The San Francisco Call. Newspaper, August 22, 1897, Page 1

VOLUME LXX WHEAT YET RISING IN BIG BOUNDS It Has Passed a Mark Even Beyond the Highest Estimate. — lSQ?—THIRTY PAGES. PRICE FIVE CENTS. GOLD DUST FROM THE | KLONDIKE Four Miners Return and Bring Ninety Pounds of the Yellow Metal. MILLIONS EXPECTED FROM THE FROZEN NORTH. 29 <. SAN FRANCISCO, SUNDAY MORNING. AUGUST PROSPERITY HAS SMILED AGAIN ON CALIFORNIA. And the End Not Yet-—Foreign Countries Men Back From Dawson City Tell of Their at the Mercy of America so Far as Grain Products Are Con- cerned. ike regions may | b ia bas e pros- scenes around the for ar ng. On ( the brokers have t 1t was at a | the day. Short | precarious condi- to each and theomine. Many to heavy stained by nd then another have been 1 the reports have been DPO without foundation no atten- 1 bas been paid to them. Many small undoubtedly been made, | buying and selling wheat is the geuneral outside public losses s ate or unfortunate party is con- California wheat-growers have W for just such a demoustra- t n wheat, but the auvance is so great that their position can hardly be S by themseives. throughout the s will have a severe | nion pits is that time in uadermin e. Many are of e opinion that the price will stay where it is for months to come, while others look for a suaden reaction. But little wheat has so far come in from the in- terior valleys of Californin, as the growers are evidently waiting for still higher prices. According to official statements e total stocks of grain in the United tes but a few days ago was about 000,000 bushels, against 40,000,000 iast This condition of affairs leaves the in rather uncomfortable will come to the ibie crop of over 800,000 bear operators The excitement seems to have been dis- vlaced by wonderment as the prices wo zher and higher as the daysgo by. The a nce has been rapid and certain and | 1e end may not be yet. The local marke steady, but the importance of the rise appreciated by growers through- out the State. Though tons upon tons of cember wheat are steadily being sold, v will undoubtediy hold over for a The pression is prevalent ifornia wheat crop surpasses ownership in Northern or local mines going to provethat the realization has exceeded the expectation. The bulls bave undoubtedly won a victory which has set the civilized world on fire. The fight goes on bitterly, regard- f the feelings of their fellow beings, the bears, or the saying that men may seek their own commodity, yet if this were done with injury to others, it was not to be suffered. It is thought that the demand from uropean and other foreign markets for American wheat will greatly exceed the supply. Europe’s dependence upon America for wheat this season is nearly as great as it was in the celebrated famine years of 1891-92. The deficiency will prob- i 44,150,000 quarters, which is 90,000 quarters less than in 1891 The arguments set forth that silver fou lows the rise or fall of wheat or other I'he exception proves the rule. Although the excitement seems to have somewhat abated throughout European countries, there is liitle if any diminution | ci strength. The struggle between actual | scarcity ufloat and in the hands of the | t ade there and the abundance here con- iues, and thougn buyers are slow to | make up their minds that a higher level of values wiil probably be necessary to at- tract adequ supplies, sellers every- where, with the exception of America, seem determined to take advantage of the | sirength of their position. | It is possible that occasional periods of | weakness bers help to induce the belief | still held by mauny foreign buyers, that | the necessity of immediately turning | wheat into gold will cau-e heavy ship. ments as early as possible regardless of price, and that consequently 1f there is to a continued scarcity and hi her prices they will not be witnessed beiore the sec- ond half of the season, and perhaps not even then, if the crop in Argenting, to be reaped next December, proves to be a large one. It is acknowledged that America has greater power in fHixing the world’s price of wheat than ever before, because, with India practically non-existent asa sourcs of supply and with a crop in Russia acknowledged to be a poor one-even by tbe St Petersburg officials, the United States will be called upon to supoly per- haps 30,000,000 quarters, which is a larger quantity than ever shipped before and a quantity which it could not supply even the crop this year does reach the ex- traordinarily large figure of 600,000,000 bushels, which is expected by many. The probable requirements of the va- v remain in the dark as faras | 1es and bringing | Fri commodities have been made ridiculous. | rious countries will excied 51,500.000 quarters, which makes a bright outlook for a higher level of prices in the ensuing season. Russia, with her short crop this year and her diminisned