Highland recorder. (Monterey, Highland County, Va.) 1877-1972, 1906-07-13
Wheat Crop To Smash Records

And now comes an estImate Cha'
tho winter wheat crop this season
will be the biggest in the history
Of the country. Jones and lnglls'
who have been heard from before
as calculators, have made an ex'
tended tour Of the winter wheat
region. and claim to have made
careful personal examination OF the
fields. They stake their reputation
on the fact that, if something un.
toward does not happen to the crop
vet uncut, the total yield will be
100000 bushels. The Modern
Miller, another authority, does not
quote any figures, but its testimo
ny as to the general condition OF
the crop tends to corroboratte TO-
seate view held by the northwestern
experts,
1t was, indeed, great week foi
the man who likes to look at things
from a non-dyspepsic stanarnint at
least in so far as the outlook for a
big wheat yield is concerned. Al
to the price. actual an prospective
there was not so much cheer IN
the situation, but even in that re-
gard the aspect of things may
change with the Developments OF
the next fortnight.
ALARMIST DISCREDITED
One might gather from the re-
ports of rain in the spring wheat
country that there has been nigh
ty little sunshine there for weeks
The alarm st continued his predic-
tons of ruined crop, but he is not
soaring a great many in the trade,
Sober judgement in the northwest
is that, while many fields in the
lowlands have been damaged by ex-
cessive moisture, especially in the
Red River Valley, the situation,
broadly speaking, is most excellent
The rains are set forth as having
done vastly more good than harm.
So sure have many traders be.
come that the total wheat yield is
to equal, if not to exceed that of a
year ago that they are now hgur'
ing on depressing rush OF new
grain, during the month OF July
and drop in value. Inasmuch as
there is plenty of old wheat lef'
over and advices from abroad arr
indicative of "A good crop there. tht
theory of lower level of price ha'
substantial foundation,
A Philadelphia trader declares
that, on the basis Of the present
market, corn is five cents, wheat
eight cents and oats twelve cents
too high to admit of an export bus
mess. lie concludes that nothing
material can be done toward reduc
ing TIE inevitable American sur
plus until a large concession Ii
price is made.
FLOUR INDUSTRY
There is nothing encouraging il
the -four industry. The mills o
the north west are scarcely running
at more than half capacity. and tn
production for the week was unde
2OOO OO barrels, a decrease OF 33,OO
barrels or more from the week pre-
yious. Reports from outside mill
indicate that they, too, are BEN
operated on half schedule.
In northwest wheat stocks ther
was a. decrease Of $4,000 bushels
as compared with $4,000 bushel
| the week before and 56S.000 fo
the corresponding week of 1906
Total stocks at Duluth and Mime
apolis are now nearly 100000
bushels, or two and a half time
those of the proceeding year.
Argentine shipments were 1885
600 bushels, or half a million i
excess of the Broomhall estimate
'bnt small as compared with H,ofo
900 bushels year ago. The ha
ures were bullish, bnt they did nc
provoke much of a response fror
Europe, which is drawing heavll
. On Australia for supplies. rCanad
bids fair to be big stnmblIn
block in the way Of American eS
port trade after the middle OF Al
gust. Fine crop prospects are mel
aided from the dominion, enthus
asts insisting the record will
broken by a wide margin.
CnRN