Cedar Falls gazette. [volume] (Cedar Falls, Iowa) 1860-1895, 1870-07-01
NUMBER Il.
THE WHEAT HoFEaENT.
The Reason Why IL Wsat MP aad Why
1t Weat Dowg.
From tn, Chicago Trisdn!, Jaae ri

From tbs Chicago Trisuu.. Jaae ri.
After hong daitHers In the wheat
n,rkets of Europe. with u rarrus-
ppuding depression in prit es au this
Sitle nt the Atlantic, All ur1elil de-
natti has suddenly sprung up ~
England and ifratire, wltch ha- sent
prices up Httli bound, the price uf
M spring. ~ this market, hav-
iug advauccd - c-tits since thr lie.
gintIing ct the pfraetlt month -.
Strangely enough, tile rs.su ~ ntt
tias heen o cause an accamulation OF
wheat here an Milwaukee. 50 great
that capitalists ar" staggering Z under
the uHaccastomed ioti, Httd vet seem
almost powerIe~s tn get ritl OF IL. it
may. heinteteSting to glauee st tho
causes of this annm1inuS situation.
Long cnntlnuei dfolth has rcn-
'lele III certain ttiat tho whaat crop
IT France will fall consiIeralte ne- O.
lnw the average, AMI the Weld vi
Great Britain will also he reduced
| from The sainr cause, lhnnSh not to
| so great an extent, white the pdilti-
eat difficulties lprtween Russla aud
| sgNnt, nn one shie, aud fIrkey. on
the other, threaten 10 interfere with
| the supply from Asia Miuor aud tho
| Crilnea, which have hitherto s.nt
large quantities of wheat to western
Europe. In view of these facts, the
french have receutlv bought largely
~ the markets OF Engiand nnd tho
United States and the movement af
wheat cut of IiverpSol u a. heen 80
great IN To cause - inrgc denul
finm that city on New York 10 aun.
piy THE detici,'n''Ies ~ Great Britiar,
rhe vessels which left our Atlantic
pnrts for Europe. were soon taxed to
their utmost capacity. ard the lie.
inanh ter ocean freiLhtage, caused
the addition NJ several vesses ~ ex~
isfing lints This caused un advance
in New York prices, hut only a md.
crate one, ~ New York dealers
knew the west was stocked to over
lowing, md feared that the extra
lenlaud would not prove cqual ~
he enhanced suppy which would
'e called out 10y th9 advance In
pricps
Western prices moved upward.
tn. farmers at once hegan To teiur IN
their stocks. in increas,d volume,
Ipau Chicago and milwaukee,. bnt
nIny ri item began to speculate on
~ Sita ~ ion. and sent in large ar.
expertarinn of sliil gfea,er advance,
Shirh they based al, an anticipation
Il u short crup ia many portions ~
,he United states These orders
'.nu~ed 80 much cnn,pettirn beiween
'nrrr- that the price nf wh:a.in our
western markets suoa reached ~
l,niut ~ witch IL was imphSsit!e ~
ship the grain out nf Chicago except
at n heavy l1ss The cost nf nipvIaz
= hu~hcl uf wheat fGun tlhs city 10
New York. il scarcely less than .!
.~nts tn day, including storage
charges here, whereas prices la CHI
,.,s" nave lmen only 3 To ID cen's lqss
tlhu New YORK prices for some time
past, and were only llcyats less yes.
'rfoiay. THE nsrgin of loss threat.
'ning the shippers has thus ranged
ESnm \ Ia II cents par bI.hci. und it
= ~ wonier that tnry have declined
Ia ptnpty the elevators unaer the
circumstances, tlenrr. white there
= 80 Freely M ,rt' than 5ll,ait has efs
~ New YORK To day the Mil ssukee
,torelinHsr~ contain l.DD,,0O bushels,
Ind tha-. at shita-o shout 2lJ0, ,A@)
'u-hei-; aud tIit,is 10 n tlnirtf thc
r"ar when they sAOdid b1 nearly
empty.
III" G ms,quenrr of thisovprapecu.
iatinn can scLrcr2y lac oIhrrw - tAar
.lisa.i ruHs Already some of the
sniik- are refusing to lenI money for
| he purpise OF carrying waelt in
| ibts cry. The necessary result uf
hl* Wal he hu equalization az pric,
t'eI wrrn the east aud the west. Ii
| New York prices do not advHnee,
those az the west mast rrredr I'LL the
ginifi eau ~. moved away without
lnSs Ia tue shippers. This cousidera.
| tipn ecidentiy iiai some WEIGHT ye.-
| irr'lay, u was shown IN decline of
| fully tSn cents per bu-iiel. IL will
be well " TIE inequality be removed
| spee,lils; otherwise We may eXpect
4 repitlian uf the Il st>truus exiIeri-
auc"s of 1868 %. when wheat WAS ~
runIlIci IN ne y y the sthle way.
lfni drorprd from the neigh iarliood
of - In September 1868, e. - eents
last winter.