Chicago Daily Tribune Newspaper, January 1, 1877, Page 6

) lhe{;ml 8 batter mat) pared THE CHICAGO TRIBUNK: MONDAY, JANUARY 1, 1877—TWELVE \PAGES. fas Michigan and Ohlo), et for ita product pre- the patent process. WINTRR WIEAT. For mauy ryurnm: winter wheat has been scarcely notfced in this market. Since last mlg there has been o notable change In this respect, the new winter wheat belng eent Dere i comparatively large quantities, It has found a falr marxet, snd generally commanded & asmall premium for No. 3, and & decided preference for the lower Endu over spring whest. It is nearly all shipped, Jittle of it TIE CARADIAN MOVEMENT befug nsed in Chicago. of wheat from this market has been the light- est of many years past. The Canadiaas needed littls or none for thelr own uee, and prices here since July were uniformly too hich to offer a profit on shipment to Europe. For this rea- son Canadian operators have held aloof, thelr former experiences on the losing side making hem cautious abont nsumlnfi undue risks, nstead of wheat the Canadians have purchased rather freely of bagged flour for shipment to Europeau markets, where it finds 8 rcady sale, nk\m British millers do not put up thelr flour in 8. ‘The present tendency, however, other things being cqual, sceims to be to buy wheat Instead of four far export to Europe. “The mlllers on the other side of tha Atlantic can now obtain ‘wheat at lower comparative prices than they used to do, and can make a profit oni grinding if, which was tormerly denled them. The reason far this s tle fact that there arcnow better fadlitics for haudling _and transferring wheat in bulk on our scaboard. A fcw years ago there wers no arrangements outside of New York, and thosc of the crudest tharacter, for handling wheat except in bags, and the package of flour was as caslly hnmllml a8 an egual bulk of wheat, Now thé wheat Is handled the most cheaply, and the English miller bas the double advantaze of helug able to combive different kindsof wheat so as to Eerodnce the quality of fiour his customers Itko st, and to offer |{ln packayes which suit thelr tastes, the English consumer dectdedly prefer- the sack of home-made flour to the barrel of foreign manufacture. OUR WHEAT IN NEW YORK. . Wa have adverted above to the fact that our No. 8 wheat, alter having heen cleaned fn Buf- {falo, {s generally rated in New York as Chleago No. 3 spring. This tact tends to foster an er- roneous impression at the East and in Europe ‘with_regard to the reat valuc of the wheat which inspects as No. 2 here. The owners of 5{_““ have an undoubted right to improve the u: ol 'the winter wheat reglon ality by cleaning it, but it s much to be do- ed thai such cleaned eraln should not be used to lower the estimntion in which our standard grades are held. Wo have heard and read repeated cxpressions of surpriss at the unexpectedly good quality of cargoes of No. 2 ordercd directly from this market through responsible houses. It I8 unfortunate thet such cargoes have too often boeu regarded 88 cxceptions to the rule, so that thuy have not elicited otherorders so frequently as they ought to have done. Tho houscs in the British Jsles who have for mang ycars past sent thefr orders directly to Chicago have never had occasfon® to find fault tiil the past summer, when two or three cargocs of wheat were shipped from this city as No. 2, and arrived at thelr destination more or less out of condition, That the wheat ought to have becn posted was generrlly claimed by the trade, but tho Btate ofliclals who (mis)man- ed the tnspection had thelr own opinions on the subject, and their action was—to speak muildly—of no advantage to the men who deat in wheat, ‘There Is every reason to hope that a stand will be taken by the grain dealers of this ity and the interforduring the current winter which will bring about a change that will hea sl‘xxmrten against any future mistakes jn that on. THE PROSPECT FOR THE COMING TEAR {n this market Is a stlit smailcr supply of wheat sod prices realized thercfor, “According to the best estimates, England wiil want 14,- 000,000 quarters, or 112,000,000 bushels, from foreign sources {o supply herdeflciencies during the current Larvest year., It Is fair to assume " that of this quantity an average of at least drs e M, e SRR 1,000,000 hushels per week must be nur led from the United Stutes cast of the Rocky Moun- tains, which means that the Unlted Kingdom wil) want all wo Lave to spare. A larze part of this deficiency wll be supplied from tho winter wheat ralsiog rez?om, the yicld of the Northiwest being mmpmtlve:z light. Jlinnesota and Wisconsin have not mu ‘wihieat to_spare, after deductions are made for local feeding, milliog, and sced; ond the yleld of Jowa shows a decrease. For this renson the recelpts of wheat at Milwaukes will prohably show a falllng off for 1877, and thoee of Chlca- &o will certainly doso nvless relatively bigh yrices or yery low lake {reizhts attract fifther- ward tho surplus of Kansas and other parts of the Southweat, which woull otherwise reach tho seabioard by the cut-off lincs of railroad that carry grain past Chicago to the southward, CORN. TUE COURSE OF TIIE CORN MARKET hias been o surpriso to most people in the trade. The movement through this city was unusually large. The recelpts of the year were 46,808,753 ‘bushels, agatnst 28,341,150 bushels In 1875; the shipments were 43,881,153 buahels, sgalnst 20, 443,584 bushols the preceding year, This in- creasod movement was duc to the fact of a blgger crop In 1875, and lessdisposition to hoard iy the cunditionof the crop belng poor. A great deal of tho corn was damp when . gath- ered, owlng to lopg-continued bhad weather near tha time of maturity; many flelds being entirely under waler for weeks together. Tho reanlt was that the corn could not be depended upon to keep. Not a little of ftrotted in tho cribs, and thero were a good many had kerncls even In corn of otherwise Rood quality, Itwas thus llable to heat all through the year, especially fo the hot weather of the summer; unlike sound fat corn, which is in danger of heatlug only during the germinat- + Ingsesson. Greatcare wasnccessary in handiing ft. Dlany parcals which had been moderately well dried took In molsture when cxposed to o damp stmosphere, the rotten kernels absorbing waterllkea sponge, and tho shipping proccss was unusually risky. A great deal of the