The Ronan pioneer. [volume] (Ronan, Mont.) 1910-1970, 1916-11-17

WHEAT REACHES
HIGHEST POINT
MARK MADE RECENTLY IS
ABOVE THAT FORCED BY
HUTCHINSON CORNER
Higher Now Than at Any Time Since
1868, When It Went to 1920; ALI
Records May Be Broken With Next
Years Prices.

Within the last few days Montana
wheat has sold on the Chicago board
OF trade and in Minneapolis as high
as two dollars reaching $20912, ac-
cording to one telesraphic report This
exceeds the high figure of the Letter
corner in May, 1898, when wheat
was quoted at $l.S5, and that of the
Hutchinson corner in September, 1883,
when wheat touched two dollars. It'll
is higher, in fact, than any price since
1865, when wheat went to 1920 on the
Chicago board of trade. The present
figure, moreover, is the highest i'll his
tory except during a period of depre-
ciated currency. AS history shows
that the highest prices are reached
after the close of war, it is likely
that wheat will shatter all records
within the next few years.
As late as April, 1909, when wheat
was quoted i'll Chicago at 1.2912, the
magazines were filled with articles of
the tenor, "What is the world coming
to-" The quotations were referred
to generally as ''war and famine fl
cures.
Due to Speculation.
The rise at that time was attributed
largely to the speculation Of James
A. Patten and his followers. In the
preceding winter and spring Patten
had bought up vast stores Of wheat
paying little more than dollar a
bushel, it is said. This figure of
less than $3.50 was the highest in
% years with the exception of the
Letter corner.
There is vast difference, however,
between the character of the present
high quotations and those in 1888,
1898 and 1909. The high prices of
the present period are fairly steady
and are due to the war demand and
the general failure Of the crops in the
middle west. In the other years the
rise was due almost entirely to specu-
lation, combined of course with crop
conditions more Or less favorable to
the bears. The day following the high
figure Of the Hutchinson corner the
quotation dropped from So to $1.04112,
a fall Of nearly so per cent. The cor
ner price Of 1883 was followed by
drop from the high figure of So to
7112 cents. In january, 1895, wheat
was as low as 4S34 cents.
Before Civil War.
The highest price prior to the civil
war was attained shortly after the re-
volutionary war, when wheat was So
and on February l 1887, when wheat
rose to 1926 at Baltimore. 1t was
some time after the opening of the
civil was that the famous war prices
were attained. Wheat dropped 25
cents a bushel when Fort Sumter was
fired upon. The highest price in 1862
was only $1.3412. During the fiscal
year ending June 30, 1S65-the last
year of the wharf.-the price ranged
from $1.531h to $2.6612. The maxi
mum of the calendar year 1866 was
$203 and of 1867, 1886.
The only thing that stands in the
way of the Montana farmer receiving
the full benefit Of the present record
price is the shortage of cars, and
measures are now being taken by the
railroads in cooperation with the
state railroad commission to alleviate
this situation. Shippers complain that
the elevators are blocked with delayed
consignments and that in many cases
cars are held after they are loaded
for want of locomotives to haul them.
They also charge that branches of
feeders are being neglected that traf-
fic may be maintained on the main
lines. The railroads maintain that
they are doing all in their power to
keep the crops moving and complain
that much Of the trouble is due to the
delay of consignees in unloading.