The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-11-06
WHEAT STUDENT
STUDIES FUTURE.
Now That Russian Riots Arc
Over Demand for Flour May
Decrease.
IS NO RADICAL SLUMP [. YET
Inability OF Lack Of Railroad Ia
ciIitics to Transport Wheat
May Effect Prices.
IS NO RADICAL SLUMP YET
special to The Tlmcs-Dispa,ch.)

tspeciai to The Times Dispatch.)
CHICAGO, Nov. 5.--Now that the RUS
San excitement Is kubsiding, tho wheat
student Is more energetic than ever In
,iylng to measure the value OF the va
r;ous Influences that enter into tho mar
ket. That the riots and prospective rcvo-
luton in the Car land gave an abnor-
mai stimulus 10 tile market Is admitted
I'LL sides. The partial subsistence OF
the trouble and u consequent softcnlng
III prices proved the case. but the Sig
iiiiicunt tuiig was mat there was no
radical siulnp. Now the question arises,
Ii the support OF values duo to the
muscle winch HE bulls are cxertinK, or.
~ there inherent strength In tho general
situation? The correct answer doubtless
should give credit both TO fictitious In
i.uencc and TO natural laws Of trade.
Where the line should be drawn Is
matter. which each man must decide for
himself.
Aside from these considerations. there
arc others which must be weighed in
casting horoscope OF tho future. Not
u, things are exactly az they seem. be-
cause OF incfiicient railroad facilities,
There Is Il theory that II wheat and -four
were handled promptly as they arc Of
fered for shipment, come OF the bulllsh
interests would be inclined TO modify
their views. 1t also is proposed that a
Change In the policies Of miliers this
season has given an aspect to the wheat
and -four trade. which Is an Illusion.
Much has been heard all season OF the
immense demand for -four and Of the
unusual consumption of this commodity.
st,.>., ~, In I1n fft.
American people. prosperous as they
never have been before. arc eating more
OF the hgh-priccd cereals than before.
They can afford wheat, where they used
10 be content with corn-1neal
a shade OF doubt however has arisen
IN connection with the alleged craze FOR
wheat bread. from the fact that the
stock OF flour In Chicago now Is nearly
three times az much as at tho CORE
spending TING last yenr, and much more
than the average for several years II
IL n fair assumption TINT there IS
similar increase In stocks elsewhere. II
that be true. 1t probably means that
tic large milling interests have changed
their methods-that Instead OF running
their mills Mt frcnzied speed and then
closing down temporarily, according as
the market for flour was brisk or Qules-
cent..,hey arc working full time and
sending their product to the centers OF
distribution, whIlo the noodtide OF the
wheat movement lis in protFess and
freight rates are at their lowest.
The Northwestern Miller Is authority
for the statement that3th output Of four
IN the Northwest las week was only
5000 barrels short OF the output the
week previous. which was the record
breaker OF the year. Tho exports from
Atlantic and gulf ports the week previous
were 10000 barrels. compared with $1,000
Z barrels the week corresponding a year
ago.
Toward tho close OF the week reports
from tho Northwest recited falling
off In the demand for wheat from mtllers
ny Minneapolis and a probable increase
In tho stocks at Duluth. advices from the
latter point saying the sales OF wheat
were confined largely to tho macaroni
variety. Alllcrs in the Southwest on
tho other hand. were willing buyers at
sustained prices.
y well known authority says the mill
csS IL the DakOtaH and Minnesota re-
Quirc about $50, 000, 900 bushels OF whcat
for grinding and that tho farmers need
GOD ubshcls for seed. These three
States are estimated as having raised
1890 600 bushels. leaving $1,000, 900 for
elevator an dmilling reserves and to sup
ply mills further east and possible ex-
port demands. Eliminates from several
sources are that Nebraska has marketed
/. from so to 65 per cent. OF her crop.
These statisticlans say wheat Is now
being moevd out OF the elevators to mako |
room for corn, and that there probably |
VIII DO no great resumption of wheat |
selling before January and possibly not |
before spring.
Advices from Argentine are bearlsl az |
to the weather and crop conditions, which |
are pronounced excellent and bullish In
tl,n, III .cfF c1,t nyra q
making moderate purchasers Of North |
Ell, spring wheat and the trade confi-
dently looks for a largo increase IN this
movement as tho tilno TO restabl!shtng
Il tariff wall against this country mp
Jroaches. Small receipts fro lnArgentine
are beginning to cause manifest anxiety /
iii, the United Kingdom, because there Is
uncertainty as to what Russia will be
able to do In the way Of resumption OF
eXports in case tho political situation
there does not remain complicated and
strained. a bull offering from Minneap-
oils is that northwestern millcrs are sold
ahead for ninety days, and that they VIII
grind 1000 900 bushels OF wheat week
I'M the first of the year II they do not
soil another barrel Of flour.
Corn luctuated with wheat, and the
close OF the weel. fonud It under some
bcarish pressure, despite The many and
rather startling reports Of poor yield and
poorer quality of grain, as disclosed by
tho work of husklng, Advces Of this
kind were fatty denied as fast and often
MS they were put out, Tho result was
their influence was nearly nulllted Dry
rot in tile cobs, quality impaired BY too
much moisture, big slump in the est!-
mated yield of Nebraska and Missouri
these are specimens of the information
Jlsed up with suspicious emphasis,
Samples of corn received here indicate
that the crop is quito MS good as earlier
prospects showed 1t to be.
Tho end Of the week found consid-
crnble abridgment of business and some