Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-12-09
OUTFLOW OF STAPLES.
New York Times, December 4th.

New York Times December 4th
With sterling exchange lowering about
the gold importing point, any intelligence
regarding the probable outward movement OF
our leading staples assumes exceptional in
terest for the entire commercial world. The
belief that our large crops of grain would
meet with scaDt demand, owing TO abundant
production throughout the world has already
been revised, but recent statistics published
in the Bulletin des Halies gives exactness TO
the probable requirements. France, II ap.
pears, needs to import 2,750,O0O quarters of
wheat England must have Il, 750, 900 quar-
ters, and other countries raise the total i'm
ports required TO % ,500,O00 quarters, or
about 2l9 100000 bushels. Against this de-
fc'ency The export surplus of the seven
countries producing more than they need is
set down at SO, 100000 quarters, or about
292, 100000 bushels. And there are indica-
lions that This is an gBder7taiemsnt Of the
short half an average potato CROP or about
100000 tons. IL will require several
times that weight of grain 10 make good
this deficiency above the usual German
requirements, and at the present price of
corn wheat is likely TO be preferred. Hol-
land also had poor crop of potatoes In
deed the summers root crops in general
throughout Europe were bad. Moreover, a
famine is feared in the west of Ireland,
according TO the cable. A better apprecia-
ton of such facts as these ia doubtless the
explanation of the relative stronger tone of
foreign prices. The burden of supplying
these wants must fall chiefly on this coun-
try. The India exports are so email as to
induce the belief that its surplus has already
been exported. The Russian ports are fast
closing with ice, and the Australian ship
ments have practically stopped. AS yet
there are slight indications OF the expected
increased movement of grain due TO cheap
rates resulting from the war among the rail-
ways of the Northwest. The receipts of
wheat at the primary receiving points were
actually under the previous week, and as the
exports were considerable the net result was
decrease in the visible supply by 98,172
bushels TO 20,118 .542, sgainst, in 1881, 49,
8l6,2S4. But receipts of corn increased by
one-haf over the previous week, and the
visible supply increased by 282623
bushels, to 4,679,Si1, against 20,634O50 in
1881. And yet, with the supply 30 small and
the Liverpool price so high, the Chicago
markets have been weak on the expected
abundant arrivals of the new crop. The
Statistical position" of the corn crop this
year is about as remarkable as for last years
cotton crop. This years cotton continues TO
be exported in satisfactory quantities. Last
week l75,969 bales went out, against only
81 ,240 in 1881. The increase in quantity
more than Offsets the decline in price. 1t is
necessary to notice that ocean freight.room
is scarce and dear. According to the weekly
journals domestic trade is "quiet." That
might be expected with Congress about to
meet and every one uncertain on what terms
tax and tariff legislation will enable him TO
replenish his stock. In Pennsylvania and
the West the iron manufacturers seem to be
stopping production, but in the South there
is considerable activity. Steel rails,we have
been told, cannot be made for $40 per ton,
but orders continue 10 be acceped at that
figure. Last week there were 1S6 failures,
fifteen more than during the previous week
and twenty eight more than Tor the same
week last year. Bradstreet's Gays that while
an increase in the number OF failures is now
seasonable, still the number is SO large that
the readjustment of prices now proceeding is
the only adequate explanation.