Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-08-10
COMMERCIAL.

Bran and Shorts Droppsd-Prospects oil
Wheat Prices-The Lake Markets Steady
on Wheat and Provtsions- Stock Market
Closes Strong at Highest rices of the
Day.
ST. PAUL, Aug. 10.
The week opens with sharp decline IN bran
and shorts to the rates which prevailed three
OF four weeks ago. Buyers are offering DC more
for choice lots of ginseng and go per pouho
more for rags. Shearlings and lamb skins are
also taken at improved figures. New onions
are selling from store at Sl@$l 70 per bushel
or IS. rs per barrel New potatoes are selling
flom store at Soc to 40o per bushel.
Wagon deliveries of new wheat are increasing
TO a considerable amount and several car loads
from the Southwest have bern delivered at ele-
vator A. The continued favorable crop report 8
have converted about all the people interested
to the belief that the wheat of this
season must be sold at pretty low
prices as compared with those which have pre-
vailed for several years past, the estimate here
being that MinnesO'a farmers will have to sell
on the basis of 7e@75c for No. 2, according TO
the locality. In this connection the following
from the New York Public may be inter-
esting:
Inc yield of wheat in this country is likely
to exceed 4S0, 0O0, 900 bushels. What are we
going to do with this vast quantity of wheat?
The question is one which cannot now be salts
fac.orily answered. To begin at home, the
visible supply" is now about l5O0,OOo bush
els smaller than it was at this time last year,
and the stock in the hands OF the farmers ID
undoubtedly smaller by many million bushels,
while the increased population will warrant a
belief that the domestic consumption for food
will be at least Z 900, 000 bushels larger than
ever before price remaining the same, and still
greater if, as seems probable, the price rules
much lower than it did in 1880. Some in
crease of acreage may also cause a larger con-
sumption for seed. After allowances
for all these differences, however
it appears not very probable that this country
can consume, or take to Seplenish stocks, NOR
than about S00.000,0O0 bushels against 27O,-
900 600 last year, leaving as n probable mini
mum for export about lS0,090,0O0 bushels.
This is about the quantity exported from the
crop of 1879, when the failure of crops in Eu.
rope was general and severe beyond all
precedent. Russian advices are very
voluminous, but not very clear or definite
They show that loss of yield, roughly esti
mated at 10 000, 600 bushels, has been sustained
in q portion of the districts from which reports
have been received, and that too, in COMPARE
son with what Ia called an average crop, from
which Russia usually has about $4,000, 0v0
bushels TO export. whether tuc iOss Will ptufe
80 large in all the districts as to leave the couu-
try little or nothing to export for tho coming
year is decidedly not certain, and the proba
bility is that Russia will still have from 90
Co., QUO to 81, QUO 600 bushels to spare for for
eign use. Low prices, it will be remembered,
do not increase consumption and diminish the
exportable surplus as much in that country a.
in most others. The present prospects as TO
yield in England and France certainly do not
promise as great demand for wheat to meet
deficiencies in these countries as has been seen
during the past year.
New York dispatch of last evening says:
"In dry goods the package trade continues fair
but buyers are operating sparingy as rule.
Cotton goods in steady demand and generally
unchanged in prices. Prints IN irregular de-
mand Ginehams and cotton dress goods do
ing we'll. Wooden goods sluggish; fannels in
moderate request. Foreign goods rather more
active"