14 TRANSACTIONS OF THE 



offered were out of all reason, and the uses they were intended for would 

 not be profitable to the purchaser. 



He was, however, shown land by other parties whose prices came nearer 

 to his expectations, and it is likely now he will purchase and 'locate with 

 us, and breed his Hereford cattle. 



This circumstance is not given as a usual occurrence, but is merely 

 referred to as one of the great dangers we must avoid, or it may wreck our 

 tide of immigration and give us a name that would prevent others from 

 coming to our beautiful State. 



The value put upon land in general should be in proportion to the 

 returns it will give upon the investment, and not be fixed by precedents 

 established in localities where any peculiar advantages enhance their 

 value by reason of location. There is land, and plenty of it, in California 

 that can be had at moderate figures, if the purchaser will take time to 

 look the country over, so that we are of the opinion that the home seeker 

 can rest assured, if he does not wish to pay a premium on location, of 

 purchasing land cheaper in California than any State in the Union, pro- 

 ductiveness considered. 



FLOUR AND GRAIN. 



The crop outlook at the beginning of 1886 was most favorable, and the 

 yield of wheat promised to excel that of any previous year. The acreage 

 was larger, and the general appearance of the growing grain seemed to 

 insure a very large harvest. This condition of things remained the same 

 up to within a couple of weeks of threshing time, when the State was visited 

 by the hot, dry Northers so much feared at that season of the year, and 

 which proves so disastrous to standing grain just maturing and ready for 

 the harvester. 



Commencing June tenth, these winds for three days created sad havoc 

 in the grain growing districts, and as the threshing season advanced the 

 loss occasioned by the shelling out of the grain while in the stock was 

 greater than at first anticipated. 



In the northern part of the Sacramento Valley the yield was fifty per 

 cent less than the estimates, based upon the appearance of the standing 

 grain, made during the month of May. In Colusa County alone the esti- 

 mated loss was $2,000,000. The other counties lying in the great valleys 

 of the State were injured in same proportion. These losses, as may have 

 been expected, had a most depressing effect upon the farming community 

 and business generally throughout the State. On June first, the reports 

 from all parts of the State were most encouraging, and all looked forward 

 to a most prosperous year. 



From reports received since harvest we have placed the wheat yield at 

 thirty-nine million bushels, in round numbers, whereas it should have 

 been, but for the unexpected disasters mentioned above, nearer fifty mill- 

 ion bushels. 



By reference to the statistical matter farther on will be found the state- 

 ment of receipts and exports of flour and grain from San Francisco for 

 the year, the report of the amount remaining in the State January 1, 1887. 

 together with a short resume of the wheat and barley market for 1886, 

 giving the highest, lowest, and average prices during each month in the 

 year. 



For this valuable information we are indebted to Mr. T. C. Friedlander, 

 Secretary pro tem. of the San Francisco Produce Exchange. Its publica- 

 tion in this report makes it an easy matter for future reference. 



