The Portland daily press., 1882-05-04
DOWN TOWN.
observation-disclosures Topics.

There was nothing new in the local money
market yesterday, money continuing easy
which is the case in Boston. Maine Central
consolidated was weaker. In Boston the stock
which had sold up to g., declined to 5o 7-S'
Governments were irregular and sterling ex-
change was quoted at 4.90 for demand and 4.o7
for 60 days.
There was sudden and unexpected de-
cline in beef in New York on Monday in con-
sequence of an unusually large number of cattle
which had been sent to different points East
and finding dull markets, being concentrated
in New York in the expectation that the
market was strong enough to bear thestrain.
But the over supply broke the market down,
and the wholesale dressed beef trade was dull,
without any hope of a recovery for several
days. The price fell from 10 IL to IL IL cents.
The same quality of beef was selling year
ago for cents per pound.
A general review of the crop reports does
not present an over encouraging prospect for
the future of the wheat crop. 1t is asserted
that spring wheats are pretty closely cleared
up in the West, and very little is left for grind
ing. The supply of winter wheats are rather
moro abundant and will be likely to be in de-
mand. Holders are said to be Indifferent
about selling, looking forward to more active
inquiry. In some of the important Eastern
markets flour is paralyzed on account of the
large stocks in hand; in some cases an increase
over the same time last year. Printed reports
say there has been great damage done to the
wheat crop in Kentucky, Southern Ohio and
Indiana, and in some portions the ground
originally sown to wheat has been turned up
and used for other crops. From Dakota,
where spring wheats are favorites, the prospects
are more favoroble, later season than usual
being the only drawback to the future. Kansas
holds out the usual promise of abundance, as
the young wheat has an unusually good color.
In Wisconsin larger breadth than usual will
be sown. In Nebraska the present indications
are extremely good for immense crops this
year. Minnesota is said to be gradually adopt
ing system of mixed husbandry in place of
wheat growing No very serious damage has
resulted in Illinois from bad weather and
frosts The testimony from California may be
summed up as favorable to average crops,whil
In Oregon the weather thus far has been very
unfavorable and a smaller area than usual has
been sown in the valley of the Columbia, but
an improvement in the weather will be follow
ed by greater operations by the farmers The
highlands and plains of Eastern Oregon
promise larger yield than ever on account of
a greater area of acreage than last year.
The excess of imports or Of exports of NOR
chandise has been as follows
March, 1882, excess of imports, S., 97S PA;
March, 1881, excess of exports, 1924, 1855, 500.
Three months, ended March 81 1882, excess of
imports, 1929 $685. same period last year, excess
of exports, 1913, 128 038 Nine months, ended |
March 81, 1882, excess Of exports, $50, 010, 245;
same period last year, excess of exports, 1884,
840,790 Twelve months, ended March 81, |
1882, excess of exports, $50, 49,, 173; same |
period last year, excess of exports, $243, 49,
Ali. The excess of imports of gold and silver |
coin and bullion for twelve months ended |
March 81, 1882, was $27, GIL; same period |
last year, excess, $76, 943,979.
Up to April 10Th six vessels from Chicago |
had arrived at Midland on Georgian Bay carry |
ing 14O, 900 bushels of corn for Europe and the |
Eastern States and 10000 for local consump- |
ton at Toronto 1t is expected that the aver
age receipts for the season will be Is 900 bushels
per day. The United States customs officials |
are already established at Midland, and in
structions have been issued from the Canadian
departments to make Midland port Of entry.
This new route for grain carriage promises to
become very popular, as it furnishes outlets to
Lake Ontario by way Of Toronto, Whitby,
Port Hope and Bellevills.