Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1868-07-16

States 5-2Os at 724. ~ 81 sE /.
Exchange on New York was bought by
the banks yesterday at par, and sold by
them at fc premium.
There is but little demand for govern
ment bonds. The banks buy at shade
under the New York rate, and sell at
about DC advance, ....---...--.-.
New Tennessee bonds were quoted in
New York yesterday at 69s.
Nashville corporation checks are I'M
changed Dealers buy at 85@8Sc, and sell
at 9Oc.
The st. Louis Republican of the l4th
inst. says: .a
Flour was dali az ever, and but few
transactions are reported. We heard of q
sale of "Shaw's Principle" 1000 bbls, for
August delivery, on terms kept private;
but we have reason to believe $40 per bbL
Wheat in better receipt, yet not much
over half the receipt Of same day last year.
Very choice samples were the exception,
and ruled firm at 81 %, and in some cases
81 80, which prices we regard as too high.
The inferior qualities were lower and in
active. Corn was not very buoyant, de-
mand being light and choice yellow and
white scarce. The provision market is still
quite firm, and lard, bacon and clear sides
higher. Other markets generally I'M
changed.
We are again in receipt of advices from
the Northwest under date of the 10th inst, /
from which We quote as follows:
eve have had another week of very fine
weather, and nothing could prove more en-
conraging than the present crop prospects.
We have been favored with occasional
showers, which have relieved any appre-
hension of damage resulting from drought,
and it would now seem as If we only needed
favorable harvest weather to secure a large
and fine crop Of wheat. Very probably be-
fore we issue another weekly letter, the
first wheat will be cut in this State-Wis-
consin-although it will be at least two
weeks before any amount Of cutting is done.
There is great confidence felt that the de-
mand for old wheat will absorb all our sup
plies between this and harvest, and if re.
ceipts continue as small as they now are it
is not unlikely that this may be the case,
but the near approach of an apparently
bountiful harvest induces caution on the
part Of dealers at our present high range
Of prices"
Here we have renewed assurance of an
abundant and fine crop of wheat in the
Northwest. A few scattering complaints
reach us daily In regard to winter wheat
Our Illinois friends in the region of St.
Clair, Jersey, Calhoun, Pike and Green
counties are complaining bitterly of the in
feriority of their wheat. Rust is said to
have injured all Of it more or less, and
much disappointment Is felt by the people
of these counties. We think perhaps the
damage may be somewhat exaggerated, or
it may seem more general and severe be-
cause Of the unusually sanguine eXpecta-
lions previously INDUCED. II seems quite
certain that in portions Of the counties
named, the crop has suffered sevely, but we
really do not see why even a total failure
in FIVE or six counties should have much
effect on the aggregate harvest. We hope,
and we believe our hope is well grounded,
that the deficiency in Illinois will be more
than offset by the increase in Missouri. We
think therefore that all efforts now being
made to enhance prices as based on these
unfavorable accounts from few localities
are ill-timed. Millers can much better de-
lay the commencement of operations a few
days than pay fancy prices for wheat now.
Prices ere to-day Ssked for choice brands
of -four which are nothing short Of pro-
hibition on purchases In this We fear a
mistake is being made. There is no very
pressing demand for new -four as yet, and
We trust our city millers Till not consent
TO open the season with prices which can
not be sustained. We need not stop 70 point
out the Disadvantages Of declining mar
ket, or how unsatisfactory ii must prove to
all concerned.
We saw on Change to-day two samples
of wheat from Caliiornia and one from
Oregon. These samples, and particularly
that from California are perhaps hapd-
somer than anything of the kind ever be
fore seen here. Large quantities OF tbs
beautiful wheat will reach the East ibis
season, and, indeed, we learned Is now pc
ing offered in New York for future delivery
at prices no higher than is paid HERE To-
day for choice wheat. California Will have
millions Of this wheat Tor export, and i Is
certain 10 come 10 competition with ours.
This fact alone should admonish our millers
not TO yield 10 the temptation OF high
prices jnst yet. Spectators and brokers
are struggling everywhere 70 keep prices
up, but their success is more than doubt