, 1869-07-09

So. oats ............. OK esE 7S
The advance within the past niue days Is shout
1;e per bu on wheat, 1411c on com, and 6Hc on
osts, or an average Of ID per caut
The r,se Ii pr1ces here has been accompanied
by An increase IN the markets Of Liverpool and
New Yort, but not 10 tue same extent
The tne1tiug cau5e for taia greater s'0rmne8s n
in prices Ia the markets which draw largely on
Chicago fot thvt supplies Of hEeAdst1Cs, noay be
foond In the fears Of short crop, due to the re-
ceLt heavy rains IN this country and In Europe.
The cry Of sshott " Ia almost universal, but
scarcely Justified By the faI,s except In the case
VI cu5p. VI have already ssaset3 the prospects
In these columns; the conclusions arrived at from
n careful surrey OF the whole 1eld are IolIoTa:
The Yield oI wheat Will be fully thse. per cent
Larger than thA1 o1 the crop u 1eto- The area
sown with ths cereal In the Elted States IS about
s.x per tent greater than last year. The winter
heat Is nearly all harvested, and has turned Out
mnch better than the average Our spring Uheat
may prove to have Auneretl 10 some extent from
the rains, bet unless our farmers meet with e1-
ceItonauy bac weather. the average Will not be
materially reduced.
The corn crop will probably fail about QUE
eighth short, the deficiency being met with in the
underlined bottoms Hhcre the water has lz4n
long enough to rot out the roots IN all other SIT
; nations the corn promises well-ncver better.
The ost crop ~lA be fu!ly up to the avesa9e-the
WtHt4ti VI tRA 4tul UelAH [&RnE1 pS1AEutAA ~ l0p
grain han otherwise,
The European has7ests viii be tcarceIy cqual to
these Of the tnltel States, but there win be no
q; Alarming deficiency. We ulay, however, expect
, III Improved call IN Us for consumption In the
ErtIsh Islands.
Tue Prices paid yesterday, IN this city, were 80
much higher Than those warranted BY New York
quotations. that The shippers were non.p1nsscd.
At Sl.s1 htrc, md charge oE 2lc for Transports
II hP1Cf7 7nf Il JAtif
erutl at the seaboard, whereas It #a6 quoted at
only sI.b9 ID New York. Similarly, com would cost
about 5lOl delivered there, while II was quoted at
s-t $50 tu thai market No one expects that this
| difference against the shipper Of grain can con-
| tInue; cne rust advance, or the other decline.
According ag the balance turns wi1 the great ques
t!on Of prunt and loss TO hundreds be determined
We gather Light on The subject only By study
| Ing The chapters Of past experience, md comraE-
Ing ihrm with the conditions OF the immediate lu.
| tu5e as they seem already established.
We are fo17J to he obliged 10 arrive at tho con-
! c!uslon that the prices Of the near and the more
| deferred future will not correspond. That the
! prices now ruling iD the Chicago market will be
| "tmprpTed !" upon within the next few days Is
more than probable; tbat they can be sustained
| into the fall Is quite improbable.
The present condition OF things Is due to tho
fact that the marletE are al practically cornereN,
ard frces have tn:B been forced up artinctal1y.
! TIE spirit OF speculation has been life under the
exciting runors With regard TO the crops, and uu.
I mcFuua operators have s'sold short" both for
themselves and clients fllIy believing that the
ports OF "snort crop "-vEre. .e;Ss31s,su- uuI ID
| sustained. uaa they sold lndiseriuiuately all
| might have been well stth them, but theJ bAye
fai!en victims to system.
That esatcD Is briefly thus: A few Individuals
have quietly gathered Into teen own fingers she
nn!up'e responsibilities OF the men who sold
grain Tor future delivery. These shrend ones
eotld calculate, almost to certainty, the re-
celpts OF grain at this point being very light al
the present time, because during the harvest
kcason the farmers arc too much busied IN eecur-
tnE the Few crop to be atle to spare
zen Or teams 70 send the Ycsldue OF the
Old crop forward Thtlr expectation
WINS that By paying an enhanced price Tor small
quantities Of grain daily arriving, they could kee
the control OF the markets, ard force the nacu Who
had sold property not In hand to pay them heavy
prices on Iarge quantities. The case Will be un-
derstood by 1ne general reader by reference TO the
fact that soue 610, 900 bushels OF corn were sold
ten days ago ut 7Dc, TO te delivered ut that Price
during the nrst hall Of the present month and the
telIers paid SOC yesterday for ! large proportion
thereof, TO the men 70 whom they had agreed to
deliver II al 70c.
AZ la1ge number Of these options are st!ll ut-
settled. II lpass to say how high prices may
20 before the end Of the month Wheat may 3D.
VINCE to sl.s1, corn to sec or s1.oo, and oats to
SOC. The chances are that uhest will ADVANCE tue
Eost r.pldls. Is The price has been kept dosn bJ
the Father iberA receipts from the northern Bec-
ton Of the cuapsrJ t.butazJ to Chicago, tho hag-
vest not having begun there, while the receipts OF
cord, Icing principally from tho soulh have
dwind1ed down during tho earlier harFest lahora-
Wheat Wt11 soon drop oH, as the receipts Of con-
may be e1pected to increase, the place OF harvest
ActlTjtF RfHJtuatfF mo MI