The Elko independent. [volume] (Elko, Nev.) 1869-1872, 1870-07-20
The Latest from Europe Gold. Grain and Mir
ing Speeulations.

Ing opeCuibnoub
By private dispatches from New York up to
Eve o'clock last night Q9th) we understand
that no fighting has yet taken place between
the French and Prussian troops. Negotia-
tions were pending between the great powers
relating to neutrality. Both armies are pre-
pared and are facing each other, ready at the
tap Of the drum TO commence the sanguinary
contest.
Gold was quoted yesterday afternoon in
New York K ,2i11ss =, making Ike value ofgreen-
backs about 50, fall Of eight cents in the
Last te- !sys.
A dispatch to the INDEPENDENT yesterday
evening states that the gold and grain markets
are in q state of intense excitement. Legal
tenders are going down and grain going up.
Previous dispatches of the 18th stated that
wheat had advanced FIVE cents, corn from
three 10 five cents, aud -four from fifteen to
twenty-five cents. Speculation hes rsa wild
since and the advance haa probably been pro-
Portionally great,
The grain crop in Europe is below the risu-
nj average this season. The war coming close
upon the heels of this scarcity, is creating an
immense real and speculative demand for the
CIOp III aiutElCd. Inc Oh SaItIOrn1N
and Oregon, who have been suffering from
the blues during the past two or three years,
have now an opportunity to more than satisfy
their losses with the present crop. If the war
should indicate long continuance, there will
be more ground prepared this Fall in Califor-
mia than ever before. The Bulletin of the 10th
says that transactions in the San Francisco
grain market have ceased, holders waiting for
better prices. Number two Spring wheat was
in great demand in New York on the 10th at
81 80 to 81 10. Large remittances are being
made OF gold from San Francisco. S750,00O
having been shipped last week by railroad.
A million and half left New York in single
day for Europe. ..
The opinion of A. T. Stewart, ofNew York,
that the war will produce an advance in the
prices Of imported goods, especially French
and German merchandise is undoubtedly
correct II the trouble continues long, we
shall find partial compensation for this loss in
the restoration Of American commerce. At
present the carrying trade on the Atlantic is
almost exclusively in the hands of European
nations. It is expected that the Pacific Mail
Steamship Company will at once put on line
to Europe. The German Lloyd's steamer at
New York has been ordered not to sail until
further orders. Freights on breadstuffs
having been materially advanced, it will be
the fault Of the American people if their COM
mercial marine does not speedily become the
principal medium Of ocean transportation.
The war will be servieeable to the acricul-
turalists of Nevada, but may have an adverse
effect on mining interests. The diminished
available specie, the advanced price of i'm
ported merchandise. and the opening of bet
ter opportunities for successful speculation,
arelikely to depress the stock market, and have
already done so to certain extent. The de-
mand for breadstuffs, pork, beef, etc, will
be hailed with delight by the farmers, and now
Is the time for them 10 reap their harvest of
wealth. .J..'... ..|.s .F.l