The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-03
The newspaper referred to says. in ad


ton:
Thanks to the big yield in North America
and France the worlds total crop this sea-
son is the biggest on record, just SURPRISING
the previous banner crop of 1894. Unlike that
season, however, the present crop has been
preceded by two or three lean seasons.
The English people have a perverse way
Of measuring by what they call quarters,
instead of bushels, the Americans mea-
sure. To properly arrive at result, where
quarters are used in quotations from English
journals, it is necessary to multiply by to
arrive at the number OF bushels The fol-
lowing quotation is also made from the Corn
Trade Review, with the above explanation to
the reader
During the past four years there have been
49,OOO,O00 quarters less wheat than in the four
years preceding 1S95-the average crop of the
past four years being IL, 600, 600 quarters
smaller than In the four years 1894 Then
again the remarkable scarcity of old wheat
has to be taken into account in making com
parsons between the supply available at
former dates and that hand at present
AS we showed IN a former review, the dis
crepancy at present is very striking, and that
without allowing anything for the well known
deficiency In the Invisible supply carried over
| by farmers in many countries Of Europe
AS far as .ascertainable, the following fig
ures show the worlds stocks Of old wheat
on lst August in the present and preceding
four years: 1898. 1000 600 quarters; 1897,
900 600 1896, 10000 600; 1895, 81 900 900; 1884
From perusal of the foregoing it will be
seen that In the year 1894, in addition to the
Dig crop, there was large reserve carried
! over from the preceding season, whereas in
the current season with a big crop there is
the smallest reserve Of modern times
The crop and reserves of the respective
seasons are shown in the following. totals:
1898 32S, 100000 quarters; 1897. 298 OOO, 900
5Ss6 200 80 5000; 1895, 1923, 900 600: 1894
The Northwestern Miller, in its issue of
| IN
situation:
The question OF yield in the Northwest
seems to be about as has been estimated -
though there are some sections where the
yields are smaller than anticipated On the
other hand. the yield is turning out more in
some other sections. but on the whole the
early estimates may not be fully sustained
d9 IN continues to show, a large amount
OF grain that goes below No. l northern
ana while the damp grain is not coming in
| so largely as carly in the season there ts
sun sun considerable arriving, with the promise
mat that class of wheat will decrease later
IN the season. when stack threshing begins
There is great deal Of No wheat comm :
In. although the arrivals of that grade show
n-gh quality that is taken very readily nv
! mlllers drawing their supply from the North
west. INC 4Nolen-
In speculative circles there are few deveI.
! opments, with advices largely repetition az
| preceding weeks. When the rise In whaat
| prices began, during the middle of last weeIr
| 1t was attributed to a short interest that wa 8
CoFeleu, anu LldC uurlnS the process of liUui-
dation prices strengthened, but later weak
| ened for lack of support. Foreign crop adj
! vices are not favorable on the whole as q
few weeks ago, which, with light exports
| from Russia. encourage the expectation of .
! lighter crop in tAat country than had been
| looked for. Drouth and locusts are reported
| as impa.ring prospects for a new crop in
| Argentine. Foreigners persistent buv-
ers of deferred futures, and their markets
| seem ready to respond to advances on this
! slice. Export clearances increased and for
noCf Cd
primary receipts in the most of this country
are below expectations
Farmers are not expected to sell verv
heavily unless they get more satisfactory
| prices, and many Of them are storing The
overrun from their granaries In railroad ele-
Vators. 1t Is noticeable that winter wheat
/ sales and arrivals in terminal markets have
| Increased somewhat There appears To he
no good reason to expect a considerable de-