corn reached ta destination in bad order, though ‘wohad no really hot corn in Chlcago. Thls weas, however, rather due to good handling in warchousc than to good inspection, Shippers clsimed that : THX INSPECTION WAS TOO LOW, especially on the curea corn that came in during the spring and summer months, most of which ought to bave beon passcd as rejected on ac- count of {ta dampness. It was charged thay this was chilcfly the fault of the Committes on Appeals, " who generally ruled in favor of the recclver, when called pou. The matter grew so bad fu | + July that our most prowinent shippera protest- i gh P P D ey would pay no more luspection fees, and the result was Lthat successors were uppofntcd to the wentlcmen then forming the Appeal Cumumittee. The luspectionafter this was more satislactory to shippers, and our No. 3 was soon alittlo beiter than that at ‘Toledo, which bad been preferred to oure under the old ruling. QOur recelpta continued largo till . towards No- ‘vember, when they foll off to a low polnt i with fndications that the old corn Lud pearly alf left glt hauds, while the new corn was not ready move, nM NEW ClHOP s kl 18 belloved to be above the average in quantity. . Inthis Btate l-had]leld 1a rather sinall; and the crop bas suffere in some parts of lowa by {:rulhurflm ands. But In additlon to a poor yield on low usas aud Nebmpfi uypou alarge . cyop, and the yicld in the East s amall enough to make that sectlon a good customer for Weat ern corn. ‘The quality of the uew crop is gen- crally reported to b’ firatclass. It was well developed under s high temperature In Beptemn- ber. It wss sccured in good order; andl, for that reason, will bear keeplig, It 1s a0 fat that, though matured easly, was uot it to forward to markel Ul after it had becn subjected to heavy frosts: and comparatively Jow prices in the eutumn did not luvite tocarly splpment. For these rcasons thercwas a gen- cyal dlaposltion to crib the new corn, sud the - yocelpts hers have been light thus fur; though rrumhlnk 0 bo fair botween now and the open- ug of navigstion. It scems probable, however, that the corn movement of the coming year will by -eom&nnuvcly luiht unless much higher au those of 1375 ahould draw It out. any holders will undoubtedly prefer ta keep a ! yeserve of corn that canbe stored for scveral : yml;&huludwluer of spulllug, m‘i‘l may be . used vautage fu case of acomparative cro) fsllure {n the future, P & ) YIELD OF PAST YEARS. *The foliowlug table gives an spproximated statament us thie coru crups fo the United8tatcs 19 several past years. Thess figures are nat so I a4 some that are published; but theyaro probably as near to the truth s the circum- ©f the case will warrant: Crug, ol bu., 377 002 887 AlL 708 TOE RANGE OF THE MARKAT has been unusually small, the vapiation In prices for several mouths beinz only a fow cents, The course ot the market In 1876, at least during the first ten' months, was governed more by calcu- Iation, less affected by what is usually called upcml:\uon, and ruled by fewer men, than in nn{ former year since tlie War. It has bLeen wiillely spokén of ns a manipulated deal all the way through; but the movement of the old crop scems to have been a perfectly lealtimate onc. Early in last winter certain prominent ¥mlcu took a comprehensive survey of the fleld. hey saw that the consumption of corn was capable of being indefinitely Increased In Eu- rope, It suppiicd on attractlve terms. They saw that the farmers of England, Ircland, and France have ru’cnfl{ wakened up to a scoso of the value of corn for feed, and become con- vinced that with low-priced corn they cay fatten stock mnch more cheaply than the meat can bo procured from the United States, These par- tles, thercfore, concluded that the marketable surplus of the West was no greater than could be sucressfully handled at moderate prices, even if there were 1o material increase In the New England demand; and deemed it probabla that freights would rule” very low fn 1873, as lhcf had done the preceding year, cspecially §f the moving part ot tho corn crop should pass through few hands, so that there would be little competition among shippers, In which event carriers would have littlg voice in the establishment of freight rates, ‘The fncreaso in tho demand for corn In the British 1stes during the past few years, aud the obscrved ratio of price to consuinption, satis- fied them that if corn could e laid down in Ureat Britaln ot 268 per Tmrler‘ steadily and continuonsly, therc would be a demand for all that could be forwarded thither. Ov thls estimate they decided to buy all corn offered, 80 long a3 they conld make a profit on it at 20s, C. F. & I to Liverpool; and made some large contracts tolny it down there at that figurc. ‘These offers were readily taken at first, buyers on the other slde of the Atlantic belleving that they could work off untoll quantities at something above that price. The outlook was certainly a favorable one for theni; and, in England, Ircland, and France, cxtraondinarily largo quantitics wera absorbed, taking the place of other and more cxpensive feed. Dut the task was greater than had been bargalned for. A steady demand In this city, which was ncces- sary to carry out the plan, ‘brougint out much larger quantitics than had been reckoned on, as shown by tho large Increase {n the volume of receiptsIn this city, and the offerings on the other side of the Atlantic were so much in ex- cess of the wants ol conrumers that the price fell to 23s on lots (n conditlon, and same R:\rccls which had become more or less cated fn the passage werc sacrificed at 10222 per 43U pounds. §tlll, the snip- pers kept “manfully at work, and, inland freights belng maintalned at a8 very low polnt, with comparatively little competition from other shippers, they wero able to operate In such a manner that the losscs of the scason, on the depresstons in the market, were more than equaled by the palns on the favorable turns— and there was a moderate profit on the work of the year. The difficultics of the situation were cousiderably increased by the facts that the old crop was'not In s0 good condition for kecping as had been calculated on, and was therefore rushed forward to market very freely, while the poor conditfon of several cargocs madle trans-Atlantlc hl‘?