New-York tribune., 1886-01-18
WHEAT.
EXPORTS SHRINKING AND SURPLUS ACCUMULATlNG
POWER OF TIE BRITISH SILVER MARKET.
To me EdifOr OF The TrIbune.

EXPORTS SHRINKING AND SURPLUS ACCUMULATING
POWER OF TIE BRITISH SILVER MARKET.
To the Editor OF The Tribune.
SIR: Exports of wheat and -four during the
month December appear from trade reports to have
been about 900 900 bushels. The returns from Port
lana Oregon, quite complete. and tho amount
may be Increased centals SO far the quantities
known have been shipped are equivalent 10 2,sS327O
bushels wheat tho Pacific and 5ll7073 from
the chief Atlantic ports Complete ohcal returns from
all the ports the country make the net exports during
the Ave months ending with November equivalent 20
755ols bushels Of wheat that the total for Tho six
months will not be far from 755 900 bushels n the
exIors remainder OF the crop year should bo
ar those OF January juno Inclusive, 1882 namely
57I26305 bushels no tho total for the year would bo
only 0s 1891 1865 bushels and thore would then bo LEFT
ovor July l. ~ the consumption should not be greater
than the average for tho past few years. about
bushels per capita for food and use In manufactures not
far from II 200. 900 bushels OF wheat
Thero Is present to expect that the exports
will be large they wore during tho first half OF
1855. The British markets clOse the year with prices
even lower than were touched at any time In lssi.
Though the average last year the lowest for lO5
years, Its lowest weekly 30s. Sd. But tho
average for tho week ending December this year
sis the weeks ding December IL and 10 only 3Os
sd. ; for the week ending December 20 only 30s I'd,
aud for the week ending january only 30s. 3D. max
Ing fer the nve weeks average OF only 800 7id
quarter hfty three weeks ending with January
the average was ouly 32s. 9i2d, against 35s s2d In
1884, The sales have Of late been froo la spite OF
extreme low prices, that British trade joui nails
gravely discussing suspicion that the official report OF
the British crop about 900 900 bushels below tho
trath The suspicion appears to have no foundation
whatever. but tho character OF tho market Is clearly
indicated by the fact that II IL seriously discussed
In q leter which you published year ago. attention
was called to tle harmful influence OF speculation in
products on domestic exports and It urged that tho
co Inry was likely be left with surplus OF
wheat. During the rAs year tho results have beer still
more disastrous; prices hero have been he'd steadily
above tho evcl oLverpoo since the crop began
10 come IN British markets have been supplied therefore,
mainly from other and from the Pacific States
France has cut dogn imports OF wheat to abont
6 600, 900 bushels from August to November 30
against about 10000 900 for the months OF tho
previous year visible supply hero has swelloi
ihat January . 10 5e.615,325 bushels of wheat
alone and Brddsrc Is finds about lO,OOOOOO bushels
more ia sight at various smaller towns In addition
thero great quantity Of nour, not merely 100000
barrels Irndseef6 rspOrt which would hn less than
n single weeks supply for the country, but doubtless
several tiiGes much Indeed, figures nave boon pub
li,hel going to show that tho quantity remaining at
Milwaukee alone must no MT much below l,OoO,OOO
s,rres Judging from tho receipts and shipments or
wheat and fGuf at that point during tho past year
Moreover these statistics refer tho supply In the
Atlantic states Rone the statement by Meyer Wilson
4 Co.. published In san Francisco, shows supply OF
l3O that State January not In the hands OF
pro 'ucers OF the quantity still required In Cal
fornia for cOnsnmp .iOn ana seed Doubtless thoro s
also large surplus in Oregon and tbs quantity stl held
By producers ia those sans In the Western stsles 10
also large ft may be supposed that home consumption
VIII materially increase because prices are 80 low Bus