stocks, cannot be looked to for more than 14.000,000 quar- ters, and Roumania, Bulgaria, Turkey and Servia will not be able to spare more han 5,000,000 quarters; Tunis, Alveria, India and Chile may make up 1,000,000 quarters between them, aud thus givea 1otal for these countries of 20,000,000 quar- | ters, leaving 31,500,000 quarters ior Amer- lica and Canada, unless Argentina and Australasia be blessed with good crops. | Buteven in the latter case, seeing that these latter countries can only begin to export next January, there will‘not be | time within the present season for more than 4,000,000 quarters to be shipped from thes~ Intitudes, Following are the probable rrquirements of importing countries in 1897-98, which still further goes to prove that America governs the wheat market this season: Qu-riers. Germa v, B Izum Taly . ~pain. Por iigal, G eece and Switz rand est Indl udries 750,000 Bl i EASTEXN PRICES RISE. | Intense Excltem nt in the Wheat | Pits at New York St. Louls | and Chicago. | NEW YORK, N. Y., Aug. 2L.—ESensa- tional feaiures were present again to-dav in tbe wheat pit at the Produce Exchange. The flour 1 of the advance in wheat. Spring flour reached $6 a barrel. a< compared with $4 20 besinning in July. In the case of whea: there was again a runaway market, aptember sold from $1011 to $102, against 993, the closing price of yester- dav. The official closing at noon, after one and a half hours trading, was $1 0214 December future. which opened at $1 to $1 003 against 941% at the close of yester- day. closed ai $1 0355, After the official closing there was jurther excitement on ihe curb, with sales of September as high | as $107. Cash whea’, No. 1 Northern, afloat, was quoted at $1 03. | ST. LOUIS Mo., Aug For the first | time in six years the prevailing option on wheat sold at $1 a bushel in the Mer- chants’ Exchange to-day. Wheat opened | with an advance of 3 cents over Friday’s close, §1 being b d for Decemberat the out- set. A lot of 5000 buskels soid at this fig- ure, when $1 was offered for September. S.les were ma‘de at this price, when De- | cember advanced to $1 0034 In two min- utes an acvance of 1 cent was recorded on | December option, which was boosted to $1 021 a few minutes later. Then Sep- | tem ber option shot up to §1 023{. Intense | excitement prevailea until the c.ose, when | December option was quoted at §1 0215, an | advance of 53¢ cents on the day. Septem- ber closed at §1 023;. May advanced 5% | cents, closing at $1 0514 These are some of the winners in the bull pool: William T. Haarstic, $300,000; | Ben Barnes, $250,000; D. R. Francis, $200,000; Corwin H. Spencer, $200,000; W. | L. Green Commission Compxny, $200,000; Charles F. Forthwein, $100,000. CHICAGO. ILL., Aug. 21.— W heat reach- ed the dolilar mark here to-day. First curb quotations on September wheat were at 97 cents, an advance of 4 cents over yesterdny's close. In five minutes 9815 cents was askea. Corn also gave indica- tions of a boom, the September curb price | ranging from 30 to 303 cents, an advance of over a cent a bushei. Ten minutes after the curb opening September wheat had sold back to 97%4 cents and December sold at 971{ cents. The openng price for wheat on the regular board was 98 cents for Saptember, a jnmp of 5 cents a bushe! compared with yesterday’s final figures for regular trad- |ing. Sales were made all *he way be- | tween 98 und 97 cents for September in the | first few moments, ana 9614 was touched for an instant. Ten m uutes after the | ovening wheat was se.ung at 9714 cents ‘I for September and 96 cents for Decem ber, and did not vary much from these figures for some time. The wildest excitemen t was in the coarse grain. Corn was up nearly 3 cents a bushel and oats up 2 cents. It was sympathetic, of course, with wheat. There is a great short interest in each. Both pits were | jammed with traders. On the 234 advance in common Counselman and otuer eleva- tor people sold heavily. Showers and warmer weather were predicied for the | corn States to-morrow. The market f yielded on selling by the elevatar interests | and on the predicuion of warmer and show- ery weather for all the corn States. Prices went off a cent from the 1o0p. A good deal of yosterday claim that the people who patronize the roads have a right'to ‘claim the services of those roads when they pay rates that yield a-reasonable 'return on the actual present value. * * * > — V. [ Bryan at Ceniral Park, fuly j. | was caused by the fact that the bull crowd rket was excited as a result | had calls for 2,000,000 bushels of Septem- ber wheat which at the close of last night it calied, increasing by that much its Sep- tember line. The same crowd bhas calls for to-night at about §1. Lynn sold about 1,000,000 busheis of September in this moraing’s trading around 97. Schwariz- Dupee bid most of it. It was Lynn’s seli- ing that stopped the advance after the