The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-04-29
THE RISE IN BREADSTUFFS


COW THE RUsso-ruRKIsH WAR SENDS UP THE
rEIcE OF WHEAT, FLOUR AND coRN-soME
OPINIONS OF THE CAUSE or THE ADVANCE
ARE THE POSSIBILITIES DISCOUNTED?
Since the receipt hero of tho first news Of really
warke character speculation has been very busy with
,ur breads,uns in tho Produce Exchanges of all the
prominent cities Of The Union. Prices have
advanced very rapidly indeed, until at
present wheat is higher than 1t has ever
been before in New York. making allowance
Tor the excessively high price OF gold NJ one period
during the late civil The suddenness ana masni-
lude OF the present advance which OF course prl
nary duo TO the actual commencement OF bostlilies
abroad, DO readily understood when it is
known that advance would have been in order
without any abroad IRON It's actual scarcity
tins year. Such, at least, is the explanation
Of tho condition of the market given by merchants
md others interested the present movement OF
brcads,urs, and an inquiry into the statistics obtain
ubIe The subject results in justtiylng their con
rluslons.
SOME COMPARISONS.
II is found for instance that tho visible supply OF
wheat the ls OF April 1877, s. d4l. 1876 bushels
against 1921 l05 bushels a, the corresponding period
OF last year. and 10000 900 bushels the S,n
OF April, 1875. The deliveries ut The Western river
and lake ports also exhibit considerable
decrease These were, for The week ending April 4
bushels against COZ s35 bushels the correspond
ing week 1885, over 400 900 bushels the
ponding week OF 1875. The deliveries AT tho Atlantic
scaboard ports also present tho same contrast. they
were, Tor week. 800 bushels, against 51S, il5
bushels the period last year, and for the cor
responding period OF 1875, 623, loo bushels The ex.
port for the eight weeks previous were
only 0lS $50 bushels against 4067 23S bushels for the
corresponding eight weeks Of lsi6-a decrease OF con
han uul ms hols tpck In
store New York April I. inst, l. 80 9oi bushels
against 1898, O,4 bushels Tor the corresponding week
Of the previous year. The condition Of affairs midi
Gated by these comparisons had attracted the
attention OF spectators prior to inc recent
,crious consideratlon o. sne nrospcc. Q, ,,,v
lug fast and loose spectators were nteny watch
ing the sport and quietly advancing prices and AZ last
when II became apparent that var was Inevitable the
ADVANCE reached figures beyond even the most san
suinc expectations OF those who bargaiaed Tor rise
THE SPECULATIVE FEVER
Without waiting 10 pursue through their various
ramincaions, tho reasons. depending nn war; winch
would cause an advance. the spectators would
ieem 10 nave jumped AZ CONCLUSIONS sweep.
Ing enough 10 comprehend the rcmotcst
possibilities OF Several days ago the belief OF
conservative people in ana about the Produce hx-
charge that ut tho time of the issuance Oh the
Czlr's manifesto war effects we're very generally and
quito literally discounted lf you then asked them
whether the golden opportunity Was not at hand they
would have told you that Ia 'heir opinion, y
was in the past judging by tho way prices
had already Jumped, and that theneeorward
advances must depend upon the einbarrass-
nicuts arising the European markets a. one port
after another closed, aud supplies of grain were
held in check. But the more vcntrrcsono dealers
not TO be set at rest easily and 10 tho cost oil
the domestic consumer their expectations have con-
:inued 10 be realized Since The beginning OF the war
the wheat excitement has advanced to nearly double
what II the beginning OF March Flour, in a
uch shorter time which exhibits, as It were. refec-
lion OF the advance in wheat is higher by 81 10 SIS
per barrel. Common extra State HOUR which,
farly III March, dull at 50 50 So per barrel, was
quoted on Friday last IN the produce market IS %
sio9 OF sale at IS SIS 80, were then also held ut sl
s1l 50. For a time the higher prices resulted in some
in the supplies forwarded they also tended 10
curla in some measure the demand 10th IRON ship
pcrs ana home consumers. More recently, however,
the disposition to purchase has Increased as the var
news has become more positive.
