Knoxville Whig and chronicle. [volume] (Knoxville, Tenn.) 1875-1882, 1875-07-28
THE GRAIN TRADE.
Cheering Prospects for the Coming
season,
From the New York Times.

the previous year. The unfavorabl,
weather in England and France
which has prevented to a great eXten
the ripeuiug of the crops, and which
has deteriorated their value, together
with the deficient crops in Hungary
have caused considerable activity IL
the English and Continental markets
a great part of which, however, has
been of a speculative character The
advance was promptly responded to at
this side, and still shows no signs OF
abatiug, yesterdays figures showing
an Improvement over saturdays quo
/ tatiOus of from three to five cents a
/ bushel. The flow of grain 70 the sea-
board has, indeed, for the past ten day :
/ been such as to cheer the hearts of the
holders, and to give them reasonable
hopes OF continuous demand at
Temuuera,ive prices, but the flow, large
as it has been, would have been much
heavier were II not for the action of
the speculatUfs in our own markets,
especially at Chicago and Milwaukee
These speculative dealings have tend
ed, and If persevered in, will tend 10
check seriously the natural flow of
grain from thelnteTior to the seabuard
and thus impede what should rather
be facilitated-the free expectation 81
our produce. In business circles gen
orally, the activity in the grain mar
het Is looked upon as an indicative OF
Increased prosperity ia other depart
ments Of mercantile pursuits. A large
export demand for grain means in.
creased wealth TO the West, increased
profits for our railroads and canals,
increased freights for our ships, in
creased work for thousands OF hands,
and a fall in the premium for gold.
With increased wealth IN the West,
farmers Will have more money TO
spend, and large portion of it is sure
to finu Its way TO Eastern markets and
be distributed among our merchants
and traders.
The advice from all sections of the
country regarding harvesting results
thus far, aud crop prospects, are very
favorable as whole, and promise 10
give US an abundant surplus to meet
any anticipated calls for supplies from
Europe. Though the season all over
the West is backward, the crops for the
most part are looking well. Wheat,
oats, and barley look promising, the
latter especially so, while hay, potatoes
and other root crops are doing well.
CONDITION OF THE ENGLISH MARKETS
AS regards the condition of the En-
glish markets, the latest printed mail
advices from the Mark Lane Express
of the 9Th instant are as follows:
The weather of the past week has
been very changeable, commencing
with rain, and then fine, while on
Wednesday night and Thursday there
were violent rains, calculated greatly
10 hinder the hay harvest, which had
generally commenced and we fear not
Il little will be damaged in condition
and quality. 1t has been too wet also
for the wheat coming into ear and
bloom, as period of calm is much
now to be desired, and as we are APP
preaching the period when heavy
rains are common, it looks rather
threatening for the future; growers,
too, it seems, have thought so, as, in
spite of the resistance of millars, many
places have established a future adj
vance of Is, and some have put I'D
prices -. per quarter; and this steady
logged way OF advancing is perhaps
the best, as the gain is more likely TO
be permanent. Indeed, with the ca
lamitous floods in France the improve
ment seems very small, and the French
markets have been less affected than
might have been expected, for Paris
only notes a rise in flour of /. per
sack, and l.. per quarter in wheat, and
few of the provincial markets exceed
this rise; but Bordeaux has improved
Is. Cd. per quarter, and a very large
business has been done at Marseilles
on full terms, while Southern Russia
tells US that the recent rains have
come too late to recover the position of
the crops, which everywhere have suf-
fered heavily from the long drought.
New York confirms her last report of
poor prospects by an advance of Is. on
wheat, and Germany, with good pros
poets almost everywhere, is slightly
dearer; SO that any further calamities
in this most cventful year would
speedily change our present tariff and
benefit growers. That the lest harvest
has held out well is seen in the last
weekly sales, which were nearly dou-
BILE that of 1874, as those deliveries also
show that farmers are easily satisfied
by improved markets. and are not of
that selfish race who withhold the
cora till the people curse them" In
bcIBluil duu hOllhuu IneTe mas been
little change, nor has there been any
to notice in Northern Russia and Hun
gary.
On the same general subject the
Herald says:
The strong upward movement in the
grain trade which has been going on
for the last ten or twelve days gives an
unwonted impulse to business in what
is always the dullest season of the
year, and is fitted to raise hopes that
we may soon see the end of a long
season of stagnatiOn. With an album
dant grain crop and heavy and un-
expected foreign demand we may look
for quite revival of general business
at the beginning of autumn. Our
cereal products are the main pillar of
our trade, that branch of industry be-
ing the foundation of prosperity for
nearly all the others. Railroad stocks
are already improving under the GER
talnty of large fall business, and this
tends 10 revival of the iron industry,
OF which the railroads are the CHIEF
customers. General trade will be
nnip EgnlH and I..,,....