Polk County observer. (Monmouth, Polk County, Or.) 1888-1927, 1904-09-30
HOP PRICES SOAR HIGH
Principal Feature is Buying for Ex-
port Although No Samples
Are Yet in Europe.
(salem statesman.l

(Salem Statesman)
There will be something doing ii
the near future, although the marke
mas not shown much activity of late
This is no doubt due to the fact tha
the growers have ''taken tumble" tc
the real condition of affairs and ar
in no hurry to get rid of their hold
lngs, especially while the outlook fol
better prices is so brilliant and sucf
an apparent shortage in the worlds
supply exists. This latter condition
with possibly few exceptions, is frankly
admitted by the dealers of Salem, and
especially those who have kept them.
selves posted upon the situation.
Scarcely a month ago, or about a
week before the harvest, the consensus
OF opinion among hop dealers,
although many set their figures con-
siderably higher, was that the state
yield would not fall short of 81, 1000 to
10000 bales. Some dealers were certain
that the yield would not be less than
100000 bales, and others considerably
more.
The harvest, however, produced a
revelation to all of them, even the
most conservative, for while the hops
seemed to be plentiful enough upon
the vines, they turned out to be light
and failed to come up to the weight
that was expected Of them. The result
is that the yield will not exceed $4,000
bales, and probably not much more
than 10000. Quite difference be-
tween these figures and the earlier
estimates. 1t does not take much of a
grower, in point of intelligence, to per-
ceive very readily what effect this
state Of things is bound to have on the
market especially since the English
yield will fall 100000 cwt. below the
average, or that Of last year. And
England depends, to a great extent
upon Oregon for her supply of hops.
The total American crop, according
to the latest figures will reach in the
neighborhood, not more, of 23O, 900
bales. The American consumption is
at not less than 100000
bales, leaving a surplus of about
10000 bales in America The estimated
old stock on hand is about $4,000
bales, making total of $4,000 bales
IN America, available for export. The
English crop this year will not exceed
25O,OOO cwt. and the consumption will
reach 100000 cwt., leaving deficiency
or shortage of 100000 cwt,, or about
25O,0OO American bales. The Conti-
mental surplus is given at $4,000 bales
available for export. These figures
will leave shortage of 10000 bales
N the worlds supply for 1904.
England has always been a heavy
importer from the United States and
Oregon, which produces the
'est article for her needs, and it is
luite certain that she will call upon
his state for much greater quantity
han ever before. She is an exceed
ngly good customer, and, since she is
compelled to have the goods she will
10 doubt pay the price necessary to
get them. There is considerable in
Iuiry for hops and plenty of offers in
he hands of the dealers. but. owing
0 the strong condition of the market,
cry few, if any, sales are being made.
IN occasionally small lot of good to
rhine quality is let go, but these are
o few that they will have no appreci-
BILE effect upon the market. Better
han 26 cents has been paid, and there ,
re those who would not be surprised
the price mounted as high as 40 :
ents before the season is over.