New-York tribune., 1897-08-05
WHEAT STILL ADVANCING.
SEPTEMBER SELLS FOR Sc CENTS A
BUSHEL.
CASH WHEAT AT o2N cENTs-LowEsr PRICE EVE"
RECORDED FOR sTLvER-sUGAR Co


ING HIGHER.
New record prices ere made yesterday Ior
wheat. stocks and silver. In wheat and STOCKS
the prices the highest on the present up
ward movement. In silver the price was the
lowest ever recorded.
September wheat (wheat deliverable In sep
tember) sold on the New-York Produce FIX
change at sc cents a bushel. which was rs Genus
above the closing price on tuesday Ihe H''a'
sale was at S5% cents December wheat ad-
vanced to and closed at SO cents. Sales OF wheat
for export we're one hundred loads at New YORK
and twenty-five loads at "outports.' ioao Is
5000 bushels. so that the total export sales were
1O5OO 600 bushels Yesterdays quotation FOR
cash wheat" or wheat for immediate delivery
was 92A cents a bushel, against 16A cents
month ago and 663s cents a year ago
Silver had bad fall Commercial bars dropped
from 57at to 565s cents ounce The previous
low price was 57as cents on July %. The quota
ton for Government assay bars was o0ai cents,
which made the value of the silver In Uni'ed
States standard silver dollar 43SS cents. buiion
dealers were paying 44h cents for Mexican uo'-
lars and 303s cents for Peruvian soles ana Ch'i-
ian pesos.
There was great activity in stocks and there
was general advance in prices. record price
was made for the stock Of the American sugar
Refining Companv (Sugar TrusO. The common
stock touched 147 and closed at 14oA Inc pre-
ferred stock advanced TO and closed at ii'H'
Consolidated Gas moved up to 1862, the highest
price yet and closed at 195. which was gam
Of five points from the closing price on Iuesuay'
High prices touched by some other leao'hs
stocks were Chicago Gas, 1888; New-York Cen
trail 1O4ia: Brooklyn Union Gas. l2Z94' anu
Northwest 100. The total sales Of stocks of''
600 shares were the largest in long time.
AMOUNT OF WHEAT TAKEN.
Since the beginning Of last week exporters
have taken over 100000 bushels OF wheat at
New York and outports. mainly for the Coh'i-
nent English buyers seem to be entlreiy iel' y"
the advance. While there has been some puy-
ing for France. the bulk OF the demand see"''
to have been for the low countries ana Germany
Foreign crop conditions are reported unchanseo'
Freiehts are active. with Continental freights
strong but with English freights rather hea.S'
Receipts Of new wheat are increasing rapidly
and all receipts promise to be more than oooo'''
bushels at interior points this week. The de-
mand is so large that cash differences nave peeh
steadily advanced on winter, but are weaker on
spring In addition to wheat. there are large
freight room engagements for corn. rye oats ana
hor,oy Tho question whether the immense ex-
Z
mort business reported for August and Septem-
her actually clears is now to be answered IN
the next eight weeks
The decline in silver recently Is said TO he the
result in part Of the liquidation Of large holdings
OF prominent silver men not only in TINS couh-
try but In London. President Mckinney cur
rency message took away the last nope silver
| men had of making headway In this country III
| the near future. They supposed that. III the ap-
/ pointment Of a commission on the SUBJECT Oh pi-
metallism. Mckinley intended to help the cause
His message however. was interpreted 70 mean
| that he favored the work Of the Indianapolis
! convention against silver. In the race OF this
situation at home IS the fact that Japan mas
gone on the gold basis and has silver TO sell
India also ceases to be factor, because she mas
so little 70 export this year with which TO get
payment in silver.
SUPPLY OF EXCHANGE
The visible supply of exchange is Increasing
| ma.arioIIv and peope who make specially OF
! commercial hills say that large amounts VIII
como forward I'm the next week or two ana that
| tbere ought to be enough to supply all the needs
| NJ the market II would seem that the gold eX-
| norris in the last ten days have supplled mosi oL
| the pressing demand for bills, ana IL was ia'no.
| hard to find buyers YESTERDAY. w e.mrr .1 - ro :
/
maine to he seen Some very good judges thihk
It has. while others are doubtful on the poi'll;
! No doubt there still is good deaI Oh HhPoi.eu
| merchandise to be paid for but on the othei
hnnd ,nroign acceptanres of grain continue on
! an enormous scale and are likely to be large ior
some time to come. - -, .os,ordov.
| 4 foreign exchange banker said YESTERDAY:
! I'VE have imported large quantities ol susaI ,
ard wool which are paid for we nave taken
from London in the last month 9-o'v";U" t 1I
stocks and bonds. which we nave pau Pc, io'. III
/ ing IL
| eynort at least $3.50 100000 worth or all xmas Oh
merchandise and purchase: This is a conserVa-
|, five estimate A sum OF SfOo,o'DO~ woulu ne
| a liberal estimate OF imports in the same PERIOD
| r. is as clear as anything can be that we shall
! have an enormous balance in our favor on cur
| rent account in the next six months. ana IL Is
not surprising that e"Oha"so '' " ~
The total amount of gold now on deposit In
| tho vaults of the Clearing House Is 500, ISO,0OO
]. j. Hagerman. OF Coiorauo VINO Is now IN III
| this city referring to the development OF the
| sugar business in the Southwest, says: There
| Is only one place where the mahulacture oi
beet sugar has been undertaken IN the south
| west. and that is in the Pecos Valley. New
| Nexic, This Of course does not include Call
| fornia. as every one knows that business has
been successfully prosecuted mere tor seoefai e!t,
was built in Eddy in the Pecos Valley. 1t was
! proved beyond doubt that the sugar beets raised
| there were richer In saccharine matter tmah nan
| those raised elsewhere in this country. The
| sugar contained in the beets raised in France
| and Germany does not average over l3l2 per
| cent The average Of those raised in the Pecos
| Valley I'm 1896 was 1913 per cent
FACTORY AT ROSWELL.
IAN enterprise has been started to build
| factory at Roswell, seventy-five miles north
OF Eddy. with a capacity Of one hundred thou
sand tons Of beets per annum The beets needed
| for this factory would give the farmers OF the
| vicinity S45O.OOO year In cash. The labor re-
! uuired in the factory would be at least SlIUVc
! per annum There is nothing In the agricultural
! line which can add so much to the prohts OF the
| farmers and to the welfare of a community In
| general as a beet-sugar factory, ana look Tor
| the development OF this industry under the
I present tariff very rapidly. As to the effect