The St. Cloud journal. [volume] (St. Cloud, Minn.) 1866-1876, 1869-08-19
2'.' LITTER FROM ST. LOUIS.
Prospects Of the Grain Market.
NA1L8OADS W. STEA llBOATD A
PREIGI1TER1.

RAILROADS W. STEA l1BOATD Al
FREIGHTERS.
IT, Louis - Manufacturing Point.
From Our Eeqalar Corrs.pondeu.
sT. LOUIS, Aug. 10, 1859.
EDITOR JoURNAL.-Some of the
readers Of Tue JOURNAL will remeu..
Der the views your correspondent ex.
pressed last winter on the price that the
finishing mp Of the wheat crop Of 1868
would bring. We have now and have
had for sixty days past knowledge JUS
titled by large purchases that the grain
crop Of Europe for 1868 was most de-
cidedly a failure; and while I always
advise tie producer to sell his crop
when he has it ready for market, IS
does the merchant his goods when he
places their on his shelves, and sub
mits to them market value, knowing
from actual observation that the pro-
ducer or the merchant who sells when
he has his grain and wares ready for
buyers makes nine times out of ten !;
still with all this 10 view, am . little
on the "bull" side this time. Wheat
has been so forced on this market since
tho new crop came in that it is hardly
Of any value here, and is being ship
ped to such small markets as Chicago,
&c. I predict that No. 2 will not 20 be-
low s1.10 to $l.oo per bushel for the
crop Of 1869, at say Milwaukee, and
from what I learn Minnesota is not 90
ing to have much No. 2 this year. l
have seen French and Russian cores
pondencs asking about wheat and flour,
and there has already been purchased
for Russian account both wheat and
-four at New Orleans in large quanti-
ties, and when Russia looks to America
for grain something is the matter.
alluded to the movement Of tho
Railroad Companies as freighters of
grain in my last, thing which seems
to be utterly ignored on the part Of our
Grain Association here. Now, the costof
transporting freight in Europe will not
exceed 18 cents per ton per 100 miles,
exclusive Of handling, and there they
figure to more Of nlcety than va do
here. From Buffalo to New York the
railroads are now taking wheat at 10
cents per bushel-being one cent less
than the beats can take owing tothe ca
nal tolls. This will bring the railroads
about $3.50 per ton, and at this they
are making money, and the boats have
hauled into their docks at Buffalo and
quit the grain travel. As l said be-
fore, the railroads arc going to carry
grain all winter to the ea-board and at
such rates as will justify. The roads
have been built at great cost. many Of
them need new rails and ties, and money
must be earned If. it can be at a profit.
What becomes Of the great water route
to the sea may possibly be demonstrat-
ed in the fact that the stock Of the "St.
Louis Grain Association 500 paid
10, drags at $40 per share, whils it is
generally believed that their capital is
full and not impaired single dollar
We must get into the manufacturing
business aud make St. Louis the Bir-
mingham Of tho new world, and use
our great 'ivens to supply the valleys
With the products Of iron, lead, zinc,
&c. The little furoace that was start
ed last year, aud which the Editorial
Excursion from Minnesota and Wisoon-
sin visited when here, costing may be
5000, (probably less) has made in
clean cash every day since the first pig |
was cast 5000 above expenses. The
supply is inexhaust;ble and the demand
never satisfied. More are wanted and
more being erected. Blessed be the
day when We shall quit buying foreiga
iron, especially railroad iron. St. Louis
has the money necessary to carry on all
the enterprises in this direction. All
she wants is the will, which might be
superiuduoed by about forty frst-class
funerals.
The weather has been very hot
Merchants are hopeful of heavy fall
trade, which I earnestly hope they may
have. If large crops arc any indica-
ton, great trade must be had and be-
gun very soon. Peaches, tomatoes and
apples are quite plenty; Irish potatoes
ditto and very cheap sweet are making
Their appea1s ace, and are very high Of
course. r. vi. -
Signs of = serious spli: in the
Mormon Church are apparent. Two
go. - - o-:Al A.. rl: