Alma record. (Alma, Mich.) 1878-1928, 1899-03-17
DOLLAR WHEAT"
So Says Mr.. Armour.

the small Spectator. the wheat grower
and the shipper get their ears close to
: the ground and listen to MIR. Armour
prediction concerning the final price OF
!: May wheat.
1.-The old wizard of the wheat pit
has not yet publicly declared his belief
that the good old dollar mark will be
reached again. but those who are in his
confidence know that this is his opinion
and their whisperings have gone out
simply rs vanguard on his expected
prophecy.
There is no double dealing on Uncle
Philips part when he declares publicly
what he believes the price of wheat will
be- and what he purposes to do To put
1t there. If he doesn't want to take
the public into his confidence, he keeps
stlli and let's them do the guessing; if
he does take the public into his conf
dence' he means what he says The only
point about it is that by the time he
makes his public announcement. his
conidants have already gotten the
cream of the bargain. SO their whisper
ings therefore are (as in the present
case) good guides to good thing
Still there is enough left for the great
outside public. who believe in Mr.
Armour'S sagacity and power to reap
a goodly harvest for themse Ives by fol- |
lowing in his course.
Backing up this prophecy Of Mr.. |
Armour'S that wheat will 90 back close |
to thu dollar mark before May lst.
comes the rumors OF damage TO winter
crops in many States and the shortage
OF The worlds crop.
According to Bradsueets the worlds
stocks are now lI6,0OO.00 bushels
against 100000 last year. and
5j,00O,oOO in 1897
The stock in thi, country is $4,000.
GOO bushels, against = 600.
600 last year, and 100000 in 1897.
European stocks are 81, 900, 900 bushels
against 69,0O0,O0 last year, and TO-
600, 000 in 1897.
Concerning the year consumption of
food stulls estimates have fallen far
short OF the actual requirement. No
less than 36,OOO.000 bushels of wheat
have disappeared from sight in this
country above last yeal 5 figures. Much
OF this can be attributed to enlarged
needs, thoagh considerable total has
doubtless gone to ill up the places
swept bare by the high prices of last {
year.
According to the Corn Trade News.
not only are weekly requirements great ,
'r, but the crop of 1898 will be called
lpon to furnish food for a larger mum.
Der OF weeks than is ordinarily the case. 1
they say
There is no Disgusting the fact that
he crop Of 1897 barely went around.
md that the new crop Of 1898 has been e
Irawn upon from a very early date. 9
thus the season we are now living in >
vii virtually extend over thirteen or
ourteen months. An estimate of the '
Continental requirements in August u
vas $4,000 quarters per week by some o
he estimate of the News being 40 900 q
uarters. Events have proved that the t'
yerage weekly consumption to date n
;, at last, above 100000 quarters u
;eek. ID
With the total European requirement u
$4,000 quarters, and domestic con- p'
lmption larger than heretofore. it is d
n open question whether on not sup II
lies will 90 around, and this open P'
uestion takes away much Of the ques- It.
on as to whether wheat will touch the ne
ollar mark IN
There ought to be profit OF at least on
yenty points to those who get on the Mt
ght side OF the wheat market in the IL
ext two months. co
Still another strong point is that the Ut
e Wall Street operators who bought WI
, wheat in January are holding on 70 cit
with both hands. Their stocks have IN
ZEN increased if anything during the
cent pause in stock gyrations and pr
ey evidently consider it AN absolutely
fe investment. til
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