opening. December wheat gradually crept up to the September notch, reaching 97, Septem- ber remaining neariy stationary around 9714. The Lynn selhing of wheat was re- garded by many as significans, because he has, it is said, had the largest local line on the big advance in price and was about the only local trader to make a great profit, ssip had 1t that W. T. Buaker was also selling. Before 11 A. M. wheat began suddenly to advance again and the price jumped toa new high point, overtopping anything yet reached on the regular board—984c for September and 973%c ior Decemuer. The receints of wheat at Minreapolis and Duluth for the past week were reported at 1450 cars, against 1614 the previous week and 2297 the corresponding week a year ago. The news was not & minute old here when the tip-top mark of even curb trad- ing was passed, and the record was 953 cents for September and 983£ cents for De- cember. At this moment New York was up to §105. Meanwhile the Schwartz-Dupee firm’s | selling of coru was keeping up at 33 cents tor December. This firm has up 1o 1 A. M. s0id between two and three million bushels of corn. Before 11:30 A. M. September wheat touched 99 cents and December 9914 cents, New York ctarted this latter advance by showing no break when Chicago yielded. Dispatches from the seaboard were to the effect thai cash sales for export there were 1,700,000 bushels yesterday. The crowd were bearing in mind also that the buli crowd bad calls on one and a half million busbels SBeptember at $1, and there were liveiy fears chat the calls would be good. WAS 2 OT GOULD'S WIDOW, Mys. Angell the Tcol of Desirning Law- wers and a Detectiv-, NEW YORK, N. Y.. Aug. 2.—The Her- ald to-morrow will print along story in which it is stated that Mrs. Saraih Anne Brown Angell, ciaimant to the Gould mil- lions as widow of Jay Goula, has confessed that she never married Gould and never saw him butonceor twice. The Herald says Mrs. Angell, a poor ig- norant but bonest woman, was made the instrument of designing lawyers and a female detective, who sought to muke a big stake out of the Gould estare, thinking the Goulds would rather pay to settle the matter than permit the case to become public. Mrs. Angell says George Gould knows how the mistake occurred and that if she can see him she will explain all. Xcitement l‘horflbly burned. Hedied this morning. et Inio @ Po' of Boiling Grease. CHICAGO, Ir., Aug. 21 —Thomas Rooney fell into a pot of boiiing grease yesterday at the Stockyards and BRYAN AND HAT PANS HE; CARRIED Dismay Among the Admir- ers of the Orator Fromy: Nebraska. AS OF A FALLING IDOL. THUD Stady of the Ethics Governing the Procuring and Use of Passes, VARIOUS ~ EXPLANATIONS ~ ADVANCED. A Theory That Perhaps the Gentleman Having Declared War Foraged on the Enemy, From opinions gathered yesterday seve- ral conclusigns have been drawn, ana the following among them: Any railroad official in the world knows that good men have tiaveled on passes. Also that other good men have indicated a willingness to do so 2nd resented the lack of opportunity. However, the infor- mation that W.J. Bryan is the sort of £ood man to do eith 'r of these thiigs fell upon his admirers like the slosh ot a wet b anket. To him a corporalion was sup- posed to be the soulless embodiment of iniquity—something to be reproved with valorous words, to be utilized as a hor- rible example. That Mr. Bryan would accept a pass, even a poor little $10 pass, from such a concern never entered the human mina. His reputation as a slayer of corporations was deemed to be worth far more. One feature of the distress resulting from exposure is & fear among railroad men that they may be accused of having betrayed the secret. Of any such breach of etiquette as this, however, "hey are in- noceni, excepting one conductor, who does not iry to conceal the part he bad in it. He saw the pass, handled it in line of and not having voted for Bryan, and hearing how bitterly Bryan had spoken of monopolies generaily, he thought his information too valuable to be kept from the public. - So the public has it. The ethics of pass- etting constitute a field for delicate inquiry. The usual un- derstanding is that to procure & pass is the part of wisdom, ana to fail of getting ita visitation of Providence, and yetfrom this sordid yearning there are lofty na- turessupposed to be iree. Theman who is opposed to 1ailroads on principle, and yet accepts a pass, must be concluded to have a variety of principles to fit any emer- gency. Thata newspaper man who travels on & pass pays a high rate for his ride is | conceded by all concerned. If Mr. Bryan were actually a newspaper man there would be littie reason for his present in- terest in his mode of getting over South- ern Pacific territory. His act in proffer- ing a pass would not be regarded as anv- thing worse perbaps than questionable taste. Butaccoraing to such