the yield of California grain fields.
The Australian harvest will not begin
until January next, and the crop then
will be short. A certain amount OF grain
ryTilI Z frnv CO.. otc Il
the coming season, pr badly more than
last year. when the amount was consider
able. So that with home requirements
and heavy export trade. while the crop
itself can only be called a fair one, the
San Joaquin wheat-growers and those oi
the upper valleys will have an Alaska
bonanza of their own at home.