The New York herald., 1846-06-03
NEW YORK, WEDNESDAY MORNING, JUNE g. 1885,

price Of free wheat has been mainly caused by this be-
period when. from the unwillingness Of millers and
others TO add to their stocks the demand has been
suay restricted. Under these circumstances think
may NOT be amss to examine carefully the real posi-
ton OF affairs with view Of checking useless alarm
That the of the value Of wheat will be
gre atty in this country by the contemplated
reduction in the duties feel satisfied but whether this
depreciation will be immediate admits OF doubt
In the first place. tits undspued fact that all part
have anticipate of the liberation fthe wheat in bond
in the kingdom allowed their stocks TO be reduced
extremely low seo and 70 ph. Srs las ~ ne posi-
far greater quantity than that now under the Queens
locks. When. therefore, the uncertainty which has
long interrupted the regular of trade shall have
been removed very extensive demand is likely TO be
experienced and the million and half quarters now in
bond when released, is likely to be very speedily
distributed The point be considered Is the pro-
bable extent OF the supplies from those countries which
usually send their surplus growth to Great Britain
From the Baltic the shipments have hitherto been
paratvely Insignificant and there cannot therefore, be
any great quantity on passage At Danzig the most i'm
held, and owing TO the Indifferent result Of the last har
vest in Poland and part Of Prussia the supplies from the
interior expected to be much smaller than in ordinary
the total exports from thence will therefore, in
probability be only to moderate extent At the Lower
Baltic ports the quantity OF old wheat remaining tring
but the last harvest having yielded better in those loca
ties from whence Rostock. Wismar, settin, aud tho
Isghborng ports draw supplies the exports from those
o no
parts of Europe Respecting tho probable extent OF the
Mediterranean supplies not in position to give
demand from the interior OF France experienced at Mar
seles, think the shipments from Italy, &c,
likely to be directed to that quarter than to Great
Britain unless the English markets should hereafter
hold out much stronger inducements to consigncrs
than at present The quarter from whence the
greatest quantity Of breadstIf may be calculated
is, therefore. in our opinion, America but, making
every allowance for an extra supply of Flour
from the States and Canada doubt whether the ex-
tent of the importatons will be great seriously to
influence uoations here should any thing give
rise to apprehensons respecting our % own crop We
will, after ALL have much more to do with the range Of
prices of wheat for the next two three months than
the latter having already, in opinion been in great
anticipated Up to the present period the
growing wheat plant is certainly not Of SO very proms
ing character to afford just grounds to calculate
year Of extraordinary abundance We therefore, arrive
at the conclusion that the ctrograde movement which
has lately taken place. has been nearly if not quite
great has been warranted by circumstances. AS yet
however there is appearance of check to the fall
At Liverpool on Tuesday the Mark Lane accounts Of
the previous day produced quite sensation great
reduction as that which had taken place in the London
ed to facilitate business by submitting to reduction Of
ID to Cd per 0bs but at thai abatement they found
issue of the law debate before adding to their stocks
The purchases made were therefore. only to supply
tent On Friday there rather less anxiety to press
sales but the currency OF the preceding market cay
could no, be exceeded for even the finest qualities
extremely dull but the decline in the value of wheat
has not been quite important in that quarter in the
metropolitan market. At Leeds on Tuesday factors re-
fused 10 accede greater fall than As per quarter and
the mers declining to pay the rates dcman led the
ratons were a restricted scale. This also the
Hull many of the farmers attending that market
preferrng take their samples home again rather than
accept the terms offered.
western markets. particularly at those held towards the
close Of the week sellers displayed rather firm
lers to buy 3s to per quarter less had to be taken
BY advices from scotland it appears the dull
ports from the south had had their usual influence and
and though factors had shown disposition to promote
business by accepting materially reduced rates, very
little had been done. At Edinburgh. on Wednesday,
wheat quoted 3s to per quarter lower than that
day sennght and at Glasgow the decline was nearly as
great
ported distress the supplies of wheat and oats had
than kept pace with the demand; and that fall in the
value OF both articles had taken place at the principal
markets
The arrivals Of wheat coastwse into London have not
beenparcnlary large as compared with the receipts
crease; still the quantity brought forward has in the
present dull Of the demand proved fully adequate
to the inquiry On Wednesday tho display of samples
consisted principally Of parcels left from previous
supplies Factors seemed less eager to press sales than
in the commencement Of the week and not only was no
further abatement submitted to- but some difficulty was
experienced in buying at Mondays currency. This was
also the Fridays indeed the hrmness Of holders
had evidently been increased by the somewhat cold wet
weather which had, in the interval been experienced
The Indifferent condition in which large proportion of
the homegrown wheat continues to come 10 hand
ders mixture of old foreign necessary and there
scarcely any ofthe latter remaining in ganary on which
the duty has been paid buyers have been compelled to
take small parcels Of bonded to supply their immediate
wants. A moderate vent for lock wheat has thus been
afforded but there has been speculative inquiry for
ally lessencd by the fall which has lately taken place in
bonded certificates Sales Of these documents were, on
Monday, made at 9s per qr the demand subsequently
became more active, and most Of those remaining on
Wednesday were held at es 3D., whilst on Friday the
price had rallied to los per Or The late abatement in
the value ofwheat has yet begun to inhueSce the
averages indeed the last weekly for the kingdom
was higher than the average for the preceding week
and the aggegste having risen to sos per qr the duty
has fallen to los. per Or As Wheat has receded from
S. to Is per Or in all parts Of the country since the be-
ginning of May rather important reduction in the ave.
before the time the new sale Of duties could come
into operation, should Sir Robert Peel succeed IN
passing his BILL the averages may have fallen to such
an extent ss to disappoint importers OF foreign
wheat. The proposed plan is, It will be rccolected
sliding scale on the principle as that now in force
the difference being that the duty Is to hucuate between
Is. and l0s instead present. between Is and 20s
The highest duty is to be levied when the average price
for every rise Of Is in the average until the latter reaches
5+s when the duty to be 4s per and not to fall be-
low that point There was till recently every prospect
Of entering the bonded stocks in the bill was passed
at the minimum duty but the late depression in prices
may make alteration in this respect
The top quotation Of own-manufactured four has Tor
weeks past been very unsettled during last month, and
for time previous the nominal price for the best
town marks was 53s per sack subsequently tnc mers
succeeded partially in establishing rise Of Is, which
was, however, almost Immediately afterwards lost and
the highest quotation is generally considered to be
per sack Ship -four has been selling at irregular
rates. and has been difficult to exceed 40s for Norfolk
households.
Though only s4lo qrs of barley have been received
during the week. this grain has moved of very tardy
Mailing qualities have been almost wholly neglected,
and feeding kinds have been in less request than usual
this spring owing to the abundance Of all sorts Of keep
for cattle &c.
The retail business done in malt during the week has
been at about previous prices
The arrivals OF have been to fair extent the to-
tai supply, inclusive II, 1874 qrs from abroad, having
amounted to 81 s3a qs The trade has throughout the
week been excessively langud. but lower rates than
those current Monday have not been submitted to-
The duty this grain fell to SIS per Or on Thursday
with the prospect however of being able to enter at
Is Cd per Or under the proposed new law few importers
will, we think, pay the IS. duty.
Beans and peas have excited little attention. and their
value has remained nominslly unaltcred.
At most of the continental ports prices Of Wheat are
gradually tending downwards and from present appear
ances inclined to think that qu Citations win
cede still further, unless rally should take place in the
English markets.
In the Baltic good red Wheat may now be bought at
AS and the best sorts at 46s free on board The
freight lower London Js. 3s. I'd.