The Grange advance. [volume] (Red Wing, Minn.) 1873-1877, 1876-05-10
Financial and Commercial.

Money is reported easy in New York
and quoted at 3@4 per cent. Gold is
held at $l.1256@l.l224. Government
bonds are in good demand and rates
have advanced On nearly all descrip-
tions from q to ~ cents. The move
ments in the stock market ind icate that
money is seeking investments in good
securities. In this city, money is excess
sively tight and loans cannot be effected,
Except on farm property only for
short time and on No. securities.
Tie indications are still unfavorable
for an early advance in the price Of
wheat, and those Of our citizens who
have invested in options in Milwaukee
market wish that they had not done 10.
The chances are that they will gain
knowledge by experience, but at a con-
siderable pecuniary loss. The latest
news from England by telegraph was
"wheat dull and prices lower and the
movement forward since navigation open
ed of the large body of grain accumulat-
ed in store in interior markets during
the winter, would naturally produce this
result. If it is true, as Eastern buyers
believe, that the farmers of the West
still hold a large proportion Of their
crop, the chances certainly are that
there vii; be no material advance. We
are inclined to believe, however, that
the farmers are not holding nearly so
much wheat as is supposed.
A report which, also, tends to depress
prices is that a large supply of wheat is
likely to be obtained from Hindostan, at
rates considerably lower than European
and American grain can be afforded.
It is claimed that considerable quanti-
ties of this wheat has already been sold
in Liverpool, and that larger shipments
are about being made from Calcutta.
There is probably no reason why excel
lent wheat might not be grown in south
ern Asia, but inasmuch as it las not
been hitherto, to an extent that would
afford a surplus 70. expectation, we are
disposed to think that a laundering tele-
graphic operator has said "wheat''
when he intended to say 'cotton.''
On Monday the quotations in the sew
raj principal markets were as follows:
New York $l.l5 @l.2l
Chicago 81 0 .9816
Milwaukee $l.Ol 16@)l. O3 Is
In this market the quotations remain
the same as last week, to-wit: 85c for
No. 2 and 90c for No. l. The receipts
are still light, and much of the wheat
hauled goes into store. There is good
milling demand here and in Minneapo-
lis, and this keeps up the price. This
mornings reports from Milwaukee show
a slight improvement.
For Corn and Oats prices continue
unchanged. We still quote the former
at 100000. and the latter at 40@55c.
We still quote flour for the local trade
at $2.75@3.00 per l001bs. Corn Meal
at wholesale $3.50, and retail $3.50.
Ground Feed at $l.25@1.35.
Beef Cattle are in demand only to
the extent of butchers supply for home
trade and We still quote at &c. per III.
live weight. Dressed Pork 7c.
Mess Pork is $24@25 per Dbl, l5c.
per 1b. Bacon-Hams l5@l6c.whole-
sale, and l6@l8c. retail; shoulders
l215@l5c. Sides l5c.
Butter, packed 15@l8c, fresh 20@-
Csc. Eggs l0c.
Potatoes 25@35c; Onions $4,000;
Beans, hand picked $500 per bushel.
Groceries generally are steady at pri-
ces which have ruled for the past
month, but dry goods are decidedly
cheaper.