Year: 1874




Are tho Farmers Keeping Their Crops


Back for higher Prices = what


Shippers and Merchants Say The


Trade Healthy, Money Easy in the


West, and No Conflict Between the


SpeculatOrs and Producers.


AS considerable comment has been MADE ID
various journals upon the contest said so be going
on in the West between certain Chicago wheat
SPECTATORS, on the one hand and the grahgers
on the other resulting in a prevention py the
latter OF movement OF the wheat crop TO mar
ket IL was found desirable to investigate the mat
ter with the view that no false impression OF the
situation should obtain credence. There Is no doubt
that the receipts OF many OF the Western railroads
have fallen off considerably OF late, and that the
cause is the non-shipment OF the new crop OF
wheat but as the time approaches for the close OF
canal and lake navigation there viii, doubtless,
be such demand for transportation TO the sea-
board that the companies now showing falling Off
in receipts viii be more than compensated in ex-
cess of business later in the season. As much has
been said and written about the granger move
ment and Its decidedly combative attitude toward
the great railway lines OF the West, 1t was ac-
cepted as natural that the slow movement or the
crop toward this point-tO which II gravltates at
this season with regularity almost eguallng the
ebb and f0w OF the tides--was 10 be attributed TO
granger conspiracy. 1t was to confirm or deny
this impression that HERALD reporter was sent
among the railway magnates, grain merchants.
shippers and others Yesterday.


the hrst gentleman spoken TO was raliroad
president, whose oflice Is IN William street, near
Exchange place. He said in substance :-"lt Is
true the traftic on our road has fallen OF some
what during the past week, and the non shipment
OF the new wheat crop has great deal to do Win H.
] do not, however, for moment suppose there IS
movement In concert among the grangers 10 effect
this purpose. 1t Is due entirely TO natural trade
causes the supply oil wheat Is large IN the west
and the foreign demand is light, hence but few
orders Tor shipment and declining price for the
cereal The farmers do not wish to store their
grain In the East and SO they keep 1t in their
granarles until such time as it will command
better price. The granger movement is serious
OF course, and there Is degree OF lnharmony be-
tween their societies and ourselves: but am
happy to inform you that we are arriving at q
better ieeiing."


Alter this interview the reporter sought the
President OF one OF the wall street banks to in
qulre as TO the condition OF money In the West and
general trade prospects there. He was politely
sod taat he people arm1g IN 6he aM west
thing seems to be healthy with them. Here is
letter from one OF our correspondents in Illinois,
and here another from banker In the interior OF
Indiana, IN which they speak IN the most encour
aging manner OF the future. Money Is cheap; the
crops are good, with the exception OF corn; labor


is abundant, and, with cheap transportation to the
seaboafd, Il is hoped that every trace OF disaster
will soon vanish from the West.o


The President OF the Produce Exchange, Mr..
Franklin Edson, was next visited at his onice on
whitehall street.. Mr.. Edson said:-"fhe granger





There is absolutely nothing OF Importance going
on in the West or in New York or abroad to innu-
ence the grain trade or to cause disturbance or
sensation. the usual fluctuations OF course take
place on Change In hay, corn, wheat, OATS &c
IN Europe ireignts abundance or failure of crops,
the price OF gold, variations in foreign exchange,
&c Beyond this there is positively nothing new IN
the trade. Last year, when the country passed
through that terrible ordeal,


THE SEPTEMBER PANIC


we scarcely felt a vibration OF the shock here
I among the gram dealers Tor the reason tnat Ell.
rope wanted our grain. She must have Twas
ready to pay the gold for it, and, therefore, busi-
ness was good and the produce dealers happy.n
The reporter next visited the old house OF David
Dows IL Co., extensive shippers and buyers of
grain on South street. and, although disappointed
III not seeing the senior partner, was accorded an
interview by one of the members OF the firm, who
explained in very clear manner that 1.-The report
OF a granger movement keeping the crop from
coming forward was so ridiculous that 1t could
only excite mlrih among Intelligent grain mer, Ia.
OF wheat, but the farmers were only holding
back in the hope OF realizing higher prices. Last
crop, and It mas rather disincined them to accept
the present situation Of the markets. But last
year


EUROPE WAS BARE OF WHEAT.
She bad to buy our crop, and OF course, we got a
good price for it. Now, however. there Is enor-
nous crop IN Germany and q lair crop III England,
while our own is very large. The corn. however,
Is failure. Therefore, it is only question OF de-
@ M sulr bsaP seaeSfs
henc a"onn '"e ssn meIcnauts. mere Is
just received. He says:-lowa is full OF
money. The low prices Tor wheat VIII keep it
back Or whlle as the necessities OF sellers COM
pelling them to rusn forward their crop last year
does not now exist look forward to a healthy
sound business. The Indications Of returning
prosperity are everywhere TO be found, and be-
lieve, alter the farmers have done their 1a work
and put In winter grain. &c., we shall have fair
and regular arrivals. AS to money. there are no
indications OF any strlngency TINS autumn, unless
it Is manipulated for short time III Wall street
by some OF the financial pirates on that Barbary
coast. feel hopeful OF the future, and think We
shall have healthy revival In all departments Of
business, as we have been blessed with abundant
crops Of nearly all our products"