authority as the Omaha World-Herald, the journal on which Mr. Bryan formerly worked, the gentleman laid down the editorial pen when he went into training for the Presi- dency and has not taken it up again, It is his profession to eloquentiv dislike rail- roads.. To forageupon the enemy may bs part of the scheme. There was a comforting theory that per- haps the paper owed Mr. Bryan for services, and that the pass, procured for a debt due the paper from the railroad, was really as innocuous as a $10 bill, in fact, on the same financial and moral ground. Alas‘and alack that this theory must be upset. The man who was Mr. Bryan’s employer is rich. He is believed to run a paper.largely for the excitement of it. His bills for labor are paid regularly each week, as is the custom in well-regulated newspaper offices, and bhis idea that any balance was left over to be wiped out by a paitry pass can’t stand fer a minute. Such explanation as there may be of the sad affair must come from Mr. Bryan himself. He is the god the thud of whose tumbling has startled his worshipers in California“ from their knees, and the task of crawling back unon the pedestal seems to rest largely with himseif, provided no one removes the pedestal. BALANCLD DIPLOMATICALLY. Welcome for Willlam and Faure in Kussia, " LONDON, Exa, Aug. 2L—Accounts from St. Petersburg give amusing details of the efforts of the authorities to preserve the diplomatic balance between the popu- lar welcome extended respeelively to Wiilliam and Faure. Here is an instance: When housebolders were politely request- ed by the police to display German flags during the visit of William they were asked not to make a ereater show than in- tendea with the French tri-color when Faure shoula arrive. it O Hull Bill Return. HAMILTON, Oxr., Aug. 21.—Cyrus A. Hu.l, arrested on u charge of forgery, alleged to have been committed in Chi- cago, has cons'nted to return without weaiting until the time allowed by the An Equal duty, made a record of the circumstances, | extradition order expires, Adventures and Predict That a Big Clean-Up Will Be Made Next Spring. SEATTLE, Wasn., Aug. 21.—Ninety pounds of gold dust is the latest returns from tue Upper Yukon gold fields. It was brought out by four miners and an Indian who came from the Klond ke River overland to Dyea. There they took the steamer George E. Starr, which brought three of the prospectors into Seattle this morning shortly after 10 o’clock. By name they are Ed Thorp of Seattle, George Stewart of Stuck Valley, near Tacoma, and Joe Winterhoim of Junesu. The other member of the party is Jack Ross, from Douglas Island, and he | left the steamer at Juneau. The Indian, famiharly known as Schwatka, piloted them out and also remained at Juneau. All of the gold dast,’valued at about | $20.000, was brought to Seattle, with the exception of $3000 that Mr. Ross had in his | possession. The men came out to lay in a supply of provisions. They left Dawson City on July 4. each with a seventy- pound pack, and came over whatis known as the Daulton trail, reaching Dyea on August 13 and taking the Starr the following day for Seattle. They all expect 10 leave again for the north in the course of = couple of weeks, lioning to reach the Kiondike be- fore October 20, after which tme they fear the streams may be frozen up. Last year the river jam occurred on Novémber 9. Altbough’ these returning miners were not successful in reaping a very rich har- vest of golden nuggets, yet they have in- rerests 1n claims which they bslieve may yet mean fortunes to them. They report that up to the time they left Dawson, and since the miners departed to return on the first trip of the Portiand and Excelsior, no big strikes were made. Considerable dust that had not been cieaned up as a result of last winter's prospecting will be brought down in a few days on the Port- land, but they express the belief that not until the September return of the vessels via St. Michael will the greatest excite- ment be caused in the bringing out of dust velued possibly up in the millions. All are united in the opinion that next winter’s work will net from $10,000,000 to $15,000,000 in dustand nuggets. Last win- ter’s work was started late, while this year it will commence early and the number of prospectors will be many times greater. All three men talked freely to THE CALL correspondent this afternoon at the home of Ed Thorp. Thev have great faith in future big returns from the Klondike,'and think Stewart River and other streams will show up equally as well. Up to the time of their departure there had been no authenticated reports of big strikes on the Stewart River, although many stampedes had been made and considerable pros- pecting will be done. Ed Thorp and George Stewart first went into the Yukon country last fall with a party of nine, tak- ing thirty-seven head of cattle with them. They left Seattle ahout