The herald., 1896-07-01
MARKETS OF TIE WORLD
Local, Eastern and Foreign
Commercial Dealings
WALL STREET SPECULATION
New Mexican Oranges on the Chicago
Market
WALL STREET SPECULATION
Wbv Produce Rules Low in prlce-Suppliss
OF All Kinds Are So Abundant Con-
sumption Tends 90 the Cheapest

III is not difficult TO arrive at conclusion
as TO the reason why the prices of the
country produce and live stock are low, for
it is simply owing to the fact that the sup
ply is in excess of the demand When this
statement IS made 1t is not intended 10 re-
fer so much to the fact that the supply OK
any ono kind is so large as 10 interfere SER
iously with the demand for that KIND, us II
is that the supplies in addition, OF articles
which can be used as substitutes are large
and come in competition, thereby reduce
ing prices to a lower level than otherwise
would he the case.
Take the live stock trade, for instance.
and we find that supplies Of cattle, hogs
and sheep being fairly large, the con-
sumption Of beef. pork and mutton at low
prices each affect the price of the other'
whereas ii nogs were scarce ana pork hlsh
and the same status OF affairs in reference
to sheep and mutton existed the price OF
beef would not be affected so much as it
Is when the consumer can purchase the or
binary quality of pork and mutton at very
reasonable figures. Low prices OF eggs,
rs tAis paper has repeatedly called atten-
ton to, have iad an ciIect upon Deel, pork
and mutton.
Wheat IS md has been low, and that too,
in tho face OF the fact that those
who have closely studied statistics
on crops ana marketing have, In many
cases argued that there would shortly DC
wise according TO their reasoning. These
prophets OF wheat prices did not take into
consideration the extremely low prices q.
Whlcn potglocs have been selling, ana
which can and have been used as Substi-
tuteS for i0ur. Then again the low prices
OF corn have affected.the price of corn-meal
and that in turn has influenced the demand
for flour.
1t Is thus we see that in considering the
market values OF live stock and grain
the fact should not be lost sight of that
there rs something else besides the supply
OF any one kind that VIII have an effect
which Oftcntmos ia very marked. Traders
must cease TO be one idea men and become
brOader-guagCl when they survey the sit
uatiOn OF the live stock and grain markets.
crops OF the cereals and sufficient supply
Of cattle hogs and sheep to keep prices
down there is nothing that can give any
hope OF higher range OF values, unless
OF affairs which is not looked for at pres
ont.
Thero is but one consolation left for the
producer ami that is The greater purchase
ing power 0t Tie money which he obtains,
Tor there has NOT been n time in years
as ii viii uow.-kansas City Journal of
Commerce
A dispatch from Chicago to n Sacramento
paper. under date of June 23d, says:
The first arrivals of the new crop of
Mexican oranges are arriving in TINS CITY,
Twenty carloads of them are due here dur
ing the ten days preceding July 4th. The
market is well cleaned up on oranges, the
California supply having been exhausted
high The receivers refuse 10 name prices
for straight ears OF these Mexican goods.
but il is conceded that they will break the
record on the Fourth of July prices.