The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-01-26

WHEAT-Wheat has advanced during
the past seven months about Csc a bushel.
During this time practically all the ma
chinery of bear speculation has been
against this advance in wheat. The bears
have peddled dope and bunko news
from soc up. They have ridiculed facts,
ignored conditions, COMPOUNDED COMPARE
sons, laughed at no export uemand ana
ridicuIed the causes that brought 20,000,00 O
bushels of wheat from Canada and our
Pacific coast into our visible supply
They viii harp on chestnut issues and
demand OF every buyer an e~xplanatIon
why he buys and how high he expects the
price to go, ct al. Then use all known
methods to thwart an advance.
They sell almost every day more con-
tract wheat short in the Chicago pit for
May delivery than there is in our visible;
then cry corner, manipulation or
fion if the market advances. They did this
last July i'll the sos and for hVe months
have cried corner, congestion, manipula-
ton. acute position. a clique, deal, ct al.
What clique did it? Looks like a bear
clique playing against too strong q posi-
ton to be affected by false statements
Prior to three years ago they were able
TO dictate the price of the rover wheat
were liberal. consumption less than now,
and their concerted action mad less natu-
raj resistance. -
with the value of all exports of bread
stuffs. as given out by the government,
IN 1901 the United States grew 74s, 100000
bushels of wheat and exported S2oa0JOV9
worth of breadstuffs and mad a L2efaI
wheat reserve at Tx CA0
cotton EXPORTS were then 3O0,OOO.OO0. In
1eC2 the United States grew 6lO,OO.Oy9 BUSH
els of wheat and exported but SlS4,OJ9.o0o
worth of all breadstuffs, and mad a less
vrheat reserve at the end OF the year. RaW
cofton exports were then $290,Ooo,OC0- In
1on2 exnorts of all breadstuffs equaled
500 o00 COO Then the wheat crop grown
vraS e9e. OOo. COO bushels and reserves less
fhan a wear previous. Raw cotton exports
we're then 1918, 600, 600. In 1904 all bread
stuffs exported only aggregated &,vVS,VcJ-
reserves at the end of the calendar year
11eTe At practically the lowest point on
,aoord and quality the poorest. The crop
va Given out to be but 552,O00VO bushels.
Teit6er conservative bull or bear Deueves
# much exceeded the equal OF 5o0,OV0,UJ0
bushels of good wheat, or equaled nome
Cons1mption The government reported
fbe consumptiOn Of wheat IN the United
Sfa+es for fne 70 months June 80, 1904, as
.axceedfng $4,000 u bushels Exports OF
49, cotton for the calendar year 1914 were
sSeS mn 000l all of foodstufs such as bread
Sf19ffs live stock and provisions as Dut
S9S3 oNo OA0. In the y months enolng 1911
exports Of the same kind OF fo~oostuIs
e@1oIed 500 qa.Og0. Then at the end OF the
sSsson ample reserves were left over OF
vvhaaf corn. oats, hogs. sheep. catlle ana
II r:o,1s kinds Of provisions. July l. lSJ4,
of all these edibles were unusual
~ snail. in fact. at the minimum
The whole rise in wheat since last June
hos beeu accustomed b. an lnSuH1clent pro-
d11o4io1 in this country for our home
1vanfs This shortage is so great that II
80 advanced wheat legitimately from
The 6rst dav the 1904 crop began TO come
- r1arket- It is estimated by Statlstlclan
w. Snow that 50 per cent OF the 4se4