, 1876-04-02

and iron were quiet ut recent r:taa Wool Is moving
out generally In small lots, and former prices are nd
hcred to- B1oom-corn Is rather quiet but Vishous
quotablo change Timothy seed vaa in good demand.
and firm under restricted offerings while other seoos
were quiet clover being easy, owing to larger sup
ply which caused bnyero to hold back. Tho receipts
OF hides continue moderate, and the mz-ket ia stesdy
under the usual demsnd from dealsrs. Hay was in
moderate local request and atesdy Eggs wara In bet
ter requeft snd frsner. Poultry advanced $3.50 per
b the offerings being very light In fact Inadequate
to meet the wants Of the hotels and other local buyers
who we're compelled to enter the market.
Lake freigats we're quiet There wss q very good
inquiry particularly for vsels to load corn but car-
riers and shippers failed to sgres rates. For corn
vessels 4c freely bid but agents held of for 4c,
and up to the close of the session no charters vera
known to hAve been mnde. The Kingston oharter
Friday evening was the Harvest Hous for 1hout 900
bu of coEn-
THE BAILEY QUESTION.
n the Editor Of The Chicago Tiasns:
CHICAGO, April Ion a ma-Ret HE Chicago, where
speculative trading At times Of tbs gains such pro
portions that the whole years crop of some kinda Ut
grain IL sold over and over again within months
time tho propensities Of the power Of money! not
wthstsndine the present rules prevent 3cozners,
are still now and than tempted to run up prices with
out regard to thu effect which the available sup
NV Of q crop year must necessarily produca upon
tho legitimate demand. Tho temptation to
run deal" on barley may be greater on
sccoun. Of the apparently low price Of No. Western rs
compared with prices paid by matsters and braw-
ers for tie better qualities Of Canadian barley, and On
account Of the greater difficulty to dstermno the 1e
gtimate valua Of barley for manufacturing OF con-
sunptvs purposes than OF other grains f. H. La"der.
Whitby, 0nt one OF tho most competent authorities
on tho barley trade Of Canada and the United states
in his circular Of Oct. 8, 1875, ater summing up the
- fp1
the safest and most prudent policy for legitimate buy
ers to ADOPT the principle Of calculating the effect
which the largest possible supply would be likely to
produce because the surplus Of the barley crop OF this
continent would be largely IN exceas Of the probable
requirements OF maltsters. Assuming - he argues
ISeries from New York Stats and cAnada Of
ea Of ssme ass s1snt nsn sai IN
crease In Northwestern States equal to the de-
aeieney II oe 1nana ksntnek' and ls,t -
about j, 900 GOO bu. Is there mailing market for
this immense increase7 On the one hand, It Is
summer very much curtai1ed the consumption Of beer
aud ae: that IN The next yeaF the ~ elections and
The Centennial Exhibition M III sts'ts the saIe Of
trade ii dull wzg5s sre lower, and the ability ct the
WORKING classes purchase bcer has boe1 greatly re
ETC. licensed to sell liquors has been reduced Is Per
cent; that masters and brewers have had very un-
FemuneTAfTe trade during l9st year. tnat tneTe Ii M
immense quantity OF old ale and beer unsold; that few
altsers willing lay In Is large stocks Of barley
n usual and that not few Of them are unable to do eo
Many Wesarn farmers, deceived by the higher prices
Of the two previous crops aud blind to the fact th1t
the failure Of tue fall barley In Ohio, Kentucky In
diana, and Missouri did not change tbs result Of
auperahundant aggregate supply. are alo" TO accept
a situation and thereby only aided selle1s Of CAM
dian barley who we're aware Of An erportable surplus
ss5:ss es s e L i hs su as
Sates Is obtaining much better prices than they Wuld
have Otherwise received. specuasors on tho "hull
side Of No. Chicago barley. who did not look back
mora than the last two years of CON-
paratiyely high prices, because the crops
tie market $18 down to about SOC PET bu. They
overlooked The fact that in April and May, 1870 and
1874 when money more plentiful and wages higher
than now No. Chicago barley Was on its merits at
Soc although Of better quany and the crop Of can.da
md New York State lighter than that Of 1875. The
consumptiyo demand for our No. has teen dragging
until about SOC per bu reached at tbs end Of Feb
ruary and, although receipts since that time we're
checked by the impasaabe condition Of this country
roads, the reduction Of the sock In store has, never
theless been alow. Still, number Of speculatoEs-
mainly home tAleut-again attempt bun movement"
1t this advanced stage Of the mating season. B.