‘ur! less wliling to take hold than they would otherwize have been, which caused a falllag-off in the British derand for consumption. After the close of navigation the movement ‘was slow, Tho new corn camo forward 8o tard- ily as to induce fears of a corner on the light stocks of old in December, and the price for that month rose to a premiuin, which Kept the old at home, and made the average of quota- tions for tho closing month the hizhest of tho year. Country shippers, and some of the re- ceivera In this¢ity, complaincd that tho Inspec- tion was so high ficre that they could not afford to send their corn to Chieago,” A large percent- age of it was passcd {nto store as new mixed or rejected, much of which, the owners cialmed, ought to have been graded ns No. 2, TRICES. The followlng table shosys the monthly range and the average price on No. 2 corn througiout the year: biy 47 HE CORN-GROWING AREA States is finmeunse. Corn {s now succesafully cultlvated fn nearly every part of & tract of country that extends 1,000 miles from north to sotith; and even mora than that from east to weet. The State of Texas has ralsed a magaillcent erop fn 1873, and aome patches in Wisconsin have ylelded 70 bushels to the ncre, 1iltnots and Towa bid fair to Increaso the area of thelr corn-culture, as cattle-ralalng becomes un- profitable {n those States; and Kansas Is just cnwrln_li the flelil us o contestant, for the honor of l;:lnp lying tho wanta of the corn-consuming world.! OATS. THE MARKET FORL OATS exhibits a marked falling off. There wasnot much change in the volume passing through the city, but o great decrense In aggregate value, The recelpts of the year were 12,654,021 bu, agafnst 12,016,426 bu In 1875, and the shipments 11,688,471 bu, against 10,279,13 by the preceding yuor. But the value of reccipta was not much more thau half as great, owlng to the fact of relatively low prices during 1870, in addltion to poor quality of tho new crop. The course of tho market has been very rog- ular, there belng few features to require de- scription, Tliere was no corner, since tho one In the summer of 1873 resulted disastrously to tho party who engineered it. The new rulca of the Board of” Trade, too, have been espectally unfavorable to coruers in oats, as the 5 per cent penalty, i1 tmposed on partles falllug to make provision for thelr contracts, amounts to com- paratively littls on a 5,000 bu lo. Hence prices ruled low In the abscuce of excitement and under u good supply (the crop of 16875 belng a large onc), which Is scarcely yet exhausted, Tho surplus of that crop was con. slderably Jarger than was supposed by many parties in the trade, and they lost moucy by operating on the long sido of tho deal, TUE SHIFPING MOVEMENT ou the old crop wus & eatlsfuctory one to the trade on tho whole, ateudy; the volume being much larger than the preceding year. The Jower urades chictly went to New York, and o fimmuu)'hn.::unuwem taken by New Englund. rge quuntitics wero o “forwanded to Moutreal, whence they were exported to Europe, This wus alinost what Beerbohm would call “a uew feature' in thu trade. Some oats have gous to England In previous years, but the cxports of 187& were five or mx times greater than those of auy preceding twelve months, Cowmparatively low prices here, and cheap freights to the scaboard, enabled Engllish {eeders to buy our outs st small cost, and the result was a much greater consumption, as in the casc of corn. ALL TIlIS WAS CUANGED with the advent of the new crap, which is a ver: poorone, The Agricultural Bureau estimated & deficlency of 29 per centas compared with 1875, Western operators belleva that the yleld of the two years was nearly equal, fn measured bushels, but there fearful loss in welght, the malority of the **oats" belng little better than mere husks, such as the Prodigal Son pined for fu vain, Oats that weighed only '.g@.’d ibs to the measured bushel were™ freely graded as No. 2, yet fully three- fourths of the ~ néw oats have been poor to stand cven that poor teat, and have passea as rolected. As & cousequence, our inarkut was demoralized. Our reeceipts were not larze at the commence- wment of the season, as country holders general- 1y thought that the grain ought to cuinmaud better prives, becauso of tho acknowledged shortage In yleld. But Western buyers did not cara to take thew, aud the oats werw seat for- ward to the scabuarl. The Eastern markets werg soou wlutted with low-grade oats which feeders would uot buy unless they could obtain old oats to mix with them, preferring to use corn. Recelnts here have fullen to a low point, wore thau makiog smends for the lucreased activity of the first six months of the yeas The Erlm of No. 2 hus been pretty well sustal ed, becauso very few graded so high as that but the price of rejected has been very luvl: touching 213gc per bu at one time. The aver- age price of the new rejected waa about te under thst of No. 4 PRICES, ‘The Lollowing tablo shows the montbly range - and the average price on No, 3 oats throughout lhgi yu’{: Zowat, Highest, Average. av 80.¢0 It 1s worthyof note that our market has ruled relatively high during the past five months. Chicago ‘prives have been nhove those of Toledo snd Milwaukee, almost uniformly, which fact has not favored shipmenta; yet the new oats hare moved out rather freely, {u proportion to the diminished supply. = RYE, THOR DEMAND POR RYE NAS BEEN LICHT through the greater part of the year, white the volumo offcred for sale hus been unusually large, making the market an unsatisfactory one to the trader. The volume of receipts fs fully donbled, being 1,401,121 In 1878 agalnat 600,553 bu In 1875. The volume of shipments has in- creased even more, the 1,450,160 bu shipped last year being above four times the 310,593 bu ship- ped in J875. The causo for this great dispropor- tion lles in tho fact that comparatively little rye was used in Chicago, nearly ali the distiller- fes being closed during the greater part of the year. For the samo reason the market has drazged badly, It was very dull during the firat three or four months, as tho distilleries were Inactive, and the flour men held off for lower prices; so that there was scarcely any demand, as specu- lators could seono fnducement to handle it, and prices were lower In the spring than fo the winter months for this reason, InJune a fafr demand sprang up for EXPORT TO EUROPE, under which the market for No. 3 advanced to 73%c. In the middle of