The San Francisco call., 1897-07-28
FARMERS ALL
ARE JUBILANT
The Price Of Flour Goes
Up Fifty Cents in
Ten Days.
G.. S. Laumeister Gives His
Views on the Wheat
Market.
The Tariff and Klondyke Gold Has
Helped to Restore Confidence
in the Country.

w I'LL Wucdt dt Sl 40 Us against % CSu Is
for the corresponding month OF 1896. and
flour at $4 so as against So 40 per barrel in
July of last year, it would seem as if Cali
fornia was about to assume its original
station among the foremost States of the
Union for good prices and high wages.
Flour has jumped up 80 cents barrel
inside OF the last ten days and other
products are keeping pace with this ad-
vance.
In speaking of the increase in the price
of wheat during the past month G. S.
Laumeister, the millman, said:
The increase in the price of wheat and bar
ley within the past month is nothing more nor
less than return TO the prosperous condition
OF California. We suffered on this coas more
through sympathy with the suffering of the
Eastern people than from any real cause of
our own Our State was never depressed
through Its own fault.
Yes; attribute the signing of the Dingley
bill by the Pres dent as one of the causes for
restoring the country to condition Of pros
perlty and affi uence. 1t cannot be denied that
during the entire administration OF President
Cleveland the condition of the country
| unsettled. Now that the tariff is disposed OF
and a fixed principle establs he'd the country
will undoubtedly take boom, SO to speak.
The gold discovery in Aiaska, 100, will help
this, not only on this coast but throughout the
East. In addition to this the scarcity OF wheat
in France, Australia, South America and India
must OF necessity raise the prices in the United
States
1 look TO q bright future wi thin the incoming
year, and am in hopes that our darkest hours
have passed.
f. A. Bresse, grain broker. said:
1t has been a long time since wheat-growers
have had reason to feel jubiant. Advancing
prices have been recorded for IL short period
each season during the past three years, but
they came after the farmers had SOLD their
wheat 10 the middlemen. therefore no benefit
was derived by the producers. change has
been brought about this year which has IT'S
alton upon natural causes. Every wheat
raiser VINO is within reach of newspaper has
learned the conditions OF wheat crops abroad.
1t is not an exaggeration to say that no wheat
growing country other than America and Cam
ada will have anything like fair crop
France leads the countries where the crop is
short England will harvest at best not over
a two-thirds crop. Hungary, instead of being
an exporting country, may find it necessary to
import wheat. India and Australia and Ar
gentine are out of the exporting business for
several mon tbs TO come.
Latest advices from Australia indicate re-
quircment OF large Quantities of Californian
wheat 10 supply wants until their harvest,
which means January. South Africa will draw
heavily upon American wheat this year.
Russia's condition cannot be other than very
poor, as the censorship OF that country has
forbidden crop condition reports to be sent
out.
Shipments from Russia during the past two
months have been far below those of 1896
during the same perlOQ, ana 1897 SnlpmeutS Is
from the Argentine are many millions less
thnn those of 1896.
The one importan Mt item in the wheat situa-
ton is the extremely low Stocks of millers in
all countries. The experience of the past
three years has made mil ers reckless of their
own interests. Heretofore they have been
flooded with wheat at harvest time,
Things have changed. Farmers are awake
to their interests and will not part with their
wheat al unreasonably low prices. They know
condlt warrant od-time prices and are
| plo yrfr q f1aI norhc ~ thof And E,,r
have an Exaggerated idea of Americas wneat
stocks, but while this seasons crop rromises
to surpass that OF 1896 by 100, 900 bushels
the fact must not be lost sight OF that 1.-THE in
visible supply" that is in farmers hands is
probably 100000, 600 bushels short of last
year How any one can figure out differently
is beyond com prehension.
Another fact that bears strongly, which
any are overlooking, is that Europe requires
thirteen months Supplies this crop year in
stead of twelve--a very uncommon occurrence.
Many argue that the decline in silver must
ect as wall against wheat advancing One
cannot eat silver, however, but must eat the
products of wheat. Countries where silver
values affect the price of wheat luckily have
no wheat to sell this year.
lew figures regarding wheat conditions
may be OF value to those who are studying the
situation. 1t is not high estimate to give
the invisible a visible supply OF wheat or
July l at 30.000,000 tushels The Govern
ment Agricultural Department estimates win
Ter. and spring whes a, 10000, 900 bushels.
This would make total of $4,000 900
bushels. These fgures are not far rom cor
rect Our home wants are estimated at 4.O9
United States is 10000. 600. making in
round numbers 100000, 900 bushels. a very
low estimate seeding, Ling oeo etc; 100000 bush
Exports from the United states, crop OF
1896, were 156, 600 900 bushels, making upon
this basis 511 100000 bushels that are re-
quired from American stocks. Unoer ordinary
conditions these figures leave surplus of So
600 900 bushels. Uniess foreign conditions
have been misrepresented, which is not at all
likely, it is sale to say that America Will be
called upon to spare 225. 900. 900 bushels for
export this year, which would exhaust our
stocks. These figures have rot been arrived
at for specula tive purposes; they are cold
facts. which time will prove correct, re-
gardless OF temporary actions of the market
A cereal which has been strong factor in
whea depression has been corn. In 1895 and
1896 the corn yield WAS immense, reaching
9 800 600 600 bushels last yea. The exports
oi corn for the crop year ending July 1 were
175,000,O0o bushels, equal to any two years
previous.
In one week 100000 were cleared from
Atlantic ports. The conditions this year are
not favorable Reliable Information gives the
shortage at 500, 100000 bushels. This would
indicate on July 1 yield of 1850 900
bushels, but severe damage has resulted since
that time, which must have reduced this esti-
male.
Before corn came in to general use abroad it
required $50, 600, 600 bushels for home re-
qulrements, or about what is now expected of
tDe coming crop. mdHy arg ue tnHC Oiu stochS
are heavy, but that is a mistaken idea. Corn
has been used for fuel throughout Nebraska,
Iowa, Minnesota ana The Dakotas during the
past two years. At market quotations ruling
during the periods mentioned il required $12
worth of coal to fill the agency of So worth of
corn.
Another feature which low prices bring
about is the matter of waste. Corn has been
far below the cost OF production aud is to-day.
There has been a firm undertone to the mar
ket of late which promises enlargement in tire
near future. The higher corn goes the better
for wheat. The sky seems clearing for the
tiller of the soil-surely better late than never
Jud gment Libel Suit.
Judge de Haven of the United States District