New Ulm weekly review. [volume] (New Ulm, Minn.) 1878-1892, 1880-02-04
London Letter.
(Rsgulsr Correspondencs.)

London, England, Jan. 5th, 1880.
Consistent to the last in it's disas..
trous character, the old year passed
away amid wild weather, and a
succession of gales, which did much
mischief to property, and in one in
stance were attended by an appalling
sacrifice OF human life. Sad, indeed,
in many ways have been the lessons
this country has had to learn in 1879;
for VIII at with war, bad trade, and
worse harvests, few things, social or
agricultural, can be said to have
prospered; in sooth, it has been
very Pandora's box of evils, but,
like it, they are fain to believe in
having hope at the bottom. Certain.
ly the past year takes with it few re.
grets, and if the horizon does not
seem altogether cloudless at the
present moment, it is not unreason-
able to anticipate better times, as
repetition of the painful experiences
of the past twelve months can hard.
y be deemed probable. The start,
it must be allowed, in agricultural
affairs is in a rather backward state.
Frost set in early, very shortly after
the termination Of protracted har.
vest, and consequently much land in.
tended to be sown with wheat could
not be planted. This was especially
the case in the midlands and ten
districts, and a report, recently re.
ceived from these localities, affirms
that only about one.half of the in.
tended quantity of wheat has been
sown. AS, however, the frost has
now disappeared some, at any rate,
of this leeway, will he speedily made
up. No opinion can yet be hazard.
ed as to the effect of the past severe
weather upon the growing wheat in
this country, as the plant is only Just
beginning to appear above the sur.
face; but it may be remarked that in
France increased apprehensions are
felt on this point. Roots have been
much injured by frost, and it will
be a difficult and expensive matter
for stockowners to tide over the
winter, as the scanty store of fiddler
is rapidly diminishing. The damp
weather at the beginning of the
week has rather deteriorated the
condition of fresh y.thrashed grain
but the quantity offered for sale at
Mark Lane has been very small, and
prices have not unders one any quot
able reduction. Last Mondays list
of arrivals into London showed only
about 10000 qrs. of foreign wheat,
but the imports have materially in.
creased since then last Fridays re-
turn giving 68,340 qrs. Although
not altogether untrammelled by hol.
iday influences, the trade has been
affected but slightly by them during
the past week, and the full rates Of
last Monday have been obtainable.
Supply is for the moment, no.doubt,
in excess Of demand, and stocks are
increasing. Holders, at the same
time do not seem inclined to press
sales; indeed, there appears to be a
general inclination to pause until
the situation in Americ has further
developed, all eyes eagerly watching
for the success or collapse of the
great speculative enterprise aAoat
there. Nothing new can be record.
ed with regard to this movement,
stocks being strongly held by large
capitalists and able financiers, and
prices ruling several shlllings per
quarter above London levels. Ac.
cording to the latest postal and tele
graphic advices, the attitude of Am.
erica is confident and even defent.
What the result will be time will
show, but | cannot help considering
the undertaking extremely hazard
GUS, having regard to the fact that
the price of wheat in this country is
by no means unduly low. With an
adnormally depressed level Of value
such as existed during the first half
OF the past year, speculative manipu.
lations such as those in question
could hardly fail of success; but hav.
ing q rise of los to lbs per ar, the
possibility of a f'corner'' is material.
IL diminished