New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-02-23

The nricos in tho next crop would go
skv bigh. and We might be forced 10
:mport il 10 I'll our home needs "heae
IA in way, The barometer OF the prlIo
~ foodstufFs throughout the worln; l.
ia of more present concern 70 look az
this nroblem of foodstufs generaly
than TO confine ourselves TO the price
Of bread. fou,;,o
E., This country because Of the present
rate Of expectation. There IS proDapIy
about 100000 bushels still remain
mo in our surplus crop aYailaole ioi
cxport during the next hiteen "eehs'
or I'D 70 the July crop. There are az
vays a large number OF "cii-tV-uo
farmers in the West who hold their
wheat until they can get 81 ousnei.
Nanv Of these held it over from last
vcar before the prices began 10 snoot
nm. and think it is fair estimate InaI
10 600 900 bushels of this wheat IS sun
in tho hands Of the farmers. ms IS
sufficient 70 tide US over. bet"eeh
now and July expectations VIII grow
loss. and most contracts VIII be msde
for the big crop coming:
Mr. Canbv estimated that on Marcn l
,Loro would be about 200,000,0OO bush
ole If wheat in the hands Of the farm
ors Tho ,ack OF facilities for exporta.
lion. The few ships available, would
fond tu restrain export and lower the
nricc of wheat and four, he declared
Mr. CANDY asserted that he and MS
associates on the Chicago Board OF
Trade had done all they could to keep
the nrice of wheat and -four down some,
where near normal, but that they could
not control economic laws. IL was an
expensive proposition for the dealers
TO handle wheat at the present hlsh
prices, in the matter OF freight taees;
etc, and they would be letter sat'sheu
if il was 40 or so cents cheaper.
Many of the dealers on the ChlGag9
BOARD of Trade lost money instead OF
making il on wheat because OF the
Furopean war, he declared. Before any
one had thought of the war over d.
200 600 bushels had been contracted Tor
with Germany for delivery during the
latter part Of July, he explained, and
when the strife came many OF these
contracts had to be cancelled. Some OF
the shipments were seized on the hlgn
seas by Great Britain. II cost the deal,
ers a tidy sum to get Germany to cancel
these contracts, he explained, and al
though most of them were able to re-
sell the grain to England they all lost
on the deals.
Attention was called by Mr. Candy to
the fact, as he said, that for a long
period of years until recent times hour
at 81 a barrel had not been considered
a high price. He told of delivering a
load of wheat himself In an oxcart in
Cecil County, Md, in 1869, and selling
il at the mill door for e. SGshei In
1867 it sold for SO p on the Chicago
Exchange, he said.
The president Of the Chicago Board
Of Trade disputed the accuracy OF
wheat statistics as given out by the
Department of Agriculture, particularly
in regard to the amount OF wheat IN the
hands of the farmers. 1t was practi..
cally impossible under their system OF
collecting figures in that respect
through agents in various localities, as
the department does, to get accurate
statistics, he asserted. In a recent an
nual report of the Department OF Agrl-
culture il was estimated that l3,OOO'oUo
bushels of wheat remained at that time
March /. the date on which the reports
are issued in the hands of the Illinois
farmers. Mr.. Candy said 1T was an on
crop year, and when the crop was
cleared up in June it was found that
less than 100000 bushels had been IN
tie hands of the farmers Of Illinois
"The members OF our Board OF
Trade" said Mr.. Candy, "are in touch
with almost every crossroads in the
West We couldn't locate the l3,OOO,OO0
bushels estimated by the Department
of Agriculture at the time | speak OF
in the Illinois wheat belt, and | wrote
TO the chief clerk of the department
asking him to inform US where they
had found it. received reply in a
few days that the department did not
give out the information as to the To-
cation of wheat in their estimates