The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1866-11-20
Decline in Priccs-Good News.

VI SA"hh ''iAt "oti, "uU IHey succeed
ed IN running these articles up to
very high figures. Flour for several
weeks commanded higher prices than
when gold was at 2S5. But it seems
now that there are enough grain and
flour in the country to supply all de-
mands. The Chicago Republican, of
the 18th, says;
The grain markets in this city dur
ing last week were subject to most
violent fluctuations On Monday
last, No. l corn rose rs high as 81. 10
per bushel, but the market gradually
became weaker, till, on Saturday, it
was sold as low as So cents per bushel
"a decline within five days OF %
cents per bushel
During the same period, the wheat
market was also unsettled, and we
have to note u decline in prices of %
cents per bushel on No. l spring, and
2O(121c. per bushel on No. 2. On
Monday last, No l spring wheat was
sold in this market as high as 50. %
per bushcl, and on Saturday last it
SIooSl <tG ~ per DUSlel
Oats declined 4 &c. per bushel dur
ing the week. No. rye opened on
Monday last at $1.09 per bushel and
closed on Saturday at S9c-a decline
within the week of 20c per bushcl.
No. barley opened on Monday at
S5c. per bushel, and fell on Saturday
as low as Go, closing at G6(a67c.-a
decline on the week of 1S(02Oc. per
bushel
The Cincinnati Gazette, of the 18th,
sings the same song of tumbling
prices:
From every quarter we have
advices OF declining markets, for
almost every article OF produce. All
speculative feeling is, for the
time, suspended, and operators act
as If the markets were believed to be
bottomless. In New York, yesterday.
beef cattle sold at about what they
cost in Kentucky, and hogs broucht
less than they were bought for in
Chicago or Cincinnati. Mess pork,
which two weeks ago sold as high
as S35, is down to S2475; lard has
fallen from pc. to lie. for prime;
Hour, wheat, corn, rye, oats, &c. have
been falling steadily, though still
comparatively high. Dry goods arc
declining, as are also groceries; and
finally, fancy railroad stocks, which
were going up rapidly few days ago,
are tumbling.
This news from New York has its
effect, of course, throughout the
West, and the great levcling process
Is everywhere experienced.
Our dispatches from Lexington.
the great stock market for Central
Kentucky, report 4 define in sheep
yesterday from &c. to &c; hogs,
from Sc. to 5a6c. cattle, from 7aSc. to
5a6c. horses 20 per cent, and mules
$15 per head.
There is Il bottom to the markets.
of course, and the indications are
that it will soon be reached. The
practice of boarding produce, which
was rendered practicable by the
abundance and cheapness of money.
rendered this break in the market
inevitable. TO such point had
values been carried, that exports
were not only checked, but we were
actually re-lmporting leading articles
OF produce from England. Now the
tables are turned, and our foreign
exports arc increasing.
But money being plenty, the pro-
bability is that violent re-action
will take place, and capitalists will
again attempt to monopolize stocks
and force prices up, compelling con-
sumcrs and producers to unite in
paying the fiddler 1t will not be so
easy to do this, however, as it was o
year ago, Within the last six months,
boarding produce has not paid.
Within the last sixty days, it has
certainly proved disastrous bust
ness.
And bow let consumers see that
they get the advantage of the de-
cline. Let them bear in mind when
they go to their butcher, their baker.
or their grocer, that there has been a
large and pretty general decline in
prices recently; that hogs have fallen
thirty-three Per cent, beef in pro-
portion, and that hour is full a dollar
barrel lower than it was week ago.
Cincinnati Gazette, 1871.
The New York World notes quite q
panic in the meat market of that city,
in consequence of decline in prices.
1t has a despatch from Buffalo, which
alleges that "the Western drovers,
who boxa haa,, Io11;,c. 1o,o.> 1...L.