Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1897-01-08
THE WHEAT MARKET
A Further Advance Likely 10 Occur
Immediately.
THE SAN FRANCISCO MARKET.
The Utah Farmer should Receive Bet
ter Price Than is now Being
Paid-Ssme Statistics.

For some time the price paid by
wheat buyers in this city has RON from
20 to rs cents, but generally shns been
nearer the former than the latter
fgure.i within day or two, however,
the market has braced up, and today
Ia firm at rs cents. The following
press dispatch from San Francisco,
dated the 7th inst, tends to strengthen
the market here:
"Wheat In this market has come ex-
ceedingIy scarce and Is daily advanc'
ing. Shippers do not like TO have the
fact published, but 1t 10 true, and they
would willingly pay SLIGO per cental
for good No. shipping wheat, anu IL
ia know among lew that they bave
paid as hsgh az Sl.62t for extra choice
within the last IUrty-eIeht h1urs.
There is not more than $4,000 tons
OF wheat remaining In the state to
supply the export demand anu home
requirements before another crop is
harvested.
"Freights isIe In Eover supply and
weak. Vessels are not quotabie over
It's 81, United Kingdom, today. This
iavors a rise In wueat which Ii likeiy
to reach close on to 50 per GENITAL III the
local market before July L."
This rate from Oguen aud CorinDe 10
Ban Francisco lie 20 cents per bunured,
which, In connection with the above
figures, indicates about what the price
ought to be In Utah.
The statement is made that buyeis
in this city, who have been paying
farmers near mere 40 cents, have bee
OF the same time, paying as high rs 81
cents Tor wheat brought to this city
from the north. They were obliged 10
pay more for the northern than Tor the
local product, in order to compets
with the coast market, and 1t was
merely business shrewuness to buy
nearer home al u lower hgure.
The coast rate from Osden and
Corinne makes wheat worth ABOUT ~
cents more at those points than II Is III
this city, as 1t costs about that much
to haulit from here 10 them, and tuy.
ers in this city have taken advantage
Of this fact. Had the farmers of this
county been posted ana united they
might have received more for their
wheat than has BEEN paid them.
There had been shipped out Of Utah
to San Francisco, between August
lst and December 3lsI Of last
year, fully nifty million pounds
OF wheat. The price paid the
farmers sfiuctuated 60 much, snd
covered 50 wide a range Irym lowest
to highest that 1t lie difficult to avefsge
1t. The prics realizsu by shippers has
generally not been msue pubic, but
from tho San Francisco market TOT
fha. la ~. L.
assume that Utah shippers have te-
ceived cent pound net.
This means that San Francisco tly-
ers have paid Utah dealers fully
half million dollars Tor wheat within
the last iour months, snd there IL q
probability that exsc, figures Souii
considerably exceed that sum.
California farmers have very much
obiscted to the low rate on wheat from
Utah, which the Southern Pacific hss
made, but It has been OF great beuef.
TO this State. II has enabled isrmer.
to realize much better prlce for the
crop than would othetw 80 have been
possible, and this has mace collections
by business houses much eAiier.
1t Ii difficult TO estimate how much
wheat remains In the state, THIS IN.
formation is highly necessary To
forecast OF the market, aud the sck OF
1t 10 iorcib!e ILLUSTRATION OF the benefiI
that would accrue from the proper col
Iectiop, under the authority o! the
Stale, OF such statistics. Ii Ia Aruenliy
desifed, In many quarters, tina. the
present Legislature will make some
provision to this END.
AS above shown, the prospects for q
iurther advance in the nrice of wheat
are good, and HOLDERS would do we'll TO
avoid haste in dispOsing OF what they
have. Whether the price goes up OF
down, wheat sis a good thing to have
In the house"