that month the trade comménced to buy for August delivery,—starting in at 62¢,—and the purchases probably exceeded 250,000 bu. In July and Anpgust the market recoded to 50¢, awing to the depression In wheat, and the fact of lrge TC. celpts of the new crop, which weighed down tho market. A partfal rfll{ was eifected, but large receipts again broke the market to H8cy and {t then ruled steadier till late iu November. At that time the rye crop of ucrmmf was dis- cuvered to be so short as to requiro largo sup- lies from other places, aud orders were sent here for all that could be obtained. ‘the result was that our bins were neacly cleared out of new and old rye by direct shipments to the Contincut of Europe, and the market strengthened under that de- mand to tho highest point of tho year. It was belieyed in December that most of the ‘¢ visible supply ' of rye In this country was controlled by one firm—dolng busineas jn” Chlcago, PRICES, The following table shows the monthly range and the average prica of No. ~ 3 rye throughout the year: lonth, Lowest, mghul Arerage, Janeary... .68 75 06,70 February.... 074 05,26 Mareh,. as 04.00 63,10 05,67 TOP WAS RATHEL POOR E O In quality, s it failed to ripen pmpcrl{ in mhy ow-grade sectlons, and thereivosa good dealof ryc on the market, This acted as o drag on the price of No. 2, aud, with a lessencd demand for distillation, caused the market to rule very low a8 compared with the previous year, The new crop i3 everywhere spoken of as belog excellent in quality, but under the averago of yield for the breadth sawn, The supply is lgiit in this State, as the rye does not thresh out well, but Lhis 1s more than made amends for by the better yleld of Kansas, Ncbraska, Western Iowa, and Missourl. We have rccently received much more {rom those sections than at any previous time, and they ars materially increasiog the arca dovoted to rye-culture, BARLEY. THE BARLEY MARIKET A8 NOT RECOVERED yet from the demoralization which set In after the panic of 1873, and the character of the crop has not tonded to Improve tho trade. The movement has been much larger fn volume, Thae recelpts wero 4,750,170 bu in 1876, agalnat 3,107,207 bu In 1575; and tho shipmonts wero 2,803,463 bu, against 1,568,200 bu the preceding year. Our market was dull, and dragged badly in the early part of the last twelve months, The cropof 1575 in the Northwest was of poor quality, and the grading of No. 3 was low, which mado it unpopular with maltsters and brewers. On the other hand, Canada and New York had a heavy yicld of good quality, and Eastern consumers were supplied chiefly from thoss sources, buylng mors sparingly in the West than usual; while the Canada barley com- peted with ours in this city. This condition of affaira offered Mttle encouragement to the speculativo trade to take*hold of It. Tho market decliued to the unusually low tigure of Slcin April, which Induced a promi- nent operator to try to make somcething out of {tou the long sidein Alay. But tho resulting corner of that month was far from belng a success, THA CONNERING FIRM were abliged to recelve lnrge quantities of poor stutf, which thoy wers unable to dispose of then, and bad to "carry over lnto the pew-crop {enr at a heavy loss, Butne of that barley, de- ivered here at 03¢, was sent East, and sold there for fced at 40u per bu. The maltaters did not regard it with favor. The new crop year opened with a large stock of old barley nete, u heavy accumulation of old malt in the” East, and a good deal of common malt in this city. The new crop is better than ita predecessor, but stlll poor in quu!lm bay- {ug Leen lujured by bad weather, 'I'he vrop of lnwu‘ 1liinols, and"Wisconsin was badly stalned, aund the consequenco §s that a creat deal of ft 18 ruud {nto thu low grades, Thers 18 much dif- erence of opinlon a8 to the yleld of the North- west in 1570, Some parties who are usually well posted, claiu that thu quantity Is large, but the gunnm‘ opinion of the trade s that it is detl- clent in quantity, The crop waa very frulr marketed In Bep- tember, sud Inspected chiclly as No. 3 and re- jocted, especlally as the standard for No. 8 was sumewhat higher than in 1875, The crop proved to be very deflelent In cholce brewing flule 'y and our brewers, being more particular in this regard than wmost of thelr Eastern brethren, have turned their attentlon to California, bout 400 car-londs (170,000 bu) was received hera aud sold at $1.1521.95 per bu. A good desl al me to 8t Louls, Cincinnatl, and New York, the latter by water, and one cargo of it was recelved here ‘from the Atlantic scas board. ‘The Calllornia crop was larger than in any former year, and superb fu quality. About 35,000 bu of Canada b-rl? was also bought for this markct at B1.17(21.18. Most of it Arrived by lake before the cloac of navigation. Tho Cunadiau crop was smaller than in 1875, and much of it waa too much shriveled ta be At for malting. TUB AUTUMN TRADN in Western barloy was, therefore, nearly as un- satlsfactory as ‘that of tho soring. Drewers and maltsters belog pretey wtlllto«{cd. bought little except the cholce saimples, while the bar. ley camae fu here quite freely. Tio_luw gradey wero chicfly taken for shipment Esst, snd to Canada, where they were used as feed, belng lnfiely inixed with oats, Tho No. 3 has re- mafned in store to be speculated ou, with very fuw Eastern orders, as Eastern con. sumers werc partially :upp]lcd from elscwhere.* ‘The consequence wos & large accuwnulation here on the “ rugeed edge™ of winter, which broke dowa prices to 8 low pofut, from which they vuly pnm:ll;l_ullled‘ and the market bas since suled dull. Tho decllue drought = fow orders here, and our local brewers touk bold alittle more freely, as many were {uclined to believe ih:‘ dtlm bulk of the good barley is already mar- eted. "there was same talk late fu tho Jour of an ex- Bon wmovewent of our Jow grades to Europe, ut it was probably conflaed (o a few cargoes of old sbipped from Eastern storc-houses. Wo note that Fastern dealers Lave regarded our inspection system with distriet, aud Leld aloof for that reason; thouzh the fuspection of last ear was tuch belter than formerly. The No, in Armoar, Dule & Co.'s houscs has been uni- formly a good article, and has commanacd & considerable Htmlnm over that fo other cleva~ tors, much of {¢ having been used for malting, The A,y D. & Co. barley chiefly comes from Ne- braska, and the quality. of tho barley ralsed In that State has been abore the avernge of the Northwest. 