Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1916-08-15

CHICAGO CASH QUOTATIONS.
(By Associated Press.)
CHICAGO, Aug. 14.-Wheat, No. 2. red, s.. 4;
@1.441s; No, 3, red, $1.3Sla q 1.42h No;
Corn m No ?, yellow, s51Aas715c; No. 4. vel
oats. No. s. white, 42A G4S15c; standard
43d44c.
Rye, No 2. new, $1.14@1.16.
Barley, 70M9Sc.
Timothy. nomina; cloverl $7Oo@14. so.
Lard, $I$.S7.
Ribs, S13.S5614 45.
KANSAS CITY CASH QUOTATIONS.
(By Associated Press.)
KANSAS CITY, Aug 14.-wheat No. hard
1901 .43; No. red 1.3Sd1.46
Corn, No. mixed s2@ SO; No. white 50;
No. yellow 81.
RENsKoRF LYON CO.'S GRAIN LETTER.
NEW YORK, Aug. Ion the 23rd of June
we issued circular fOrecasting the events which
are now Transporting. The government grain re-
port just issued discloses a serious situation
which cannot be CLOSED over, and practically
means very high prices for wheat before the
season ends. How high is the only question.
With an indicated crop of only $780, 200
bushels we shall need practically all our new
wheat, leaving only some 80 to 40 millions
for export over and above the "carryOver'' of
last The Canadian crop is deteriorat-
ing and the unfavorable advices come from
the same crop experts who predicted the de-
ter10ratOn In the American crop but which
was considered an exaggeratiOn at the time.
1t appears that the exportable supplies avail
able from North America will be considerably
below last years total.
So far as Argentine and Australia are con-
cerned, 1t is not so much question of sup
ply, the ability for consuming countries to
bottoms to move ii where needed. midas crop
is In much the same position and new acreage
is decreased some % per cent.
Europe, up to the present time, has felt
herself in fancied security, thinking that last
seasons supplies would tide her over until
this country was forced to SELL but now the
changes ii all. The consuming countries are
confronted with serious condition. the end
Of which no one can foretell. 1t must be borne
in mind that We shall soon be called upon to
take into consideration the seeding OF the next
winter wheat crop, which IL it does not pro-
coed satisfactorily, will only serve to intensi-
The sum total of European crops is not over
promising and more than last year Will be
needed. ~ ~.
Prices have risen to date 46c on September
delivery, the greatest proportion of which was
based the black rust and blight damage in
our spring wheat territory and also on the Ca
madam side.
While it is impossible at the moment TO state
the probable yield Of North America. the fol-
lowing figures may not be without interest:
The consum ption of importing countries last
year was $50 .OO0 900 bushels Of imported wheat.
with every indication that GOO 900 900 will be
needed this year. Europe IL dependent upon
North American supplies for at least four to
five months
Possible frost damage in Canada owing
TO the lateness Of the crop, is feature call
ing for consideration. without any further dam
age il appears If the total North American
available eNportable surplus Of old and new
wheat would be under 3Oo.OOO,On bushels, as
against between 49,. 900 900 to 10000, 900 ac-
tual last season. a statistical situation scarcely
calling for much comment.
On the Goth of February we ended our cir
cular as follows: 'In 1917 with the Napoleonic
wars wheat sold at $2.s5. Fifty years later
with our civil war. it again sold at s2s5 in
1867. Add another fifty years and we find
ourselves in the midst of gigantic Euro
for wheat?'
There is force and justification in that
query today than existed then. Who shall say
how far the present advance will go?