The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1880-02-27
THE WHEAT CIInuR

There never was a small speculative
Clique, propaOiy, that necsted more nerve
TO carry out lis PLAZA than the ring that
now owns the visible supply of wheat in
this country. One reason-fhOunh the
least one-is that this clique is incur
ring the disapprOval, and in many cases.
the strong denunciations of the commu-
nIty, nearly all classes having turned
against it. OF course consumers. who
have long been paying unreasonable
prices Tor their bread, have from the first
dlsappTOyed. So have ocean freighters.
who came here for c;1Fgoes, but found
the prices for grain equal to, or higher
thani the European figures, and are now
compelled to either lay up their vessels
or run them at heavy loss The grain
dealers have of late Jared but little
better. Tor wheat stored in immense
elevators, the property Of men who will
not sell, can afford no profits or COM
missions The millers can't grind for
the price of wheat is kept relatively
higher than -four; and now the farmers
begin to complain of wanting G market
because the elevators are full and BUYERS
have no place to store. The railroads also
can get little grain as freight, the wheels
OF trade being so thoroughly blocked.
1t was asserted Il few days ago that some
OF the roads, in order to set things in
motion again, had offered to pay a part
OF the storage charges III Chicago, if own
efs would only ship the wheat To This
the Chicago Tribune replies that the ele-
vatcr men deny these reports. They say
that the grain now in their warehouses
lis mostly held for April, May and June
delivery, and there is not the
least probability that the gram
VIII be moved before that time,
even II the railroads should reduce their
freight charges. The prices or grain IN
this country are so much higher than in
Europe that, in spite of the unusually
lew-Eates charged by the ocean steamers,
very little could be exported at present.
The spectators who hold the grain here
refuse TO let 1t go unless they can get
their price, and they calculate on an i'm
provement in the foreign markets by
spring. There is Il general feeling, how
ever, that they are mistaken il this cal
cuIation, and that they will be finally
compelled to accept even lower rates
than are offered at present. Had it not
been for this determination on The part
OF the spectators 20 hold the grain. the
railroads would have reduced their rates
long ago; but 90 Il j.. they say It would
be useless ,o make tle reduction. for the
price cf grain would Be- advanced about
The same amount I he railroads came
down.
So, according 10 this. ;ha blockade
M Ist continue, Tor these H.cn are ail3. b
hold What they have g0s, and, with She
help % the banks. TO buy More i ikcv
think it necessary. Bat certaiuly It
must take great nerve - incur the Iisx.
Caring little, as these men do, for public
opinion, they care for thcir pockets, and
a small decline per bushel viii make an
i'm mn fnrf =.
ties Is they hold. Still they do not
aruple to pat the price up. To the sug-
gcs;lon from Europe that = small ad-
vance there, and a small decline here,
might lead to business, the answer riven
from This side -. not the small decline.
Dut very considerable advanced Well,
we must wait and see how the contest
ends. But meanwhile supplies will
find their way To western Eu-
rope FROM ether, and, in some in
unexpected quarters. For ex-
ample, the southern hemisphere is Just
now commencing what is likely. in
many quarters, to prove magnificent
harvest, which may reach the coast of !
England just in time to meet our "ApriI, |
May and June delivery" Thus il is |
stated that the south Australian harvest |
IS likely 70 turn out the largest ever |
yielded, there being /, 500, 600 acres under
or 100000 acres more than |
last season. In some of the districts the |
reaper has already commenced TO work !
and an average of fourteen bushels is be- |
ing realized. II the present estimates |
should not be intcrfered with by adverse |
weather, It Is believed there viii be 400 /
900 tons TO export, or at any rate, at the /
lowest estimates, 800, COO TONS" which |
will prove enc considerable item in COM |
petition with the deliveries of the "Keene |
CLIQUE"