Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1907-12-16
This Years Total Crop to Be
Less Than That of 1906 By
100000 900
HIGH PRICES ARE PREDICTED
Increased Rate of Production Fails to
Keep Pace With Growth Of PopuIa-
tion-Serious Matter in England
Argentina Must Be Relied Upon
for Supplies.

London, Dec. 16.-The wheat crop
OF 1907 will fall short Of that Of 1906
by 400, 600, 900 bushels, according to the
calculations of grain traders. On all
sides high prices and recourse to re-
serve stocks are considered inevitable.
harvest amount to 1886, 00O, 900 bush
els, as against 1888, 900, 900 in 1906, and
an average of 1885, OO, 900 bushels for
the last four years.
For the season from Aug. i, 1907, to
July 81, 1908, 1t is calculated that the
wheat importing countries Of Europe
will require 504, 000, 900 bushels, where
as 1T seems probable that the wheat
exporting countries of the world will
have a surplus Of only 492, 500, 900,
making a deficiency Of IL. 200, 900 bush
els.
In the united kingdom, where twen-
ty-seven loaves are made of foreign
wheat for every six made of native
wheat, the shortage Of the crop is a
serious matter. The average price for
English wheat has been steadily rising
for the last year. For September, 1906,
1t was $7.5S: a year later it stood at
1896, and now for The third week in
succession the price now stands at
$3.50 a quarter.
Despite this rise, there is found to be
no surplus stock anywhere, M the
opinion is expressed that quotations
would be still higher We're 1t not for
the money stringency in America en-
failing heavier shipments than under
normal conditions.
Inquiries made in Mark Lane reveal
ed an opinion that wen an average
wheat crop would not have prevented
a rise in prices. because the popula-
ton has been gaining on production for
several years.
In any last it seems undeniable that
the rate of increase in acreage is less
than it was ten years ago, and during
the last three years is declared to have
been almost stationary. From $4,000
900 acres of six years ago, the United
States has now come down to 4S,000.-
600, and Canada and Austria have add
ed only 100000 acres in the last seven
years, whereas their increase in the
preceding sever years was 100000.
India's acreage has remained station
airy for five years, and Frances has de-
Finally, the Russian wheat
area is not maintaining it's rate of in
of ten years ago. and even for
Argentina the same statement holds
good.
In view of these figures the predic-
ton is hazarded that before long the
present level of prices will be looked
back upon as moderate, and 1t is also
declared that England is returning to
the conditions of the early '7Os, when
wheat cost $1.68 per bushel.
In a just published review Of the
year now closing, the European con-
~tinental crop is estimated as showing
9 per cent deficiency, production hav-
ing fallen off by 1856. 500, 900 bushels,
while the presumptive exports of
North America, from crops of this
seasons growth. are considered likely
to be 1864 900 bushels less.
Prospects in the southern hemfs-
phere and India, where the harvest is
gathered from December to March, are
none too bright, for a lack of rain In
India and Australia renders it possible
that the former will have nothing to
and the latter a comparatively
small amount.
The brunt of demand must. It IS
thought, fall on Argentina until sup
ported by India or Australia. Hopes
run high of a bumper harvest In South
America, but conservative opinion
here inclines to the expectation that no
more wheat will be forthcoming from
that quarter than in the calendar year
just concluding and it is foreseen that
the extra European demand will con-
sumo an unusual amount Of the Argen-
tine crop.