New-York tribune., 1897-08-04
RECORD PRICE FOR WHEAT.
SEPTEMBER SELLS FOR S4h CENT A
BUSHEL.
THE MOVEMENT OF onAIx-A CAR FAMINE FOR
ALI. NORTHWESTERN RAILROADS EXPECTED
r.,Ir- xyrsT-J-PXARD


CONFIDENCE IN THE wEsT-UPwARD
TENDENCY OF STOCKS.
new record price for this years wheat was
made yesterday when September wheat Cwheat
deliverable in September) sold on the New-York
Produce Exchange at SIN cents busheL This
the closing as well as the high price, ana
was n gain Of 2h cents from the closing price OF
Monday. Prior to the present upward move
ment the high price for September wheat was
S1% cents on April 10. 1t jumped to this price
from 74% cents the day before on the outbreak
of hostilities between Greece and Turkey. Yes
terday's sales OF wheat for export were seventy
loads to go from New-York. and thirty loads to
go from the "outports.' or one hundred loads
altogether load consists of eight thousand
bushels. that the sales for export aggregated
eight hundred thousand bushels.
Sales Of stocks yesterday nearly reached
47j.OOO shares. Sales of bonds almost
$4.OO0.0O0. the heaviest in months. The whole
tendency Of stock and bond values was upward.
Under the stimulus Of large crops and the GER
tainty OF a ready market and an early move
ment Of them, there has been a steady advance
in the stocks Of the so-caed Granger railroads.
and the other grain-carrying lines. Yesterdays
net advances in some Of these stocks. comparing
the closing prices with those Of Monday. were:
Burlington and Quincy 1% Chicago Great west
ern q, Kansas and Texas preferred Is. Missouri
Pacific 7s Northwest IL. Rock Island 1h and
st. Paul 1%. The stock Of the Chicago Great
Western has been listed on the Boston Stock Ex-
change and is now actively dealt in there
A. Oppenhem, vice-presdent Of the Chicago
Great Western Railway. said yesterday: "All
the Northwestern railroads will be in the midst
of a car famine within thirty days. Every rail-
road is hard at work getting cars ready for the
rush Receipts OF corn and wheat at Kansas
City for July were the largest on record. Busi-
ness on the Chicago Great Western never was
so good. Crops have not been injured in any
section"
Thoman's August crop report estimates the
winter wheat yield at 500 0O0. 900 bushels against
$50 600 OO0 estimated last month. and 2I0,000,OOU
harvested last year. The Kansas crop is put at
GjOOO.OOO bushels. and the Texas Kansas and
Oklahoma crops at SO, 00O,0 bushels. Including
Missouri. Thoman estimates in the Southwest a
crop Of winter wheat Of 05.0OO.OOO bushels,
against 100000 July /, and 59,0O0.O00 bushels
last year. Both crops are placed at 3SO,OO0,OW
bushels against 5G0,OOO,0OO estimated July l,
and 145 900 bushels more than last year.
This makes Thoman's spring wheat estimate
225 900 900 bushels 1000 bushels less than
on July l. Corn improved 3.3 per cent In July.
and the condition is S1.7. against 30 last year.
In Texas Kansas Nebraska and South Dakota
the condition of corn fell off in July.
General Samuel Thomas. who has just returned
from the West. where he has been studying busi-
ness conditions, said yesterday: Il never saw
time before when you could not meet man man
either on the train In shops, or hotels from
Western towns who did not have something un-
pleasant to say about the times. NOW IL Is the
reverse Every has something good 10 say.
V-b oil httllc
cialy the crops and the future prosperity or TINS
country Ii is surprising TO see how the silver
and Socialist talk has disappeared Increasing
prosperity is ,lling off these fancies raster 'nan
anything else could. The fact Is people In the
West have had nothing else to talk about 1or
the last year or more than their troubles. Ihey
had little work to do. and were not MAKING
money Now they have something to DO ana
they forget their troubles and will not listen to
nolit,cal agitators I think we are In for period
Of prosperity for several years to come.
The stock Of the Consolidated ras Cpn,py u,Ipnas,
Yesterday sold at 1872 which was the highest
price it ever touched. 1t closed At lyo. wnicn M
made the gain for the day ~. Inc low Piicoe
for the stock this year was lob12, OF Jahua,y
The advance from this price to YESTERDAY hIsn
nrice was ,Jib and to yesterdays closing price
531s There haye been several reports III Wai
Street to account for the large rise III Chlcaso
Gas. Ono was that an extra diviuenu maS S,,I ~
he declared another was that the regular diVi,
derd rate was to he increased from 10 w OF -
per cent and third was that the ConsoIlua.eu a,
company was to absorb all the other New o oIm
gas companies. The notion is strong III Nai,
stree. that plans are maturing for a general
con nsolidation of the New-York gas companies
Despite the increasing use OF electricity lhe
gas companies are more prosPefouI t a.,no ,nu and
Gas Is rapidly supplanting coal Tor neatihs anu
cooking and the use OF gas u.s. IN the country,
constantly increasing. even though less may pe
consumed in lighting. In addition TO tnese
facts the growth of the city nsures a continu-
ance of the profitableness Of the gas companies