The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-07-08
OBSERVATION-DISCLOSURES
MEANS PROSPERITY FOR THE FAR
MER AND EYERYBODY ELSE.

MER AND ELSE.
Husiue.u Reu Eneeurnred-R.repe,s supply OF
wheat IL Short and she Sanst Draw Heavily
ON tho United stntes-Yesterday's Future
sales Here Were the Largest since 1891.
The condition OF tho wheat market during the
past week has boon the talk OF the exchanges.
And not only has 1t attracted the attention of
spectators, but 1t has caught the attention OF
all Now York business men. They seem to see
In the firm tone Of the market, tho steady ad-
vance in price, and the heavy sales recorded
for the Continental and English accounts, a sure
indication of n general business revival. The
men OF business reason that when tho foreign
wheat supply is low, the granaries Of the United
States must be called upon TO make up the
worlds deficiency. When there is n demand
for wheat the farmer is prosperous, and when
the farmer Is prosperous, 40 the business men
reason, there is prosperity in the country.
The same condition OF the market that has
obtained during the week prevailed yesterday.
The days business was marked, however, by
sales for the foreign accounts, for delivery In
August and September, larger than Mt any time
since 1901 In New York alone sales of ninety
two shiplonds, or about 100000 bushels. were
reported. The heaviest sales, however, were re-
ported from ports along the Atlantic coast other
than Now York. In the past three days 1t is re-
ported that over 10000 600 bushels of wheat
have been purchased for future shipment to for
eign ports. Those sales have boon mostly OF the
new winter wheats of Kansas and the softer
varieties from the Southwest.
The reason for these heavy sales Is that the
worlds visible supply Of wheat was mover 30
low as 1t is at present. 1t is estimated that tho
total visible supply at present for the whole
world Is not above 75,0OO,O 600 bushels. Be-
sides this, this years crops in Austria Hungary,
TN--.-- L.-t.- I1---t- IA.Iu p-.,-, yta ~
England will be light. 1t is now estimated that
the crops along the Danube will not be moro
than one-half what they were last year. An
idea Of the condition OF the crop abroad may BIO
had. from the following extract from the LAYER
st is evident that we cannot look to America
for any great wheat surplus next season. She
just drawing to a close, but that is all one has a
right to hope for from the present outlook. In
d d,s, So g srop q g 81 t lSo6 goo goo o onsrfer sa'H fb hsS t ptSl
is about 5000. 600 quarters less than the revised
estimate Of tho previous years famine crop, 80
ties of wheat from India during the ten months
ending March, 1898. Perhaps 100000 quar-.
is the same quantity as was exported in 1895
pa; The Russian spring wheat crop Is yet IN the
bbGi k a SURPLUS 1hS w as %e T hSTs b PFSm aSls t ear secure re-
this season. The Balkan Peninsula has Jared
badly during the past three or four weeks; tor
| rental downpours have been prevalent oil the
spring in that part Of Europe, and for the last
three weeks immense damage to crops and
property has been wrought in Roumania, Bull
garia,, Roumclia, and parts, of South Russia.
This damagem may very possibly have cut down
sula considerably. With the loss Of two or
three million quarters from this part of Europe,
% eFfane the wifi RlFq peSaire two th or th Mssf @iIlio hG qTar,
ters more than she has taken this season, there
seems m;,R no d prospesctd 0 of supply sS7 bstnE able to catch
of wheat Z DO 10000 9,ooS bushels IS compared mp sdr With
notion may be obtained Of the demands upon
our granaries from abroad, In addition to this,
ron there will be e small on account Of the ap.
pearance Of locusts.
While discouraging reports about. the wheat
crop como to us from other countries, the re-
ports from the wheat-growing regions of tho
United States are most encouraging. It is now
wheat, in the United States this year will exceed
$50, OOO, 900 bushels. When IL is remembered
WIT Wiii n ,ss% that hat n nrSse" wh Ds10 to supply ply its S'S de-,
mand. the wheat farmer has reason to be glad
that he is alive. From all over the West and
Southwest como most favorable reports OF this
In Ohio tho wheat is reported to be in good
about ten days later than usual. The reports
from Minnesota state that a crop OF about
This means that in Minnesota and the Dakotas
about 200, 200, 900 bushels will be harvested. In
Indiana it is estimated that over rs per cent. Of
q full crop will be harvested.
This condition OF tho wheat crop here and
abroad. so the business men say, means thnt,
with the coming OF early autumn, and probably
waiting for during the past six years will put
in an appearance. They point To the fact that
1901 was the last good year the wheat growers
had. 1t was the last good year the country
had. Said n well-known business man yester-
day:
THE condition of the wheat market is the
first sure sign we have had OF returning pros
perity. The American farmer has the goods TO
sell and the world is waiting to buy them.
When foreign gold, or any other gold, jingics
In tho pockets of our farmers. then we shall
have real prosperity and not before"