July 1, and set out from Chilcoot River over the Daulton trail on July 8, reaching Dawson City Oc- tober 3. That night'the first big strike on the Klondike was reporied by Rhoades. But thres head of cattle were lost. The balance were butchered and sold at Daw- son for 50 cents per pound. However, as a financial venture the scheme was not successiul, as the cost of transporting the cattle was too great. After wintering on the Klondike Ed Thorpe set out over the ice for Seattle on the 22d of February last to report to his father the result of their cattle venture. He reached here the latter part of April, and on May 14 again turned his face toward the north, landing at Dawson a few aays peiore he joined the present ex- pedition on July 4 for Seattle. Just why he prefers to come and go so often is hard to understand. He expiains it by stating that he wishes to familiarize himself with | the trail. On the return trip, however, the party will go from Skaguay via the White Pass, They were at Skaguav last Saturday and learned that the trail was still 1n an almost impassable condition. A pack train with seventeen horses had started over it, and but nine horses re- turned. They say, however, that there was serious talk of calling the 3000 or 4000 miners together and in mass-meeting de- cide that each man shall give four or five days, as may be required, to improve the trail so as to make it passable. Mr. Thorp. who is a young man but 20 years .of age, states that with George Stewart; his brother. W. L. Thorp, aud cousin, Georze Bounds, they own half of claim 3 A, which lies between Nos, 3 and 4 on El Dorado Creck. They nave also taken up bench claims Nos. 1, 2,3 and 4 on Bonanza Creek, opposite the Discovery claims. The bed of the creek where the channel runs is from 30to 50 feet wide and freezes dry in the winter. These claims were all located last fall. Siwash George Cormack originally lo- cated the gulch claims on Bonanza Creek, expecting to hold the side hills, but the Thorp crowd filed on them as bench claims and were sustained by the Gold Commissioner. The 3 A claim on E! Do- rado was located by Jack Halterman last November, who sold one-half interest to Thorp and his friends. George Stewart and W. L. Thorp worked on the claim du.ing the winter and they sunk five hol-s on the wrong side of the guich be- lore they reached the pay stiesk the lalter part of March. This was reached after twenty-six days drifting and the clean up netted about $3000. Mr. Stewart brought with him a $77 rugget which he picked off the claim. This claim is 140 feet across the guich from where Clarence Berry’s 4, 5and 6 c.almsare located. He drifted 50 feet across and 100 feet up stream 10 be re- warded by $130,000. Mr, Thorp states that he did not see any one from the Stewart River, although bhe saw many going in. The highest sum he knew to have been taken from a pan on the Stewart was $150. In conversation with ‘THE CaLL eorrespondent, Mr. Stewart said that when they left Dawson on July 4 a great number of men were hunging about getting their bearings and wailing for information to guide them in striking out to the gold fie!ds. While going to Hunker Creek he saw a b g siampede to Dominion Creek, which is thirty miles long and near Bonanza Creek. A strike had been male on June 20. and while the dirt did not run much more than 50 cents to the pan big returns are expected about September 1, when the surface water will quit running and they can sink to bedrock. He saw the steamer Alice loaded with prospectors start for Stewart River. The steamer is in high favor as means of transportation, because it brought the first stampeders to the Klondike. Continuing, Mr. Siewartsaid: “Oue quartz ledge was located by Wiiiam Oley on the Klondike and sold 1o Joseph Ladue. Ben Wall of Tacoma sold his interest in No. 26, Bonanza Creek, for $50,000. Nine holes hzd been run to bed- rock and each netted $2 to the pan. Tim Bell of Juneau sold claim 31 on El Dorado Creek for $31,000 1o Billy Leak and Oscar Ashley of Juneau and invested the money in other property. He bought 31 last fall for $100 and made the sale before winter was over without putling a pick in the ground. Ths owners are now offered $150,- 000 for it, but prefer 10 work it. “The adjoining claim on the El Dorado No. 30 is ownea by big Alex McDonaid, who also has twenty-eizht oiher claims. Four men agreéd to work it for one-haif the proceeds. The first hole, run about April 1, paid $800 and after drifting thirty NEW TO-DATY! RED ROUGH HANDS Ttching, scaly, bleeding palms, shapeless nails, and painful fioger ends, pimples, blackheads, oily, mothy skin, dry, thin, and falling hair, itch- ing, scaly scalps, all yield quickly to warm baths with COTICURA SoAP, and gentle anointings with CUTICURA (ointment), the great skin cure. (Uticura 1¢ sold throughont the world. 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