The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-07-27
THE GRAIN MOVEMENT.

GENERAL DECLINE IN vALUEs-rHE FoREIds
DEMAND DmINIsHING-HEAvY FALL IN
FLOUR.
The great feature in the grain market yester.
day was the sudden decline in prices, which was
Brought about by the receipt or cables from
Europe reporting favorable weather. The market
reports too from London, as well az from tue
principal Continental centres OF commerce,
showed q considerable ialling or in prices
the markets both here and In Chicago, which TO
some extent are governed by the reports from
the London market, az once became affected, and
there was a general desire on the part OF holders
to sell and realize profits before further de-
cline should occur In order however, TO make
sales reduction OF fully five cents per bushel on
wheat and three cents per bushel on corn had TO
be submitted to. Even at these rates buyers were
chary OF entering into contracts for large parcels.
In lact they contented themselves with purchas-
ing IN just sufficient quantities to satisfy their inn
mediate demand or TO I'LL orders. Tue business
done yesterday was consequently OF a very limited
character and no one could be found bold enough
to buy for forward delivery. Sellers largely pre-.
ponderated and where a buyer showed up he was
literally besIeged by those who wished TO close
out their operations OF last week. The large
holders and SPECTATORS however, are
STILL HOLDING OUT
on the idea that the first report OF unfavoraDle
weather on the other side will again send
pr ces "kiuog," and That they VIII then
be able 60 realize higher rates. The
more prudent and cautious operators are
quietly endeavorlng to dispose oil their stock pre-
Ierriug rather to maze sure of present profts--n
they can-than TO run the possible risk OF loss
In fact, 1t cannot be discussed tnat the New York
market Yesterday was TO some extent democrat
ized and 1t becomes question whether the late
advance obtained was warranted by existing cir
cumstances, or whether 1t was not brought about
NV 4 hn a
the natural consequences OF legitimate demand
based on reasonable and PROBABLE calculations OF
the wants that would arise, and would nave TO be
supplied, ii conditions existed as were reported.
IL now begins 10 look as though the reports Of the
damage done TO the crops in Europe had been
greatly exaggerated, although IL cannot he
doubted that there VIII DC q considerable falling
OIL IN the amount OF grain marketed. From tue
vlces that are now daily coming to hand there
is every reason TO believe that
LARGE CROPS OF WHEAT,
which were. on the first blush, thought to be en-
tlrely and utterly lost may be partially saved II
the present favorable weather continues Then,
again, tue reports that are being received here
from the Western States, sucn as Illinois, Min
nesota ans Wisconsin. tend 90 show that the
crops will be larger ana OF inner quality than has
peen known for years. The California crop
although reported TO be considerably less than in
former years, VIII stl be large. Therefore, every
thing being taken into consideration. 10
now appears 10 be the general opinion
that :he highest rates have been reached
and that unless some extraordinary c0mplica-
lions ensue there Will. Tor some time, be no rise
on existing prices, but rather a decline. Those
were yesterday anything but hopeful, ana
would gladly nave realized on their stocks nad 1t
been possible. The market generally presented
different aspect 20 wDat IL bore last week. There
was more oil the bustie and excitement when
then prevailed. The faces OF the hd0itu6s also
presented marked difference. Then they all
wore "a joyous and hopeful expression, while yes
terday they were correspondngly gloomy. fnere
was none OF the rush TO seize on desirable par
cells, but rather a desire on every hand TO
QUIETLY UNLOAD
and let some one else bear the burden. The possi-
billty, as indicated by private dispatches, which
hourly came TO hand from London oil strong
tendency toward further tall In that market,
also exercised displrting influence, and when
the gong sounded for the Exchange TO close there
was a general sigh OF reilei. aud everybody left
the building in the hope that to-day the advices
IRON abroad would be more favorable to their in
terest.
The most serious decline yesterday was In rour,
with probability OF . further fall. The quota
tions, although nomlnay rom fifteen TO twenty
five cents lower, eau be fully put down at the
lat er figure. In TACT there scarcely any bust
ness done OF any moment Buyers were exceed
Ingly scarce, while there were any quantity OF
sellers, who, If they effected sales, had to suomit
TO fully lowering In price OF twenty-five cents.
Even at this decline business was dull IN the
treme
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