The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1895-05-04
THE FLOUR SITUATION.

THE FLOUR SITUATION.
The trade of the mills is at present al
most purely domestic and so far as vol
ume is concerned 1t is quite routine. This
class of trade is Of such q character as
to accept hour at what the mills quote
Each mill is supplying its own customers
and individual sales are generally so
small that buyers do not ATTEMPT TO get
prices from other concerns. Thus the
advantage is In q measure SUSTAINED.
The mills are getting prices proportional
to the higher cost of wheat but they are
doing little with the larger trade.
Foreign markets have not advanced to-
any appreciate extent. Practically the
kind of -four they have been taking isl
bakers grade and for some time prices
on these goods in English markets have
been extremely hig:h-in fact, higher
than even the wheat market has warrant
ed. Sales abroad have been limited to
the supply. BUT the Europeans have not
been taking OUR patents and it may be
doubted that they could be persuaded to
take a large quantity even on the basis.
Of 81 cent wheat here. For bakers
millers have realized as high as lss IN
England but that is owing to 8, special
demand for that particular grade and
does not reflect the condition Of the
English -four market which As generally
depressed owing to great competition
among their own nli,lers who, In many
instances. are running l.r At q loss.
Millers are obliged to raise prices and
the. advances quoted for patents just
about restores the proper differential Of
values between patents and bakers. But
the tenacity shown by buyers in combat
ing such an advance is remarkable. The
the market. MiIers have been misled
by few good sized orders thinking that
at last the trade was ready to accept the
advance; but these orders are, few, and
on the first evidence Of a break In wheat,
even this trade fell from view. Buyers
avoid loss and they have come to the con-
clusion that the safest way to do that
is to risk nothing on the strength of an
advancing wheat market. Had they fol-
lowed that policy for the past three
years, they would be better OF, but they
should bear in mind that SIT is q long
road that has no turn" and not to be SO
conservative as to allow precedent to.
control Judgment. Precedent is a good
thing to stand by in many lines, but In
commercial lines with so many influences
at work as operate in the flour market.
ord.
NEW YORK GRAIN EXPORT TRADE
The commercial organizations of New
York are thoroughly aroused to the fact
that the grain export business is leaving
New York for other outports. The New
York Journal Of Commerce talks plainly
about the matter, and admits that New
le ~, Il Of 1or rf
OF the grain business. It says:
What we referred to above as an arttd-
cial difference in this respect Is that here
the elevators and the railroads and the
warehouses represent distinct interests;
at some ports they represent identical inr
terests, and the railroads cut on elevator
charges and make themselves good In
another direction. In these respects,
then, this port Is at a disadvantage as
compared with other ports. Against
these. however, It has very large adyan-
tages. So far as the elevators and
railroads control the situation we are In
clined to ti1ink the balance Of advantages
is against us, and that the business ct
exporting grain would gradually seek tina
outports. This tendency would be re-
tar1ed by the fact that this is the great
port Of entry for the continent, and here
is found the greatest feet of vessels
seeking employment. But the value OF
this factor may be overestimated. The
fast passenger steamers are not great
cargo carriers, and the freight steamers
may go where they can get return car
goes at the best advantage. Some of the
railroads are interested In lines Of freight
steamers that run to ports south of us.
There is no law Of nature that requires
the commerce between Europe and our
northwest to go through our gates. En-.
less the elevators and railroads are
enough interested in the grain export
traffic of this port to make the rates as
low or very nearly as low. here as at the
outports, the grain business would prob
ably gravitate away from here but for
an influence beyond that Of the roads
and the elevators: That influence - the
Erie canal
The Erie canal gives New York an un.
mtstakable advantage as g shipping port
because the cheap canal rate offsets IN
part the excess of charge In New York
oyer other ports. Phe BUSINESS men OF
New York seeing this advantage. are
urging the improvement Of the eapal and
will make no objection IL q way is pros
Yided by which grain can BE passed
through Buffalo at less expense. It is
probably true that the elevator system
e gaa L te spnE aad e. .na
York can secure modif tons OF Buffalo
shipping ARRANGEMENTS 1t will be we'll
New York feels that she needs a system
of warehouses on the water front edIt,
and railroad interests ia that city are
called on e. show their lows II Il hi a ~
Ierafion 81 liz iiols asiesti me- iarsc