5 TRICRS, ‘The following table shows the monthly ranze and the average price of No. 3 barley through- out the year: Lojrest, Ill_f[‘AuL Arerage. 3 7 % 67.10 K0 ‘The quotation for 1870 {s for 8cptember barle; from July 24 to Sept. 30. It opened at m@s‘? cents, Sale was made Dec. 15 of five car-loads of oll No. 2 at 37 vents per bushel, The malting busincss bas heen }wcnml ever since the panle, and It has beon ound difllcult to work off stocks, The market was more nctive towards the close of the year, The sales of beer during the last year wera about un_average, and some brewers fncreased the volumo of thelr business somewliat, but the geoeral movement was sluw. BREADSTUFFS MOVEMENT,. RECEIPTS. Tho followlng were the recelpts of breadstufls fn this city during the past three years, flour being reduced to its equivalent fo wheat in the faotings: nerally de- 1875, 1874, 286 2,625,883 12,660,070 30 24,200,370 20,704,029 3 36,111,150 35, 700, 648 92,054,021 12,010,428 13,001,235 1,401,131 ~'con.pR3 7 4,750,176 2,107,297 Totals ,..07,077,100 81,087,302 05,011,713 . SIIPMRNTS. The followlng were the corresponding ship- ments: J 1875, 1874, Flour, brls. 283,113 2,306,570 Wheat, b 27,834,687 Corn, bu 82,705,224 Oata, bu 10,501, 0% Rye, bu...eee 1,480, B0AD2 38037 Barley, bu,.. 2,808,468 1,808,200 2,401,378 ‘Totals,..00,36,011 72,300,104 84,020,001 CITY CONSUMPTION. Duriog the year there was swithdrawn from storo for city consumption 1,403,027 bushels wheat, $23,660 bushels corn, 818,801 bushels oats, 175,010 bushels rye, and 530,140 bushcls batley. Total, 8,147,643 bushiels. To this should be added fully a8 much more taken from track and recelved in wagons, making not far from 6,250,000 bushels consumed fn the clty. The differcnce between the reccipts and sbipments of flour (305,304 barrcls) added to tho 250,000 barrels manufactured fn the city, and allowanco being made for a slight increase of the stocks {n store, gives about 854,500 barrels of flour as the clty consum Eu‘"" against 560,000 barrels In 1873, ind 558,000 barrels In 1874, GRAIN INSPECTION: The Btate Reglstrar reports the following as the Inspection of graln in this city during the two past years ending with Oct. 31 1876, Inta atore, 1875, ‘Wheat, bu. 10,180,421 25, 87,747 0, 5357 . 2,877,130 TotalB.sieeees 000s0..00,060,410 054,108,458 The receipts of the lnt‘g'cnr came in 122,013 cars, 1,240 canal-boats, and eleven veascls, Out of atore, 1875. Wheat, In . 10,150,400 Corn, bu. 24,717,120 QOuts, du. 5,330,535 Rye, ba. 1,050,323 3,205 Barley, bu. 1,712,042 1, 730 ‘Totals . ++..03,56531,805 51,085,001 The shipments of the past yesr were, by wa- ter, 42,180,410 bu, and by rall, 7,867,030 with u.hu.h-n bt taken for ity consumptlon, ‘These figures donat represent the whole of tho grain sent tp Chicago fur sale in this mar- ket, or tho total taken for clty use. Lnrfio quantities of grain arc sent here to bo sold by sample on track, and a good deal of thiafs takei for city use, by millers, browers, distillers, and fecders. It should also bo remembered that a cousiderable percentogeof (the larger quantitics stated ahovo to be) the ngfrc ate recelpts Is bilied through Chicago, and simply comes to this clty as a point of transfer, uot Leing offered for sale In this market; while no small part of that which is shipped around us Is bought and sold {n Chicago. The following was approximately the inspec- tion into and out of atoro durlng tho past calon- ar year: Wheat, ba, Out of atore, 1, 0 Corn, hu Oate, bit oo A0S Rye, bu 3,30, 005 Barlay, bu. 2,004,505 DREADSTUPFS 1N BTORE, The following were the quantlities reported as in store In the last statement mads in each of the three years named: 1875, Flour, bels 02,700 ‘Wheat, b 2,218,908 Corn, bu 437,711 Oute, hu, 409, 600 007 Rtye, bu, 144,802 10,050 Darley, bn 332,202 320,007 LIVE BTOCK. TNE RECORDS OF TNE UNION STOCK-YARDS and Transit Company show that the volume of inces transacted there during the Centenniat year was fn cxcess of any previous twelve months. The recelpt of shecp and horscs ex- hibit & small decrcase, but In cattle and hogs tho growth of the trade has far exceeded the ex- peetatious of ,the most sangulue. We tind the total arrivals of cattle, hogs, and sheep to have becen 5,600,420 head, or 417,519 head more than reported for any former year. This may not be regarded as a very wonderful showing, for the peopls have lcarned to expect great things of Chicago, and they long sfnce ceused to express surprise at any achlevements of hers in o commercial way; but [t & a very gratifylng exhibit in the lght of the well-known fact that in manyof the live stock-markets of the country the past year's business shows a de- clioe in comparison with 1675. Of all our great markets none have sdvanced with tore regular and gigsutic strides theu has our live-stock busincss, and none are on & muro enduring basfs. Thesccret of Its marvelous growth ls found in the fact that, In addition to the great natoral advantages and superior facllities offer- ed here for the transactlon of the stock trade, the business s in the hauds of live, encrgetic aggessive men. Nelther time, labor, or ex- peuse are sparcd to keep the country shipoer advised as to the coursp of the markel and’ the rise and full of prices. This they accomplish not through the slow proces of the walls alone, but the tel :‘rflph i3 brought Into requisition, and bundreds of telegratns are dally sent out tu !l purts of the West. As many a8 1,500 dispatches have been sent from the Stock-Yards in a stogle day, whils the number sent during the year reaches the fmpos- ing total of 145,000, AL all scasuns of the year the market swarms with buyers, every Eastern clty of any pretensions being represeiited; and thereis at'ull times a sutticlently-healthy vom- petition to insure tho speedy sale of stock at as goud prices as the roundings of the market will ?uull’. As thesc couditions are likely to coutlnue tQ exist here ina greater degree than at competlng points, there ean be uo roasotable doubt that our city will malataln her supremac as the largest live-stock market in the world, During the past eight years the growth of vur CATTLE TRADR hasbeensteadyand unluterrupted, and ithasnow attaloed dimenslons which v years aga the most hopetul did not