Yesterdays SHIPMENTS
Yesterday Ave ocean steamers sailed for Europe all
heavily laden and IN large proportion with broad
stuhs at somewhat advanced rcgbis. The names and
destinations OF the vessels are as follows-Cty OF
Berlin, OF the Inman linc Tor Liverpool; Victoria, of
the Anchor line, Tor Glasgow; Elysia, OF the same
line Tor London; Baltic, oil the White Star line, Tor
Liverpool; and the Wcscr, OF the North German Lloyd
lnc for Bremen. A list OF their freight reflects the
present activity in produce, more particularly IN
brcadslnis.
Tho Baltic took out the following assorted cargo
2,,oo boxes bacon 1000 boxes cheese, 200 ueces
$1,000 bushels corn. 800 bales OF hops 400 barrels
oysters 800 barrels apples, 700 packages clocks, 100
tons fresh beet The CITY OF Berlin carried to Liver
pool the following cargo :-B,OO0 bushels wheat
$4,000 bushels corn, 1000 bales cotton, $50 boxes
bacon, 5000 boxes cheese 800 packages butter, 300
erccs beet loo erccs lard, 70 lard 10 fresh
meats The Victoria wen: out with the following
4l,400 bushels corn 5l2 bags oil cake, =, 300 boxes
$50 erces lard IS hogsheads alIow go terces
bee 900 barrels pork $50 boxes bacon 700 packages
butter, 100 fresh beet The Eiysia had cargo
265 900 bushels wheat $3.50 bushels corn. 800 Bugs
OIL cake. 313 boxes bacon lIo packages butter 800
crccs beef, $40 barrels pork. 800 packages lard, -
hosshcads tobacco The wcser carried 10 Bremen
IT, UC0 bushels gram 600 tcrces lard 20 barrels pork
20 rerces beet, 70 hogsncads tobacco, GAS ccroons
tobacco, 10 packages hand akes 80 packages mowers
so tons sundres THIS includes total Of 100000
pounds OF fresh bccI, 10000 bushels OF wheat and
alo 81, 900 bushels OF corn.
PROSPECTS coSsiuERED.
When news first came Of tho Russian advance into
kounania II became oil interest 10 the grtn trade 10
know what Roumania would do under the circum-
stances The exporta5le surplus OF Roumauia aver
ages L. 600 900 bushels oi wheat VIII she
man passiver and If she does wll her ports the
Danube be kept openy were the questions naturally
arising Yesterday tho corn market was affected very
lerceptiby by war ncws, which was to the effect that
the .Danubian ports had been declared closed. THIS
caused an excitement in maize the other side and
res ucd hero in an advance Of about three cents
bushel
Some profess to think that there is no conclusive
Teason for believing that Russas surplus OF gram viii
faii TO ind outlet present 1t may be restricted,
they saw, by operation OF the war; for army
SUMPTION and by the fact SHAT agricultural pursuits
VIII suffer from the Interruption incident 10 prolonged
hostility. THIS with other considerations, gives RISE
speculation rs to tho probable extent OF the dti
Guilty begun. IL Is estimated that about
one-hrd OF the Russian surplus OF wheat Tor European
consumption Is urnishcd from the Black sea- besides
The bulk OF her grain exports. For some years back
.he quantities OF wheat shipped from northern and
southern ports OF Russia compare as iollows;--
Southern Northern
Ports. iors
Ycor. CUTS. CptS
ACKNOWLEDGEMENTS. S,3l7,2g0 1,6sS,o35
1874. ACKNOWLEDGEMENTS. 5,0lb,O53 IOe,5I6
lsto..... t,tts,oo- loio,iot
lst.. 10 uJ,+s3 2Ooolio
lH,l.. ...................... !, .oZool o3ol,joJ
1870. s427.3l4 1884, SS4
Average SIX years. 7,Si4,6i4 2Oli, 637