The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-06-19
Local Prices Show Considerable
Gain Over a Week Ago.
CHOICE eLUEsTsM is SCARCE.
Prevailing FURRY in Chicago,
Coupled with Gain of Several
Points in Liverpool. Cause Better
Prices in ScnttIe-Thc Chinese
Troubles and Reports of Crop In
turies Are Influences ut Work.

Reports OF probable crop shortage in
the middle West, the impending conflict
in China and the distinct tendency in
London toward better prices nas caused
a substantial advance OF the price OF
wheat in Seattle. Liverpool is the heart
of the wheat market OF both hemispheres,
and the record of quotations there mere
ly indicates the results OF influences at
work throughout the rest of the world.
In Liverpool there has been gain of sew
eral points during the past few days. re-
sulting in lively selling In Chicago. Tina
gain in Liverpool reacted on Chicago. and
yesterdays reports showed a gain of four
cents in Chicago as compared with last
Saturday.
As a result Of the conditions outlined.
blue stem wheat was quoted in the
Seattle market yesterday at a figure con-
siderably higher than has been offered for
several weeks past One of the prominent
Touring mills of the city posted an omer
of 60 cents for choice blue stem. Inc
price a week ago was not much over 50
cents. Even at the advance no sales or
any considerable magnitude were report
ed
The situation Is not without its interest
ing features. The exporters, who deal
in bear news almost exclusively, are not
inclined to make much of the stir IN chi
caeo. where the market is cents higher
than at this time week ago. The wheat
growers. however, see in the changed con-
IL
and are thereby encouraged TO hope for
even better things.
To speak by the record. Chicago wheat
has gained approximately cents during
the past ten days. Not only is this true.
but the highest price paid yesterday was
cents higher than the highest price paid
on Saturday. on Saturday the highest
quotation recorded was 75ss per oushel,
while yesterday the market reached 1885
cents. closing at 7SA to 1873
Various views are entertained regarding
the wheat outlook by Seattle wheat hrOk-
ers. Said one well-known buyer yester-
day:
depend on that in Chicago. We figure al
most wholly on the Liverpool market.
which has shown of late an upward ten
dency. The advance In Liverpool, how
ever, has not been so great as that record
ed in Chicago, where there has been con-
siderable of furry. However, there are
good reasons for believing that the gain
over a fortnight ago will be permanent,
with chances in favor of still more pro-
nounced increase"
A well-known exporter said: Don't
ask me what will be the price of wheat
n month hence. l don't know. and no
other man has the advantage of me. 1t
Is true that there has been a pronounced
increase in the price of wheat on the Chi
cago market with slight gain recorded
in Liverpool. The Chicago furry has been
interesting. It's direct results in Washing
ton doubtless will be that the people who
are holding wheat in Eastern Washing.
ton for higher prices will proceed to set
a better grip.
However. I do not look for any re-
markable advance. The price of export
wheat Is largely governed nv the charter
rate on the coast. Charters are scarce
and high. There is no prospect Of any
change in the situation. While charter
rates remain high there is naturally lit
tie prospect for any great increase In the
local price of wheat"
Nevertheless, II Is true that choice blue
stem for milling purpnfes Is scarce, and
rated a a gain of 4 cents per hushel over
the price ton days ago. For No. / Lit
tie club the exporters are Offering practi-
cally 2ix cents more than week ago.