ventwré tu predict. Messured alone by the extent of the rec the past year's buslucsa was Lhe most sucressful of any known tothe trade, the receipts having exceeded by ncarly :so,lm head the largest vumber ever previously reported; but, in poiut of fact, tho season was u very unsatisfactory oue both to shippers aud feeders. In common’ with most uther artlclus of commerve, the prices of live stock were subjected to a steady shriukaze, and the year's busiuces was accomplished at u luwer n\'cr:\&u ol prices than for any vear since bfi;ru the War of the Rebelilon.” Tus scasun optucd at 837%26.,00, from which polnt the udkrket steadlly receded uutll the beglunlug of Apnl, when the Lest cattle ou the mas- ket sold at 8475 During the latter part of Aprit aud the fist week of May ricas recovered to 3.23 for cholco X eves, but they soon !cl{”fi! to $4.78@5.00, sud lute inthé season to $1.604,750. During December tho narket “picked up” a littlo, —clmwunmlom for cholto grades bolng $5.00@! ‘The depreclation in tho upper grades was much moge s¢vese thaw in the com- mop and medium qualitics, as the dcmand, more thaa ever before, has been forcheap bect Thus, while the former have averaged fully #1.00 por 100 I8 lower than for 1875, the ahrink- age In the latter did not exceed LX&ihe. Iix- vepting Texas, which has furnished fewer eattle thau 1n 1875,there was o materlal inerearn in our receipts from the States west of tho Missourl Colorado, \Vyomln{(, and Montana alone fur- nished between 3,000 and 35000 head, while Utah, Oregon, and the Indian Territory also contrlbuted to swell the grand total of our_ receipta. Thess extreme Western cat- tle, or half-brecds as they are generally termed, have rapldly grown in” favor, and thcfi are now given tlio preferance over native atocl of the same weight and flesh. The Bulk of those recelved here during the past season wers taken by local butehers and packers, And In this connection it {s proper to state that the work of bLeef-packing amil beef-pressing has been carried on durfog the pnst season much more extenaively than for aeveral scasons pre- vious,—tha number of cattlo thus disposci of reaching about 70,000, Another branch of tho :’r(-ldc‘ which shows a healthy increasc fs tho rect TXPORTATION TO EUROPE. Tho firat dircct ehipmenta from this market to the United Kingdom were made In 1874, Dur- Ing 1875 the ninber so ahipped showed a con- siderable amount, hut prior to the seasan of 1876 the busineas partook largely of an experimental character. Now our direct trade with tho old country is catablished, and apparently on o permanent basia; the re- sultsof the past scason’s yentures having dem- onstrated to the satisfaction of those engazed in the traflle that the busincsa can becarried on at a profit. The chofcest beeves that the mar- ket nffords are taken for the European market. The veasels engaged In this trade are supplied with refrizerators forty fect long, lwcnty—d;ihl feet wide, and nine feet in hc!Fh in which the carcasses arc placed. At ono sitle |8 an fce-houso contalning forty tons of ice. A blower, run by a steam-engine, direets acurrent of cold alr from the lee-box on tho meat, * After landing In Liverpool the meat {s run to London hy car, and to prevent its getting dirty tn handling each quartcr is bagyed or wrapped in cotton, and the beel 13 thus delivered {n - excellent condition. The shipment of DNESSED DREF by rafl to tho East fs suming larger proportlons. Duflngl the regular season, from Nov. 15 to March 13, the annual shipments now exceed 60,000 carcasacs, Tho bulk of this beef goes to the river towns of New York, and to the manufacturing districts of Nuw England. each year sa- 11008, In comparlson with lsflsbothu arrivals of hogs exhibit an Increase of 293,000 head, the number being 4,206,010 head, against 8,012,110 for 1373, ‘The shipments on the contrary show a marked decline. This 18 accounted for by the large in- creasc in summer packing, developed here dur- tho past scason. To feeders and shippers in nlg:u the year was nprosperous onc. The de- | mand was at all times equal to the supply, and throughout the year tho trade was in a healthy conditlon. Prices, though showing n somewhat lower averago than for 1875, wero maintained at n point that {nsured o profitablo roturn to the hog growers; and, taken all in all, the senson must be recarded asamong thie most antistactory that tho trade has ever experienced, In formor yeurs, between the closing nnd opening of the regular packing scason, the Eastern trade along was depended tpon for the absorptiun of the dally receipts, and In the absenca of a heéalthy comuetition valucs wero often unduly de- ressed. Now thahusiness of packing 1 active- 5 presceuted the year round, ond Western ship- ers find In Chicago, at all scasons, quick sales or thelr stock,and at as bizh dgures as the surroundings of tho market will warrant, Of the past year's Increase no inconsiderable por- tion must be credited to the territory Iying east of us, From Indiana and Michigan e have re- celved more than four times 88 many hogs as In 1875, The arrivals by the six Eastern Roads for 1976 wero fully 182,051 head, winle for 1875 they amounted to only 38,000, The year opencd at $0.80@7.80, but at the be- ginning of March had sdvanced to $7.80@8.50 for commmon to primo grades, while for fancy lots much higher figures wero pald—in one In- stance $0.75, on March 4. From that date the market. ;:m((umll{ declined until the opening of the regular pack n‘éucmn, when thequotations wero $3.23@5.85, Prices have since recovered to the extent of 73¢ per 100 3bs, the year closing at 80.00@0.63 for comimon to chofce. SHELP, The rocelpta were 64,102 head leas than for 1875, but were in excess of 1874, Tho market for this description of lve-stock had no distin- wulshing features except tho remarkablo steadi- ness that characterized values durlng most of thoscason. For good to choleo grades tho mar- ket was_uniformiy,favorable to scllers, ns our :;xpplv ‘gr {at sheep'rarcly cquals the legltimato cman The subjoined tables were compilea from the records o theotlice of !lmSerrctnB f the Unlon ecember, tho Btock Company, and, cxeopting figures arc ofilclal; nreRiPTS, Quitle, (B Novembhe Decenber Total, e g w7 w1 27,208 1,853 2040 0,10 e 2B 40 A24 2 0eA 381 Y 333 1340 150 MAT Tatal .0 793,004 110,700 104,402 Q703 Bhipmonta for 1IR3 03,170 1,841,813 240,08 11,100 Bhipueats for 1474 10,354 3,324,727 170,051 16,001 TUE MONTIHLY AVERAGES of hags received for the past five years were aa follows, Deveinber, 157, being estlinated: ¥ T R - N T Y U 23 P 2dat 211 b FrI R w0 TENR T 27 17 jook 28 0. 