The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1874-11-26
DUR MILWAUKEE, CORRESPONDENCE.
Their Views as to the Wheat Mar
ket.
MILWAUKEE,, Nov. %, 1874.

MILWAUKEE,, Nov. %, 1874.
Editor Anti Monopolist:
Since our last the tone Of the wheat
market has completely changed. The
weakness and continual decline has been
followed by liberal reaction. and the
s'bulls'' have been masters of the situa-
ton. The receipts at the lake ports
have beed smaller than was expected,
and the shipping demand has been fully
equal TO the supply. The inquiry has
been mostly for choice samples, and as
a consequence orders have sought our
market in preference to others. Our
stock Of wheat is reduced to quarter
million bushels, and will probably re-
main small during the present month
or until navigation is fully closed but
the accommodations N Eastern markets
are large and the amount in sight Is
about one million bushels larger than
last year. The present upward move
ment, although stimulated by legiti-
mate demand, originated and has re.
ceived its main strength from specula-
ton. 1t is a well-known fact that most
of the wheat in store in New York Is
owned by Western men, who have been
s'bullng' wheat from $llO down. The
pork packing fraternity is largely rep
resented, and now that the season has
arrived when they will need their funds
in their business, they are naturally
DESTROYS of releasing them, with as lit
TIE loss as possible. To this end sys.
tea OF manipulation was organized, and
with good effect. New York advanced 10
cents, and Liverpool and Western mar
kets responded. The ''bears, although
confident that there is, in the present
outlook, nothing legitimate to warrant
an appreciation OF values, have still ex.
hibited some nervousness, and good
many have covered their outstanding
sales. The question now is: Will the
present tirmness last long enough to es-
tablish confidence and induce capita, to
seek permanent investment in wheat
or will present holders step out as soon
as they can with safety, and, in doing
SO, bring about an inevitable decline !
In Chicago, which is re.eminentiy a
speculative market. the feeling is in ia
vor of higher prices; while in our mar.
kct, the reverse is now the case.
With due respect for the opinion
entertained by your readers in regard
to speculation in grain, we con.
slider this element as Of vast bene-
fit to the producer during the winter
season, as withou. it.and with granaries
filled to overho wing, and no practical
ontlet Tor the grain, heavy depression
would be felt, and hence We attach con.
sidera bic Importance to the speculative
pulse. Liverpool adviees have been bet
ter and "a pence higher, but closing
adyices are dull with business checked
on account of the advances. Shipments
from California and the Black Sea will
soon arrive and swell the receipts. We
notice that liberal proportion of the
latter are destined for the continent.
AS rule, spectators take hold Of
wheat after the close Of navigation. and
a temporary advance in January is the
result. This may be the result this
year. but we must not shut our eyes to
the state ofaffairs existing and recall the
experience of ls69-70, when wheat in
November sold at So to pc. and at &c
in April following and Sc l-2c in Nav.
The whole world had then, as now.
good crop and spectators did not take
hold. We have no knowledge to pre-.
dict the result, but leave it for your
readers ts draw their own conclusions.
Yours truly.
SCHROEDER i LlNDB!.ox.
General Commission Merchants, No.
\ hmm bar Of