The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1871-05-06

The first of May generally marks an
epoch in the provision trade, and deal
ers who do not make early sales of the
hog product generally arrange to car
~ their stock over the first day of the
fifth month. The condition of the
market for the last sixty days has been
peculiar.
The stock on hand is unprecedently
large. The foreign demand which
has been looked to with much interest
has been unexpectedly small. A few
Eastern parties have been holding UNI
usually large and increasing stocks.
No effort has been made by them to
sell, and yet prices are going down
steadily but surely, with hardly raj
lying point to relieve its monotony.
and the first of May finds very large
stocks and very much reduced prices
all around We give from the New
York Bulletin, the following account
of the provision trade in that city:
''On the Hog product the market
has been very feverish and uncertain,
and has worked great deal by con- I!
traries. The previous liberal decline
on all styles had brought prices down
to an unquestionably cheap level, and
| in many cases below the calculations
of the most persistent bears and the
long deferred demand for actual goods
seemed about to develop itself, both ex-
porters and domestic consumers COM
ing forward and taking very fair
amount of stock; but still the offer
ings continue large. Holders mani
tested desire to realize, and values,
after some temporary reaction, as no.
ted at the close of our last report,
again commenced to recede, and the
position became about as fiat and de-
moralized as at any one time during
the season. A sort of apathy appear
, ed to take possession of large proper
ton of the trade, and when the buyers,
who had appeared about ready to
work off a portion of the stock began
+ to withdraw, the disposition was to
/. refrain from all further attempts to at
tract business and quietly await the
G time when the market showed conclu-
!. siyelv that bottom had been reached,
: a point which had already been set
!. down as certain more than dozen
# times probably since the decline sci
t in. The speculative movement has
Y been spasmodic, and in the aggregate
It fair, with the tendency almost wholly
It downward, rather to the disgust of ;
+ good many Shorts who, covering a
II what they supposed to be the loves
Il point likely to be touched, have tount
lie values just little further on tn
&C slrinkage, with each succeeding day
: and plenty of supplies available t.
Of meet contracts. Still very few, if any
l. fresh sales have been made; an
lie though it is natural to express regre
Dt at the loss of the additional profit whic
l. might have been secured by waiting
Id little longer, no one operating think
If that anything but a panic can force
n much lower range of values. For tn
if continued free offerings we can find
" few current positive explanation
a. though it is surmised that private di;
of couraging advices from the West, an
n. a want of funds among the leadin
IN holders, may have had something
e. do with the matter, or possib
nd conviction that buyers who wi
n handle actual goods must first be Ell
as ticed into the market by low prices b.
fore any advantage can be gained |
zee those who are interested in gainir
lis some basis for stimulating, intluenc
" 4 few exporters have been induced
IT operate at the decline, some in sem
lot speculative sort of way, in anticip
he ton of an ultimate good margin Fl
es, profit on their purchases, but as I'll
I'D shippers hold off for positive instruc
la from home, and as the only appare
sv- means of getting goods out of t
Sc country, owners in some cases ha
forwarded parcels to Europe direct
- their own account, to take all
chances"
The decline from the highest prio
which have been realized to cure
:, rates is fully equal to IS. per head
hogs and with crop of four millio
- the falling off in price will reach tive
ne, ty millions of dollars in the aggrega
the Farmers are but slightly affected
av tire change as they generally real
an. their money when they sell their err
D. ofhogs-but the losses on the ste
now in market will fall on such p
WI ties as are not entitled to great
ay- of sympathy. The 'Cliques' and &C
Ient ners' who from controlling la
him amounts ofcapital make their mol
try by putting the prices up on the c
mr. sumner if successful, and failing in t
-, they submit to their losses as best t
'' can and hope for better luck next ii
lion -
4