The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-08-25

NEW YORK. Aug 2t-A dispatch to
the World from London says great ex-
citement prevailed on the London. Liy-
erpool and Glasgow exchanges over tho
sensational advance in the price of
wheat A World representative spent
some time on tho London exchange and
spoke with leading authorities in the
trade on wheat prospects.
Oscar Erich, manager of the great
house OF Rail- Brus.. said: This big and
sudden rise has taken US completely by
surprise over here. don't consider II
Is justified by circumstances. At the
same time our market is flrmer than
ever and the price will hold for some
time apparently. II Is due, In my opln-
ion, TO various causes, ono being the big
bear account, which was opened in New
York. Operators got frightened and
closed II 10 cover themselves. / would
not venture to give definite opinion on
the prospects OF prices, being in my
mind, SO purely speculative and surprls-
ing"
Mr.. Wood. OF the leading firm OF W.
r. Wood & Company OF the corn eI-
change, Mark Lane, said: "The outlook
depends. in my opinion, on the financial
situation on the other side. II there 10 no
money trouble In the United States, I
believe wheat will so up another twenty
cents. They nre importing wheat this
year from American 10 the Cuban pro-
vlnces where they have never import
ed II before. We and the whole Of Eu-
rope are In tho hands of America. II Is
the only country we have now to look
TO for our wheat. Millers here are buy
ing from hand to mouth. holding back
for drop In prices which do not be-
lleve VIII come. A poor crop In Europe
generally Is the cause OF the rise-a per-
fectly sound cause. II some OF your
milllonaires 80 into wheat, having made
a good deal out of railways from which
they are now withdrawing, the boom
Will last"
Frank Wilson, of Montegredieu, Eiler-
by & Company. one OF the Oldest.
wealthiest and most respected firms In
the London trade said:
France is a great factor IN the stu
alton. l have seen n French buyer Just
come over from Paris, who said TO mo
OF the present French crop: "The moro
we see OF It the less we like It."
There was shortage In France OF
seven million quarters and they have
already bought about three millions. II
the shortage is over estimated they may
be selling instead OF buying O day or
two hence. In that case prices would
drop instantly. Here Is sample Of a
parcel OF wheat which offered six
weeks ago at twenty ehilllngS and for
which / have refused this morning for
ty-one shlllings That. is hard fact,
which cannot be blinked. But II could
tell you dependently what the prospect
OF pricesis. could make my fortune Ia
a week. l give you my opinion. be-
l0vo the present price, or something
near 1t, will rule for soma time to
come"
Seth Taylor, far and away the biggest
miller OF England. said: IT believe the
rise springs from natural conditions.bu
| IN all my experience have never
known an advance more considerable In
so short tlme without any very strik-
ing change in the situation TO account
for II. There is, OF course, the fact that
the whole continental crop IS short and
n the weather breaks In the North OF
England before the harvestis over you
win have the price Of wheat UP another
FIVE shillings like q shot. The weather
| looks pretty bad Just now. The condh-
| tlon OF France apparently Is very SER
ious. The French government In order
TO save themselves from the socialists
and anarchists must take OF the wheat
duty If the present prices are maintain
| Cd -