New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-08-16
SALES FROM 2 O'CLOCK p. NJ To CLOSE OF Bus
MSS. 3 O'CLOCK Z. NJ.
SATURDAY, Aug. Ia. NJ.


In commercial circles the week ending to-day has
been dull and featureless outside OF the grain specu
lation. which, after an excited and higher market
early in the week, finally closes with decline in
wheat from the price of last Saturday OF
ga SC. per bushcl at Chicago and New
York respectively, with falling on
both IN receipts and shipments at the principal
Lake ports from the business of the previous two
weeks. 1t may be remembered that early III the
progress of this speculative movement The TRIBUNE
suggested that the probable effect of speculation
which should carry the prices of grain above
the point at which they would naturally
be maintained would be that with
decline in prices which must follow, the receipts
would fall off that the farmers would become spec
ulators and hold Oh to their wheat i'll the hope OF
finally realizing the higher prices. But as cheap
TRANSPORTATION to market is an important element
in sustaining the prices Of the products of the soil,
tbe intelligent farmer ought to see that in the ordi-
nary course of events ho has nothing to gam but on
the contrary takes the risk of loss, by with
holding hts grain from market at time when
if may be transported from Chicago to this city for
about 10 cents per bushel by lake and canal, and
selling it after the close of navigation when 1t VIII
cost at least double that price to send it to market
by rail- The rates Of freight by the lake propellers
from Tn;cnro and Milwaukee to Buffalo, which by
the active movement caused by the first rapid
rise in prices had been advanced 10
ola and 33s cents per bushel OF wheat
and corn respectively, have been again reduced to
2lo and 2l cents per bushel lower prices than ever
before prevailed. This is an indication that the
wild speculation in wheat has exhaustedits strength
and the farmer ought to that when his gram Is
ready for market when he can obtain fair prices Tor
il. and when it can be sent to ITS ultimate
destination at the lowest possible cost, that
that is good time to sell IL.
There is nothing striking in the general trade OF
the city outside of tho speculative movements IN
breatlstufs and provisions, which have aDated mate
rally under more complete information concerning
the effect Of the late storms and Hoods which gives
reason TO anticipate good crops. Wmie dry goous
merchants keep up their courage very well
"a IN the prospects of the Fall trade, the
business of the week in this line has been
s,im. The Financial Chronicle remarks that the
most notable feature of the Fall trade so far as ac-
compshed. is seen in the extremely small quantities
of goods which are selected by individual buyers,
MANY of whom are not purchasing one-haf OF their
usual amounts This shows caution, and the JoD-
bers who sell may find some consolation
IN IN. belief that this class of purchasers
NJ least intend to pay for what they buy. In u 3.
bonds there has been q moderate business OF the
Board at about the prices prevailing last week.
Southern State bonds have been rather quiet with q
slight improvement in the issues OF Tennessee ana
Virginia Railway mortgages of the better class nave
been in good request at firm prices. There seems
to be growing disposition on the part OF
investors to look for safety rather than high rate OF
interest or great profit in the purchase OF securities
Money continues in great abundance az li9 10 "a
Der cent on CALL and 49 to 5i2 on first class CONNER
cal naper. Foreign Exchange was strong and
higher during the earlier part of the week, but
weakened at the close On the anticipation OF large
exports of gold, thst article OF merchandise
advanced from 1888 at the opening on Monday, 70
114l4 but subsequently dropped to 1923 and finally
closed to-day at 1898. showing an advance from
last Saturday Of y per cent.
The stock speculation has been Irregular on very