Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-07-22
THE WHEAT MARKET.
what our Exchanges say about the
Probable Price.


From the Athens Post.l
The wheat market remains unset
tied, with prices below what the far
mers propose to sell at. We have no
opinion ofour own as to the probability
OF an early and satisfactory advance,
but give such information as has
reached us from below, with the re.
mark that it is from a source entitled
to the fullest credit.
The following is from an Atlanta
letter dated the 10th:
The prospect for living prices for
wheat improves. 1t is now generally
acknowledged that an over-estimate
has been placed on the yield of the
Georgia and Tennessee wheat crop.
Our wheat crop is light, and yours is
not as heavy as first report Our mil.
lers here are disposed to yield little
on wheat, but still try to depress prices
in this market, so that they may be
thus enabled to buy your wheat in
Tennessee at low figures. For the
benefit of your people we will say that
in this marked to-day choice white
wheat would command 81 As per
busbel, and that IL your peo-
pie will hold their wheat
they will get full prices between now
aud September LIST. Our plan, which
would enable them to checkmate the
millers, would be to refuse to sell ex-
cept at full prices. Failing to get that,
they could ship their wheat to South
ern commission merchants, obtain ads
vances on same, and thus force the
millers to pay reasonable prices. Your
wheat is worth Sl.15 to Sl.25 for white,
Sl.l0 to Sl.20 for red and amber, at your
place, and your people should not take
less. They can IL they desire ship their
wheat, get advances on same-say Sl.O0
per bushel-and realize in addition a
handsome profit on same when sold.
The Georgia millers, having entered
into an arrangement, will not compete
with each other an your section. They
say that there is wheat enough for all
of them, that it is unwise to raise
prices on each other, and the better to
carry out that plan they try to depress
prices here to prevent shipments to
this market. But to-day they would
pay here for few loads each 81 40 to
81. As for choice white, to keep them
running until they can get cheap
wheat from East Tennessee,
A subsequent letter from the same
SOulNC
We find that western wheat can not
be brought here as low as we expected,
and the tendency is to higher prices,
Your wheat growers and dealers would
de better to ship their wheat to this
market, draw against it for So cents to
81 90 per bushel, if they need advances,
and hold here for say Sl.30 to S1.35 for
good to choice amber, and Sl,40 to
81 As for choice white. As before eX-
pressed, we do not think it to be to the
interest of millers to put prices down
to a point where it will not pay the
producer.
There is nothing doing in wheat at
this place, the farmers generally being
unwilling to sell at less than Sl.25.
CHARLESTON DEPOT.
The following note from the depot
agent at Charleston on the Hiwassee, is
in reply to an inquiry from this office I:
CHARLESTON, July 10, 1874.
There had been shipped from this
place three car loads of wheat at Sl.25
per bushel, and IL car loads mt Sl.10, up
to the 18th inst. There was bought last
week, for delivery this week, Is addi-
tional car loads at Sl.1O. Total number
of car loads bought, p. One dollar per
bushel is the price now offered, but no
sales have occurred at that figure.
Yours, &c,