The San Francisco call., 1908-03-31

! western belt Ii was reported that some Mime
apolis mills will close down. owing to the iaci 3
close down this week
The San Francisco market continues dull OF
holders are firm and quota tions for the cash
grain show no n further the sI,r e6ange, sg
California club. $1.60@1. .625; do milling
81 6213 al 65; California white Australian Sl6s
@1.Io; lower grades of California, 81 1,3ogi 90
northern club; sl571a@1 .621a northern blue, ne,
ctl.
FUTURES
10:30 a. m Session
No quotations
p. m Session.
No quotations.
Barley There was a sharp decline in futures
'yesterday morning which led buyers to reduce
their bids for the cash grain, but holders msde
no concessions and the market was accordingly
dull and featureless Arrivals were fair
CASH BARLEY
mon G04d % fr to cs9ise s feed @ spot
g1.5o; shipping and ehevaIier, nominal
FUTURES
I0;S0 a. m. Session
Open. High. Low. Close
nss iss' slis sid siis = ''sfe s4
Nay sPss .5iss aiss- T2s s1 o's;s sss
Oats-The market continues dull. with all con-
ditions unchanged. Mail advices from Chicago
say: The farm reserve of oats. as shown IL 6y
o006 900 bushels or III. 900 bushels less than
year ago. AS the crop was originally estimat-
monthly Consumption of &C. 900, 900 bushels Tor
the last seven months and leaves only 40 0oo. 600
monthly for the next i've months, although they
are the months OF greatest consumption
There must, also, be deducted from 100 ooo,-
600 TO no. 0O0. 900 bushels for seed, SO that not
only will our reserve be completely. exhausted
Quirements can only be met by such price level
as will lead to economies or substtutions.
AZ all nfh2 ding hnr h<f1
tuition seems to be out Of the question. and 1t
Is reasonable to expect that q very high price
Good to choice red, s1.55GI5715; ordinary do
nominal.
Corn-There is nothing new in the local situa-
tion. Expert figures from Chicago say:
The corn crop Of 1907, estimated at 2.592.
100000 bushels, has disappeared very rapidly.
On March the farm reserve. according to the
government figures amounted to only 962, 600. 600
bushels. In other words, from crop or $50. .0OO,-
had used fully as much corn during the three
months of December, January and February as
we used during the same three months OF the
year before.
This can be accounted for In several ways.
The crop was generally OF poor quality and its
feeding value much less than the previous crop.
The number Of hogs fed on the farms has been
much larger than before.
To-day. not only are the farm reserves and
most nothing in transit to the east. Eastern
dealers are anxious for prompt shipment OF all
purchases, showing how closely their stocks are
used up.
Whatever economies In the consumption of
corn the financial strtngency engendered have
been much more than counterbalanced by our in
crease In population, for tey 80 per cent Of
our corn is meat, and we add 1000. 600 mouths
to our population each year. There have been
substitutes for corn this year-au feeding crops
have been short. We must go through the next
nine months a supply Of at least AGO.
300, 900 bushels less than consumed last year
during the same months. AS bearing on the
question of price. it is well to remember that we
used up last years crop closely that II sold in
the 6s for thirty days before the new crop COM
nenced to move
California small round yellow. nominal; large
yellow, 81 IS; white nominal; western states
yellow, sacked, S1.65; In bulk, San Francisco
track $I.57: white, S1.57 mixed, $1.55; white
Egyptian, sl.6o@1.7o; brown Egyptian. s1.s7 4
q 4215 per ctl.
Rye-California. $1.47h al so per ctl.