Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-04

from the prices which stuff would otherwise
nave brought: 1t thus appears, with
these conditions and generally
| steady market, that had they not eX-
| lsted, higher market would have
been experienced, and doubtless more &C
i've one, at an advance, for many were UNI
| able to obtain freights who would other
wise have shipped more freely. In this
view the market stands in pretty strong
position from an export point of view, and
with the removal of any of these obstacles
10 free shipment we will see better mar
ket. The chances of lower freights at this
season OF the year, so near the close of in
land navigation, however, are not at all fiat
terlng, while the trouble in thetextile NAH
u1acturing trade is quite likely to extend
10 the dry goods trade, with which it is so
closely allied, and render importers less
able to purchase those bills of exchange
against grain, which are pressing on the
market from exporters. In this view the
outlook it rather doubtful for the present.
ct, on the other hand, Europe must have
food for her current wants; and, if it can
not be had otherwise, England will con-
tlnue to send her gold to pay forit, no mat
Ter what the bank rate of England may be
forced to; for it must be borne in mind
That their circulating rates represent gold
instead OF promises to pay, and when the
holder presents pound note he can get the
gold for it and ship it to the United States,
or whatever else he may desire TO do with
IL, and the bank rate does not affect him.
When, then, we consider that the greater
proportion of the gold in bank in Great
Britain is owned by private depositors,
many OF whom are engaged in importing
food from the United States, we see that
The advance in the bank rate there is only
going to affect the borrower, and the result
Will simply be to check speculation an
confne importers to their legitimate a-,d
immediate wants, which will keep the Eli,
lish markets in the most healthy position,
and open to our products, which must con-
tinue to move steadily into European con-
sumption. Eventually the chances are,
therefore, as we have noted before, more in
favor of a scarcity before the opening of
navigation in the spring, and higher prices
rather than lower. And there is no good
ground for fears of the future, as the pres
ent condition of affairs will keep the trade
and merchants on both sides of the water
upon legitimate hard pan basis, void of
speculation, and, consequently, void of
sudden fluctuations and depressions which
entail failure and an unsettling of values.
Flour has been dull, with shippers gen
orally off the market, while home trade
have only been buying from hand-to-mouth
to supply their immediate wants, and prices
have generally receded, though the decline
has not been marked. Shipping grades
have been most affected, but at the close
there is more inquiry again, and the market
for those grades is more steady again, while
the higher grades at S. 50a10 90 are in
better demand and steady also, leaving only
the grades between So 75aS 90 dull and
heavy.
Wheat has been in quite steady demand,
yet not at all active, with the exception of
one or two days, when some 100000 bush
els changed hands daily. But the supply
has not been excessive, and the market
closes stronger at 81 32a1 SO for No. Chi
cage, at 81 35Ra1 sc for No. 2 Milwaukee,
81 30a1 81 for No. do, 81 40 for No.
do, 81 2Sa1 SO forungraded Iowa. Winter
wheats have been dull and nearly nominal,
as millers have been light buyers; yet the
supply has been limited, and little decline
has been experienced; 81 4Sa1 50 for red,
81 50a1 81 for amber, 81 Goal Y for white,
are the closing quotations.
Corn has been steadily strengthening,
and closes higher and strong at 61a61Jc for
prime sail and high mixed, 81 ba62c for vel
low, and nOminally Coo for white, which is
scarce. Lower grades have been scarce and
nominal generally.