The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1897-08-25
THE EXCITEMENT
OVER WHEAT
4 Panic Imminent Among London and
Continental Dealers.
Is EXPECTED TO 90 HIGHER
No rlscs but America 20 LOok to for the
supply Of the korld's Short Markets
Sigh, Drop Yesterday.
is EXPECTED TO 90 HIGHER

New York. Angus, IA World dis.
patch from LonIon sayH.
GrvAt excitement on she London. Liver
pool and Glasgow corn exchanges, over
the pcnsatloaal advance In wheat A
World representative spent some time on
toe I.ondon exchange and spoke with
leading authorities In The trade on wheat
prospects osoar Frich, manager OF the
great house of RalL Bros. Baid.
This BIZ ud sudden ris" has taken
us completely by surpf1se don't con-
slider % Ia Justified by circumstances. At
'hr same time. our mnTkc, Is flrmcr than
ever and the price viii hold for some
time. apparently II n duc. m my opln-
lon. 10 various causes. one being the blg
bear account which WIS opord in New
York. Operators got frightened and
closed II 10 cover themselves. l would
not venture TO give q debate opinion
cn the prospects OF prices. the r.sc being.
In my views. 30 purely speculative aCh
surprising"
Mr.. Wood. OF IN, leading Arm OF W. p.
Wood ~ Co. oi ttr Corn Exchange,
,aid:
The outlook depends. IN my opinion,
on tho hnancial situation un The other
side II there - 10 money trouble in
The Uni,ed States, believe whea; will
80 up another % cents They are Inn
porting ,his year from America to the
cuban provinces. whore they have never
imported before We and the whole OF
Europe are In the ha is of America. II
~ N, only country We have now to look
for our wheat. Mulers here arc buying
from hand TO mouth, holding back for a
drop In prices, which do not believe
will comr. poor crop in Europe general
ly is the cause ~ the rise--h perfectly
sound cause. II some Of your million
aires so into wheat, having made good
deal out OF railways. from which they
nre now Withdrawing the boom will
last"
Frank Wilson Of Monmgredo. Ellery
a Co. one OF me oldest. wealthiest and
most respected nrms N the Londo1 trade
said
Franc, Is great factor IN the sliua-
ton. have seen French buyer lust
come over from Paris, who said to me
OF tho present French crop; The more
we SEQ OF it. the less We like it There
WAS a shortage In France OF T"",""
quarters uad they have already bought
nbout 100000 II thc shortage Is over
estimated. they may be selling instead OF
huylnr day or two Hence, In that
cnse. prices would drop instantly, Here
IL a sample OF a parcel of wheat whieh
offered six weeks ago al COS AND for
which have refused this morning us
That Is a hard fact which cannot he
hli.kcd. give you my opinion.
believe tho present price, or something
near Il, will rule FOR some time to come
Seth Taylor, the biggest miller In En-
gland. says
Il believe the rise springs from natu-
raj conditions bu; in all my experience
| have never known AN advance more
considerable IN so short n time without
any very striking change In the situation
TO account for IT, There rs, of course,
the fact that the whole continental crop
- short. and II the weather breaks b
the north of England before the harvest
Is over YOU will have the price of wheat
M another tive shillings like shot
The weather looks prctty bad Just now.
The condition OF France apparently Is
very serious. The French government
in order to save themselves from the So
cIallsts and anarchists, must take or
the wheat duty. II the present prices
are maintained"
Omaha, August 9L-The wheat crop OF
Nebraska has been threshcd. The quail
ity is excellent and the yield Is unpre-
cedented, aggrega,ing 45,OOOOOo bushels
II is generally estimated that the Yield
Of corn will be $4,000 600 bushels, or 80
bushels to the acre.
In South Dakota a close estimate places
the wheat yield at 2O,OOO,OoO bushels The
average is Is bushels to the acre. In
corn the yield viii be sooOoo,ooo bushels
an average Of 40 bushels to the acre.
There is an abundance of oats which
averages, up TO last years crop