New-York tribune., 1880-06-14
CEOp REPORTS AND PRICES.

lulOtS.
CROP REPORTS AND PRICES.
All the markets experienced considerable
advance in prices last week, which, closely
cOincidlng in time with the decision of the
Chicago Convention, was not unnaturally at
tributcd in part at least, to satisfaction with
the result of that Convention, and the conse-
duent political prospects. A sharp rise in the
stock market eliminated on Thursday, and
was followed on Friday and Saturday
by considerable sales to realize; buoy
ant wheat market cally in the week was
stimulated by large export demands; corn was
also buoyant in the early part Of the
week, and cotton advanced TO - cents for
middling uplands. A firmcr feeling is noticed
i'm iron, notwithstanding recent failures here
and abroad, though the presence of 10000
tons of foreign iron in this makct, as officially
asccrtained, tends to cheek an Immediate ad-
vance in prices But it is announced that Scy-
eral anthracite furnaces will soon go ont of
blast, so that the production will be cnrtalcd.
In petrOlcum there has been no change in
price, but a large export movement. The cX-
ports of cotton last week were 1888 bales,
against only / ! ,269 for the corresponding week
last wear, but the receipts mt the ports exceed
those of last year to date by $4,000 bales aud
the prospects of the growing crops arc almost
everywhere extremely favorable.
Toward the close of the week there was
some reaction in the grain market, perhaps
because crop reports both here aud i'll Europe
were considered indicative Of n largo yield.
1t is true that the latest advIccs do not show
that there has been serious injury to the
Winter wheat crop at the West, except in
some parts of Illinois and Kansas, where rust
or chess has appeared. In Madison, one Of
the larger whcat-grOwing counties in Illinois,
| the armY-wOrm is dong mischief. But the
rcpOrts are generally very favorable; IN
Southern Illinois and Missouri the harvesting
of Winter wheat has commenced; and the
recurrence Of frequent rains in the SPRING
wheat regions has given no reason as yet to
believe that the yield will not be large. Per-
haps the best proof that the crop prospects
are excellent ia the enormous shipment of
grain from the West. Over 100000 lush
els Of wheat and 100000 bushels of all
grain were shipped from the eight principal
Western ports during the week ending June ..
Large as 1t is, however, this movement does
not equal the exports from the seven prnci-
raj Atlantic ports, which amounted to
3.311,5 ,5O1 bushels of wheat for the week
ending June 0, to 9,4OG,S12 bushels for the
four weeks, and to 1G,317.S S03 bush
els for the eight weeks ending on
that date, against 13,G93,779 bushels
for eight weeks ending June IL, 1879.
The foreign demand is to supply con-
sumption from this time until the new crop
can be brought into market. but the season
in England is backward, no pccplng Of wheat
ears having been reported in May, even in
most favorable localities. The stocks both in
England and France seem to be reduced
unusually low and the later advccs are not
as favorable in respect tC the probable yield
this year, either in England or in France, as
those Of earlier date. 1t must be remembered,
| however, that an extraordinary failure Of
crops abroad will be needed to sustain prices
aftcr July, if the yield here is nearly as large
as it was III 1879.
The railroads arc reporting large earnings,
! the gross increase on fOTty-fOur roads re-
ported beng nearly 24 per cent for May.
But it is understood that the pooling arrange
mcnts Of the trunk lines are likely to be
tested somewhat severely by the new position
! and demands Of the Canada roads A Chicago
| papcr states that the lncipIcnt war Of rates
has already gone 80 far that meeting Of the
| trunk lines committee is to be held on the
| 17th inst, at which, il is thought, the charges
that the Grand Trunk has been violating
its agreement, and the refusal of the
| other roads to cOncCdo to it the per
ccntago demanded, 20 per cent Of all
through freight eastward bound from Chicago,
| will inevitably result IN an open and pro-
| longcd struggle. There are many observers
who think that the managers OF tho trunk
lines may be not unwilling to have an excuse
for Il sharp reduction of rates at this time,
! because an unusual proportion of the grain
| shipped from the West is now going by lake.
The following shows the quantity of grain
lin bushels) shipped from the Western ports
| during the last three weeks reported, by rail
and by lake, in comparison with shipments
| Inst vcnr