Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1841-06-22
readily foresee the result of an investment,
as the experienced operator.


We admit that practif gal experience Civ
ing greater confidence, leads to prompt |
ness in operations, whe teby profits are re-
allied and the hazard al an end, whilst the |
lndeclslve are debat ng the propriety of the !
adventure. But it will generally be found
that such operations ale made near the
source of demand and the risk Of serious
losses, occasioned by the.dclay in getting
TO market, consequently avoided.
We think much OF the loss which occurs
in mercantile operations, may be traced to
the neglect Of these views.
The operator at distance tempted by
the advancing prices on tho seaboard, sell
do l. leaves margin enough IN his purchases
to meet contingencies. His best eXertions
are used 10 push forward his purchases,
but owing to the delay incident 10 the tran
sit. he finds to his r, greet that more time
has been spent than he anticipated, and the
market has been glutted by nearer sources
OF supply. Regretting his loss ne ascriLes
to i'll luck what is really an error Of his own
Judgment.
We are led to these remarks from OBJ
serving with great regret, the present f'ren-
zy FOR We do not think it deserves a mil
der name) in the purchases Of bread>tutls
now making or the eastern market.
Prior to The opening of the canal this
season, no disposition was shown by mil
iers or dealers from adjacent states TO in
vest III wheat at over 50 cents ahoal here.
Near the latter end of March large pur-
chases could have been made at trifing
advance over this rate, bat they were UNI
formIy declined, believing it 10 be unsafe,
as twas supposed the price of -four IN the
New York market would recede TO 81 rs
on the opening Of navigation.
About the time Of its opening, the spring
panic Ito which the New York factors seem
pccuIiar Y liabIc) occurred and prices were
unwarrantably forced down to 81 so. Men
of correct judgment at once entered the
market on speculation, knowing there was
no cause TO Justify suck u depression, and
that prices must immodiael y rally. Any
one who had given ordinary attention TO
the daily records Of the newspapers, Of. the
condition of the weather in the agricultural
districts, during March and April, had OBJ
served the impracticabiity Of using the
roads for carrying produce to shipping
points, and II was plain to the COmnOccst
capacity, that there must for the time being
be deficiency in supplies and that the
rush to the sea board would soon be over.
AS there is no foreign demand for flour
In n. rk,and the receipts there last month
far exceeded the wants of the ordinary
outlets OF that market, we felt no hesitation
in hazarding the assertion that large pro-
portion Of The sales Of the past month were
TO spectators who yet hold the flour in that
market, 10 be resold when satisfactory
profits are obtained. The last quotations
hf Ohio -four MAY 3O) were 81 S73 for
good brands which is actuaII an advance Of
only l22 cents per barrel over the price
which should have been maintained ia all
May by the New York factors. Here the
advance has been in wheat from 20 cents
at the opening Of the navigation, to So now
pald, and the flour has advanced from So
so to 81 in store. The only causes which
exist to vary the views of the operators,
since the navigation opened ARE tho advance
of the prices on the seabOard, the advance
in exchange, and the deficiencies in sup
plies, arising it is believed not from large
deficiencies IN the crop, but from the bad
condition of the roads at the usual time Of
hauling n supplies and subsequent occu-
patton Of the farmers in their spring work.
We have already noticed that the adj
vance IN prices at the east are but trilng
above the rates which the factors should |
have maintained had they not been panic
stricken.
The advance in exchange is readily
traceable TO the inability of dealers to in
vest, and the consequent short supply of
bills on New York, occurring at a time
when eastern funds were needed by the
traders for discharging past indebtedness
and repIenishing stocks.
That there is large falling off in sup
plies at this and some other ports on the
lakes ls readily admitted, and those who
had sagacity early to perceye the diminu-
ton, will, owing to the low rates of their
purchases profit by their investments and
shipment east
But admitting there is a deficiency in the
quantity now in the hands of farmers COM
pared with last year, it should be remem-
bered, that tho new crop will be harvested
throughout the U. States within go days,
and that the season for souring is rapidly
approaching, obliging dealers to keep light
stocks. Add TO this the known effect that
such an advance in price Gas has occurred
IN this state) has in bringing out supplies;
the probability that the speculative pur-
chases of last month on the seaboard, will
be again IN the market when prices are
supposed to have reached the maximum,
anticipated decline in exchange, and we
think it must occur to any rejecting mind,
that present prices are hazardous if the in