0 24 24 a3 298 amilg s o of cattle, hogs, and sheep siuce tho opening of the Union Stock-Yards Liave been as followst oty Joge, | Sheape Toial, g, thig 573 200,420 1,433,257 237,850 Loy ¥ 27 BB 1,70 int 03 DIRECT TO EUROPE, BXTORTS. The following were the dircct exporta of prod. uce from Cbicago to Eurupe on through bllls of Jadlog, durlug two past yearas 18 7 1873, Flour, brls 47,4 80,767 Wheat, bu.. 1,300,081 2,445,641 Corn, b 1LOTNGIL 703,070 Oal 43,000 Itye, bu, 60,000 Barloy, b 43,000 Provislons, 'fon 78,000 , UH8, Mlscellaneous, tona. Grand total, tons, OTHER PRODUCE. RECEIPTS. The following were the recelpts of other articles of produce for the past throe years: 1878, 1873, 1874, foedn tona. ... 15,000 200,178 100,148 5, A0S i 713 1550 SHIFNENTY. Tho following were the corresponding ship- ments: 1878, 1874, Seads, to0s. 3,74 2i6i8 Bro-corn 6,300 waTt Butter, toos. 5933 Ruio itided, tor 27,63 24:30 Mitghwines, bris. 1BLHD NLDIT Woul, tous. A5, B4 1:)‘.:" HIGIIWINES, THE MARKET FOR HIGUWINES has been unusually stesdy, and unusually dull, during the eutire year, with littla excoption. Thoe great majority of the distillers werg under bonds early, and sowe of them fu jail later, which scriously interfered with the production in this uity. Only three distillerics were running up to sbout the 1st of August, when two ‘moro started up; and there were nioe la tuoning order towards the closs of thé year} which were producing ab: ut 630 brls, or 40,000 gallons, per | Monntains the crop was_eat at mo.mo' day early In December. The production being small, A good many orders were flled tn Peorin; buta considerable percentogo of those wines were sold heres The market In this city was most decidedly depressed by wines made in Cincinrati, the price there befng, singularly enough, below oura, most of the time, though corn costs much more in Cincinnatd than in Chiengo. It Is mentioned, 100, as another singular fact, that while the re- turns made to the Government have {ndicated a much smaller production {n Ohlo than {n Il nols, the sales of the former fn the East, and clsewhere, appear to be much tho largest, This, with some other features In the trade, tends to mako the wholo thing what Stephen Blackpool wserted tabe true of the world of menand women—**aw' a muddle.” ‘The volume of salcs s aleo reduced by the fact that our distiliers now Ilrficly usa the con- tinuous ‘\mfl:su, by which the finished goods arc produced without™ the Intervention of dealers between the work of distilatlon and rectifyine. We note, toa, that some of our distillars ‘have recently sent their product directly East—ille ing the orders of conswiners without the aid of 8 broker, ‘The total sales of the first cleven montha of the year, as reported by Kilian Bros., were only 20,055 brls, making about 32,700 brls for the entire year. PRICEN. ‘The following table shows tha monthly range and the average price per gallon of tax-pald highwines throughont the year: Lowest, Ifanest, 0 .00 108 Arerage, 07. 60 Boptember .. October November Tecember Year ... 1304 1875 1,104 1874, I 1.03 The Board of Trade figures in regard to th movement of highwincs aro_scarcely 8o eatlsfac- tory as coulil be wished, and chielly beeanse it hes hitherto been found almost finpossible to obtaln the statistics of the movement ol cruds wines, apart from other forma of splrits; and It {s aifficult to eatimate what proportion eitlier heara to the whole. The fleures sametimes fn- dicate that the city’ consuinption exceeds the roductlon here, which 1s mnnucsn‘y incorrect. he reported totals of receipta and shipments for the ‘rcnr are given in the table preceding this article, DAIRY PRODUCTS. TNE COURSE OF THE CHEESE MARKET lias been disappointing. At no ecnson of the year has the market displnyed tho vitality of former years, and fn comparison with 1875 a de- creaso in salcs of fully 10 per cent s reported. The demand from first to last was of o hand-to- mouth charazter, and, with a supply constantly in excess of the legitimato trado requircinents, prices wero Kept ot a lower range than during any previous seazon since before the Rebelllon. Paradoxlical as it may appear, the canso of tho decline of the chieess trado of this clty is found in the rap!d growth, within the past two years, of tho dalry interest in the West. New factoriea have sprung up in all parts of tho interlor, and country dealers and consumers, and thus afforded an opportunity to buy thelr suppliea “at their own door"; and this they aro now doing more generally than over beforo. It Is not heyond the bounds ol reason to supposc that Western merchants will oventually get almost their cn- tiro supplies from locs] manufacturers. Not- withetanding the rather unfavorable exhibit of thopast scngon's business, tho futurcof the trade {s not wlithout ecncournzement. Tho emwlng favor which the dairy- products of the West aro meeting with among Eastern and European buyera {8 a lopeful featurs of the market, The direct export moyvement hns al- rendy assumed very fair proportions, but if our obbers would maintain the positlon Chicazo as attalned ns the sccond most fmportant cheesc-dlstributing poiut in the United States, they mnat give n morc carnest nttention to the promotion of the dircct trade with Europe, Tho post 2cason was more than ondinarily FAVORADLE YOR TIZ DAIRY INTRREST, and the production fn the West of butter and cheess was in excess of any former scason. Prices of cheese have ruled iz8e lower than for 1875, reaching as low a fizure ns e, while the averago for tho year will scarcely cxceed Il The only violent ffuctuation was Iu theearly part of September, when, under the influence of a speeuintive *fluery,” the qrim ju‘n!