Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-07-29

York Tribune says: In our last re-
view we characterized the market as
the most active in the history of the
trade, but the week now under review
has been far more active, the excite
ment far more intense, the aggregate
sales very much larger, and the adj
vance much more rapid. This great
advance IN spring wheat is due chiefly
to the character Of the advices from
Great Britain, which from day to day
have been intensely exciting and very
important. The British Islands have
been visited by the most devastating
and destructive foods ever known; in
deed there is no comparison with them
in the history of that country. The
area visited by the floods Is the most
highly cultivated and the richest agri-
cultural country in the world; hence
we cannot now form any idea of the
extent of the damage done, but upon
this the future value of wheat largely
depends. These deplOrable foods
have caused almost a suspen-
sion of all outdoor business there, and
prudent business men have preferred to
wait until the storm was over to know
how to act intelhgently, but some time
must elapse before they can get even
ar approximate idea of the extent Of
the damage done. Much of the wheat
so long under water is, of course,
worthless, but the growth of much of
that that escaped the food has been
greatly retarded; the crop is backward
and there is much apprehension for the
future. The rains at the West still
continue, and in Ohio and Indiana the
injury to the crop has been serious, and
for four weeks past there has been lit
tie cessation of rain. The few inte--
walls of sunshine have not been of suf-
fcient duration to enable farmers to
dry their wheat properly, and much Of
it has been injured by rust and in the
stack, more especially in the southern
and central parts Of those States. AT
the North, rust is greatly complained
of, and the harvest has been greatly
delayed. 1t is now very evident we
shall have a large supply of poor wheat,
where we had counted on a good arti-
Gle. The yield to the acre We haze
long since reported greatly below an
average. From Kentucky and Ten
nessee we have reports to-day
of great injury to the wheat
in the stack. Thus far the
accounts from the Northwest
have been favorable, though some
apprehension is expressed in conse-
quence of the late heavy rains. The
present prospect is highly favorable.
The promise now is of a yield consid-
erably larger than in 1878. The ag-
gregate sales of the week are much
lower than the previous week, but the
major part Of the business has been of
a speculative character. The wheat on
the canal has been sold and resold
repeatedly, and most legitimate orders
could not be filed. Unlimited orders
from Liverpool and the Continent were
promptly filed, but few such orders
have come to hand. The intelligence
from the Continent is variable. In
some localities the crops are about an
average, but generally the reports are
unfavorable; in France, Hungary and
Austria, Switzerland, and a portion of
Germany and Belgium, their crop has
been greatly injured by droutb, frost,
floods, and later by the premature
ripening of the plaintiffs more
especially true of Hunga-
~, Austria, and Southern Rus
sia-and the indications now are that
the crop on the continent Will prove
considerably below an average. From
the Pacific Coast we learn the move
ment of wheat is very light; the farmers
IN California are not disposed to sell
their wheat, and nothing was shipped
last week. In Oregon it is too early
for any movement. From Australia
the advices are not so favorable. From
Victoria, where it was supposed they
had a considerable surplus, later re-
ports indicate a deficiency. Our
position we regard as a very
important and Interesting one.
Should our spring crop result favor
ably, we could then count on an active
trade at satisfactory prices. The
whe.t now on the canal is about $780,
600 bushels, and on the lakes and rails, |
1880 bushels; the most of it has |
been sold several times, and is now
held for further advance. The ex-
ports of the week are l, 09l, 2SS bushels, !
against sos, 1897 bushels the correspond |
ing week last year; the exports from
the coast and Gulf are 1,2O9,124 |
bushels, including 3O,3I8 from New
Orleans.
SOMETHING ROBUST ABOUT IT.
In reproducing from the UNION AND
AMERICANA recent article on the profit |
that might be realized in Tennessee by |
raising early fruits and vegetables for
the Northern markets, the KHOsUilLe /
Age says: "Such articles as the above
will do more TO build up our country
and to make it prosperous and happy
than all the long-winded political arti-
cles that can be piled up in a genera
tion. Wemust stimulate the industrial
to utilize and to subordinate
the advantages within their reach.
Every State in the Union has its own
peculiar resources, and the duty in
7olved is simple-utilize them. That
is it. Do that, and every one of them
nil y,,orab steadily on IN marked prnS- |