The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1906-08-24
STORING WHEAT.
Farmers Around Salina Are
Holding Their Grain.
The Prices Too Low to Warrant
Hauling to Market.
EXPECT HIGHER RATES
Market as Low This Week as for
Four Years.
Cause of the "Slump" Is Ex-
planned by the Millers.
HIGHER RATES

salina, Kan. Aug. 24.-The Journal
says:
Very little wheat is being hauled to
Salfna at present. It is the consensus
of opinion of all the mill and elevator
people here that the farmers are stor-
ing their wheat in anticipation OF
higher price. Last month the Shelia-
barger Mill & Elevator company re-
cefved more wheat than they had IN
any month during the two previous
years. but the amount which the farm
ers sold during July was less than thal
of any month during this time. rms
shows that there is a feeling That the
Price will 90 up, and that wheat is SIM
ply being stored Many farmers are
now in a position to store wheat LOT
tn themselves. and are not Drlngillg IL -. 70
town. This is true not only OF Same
. county but Of all the territory west OF
us Several SaIina elevators and mills
have branch elevators in the western
part of the state, and it is said that the
same conditions prevail there IS IN
Saiina.
Wheat was as low on Tuesday as it
has been for four years The reasons
for the low price are difficult to ana
I'VE in detail, but the general law OF
supply and demand may be SAID 10
regulate the price The Dig Wnedl
crops which have been continuous Tor
the past few years have led to pro-
duetion that is in excess of the demand
at the old prices. The northern states,
such as North Dakota, South Dakota
and Minnesota. as well as Canada, have
produced immense crops OF wheat IN
the last few years. Some new sections
in the west of Canada have recently
been Openedup to agriculture and have
been found to be excellent wheat coun-
tries. Mills have been growing in
these northern wheat belts and are
competing with mills located in this
and other central states. The conse-
quence is that the price of wheat has
been gradually reduced.
Heretofore. the export trade has
taken a large share of the production
of -four. The Salina mills as well as
almost every mill of considerable inn
portance, do large business directly
with firms in England and other Euro
pean countries. Most of the flour ship
ped from the Salina mills for the ex-
port trade goes directly to Glasgow
and Liverpool. Last year the price of
flour and wheat in these markets was
practically prChibitiVe of export trade
from this state Large amounts Of
wheat are being bought by steamship
companies and shipped on their own
account to be milled in England Large
amounts of wheat are also exported
from Argentine and from Canada. The
prospects are that this year the price
of wheat and -four in England viii not
admit of any large amount Of competi-
ton from the mills of this city and
those similarly situated in Kansas. The
result is that if the yield of wheat in
the north and northwest is good, which
is not yet authenticity reported, and
the foreign market does not admit of
a large export trade this year the price
of wheat Will drop still lower. Several
of the most experienced grain men of
this city expressed the opinion that
wheat would continue to decline. and
might even drop as low as so cents.
The reason for the large amount of
wheat hauled to town last month is
the increased extent of early threshing.
This month threshing is only beginning
IN most western parts Of the state.
while 1t has been in progress for a
month and q half in the central coun-
ties.