Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1875-10-11
THE NORTH. WESTERLY Crops.

- correspondent Of the New York Times, writ
inc from Milwaukee Sept. 30th, says the fail season
has undergone a slight change during the latter
half Of last month During the latter portion Of
.Jn,v. and the entire month of August following.
prospects were unusually latterng, the grain crop
| of the North west promising more than average
Weld, while prices of wheat were comparatively
nigh owing 10 low freights and the partial failure
of European harvests, and the purchasing power
of the agricultural region was supposed TO be good
for Usually large supplies Of merchandise. But
the unfavorable weather which prevailed during
the latter portion Of August delayed the harvest
in Iowa and Minnesota and subsequently caused
considerable damage to the wheat crop IN those
States, many farmers having neglected to proper
y stack their produce, preferlng IN order to save
expense, to run the risk until the arrival OF the
thrashiug machine. The result was what might
have been expected--a large portion OF the wheat
is damp, and what would otherwise pass inspection
as "No :" goes "condemped,' does not go into
the elevators, and nets the owner loss OF ABOUT
fifty cents per bushe. SO great has been the rush
of this damaged wheat, farmers generally market
inc their inferior produce before the better grades,
that the St. Paul Railway Company finds It difficult
to provide sufficient rolling stock Tor tue gram
seeking a market at Milwaukee, and about hve
hundred car loads of damp wheat are on side
tracks To remove the difficulty partially, the rail
way company has notified shippers that hereafter
no more wheat fit to go into the elevators Will be
side tracked. In Minnesota farmers have been
more fortunate, and an unusually large wheat crop
has been secured in good order, the greater por-
ton of receipts inspecting "No. l. )"
This damage to the wheat crop has had de-
pressing effect on trade, as was to be expected
Collections in the interior have been light and un-
satisfactory, while the demand for merchandise
was much lighter than had been anticipated, par
ticuary after the recent decline of ten to fifteen
cents per bushel in wheat, Liverpool having de-
clined TO about the same range Of values current
during the corresponding time last year, when our
markets ruled fifteen to twenty cents lower than
during the present season. This week, however,
there are indications Of q general improvement.
Prices of wheat have rallied five to ten cents per
bushel from the low range week or two ago, re
ceipts have improved again and promise to con-
time liberal long as present values continue TO
prevail country orders for currency being quite
large, while the supply among the banks has been
materially diminished, and New l. DIRK exchange
has declined to seventy five cents per $l,000 dis
count, or about the figure at which currency can
be brought here by express. During the past ten
DAYS trade generally has revived under the in
fuences noted, the demand for merchandise has
increased again, and at present writing business
in the mercantile department is better than at the
corresponding period last year, while country col
lections ale much better. The grain trade Is un-
prevailed, short sellers have found it difficult to fill
their contracts for September delivery, receipts
having been lighter than had been anticipated.
No. 2 wheat. No. oats and No. barley, sold for
September have netted the sellers material loss
the greater portion of which falls on spectators
in the country who have been more or less fortu-
nate during the latter part of the Summ,r and who
I can afford to pocket loss now.
| 1t must be remembered that the crop movement
this year commenced fully one week later than last
year, while the unfavorable weather has delayed
| The eastward movement more than usually. The
| barley crop is unusually heavy, but rain and dew
have discolored the berry to such an extent that
| the percentage of mo. 2" arriving in market is
very light, and that grade sells 80 cents to so cents
above mo. g." which is in large supply. The de-
mand from shippers and brewers is fair. and there
| is very little accumulation in store. The market
was largely oyersold at 81 o5 to $l.lj for No. 2
| for September delivery, and at the close of the
month the market is "cornered," and short seller:
pay 81 20 to $l.26 TO fill contracts. The houl
trade is unusually light for this season Of the year
The stock of old was exhausted during the sum
mer months, and millers have not as yet ground
much new wheat, owing to the danger of It's being
! damp and making unsound flour. The favorable
weather, however, of the past two weeks has slim
ulated business in that line. and Western millers
will soon be again able TO supply all wants. New
Spring wheat 1our is selling at 525 to sc. % for
tair to choice extras, and ~ to 50 for new patent
| process. 1H-