THE WHEAT OUTLOOK.

Dominion, Volume 3, Issue 866, 12 July 1910, Page 8

THE WHEAT OUTLOOK.

Reports front tile United State and Canada, speak of crop damage ajid decreased yields, but such reports arc invariable accompaniments of the harvest season. It would be a remarkable sensou liiMctl if the crops throughout the wheat bells ot America wero hanestod without dama-je or los , ;. It ia a Question whether tho damage, now reported is anything more than normal. There is much diversity in the reports regarding the Canadian crops. This year it vus stated that 1,500,000 acres additional were devoted to the cereal. The yield in 1008 was 124,690 000 bushels, ill 1909, 159,386,000 bushels, mid'at the same rate of production the yield Tor 1910 should be about 2C2,CQ0,Q00 bushel? So recently 1900 the yield was onlv 23,080,000 aushcls. The yield in Canada averages 24 bushels for hard winter wheat, ;>nd 21 bush-els for summor wheat. Canada lias a. urc-at scope lor wheat production. The three provinces of Manitoba, KoßKirtcliowan, and Alberta contain about !>3O,CM,CGO acres, of which only 12 to 14 million acres are under cultivation. It is estimated that of the uuusod a-crcagt at least 50 millions is suitable and availitblo for wheat cultivation.

IUJBBKR. BOOM HUMOUR. Some of the incidents arising out of tllo recent rubber boom, and the experience-, of shareholders in one of the wildest vt'ii-turcE-the Ohristinevillo liubbar Kstaten Company-ns related by "Capital," make- :i very fair contribution to the humorous side of oompaiiy promoting. Tho comn.inv waa formed to deal with n, West African property, purporting to have 00,000 rubber trees on it. :i*rcl it was floated for £80,000. l'ho Zs. sbaros wont to a premium a-t once. Soon afterwards tlio directors received a. mystorioiis nablegram from the manager (upon whose report, with two others, Ilw proiiorty had been floated), tlmt the trees had been burnt and.otherlviso destroyed. The premium promptly disappeared. Frantic cableimimß elicited

a written report saying that, the natives had burnt most of the rubber trees, while jinijrlo and undergrowth had choked the iTst, but that it was a magnificent property, and that a small fortune could ho inside out of growing ginger! Furthermore, there was a. iino business to be done in supplying firewood to Freetown, ami there were tifrns of coal on the estate. The company is sow facetiously termed "The Cliristincviilo Coal a.n.l Firewood Company, Limited." The directors are sending; out an independent man to report at once. The original shareholders arc petitioning Tor a, special settlement with the Stack Exchange, whilst those who bauglit the fliiwcj at a, premium "for special settlement" are petitioning for a delay.

LIFE ASSURANCE COSTS. The irrcdiicibla minimum seems to have been reached by the London Life Association in resard to costs nf administration, and this urbanisation is probably the most economically managed life assurance oilico in the world. Its expenses of nianayeinent of every kind were far the year 1909 only £■! 6s. 3d. per cent, of the premiums, or £2 15s. per cent, of the income from premiums and interest combined. This result is achieved mainly b.v tho avoidance of payments to ascnts and other intermediaries, which is the chief source of expense to other life insurance concerns. The London Life Association was founded as Tar back as 18C6. on tho mutual, non-commission payin" urincinlc. ar.dthroughout its entire history has been very successful in earning profits for itn policy-holders. Its system is to reducepremiums after seven years' Daymcntß have been made, and there arc several series of policies, entitled to reductions, at varying rates, ransing from 51 to 116 per cent. In the latter case no payment is made by the assured, but tho couivalent of the extra 16 per cent, of the nremiuni is accumulated, at compound interest, as an addition to the sum assured. Valuations arc made annually, on a basis that ensures no diminution of rates of reduc!f lon .n?? cc dcc l ara d- Tho net premiums for 19C3 amounted to £380,065, of which 57 per cent., or £216,128, were cranted as reduction; of premiums to policy-holders. The amount of net, liability brought out by the valuation was £4.874.272. which equals the assurance and endowment funds, but there are reserves which brine; the total funds up to £4,940.748. ae at December 31, 19G8.