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Sign up freeThe Saint Paul Globe
Saint Paul, Ramsey County, Minnesota
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Russia is expected to prohibit wheat exports due to poor Southern crops, increasing demand for US grain shipments from ports like Philadelphia. In France, rising bread prices spark agitation in Paris and Marseilles, with demands for legislative action, but the government under Premier Meline refuses to abolish import duties. London grain markets report higher prices amid poor weather.
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Such a Step Strongly Foreshadowed By a Number of Circumstances.
BREAD RIOTS ARE POSSIBLE AT PARIS.
The Feeling in France Over the Crisis Is Already Becoming Intense and Some Legislative Action Is Demanded.
PHILADELPHIA, Pa., Aug. 22.-The Press will say tomorrow: Word has been received that the Russian government is meditating the promulgation of a decree prohibiting the export of wheat owing to the small crops in Southern Russia, and this report is causing some uneasiness to those interested. The effect of this contemplated action will be to create a strong demand for tonnage in the Black sea, so that as much grain as is possible may be shipped before the prohibition takes effect. This in itself would be calculated to force up freights on vessels loading here. A well known shipping man said that this contemplated action of the Russian government makes it an almost settled fact that Europe must look to the United States alone to fill her orders for cereals. Just what increase of business this means for Philadelphia, New York and Baltimore alone is incalculable. The exports of grain from Philadelphia, which already are the largest on record, will reach figures in excess of what has been the most sanguine expectation of shippers. Within the next few weeks cargoes of grain will be shipped from here to ports in the Adriatic sea, to St. Louis du Rhone, Marseilles and Alexandria, Egypt. This in itself serves to confirm the rumored prohibitory export law of the Russian government, for unless something of the kind is contemplated it would be an unusual action to make such imports from ports at such a distance. Among the charters made for Mediterranean ports may be mentioned the British steamer Pitou, which loads either here or at Baltimore 14,000 quarters of grain for Cork for orders at 2s 6d, with option of Marseilles or St. Louis du Rhone at 4s, and the steamship Ruysdall, 12,000 quarters for Cork for orders at 3s 4½d and Adriatic 4s 11d.
BREAD RISING.
The Feeling in France Is Becoming Intense.
LONDON, Aug. 22.-A dispatch to the Daily Mail from Paris says: The rise in the price of bread is the cause of no little agitation. There is even talk of summoning a special session of the chamber of deputies to discuss the matter. Market rigging is an important factor in the rise. At Marseilles the popular excitement is much greater than here, and the mayor of the city has issued a provisional scale of prices. The cause of the rise there is the scheme of a syndicate of wheat merchants to force the government to reduce the wheat duties. The price has risen since last night. Today the importer and the millers at Marseilles held a conference, and such is the popular feeling that the authorities are taking steps to prevent an outbreak.
GRAINS HIGHER.
All Quotations Advanced in the English Markets.
LONDON, Aug. 22.-The weather during the past week has been broken, many sharp thunder storms adding to the discomfort of general bad weather. Wheat in the market was 4d up on continental demand, which was strong. The English millers are becoming uneasy. California wheat, July, sold at 39s 2d. Flour was 2s dearer. Maize was 6d dearer. Mixed sail grade at destination asked 15s 3d; September and October maize quoted at 15s 9d. Barley was 6d dearer. American barley was quoted at 15s 6d. Oats were dearer. Clipped August and September all ports were quoted at 12s 3d.
DUTIES STAY THE SAME.
French Government Will Not Abolish Import Tax on Grain.
PARIS, Aug. 22.-The Eclair and other papers say that official circles regard it as useless to suppress the import duty on wheat and assert that M. Meline, the premier, has made no special declaration on the subject. The Temps says he has given the matter close study, but at the ministry of agriculture, which does not appear to share the excitement of the newspapers, there is no disposition either to suppress or to lower the duties on cereals. The Republique Francaise says it learns that the government has resolved not to accede to the demands for the abolition of the duties.
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Foreign News Details
Primary Location
Russia
Event Date
Aug. 22
Key Persons
Outcome
contemplated russian prohibition of wheat exports; french government resolves not to abolish import duties on cereals; rising grain and bread prices; increased us grain exports to europe.
Event Details
Russian government meditates decree prohibiting wheat exports due to small crops in Southern Russia, causing uneasiness and boosting demand for US grain shipments from Philadelphia, New York, and Baltimore to European ports. In France, bread price rise leads to agitation in Paris and greater excitement in Marseilles, with talk of special legislative session and mayor issuing price scale; syndicate of wheat merchants aims to force duty reduction. London markets see wheat up 4d, flour 2s dearer, maize 6d dearer, barley 6d dearer, oats dearer due to broken weather and strong continental demand. French official circles regard suppressing import duty as useless; Premier Meline has studied but agriculture ministry shows no disposition to suppress or lower duties.