Yankton daily press and Dakotaian. (Yankton, Dakota Territory [S.D.]) 1875-1875, 1875-08-25

THE OPINION OF "A GRAIN BUYER.
; To the Editors Of tie DAILY P,.ess and Da.
kotdidn.: -, - /
SlRs:-Supposing that you desire TO give
correct information to your readers 1 have
been surprised at many of your publications
from time to time concerning the crops of
this territory and Of the United States. In
your issue few days ago YOU quote from
Walkers New York circular to the effect
that the United States would not raise
more wheat this year than will be needed
for home consumption. This must be a
mistake as Walkers circular is one Of the
most reliable in the world and cannot
conceive how it is possible lie could have
fallen into such an error. Please give the
date to the public of such circular Then
allow me to call your attention to the fact
that some weeks ago when your farmers
could have contracted their wheat at 9Oc
you advised themSppt3tD do 90. Now they
cannot get over Is "a 30 cents, which
proves the fallacy Of your advice
The markets for wheat must and will be
regulated by the foreign demand. Liver.
pool and London regulate New York and
that market regulates Chicago and Mil
wankee and those markets regulate these.
Taking Soc as present price here add 4
cents for cleaning and loss of weight 8
cents.freight to Sioux .Cny,24 from thence
10 Chicago or Milwaukee, cent commits.
sion, these make.118 cents and you could
buy wheat in Chicago yesterday at 1144
foTseptcmber. So you see that your buy.
lcfs here cannot afford TO pay over IS cents
TO make any profit on their business. lam
aware you quote from some agent Of a Mil
waukce house that most Of the wheat raised
in this territory viii; grade No. 1 1lllwau.
kec hard. The Nman who made
the statement either willfully per.
vcrtcd facts or else was like
some ether of your writers on nsthis subject,
viz: totally ignorant Of what they y>arc wri
ting about l saw wheat in Bramble s.
Miners mill yesterday that would notSip.
spect Chicago No. 3--and the average OF
the wheat taken in from farmers
to date would not average better than
Chicago Noe. sIsit not better to deal in
square facts as Journalists than in these
fictitious representations, We would all
be glad to see these farmers get 81 per
bushel Tor their wheat, but no one here can
make the foreign markets to suit them.
supply and demand always has and
always will regulate prices, and not the
reckless writings of newspapers or their
correspondents. Your daily quotations Of
markets are misleading ;.for instance, yes
,erday and day before you quote wheat as
selling here at S5 eeHts is not eeF
rect quotation Of the market during those
--two days.-A merchant was here from the
country ye estcrday, bitterly complaining Of
these quotations, for the reason, as he said
the farmers read these quotations and cx.
pected corresponding prices in the country,
which they were not able to pay without
loss. Icannot but look upon the natural
influence Of your paper as disastrous to
both the farmers and Of trade 10 general iu
your tsrlitoty; aud Il sesms to me th.t pec.
pie will soon se.l tired of acting upon your
adyiee.aaI- not. say wheat may not GO
higher toward tue close of the year.
think in New York it will, but doubt il
wheat should advance in New York IL
cents per bushel at the close Of the year, it
would correspondinglv advance here
Because. after lake navigation closes, sis
weeks hence, freight will advance from
here to the seaboard as much as the whea
advances in New York. II seems to me
whilst we have these unprecedented low
frcights from, Chicago to New York.. The
farmers should avail themselves OF them !
they know their interest. l think. there
tore. in conclusion you should 50 far change
your tactics as journalists as to give solic
reliable facts aud opinions based upor
them, and thereby do justice TO the farmers
and wheat buyers and al parties interested
in the success Of your territorial interests
Yours truly,
w. d. BARBER.
ST.. CHARLES HOTEL, Aug 25, rs.
E