The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-08-20

The Albany Journal of yesterday says
The Detroit and Milwaukee Railroad Company have
Haven Qhe western terminus OF the rosd) Mw
They are TO take their places the route uex, week
leaving Buffalo Monday next, with q parry OF the
friends of the road
We read in the Cincinnati Gazette OF August IL
The market for breadstufs during the week has besn
very much depressed and prices have declined materially
closing with dragging and spritless trade This
10 the unfavorabe advcss from New York. where pri2S
have continued TO fall of more rapidly than In this
notwithstanding our currency still relatively higher tia
seaboard quotations II s evident the dealers here arc
more corfcen Of reaction In the immediate future sn
those the seabosrd In fact there seems TO be no
denoe at all at the East and prices are crowded down
the lowest level touched within the last five years was
to be the landing and resting place for the declinug
currency An impression seems 70 prevail that enor
mous surplus Of wheat will be thrown upon the MAJ
kets from the West, without regard TO what it NAV
bring. THIS, az We have heretofore minated IA
not in accordance with the calculations of producers
and before the fall season fairly sets in parties who
are anticipating heavy supplies at the seaboard Will
find 1t necessary to review their opinions Whatever
may be thought % TO the principle that likely to rule
this matter in view Of the fact that large proportion OF
the surplus grain now In the country represented bv
debts most Of which are overdue the boarding process
VIII be extensively practsed. and shfewd business men
will shape their operations in accordance with what is to
be- rather than what ought To be- II ia also TO be re-
increased yield Of the harvest of 1859 that of 1883
for In the latter year large amount Of the crop of 1851
was carried over, while this the markets were 10
great measure bare on the ls o! July This is ia
portant fact not 10 be lost sight Of There Ia no more re
son. therefore, 10 look for an extremely low currencs
than there to anticipate the re establishment Of faina
prices ana hence the stampede in New York s either thu
refuI CT panic or caused by inform alton regarou
foture supplies that not reliable. This state OF thns3
contributes much to produce the prevailing stsguatop Ia
the west and until the views Of raders and PRODUCES
are brought coser together change for the better s %
be expected. These parties occupying opposo
extremes, the first anticipating very low prices and tn
second noding for the re-es,ablishment Of high cur.
rency. Farmers however, in this section would sci,
neey OF wheat at 81 per bushe but lower figure,
they will not submit 10 II fhey can help H. Sons
OF the New York papers talk abou. 81 per buahsl
s enough for wheat in that market. This would ba
equal to about roc. here, and IL would net farmers
throughout the West an average OF 40c 10 &c. nnao
cal earthquake might the crops at thoee ngures
but without the interference OF some extraordinary
vuflon OF the commercial elements ID hardly proba ,e
tnat farmers will sell great deal Of wheat season 81
equal 70 u per busbe In New York. II Is come VIVA. 70.
akaoe that current prices for wheat and -four CORES
Poho almost precisely with the quotations at this date Ia
year Inc nsuIes compre thug
p prOe wn a Sneat..sl 90 81 o6 81 90 81 os
s sInea req wheat...... Goa 95 $50 81
suLerfre -four. ......... so 60 40 co
mere s tns important difference however in the COO
oluop Gi !pe trace at the two perods named Ia 1859
prices had an upward tendency and In two weeka aon,
advanced t0c. per barrel and wheat IOc ner hnshaI
while now the tendency is downward There IL s,iIl
another feature worthy Of notice. Lat wear there ao
large surplus from 1857 With short crop for 1874 Will;
this year there no surplus Of old wheat and the eros az
new equal to or somewhat larger thau that of 1887 n
may eleo be mentioned in this that thaye
ing been no European demand for our cereals lat
any change this season must be for the better