Cut Bank pioneer press. [volume] (Cut Bank, Mont.) 1909-current, 1916-11-17
REACHES
HIGHEST POINT
MARK MADE RECENTLY rs
ABOVE THAT FORCED BY
HUTCHINSON CORNER
Higher Now Than at Any Time Since
1858, When 1t Went to 1920; All
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 $2.09Ha, ac-
cording to n telegraphic report. This
exceeds the high figure of the Letter
corner in May, 1898, when wheat
was quoted at $1.S5, and that Of the
Hutchinson corner in September, 1888,
when wheat touched two dollars. 1t
is higher, in fact, than any price since
1868, when wheat went to 1920 on the
Chicago board of trade. The present
figure, moreover, is the highest in his
tory except during a period of depre-
ciated currency. AS history shows
that the highest prices are reached
after the close of a war, it is likely
that wheat will shatter all records
within the next few years.
As late as April, 1909, when wheat
was quoted in Chicago at 1897, 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 a dollar a
bushel, it is said. This figure of
less than $1.30 was the highest in
% years with the exception of the
Letter corner.
There is a 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 + due to the war demand and
the general failure Of the crops in the
middle west. In the other years the
rise vas 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 81. 041a,
a fall of nearly so per cent. The cor
ner price of 1883 was followed by q
drop from the high figure Of So t.
71R. cents. In January, 1895, wheat
vas as low as 1891 cents.
Before Civil War.
The highest price prior to the civil
war was attained shortly after the re.
evolutionary war, when wheat was So
and on February l 1887, when wheal
rose to 1925 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 1867
was only $1.34R. During the fiscal
year ending June 80, 1865-the last
year of the wharf.-the price ranged
from $1.53H to $2.66h. The maxi.
mum of the calendar year 1866 was
5000 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 T 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 ire 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 c%onsignees in unloading.
Buys Geraldine Farm.