The daily gazette., 1880-04-15


DECLINE IN GRAIN.-The monied
monopolists Of grain have done for the
farmers Of this country Just what the
monopolists of iron have done for the
mechanics and laborers. The results
being the same although the manner in
which the results were brought abou,
are very different.
The system OF buying up wheat and
corn and holding them to bull the mar
ket, In the great grain marts of the
West, has had the effect of turnino
away from our ports great numbers of
vessels whose owners desired cargoes for
foreign markets; but finding there was
no prospect OF securing wheat at rates
that would pay them, the market being
controlled by the spectators, sought
ports IN other parts of the world, and
as consequence our grain is left on our
hands, ami now cannot be sold at even
lower rates, with a prospect for a large
yield OF the new crops beginning TO
come in,befOretwo months are past. The
London Marx Lane Express saws. "tbe
supplies of English wheat are again
small both in London and the provinces
frlces declining shilling, millers' re
quirements being light, aud the wealhe.
favorable for the future crop. There
has been a marked decline in FOREIGN
wheat in London, caused by the specu.
latiVe combination ia America to dic-
tate prices to Western Europe. Rcd
Winter, which q fortnight ago was worth
57s- per quarter, sold with difficulty a,
IS. per quarter decline. Russian sor,s
have not declined quite so deeidedlv
bat the tendency in all cases has haan
adverse TO sellers. at the same Time the
decline stimulated the demand and
miiiers, in some cases, bought COMPARE
lively freely. The proximate cause OF
the collapse Of the ring was not so mncb
the aosteDtion from buying on this side.
as the favorable crop prospects in bo,b
England and America. The official es-
Innate OF the stock Of grain In London
Is larger than anticipated. namely.
2e7,oOO quarters against 209 900 at the
corresponding time last year. Compar
ed with the stock in granary at the be-
ginning Of the year, there is a decline
OF 21s,0O0 quarters. Maize, in conse-
quence Of large arrivals, receded .3s tn
As. from the recent highest point. Mix
ed American ex ship, is now 26s. Ar
rivals at ports of call have been mo1er-
ate Trade is very quiet for wheat at
Is. to is. 81. lower, with only moder.
ate demand ut the decline. 1t is notice
able, however, that the Continent has
taken considerable proportion of the
isee arrivals. Maize sold steadily but
weaker at the close. Wheat for shin.
ment was freely offered, but BUYERS con.
tinuing indispOsed to opera ate, it declined
FULLY Is. ID. Maize was 81. lower. The
sales OF English wheat last week were
Z,o44 quarters, at 4Ss. I'd. per quarter.
=
against 62,939 quarters, at Ais. per ouar.
ter, the previous year. The imports in.
70 the United Kingdom during the
week ending April were .o49 ,149 bur-
dred-weight of wheat and 144,O52 hum
dred weight of -four"
The speculative rise in iron sen, fifv
millions of dollars abroad for foreion
iron at high rates that might as we'll
have been furnished by our own fur
haces had their owners not been led inIo
demanding speculative rates by the iron
monopolists forming the ring that mt
prices up from SIT ton a year ago to
$40 last month, from which it in one
month receded to $50. The paper
monopoly ring is doing the same thing
they are doubling their money on their
stock and buying their material lower
than ever.
The misfortune of these THINGS 10
that they unsettle contracts, and inter
rupt the labor Of the country tre-