The Republican journal., 1877-12-06

Iutai l;H} nl3HlS | III. .26O3H1 l6.Ohl $50
New York. percentage of this cnor-
nous trade has been much larger than
that Of any other port. Baltimore has
received and exported considerable corn,
but its aggregate shipments of all cereals
is much less than those Of New York,
Notwithstanding all the loud talk that
the grain trade Of this port was to be iii
ycrtcd t. Baltimore, with the help Of
freight discrimination against New York.
Hi, unua attempt IL take away the
grain trade of New York is about as
ludlcrou~ rs the statement made every
year for the last - Years that BaIti-
more, by the means Of grand patent
double action subsidy steamship line to
Rio lie Janer0 is to take away our i'm
mrnse trade in Rio coffee.
As regards the present prices of grain
here compared with last year there is no
marked difference though they are rather
higher than then During the last few
days the market has been advancing, with
considerable transactions. NO. , Mil
waukee wheat sold ON the spot here yes
tcrdav at - 33l ana NO. spring, for
November, at Sl.3l!. Corn sold at 6}c
for NO. , on the spot These prices show
an advance of from ! to ) cents per
bushel since Saturday.
There have ut times since the opening
of the season this tall, been wide tIuctua-
ti0ns III prices. owing to "cornrrs" The
shorts OIL >eptemhcr wheat We're pretty
badly squeezed, but escaped much easier
than might have been expected, through
the almost unheard of magnanimty of
certain operators who loaned grain To
their brothers in distress. Since the
adoption Of calls on the produce eX-
change there has undoubtedly been more
speculation among our New York oper-
ators than formerly; but the west is stjIl
the scene of most OF the speculation, and
in Chicago, especially, the ''scalpers' are
as bold and reckless rs ever. 1t is Gus
tomaV to hear considerable talk about
the daring Of some Of our stock operators
of New York. but il may be doubted
whether the average stock spcculator has
half the backbone of the genuine Chicago
grain ''scalper." The 'sralpers" Of that
city are those who make 4 "turn" every
day by buying in the morning and often
got possession Of the whole stock Of wheat
III tultuSb NtNtldl NttlS ttSb etIiu Iltl'i IL
against the shorts, who being III the ma
.jority, made Il great noise, threatened to
eXpel him from the board and maligned
him in every possible way. Some Of the
shorts laid down on their contracts, but
others sort of half way faced the music,
so that the daring speculator reaped an
immense sum, notwithstanding all the
storm; and those who had "laid down.
or in other words refused to meet their
contracts, We're eventually compelled to
Ito 50. The Chicago board of trade has
adopted number of rules against corn
erS, but they are not altogether effective,
and it seems probable that there will al
ways be trouble about both settlements
and transfers. At our board the settling
price of corn and wheat is fixed at the
first call every day.
The exports of grain to Europe the
present season promise to be the largest
for many years. the trade with Great
Britain especially A writer in the Lon
don Times recently stated: "Our aver
age populations to be fed during the har-
vest year of lS77-7S may be taken at a
little over :8,750,O00 people; l0,0O0,00O
quarters is the outside quantity that will
be available for consumption, leaving 3d.
600, 900 quarters to be supplied from out
side sources" Mr.. II. Kains Jackson, a
well known English writer on agriculture,
says: Judged largely, the wheat ques-
ton of this year resolves itself into this:
All Europe as a consumer against Amer
lea, India, Egypt, Australia and possibly
Russia as sources Of supply The ship
ments during the present calendar year
are not likely to very materially exceed