Telegram-herald., 1889-10-17

elose of days business. ins leamnss
olntinued upward, bUE lcsing buoy
a1cy Enghsh cables quiet aud tie
quantity on ocean passage reported az
-3u.oU0 ousaels larger tlan one wes1
g. The weather 0n the ether s.ce IS
-asorable for delivery and Tor late
sowing, while the export business Is
aard.y up 70 far proportion Ia h0ur "
wheat
lae free movement -n the Northwest
Is ss.l the one point " chief interest,
6ut SAD % be scarcely larger than e1-
pectei and the accumulation at points
.l .glt s u0t 50 rapid as counted OF.
A portion LAS gone INTO private eley2-
togs al1 another : passing out OK the
country through Atlantic ports, but
there seems ST.. ~ be al important re-
uiam4ef which can not De- accounted
for except by looking 70 interior mills
az al.orneuts " wheat on a much
lsEser scale than IA previous years az
thi, dA-e. lne conclusion seems nov
t' De- forcing tseI uQOa even tile most
CONSERVATIVE bgyers.
llte utslulug Of tnis cereal wear was
marked ny an almost total absorption
~ reserves, and the men who insisted
upon Their beng vast surplus lett
ofer from the previous year did not
Know what they were talking about.
lne report OF lrwln Green & Co. says:
w nateVer may be tie magnitude OF
our latest crop. 70 Will not 0c unfair to
subtract 10000, 600 bushels from Il ln
r,-matng tho quantity 90 press on the
market with average WeiL Lht." Allow
lns Tor the differences at the two ends
90 the last cereal year the consumption
and exports ot that period Will appear
"a have been fully equal % the supply
OF thI-, 30 that the market ought not
10 experience weakness If there be Il
promise 90 the past moderate foreign
demaud Tor our breadstuts. The out
look Tor foreign business Is much bet
Ter than what 10 has been. held back
recently by the fact OF q slightly better
home supply IN the United Kingdom
| 20 oe partly used up before the demand
! On the United States becomes really
urgent.
The visible supply, 900 900, consider
a
/ neapOiis and Chicago which are not IN
| cluded IN the visible supply. New
4 York has five millions, Duluth and
Minneapolis three and half
/ millions. Chicago two millions.
IT. LOUIS nearly two millions, Toledo
/ nearly Cne million and quarter, and
other wheat ports all less than a mil
| lion each.
I Amount IN ,,e-a~o A. A. -
/ Kingdom and continental Europe has
| increased two million bushels last week.
/ TINS was surprise and shows that other
/ countries are exporting. 4 decrease
was generally expected. The total now,
/ however, is less than year ago.
Present antcIpatiOns of lower prices
/ are open % a reversal at any moment,
/ owing to the manifestation of foreign
! anxiety 20 secure adequate supplies 10
hil the void supposed to open by pow
erty OF crop yield in other countries. 1t
Is true that the relative cheGpneSs OF
corn is leading 10 its free consumption
| rs human food IN Western Europe bv
| people who never before used It, but
| this VIII not prevent a sharp demand
for our wheat or its flour product. We
write from the indicated change of tone
OF some prominent English
writer's on the situation, and il
| appears probable that the locking UP Of
| Black Sea ports by ice viii be the
signal for q rush of buying from us that
| Viii assure = decided advance. By that
! time II Will also be evident that the
| great bulk Of what is yet to spare in
| this country Is stored up IN places where
It's expected 10 pay charges for carry.
| ing through the winter, and VIII not
/ come out unless a considerable pecuni
airy inducement IS offered for letting
10 90.
Corn Is beginning 20 show some signs
Of turning. The free offering which
| forced it down has nearly exhausted
itself. and many dealers are beginning
% ask If it be safe TO operate for q
| further decline, while many of them
think that the crop IS not as large MOI
OF 80 good quality as was the one last
year. The latter point Is perhaps the
[ only one from which further weakness.
/ may be feared. A pressure of soft corn
on the market would tend to reduce
temporarily the price Of the good for
/ immediate use.
I'm the absence of such a feature or
after g appearance, the market would
Dee almost certain to ''gO up" as the
extra demand for foreign consumption
would more than cOunterbalancc the
argument that corn has been sold be-
low thirty cents two or three times dur
( ing the last quarter of a century.
Il is reported that 20 900 bushels Of
wheat AMI l20, 900 bushels Of corn were
taken IN New York yesterday for ex
port. The receipts Of wheat at Liver
/ pool during the past three DAYS were
81 600 bushels. of which an, 900 bushel.
were American. Receipts of corn wcrC
100, coo bushels The exports OF whea
from India during the past week wer,
54S 900 bushels, of which 34s 600 bushels
wereto the United Kingdom, and poo. .0OO
bushels 20 thls continent. The ship
/ ments lor the spending week II
1883 were $50 900 bushels the total
I shipments SINCE April were 1882. .00'
bushels If which 9 s48 900 bushels wer,
% the United kingdom and $4,000
bushels 10 the continent. The toa
sH pments for the corresponding tim.
IN 1888 were 23.76s 900 bushels. o.
which 1900. 600 bushels were 10 Tn,
United Kingdom and e,sSs 900 bushel
F 20 the continent.
The Michigan Grand Lodge az Goo
Tsmplars convened a. Grand Rapids Tues