‘ped up 5@ 4ewithin a spave vf twoduys. This was tho most pronounced advance that the commodity wus ever sublected to In 8o briof o criod. The quantity of cheesa remalning n the hands of factorymen is much 1 ninr than in past years ot a corresponding od, and that fact will militate ngalnst any advance oyer present prices, which are now nearly 1c higher than at the close of 1875, TIUE BUTTER TRADD throughout the scason was in an exceptionall henlthy and prosperous candition, Althoug] our recelpts were much larger than reported for any previous year, arcady outlet was fouand, ‘ond at unifornily good prives, tha avarage belng conslderably higher than for 1873, The healthy character of the butler trade was due to tho existence of alargely-increased oxpors demand. The chief increase fin the export of buttcr has been with_England, Germaony, snd Scotland, where wo furmerly sent scarcely any of this article unlesa dirlng sensons ‘of exception ally bigh prices therc and low prices here. ‘The recelpts of i';b%'%f in Chicago during 1876 were about £3,250, gatnst 12,000 8 In 18753 and t"lu receipts nucrfl&,hsl,l&l s, azulnat 80,213,247 s {n 1 SEEDS. TIMOTIIY SEED. The spring trade in thnothy was only falr, but tha old crop of good eccd wus nearly exhausted when new sced began to arrive. Tho crop of 1878 was probably tho largest ever raiscd In this couutry, aud the quality of tho sced was fair, though a good deal of it was dark; but tho pro- portion of foul sceds was unusually small. The market opened fu August at $2.75 for prime secd, and, although the homo trade was large, prices constantly de- clined under the enormous recciptsuntil they reached $1.00; when on active export demand sprang up, and the market railled to $1.95722.00 in October, subscquently receding to $1.70@1.75, About 100,000 bags wers exported, partly direct from Chlcago. Timothy sced hrsbeen lower than since 1863; and, counting the cost of trans. portation, lower than in any year since the trade assumed much magnitude,” In some scctions the quantity of sced Ju farmers' handsis re- orted to bu conelderable, while In othiers little I'Teft buck, "Dl stock fn stare af the close of tho year {3 about 20,000 bags, ogainst about 80,- 000 Dagzs o year ago. The ayerage price of falrto wlme timothy for 1870 was §2.07. ‘T'he averuge lur prime In {575 wae $2.45. ., LOVER BEPD, Clover has beefiin good demnand, chiefly for export, and prices ruled higher than in 1875, un- der moderate recelpts; the two last crops belng light, A good durol sced was exported direct, usually to Great Britain, from this market, The Eastern demand was smaller than usual, The crop of 1876, besldoa being very short, was poor in quality; sud the high prices have induced partics in soine sectlons to adulterate the seed before shipping it, much to the injury of the trade. ‘Eurly inthe year prime clover sold at $8.55@9.70, declining fu May to 87.75, then ad- yanclog to $0.75 o August, alterwards ranging from $0.00(39.35, and closing at 83,75, Tho av- ;"fl;’ price of talr to prime sced for 18570 was 8.0, UUNGARIAN AND MILLET. The trade in Huogarlan snd millet was rather light, and prices for the former were lower than since 1661, " The market for Hungarian was de- pressed by heavy reccipts and the large stock carried cier from the ceraerof the previous year, and prices run down to 25c, the “averagy 'rma ;bfll 43¢, m numd'u Pl;fcnn:vu A ot sold at :nsz ;, averaging for the season s)0ut 47c. The last cmpfi uilletpad Hyn- arfan is reported to be very ight 1o all sce- {ons, and recently a speculative demand has developed, which has led to a slight advauce fu prices. . FLAX 8XED, Flax wasvery low, the aversgo price for good crushing to primae sced belug about $1.20, Old sced auld at $1,25041.43, and new fruin $1.159Q 1.50, clusiug ut $1.40@1.50. The warket was depressed early Ly lano ul!cr(lel of seed, thy crop of 1575 ju both India aud the United States being heavy, sud by the extrems dopression of lluseed ol sud crushess, having o large stock of seed on hand, were thoid about buylug. Wuaen the new ur;r begzan to come forward the demaud fmproved, aud as soon us it becawe kuown thut the Amcrican "“Eowu slort and that the fmports werv Ukely to light » brlek Eastern trude sprang up, aud prices rapldly ad- vauced, local markcet closlug frm, with most of the crop probably warketed. . The estimated acreage sown in flax n 1876 was 400,000 acres. West of the Allegheny bushels, which fs 1,000, 1,350,000 bushels fess than the productlon of 1873 Ohio and In- diann produced n good crop, but In Wisconsin, Minncsota, Nebraska, Knnsns, and_Missourd it 5 not exceed two-thinda, and In Illinols only about one-half, of a full crop. In’ the country near Chiengo flax was a faflure, BROOM-CORN. TR REPORTED RECRIPTS were aver 7,000 tons, and the shipments 5,800 tons, The trade was very largeat a lower range of pricos than in 1873, and In a mensure satis- factory to dcalers. The demand was chiclly fromn manufacturers, who bought freely in the early epring, and tho Eastern trade was untsually heavy in the fall, the low prices and freighta Inducing &Enstern buyers to stock up liberally. Early In the year old corn gold at'$50.0072190.00 per ton, weaken- ing in April; and in September when the new crop began to arrlve, prices ranged from $60.00 @120.00 per ton,—the cholco grades of green hurl advancing subscquently to $130.60@140.00 per ton owing to scarcity, About 2,000 tons of old corn was carried over In the West. Tho' market closes dull, . The new crop was probably the .emallest ralsed since 1869, In tho West the acreage waa reduced 6,000 acres, ‘The crop promised to bo of EXCELLENT QUALITY but the wet weather during thc harvest season injured tha corn, causing It to turn red, and, ex- cept in Kansas, very little green liurl was pro- duced. The Hlinols crop was about 4,000 tons of low and medium erades. The crop of Iowa and Nebraska was smaller thap In 1875, Kansas ralsed 1,000 to 1,500 tons of broom-corn of supe- rlor quality, mich of it beinz fine green . Ncn:‘y all'the Kansea crop {8 mnflé‘erlc(l. h"IJ‘LIo Oulo crop (s estimated at 1,000 tons of medium corn; and the New York nm‘? at 1,000 toos, tho production In the Mohawk Valley heing larger amd the quality of the corn better than gur 8Cv. vral yeara pasf. Prices have ruled so low that the brovm-corn crop of 1875 was probably not very prolltablg to the Western farnicr, except in ‘l)\tnmfi ;’i’llcrn Iand iaflclm‘p :hmd a8 tho quality crop was superlor, it brought th price In the markets. gL tho higuoet WOOL. TIE SEABON WAS A BURPRISE to everybody. Early in the year tho outlook wasgloomy. The woolen goods market was dull, with manufecturers carrying heavy stocks, and it seemed probabla that prices for new wool would open very low, and tho season drag well into the winter, But the immense auction sales of woolens at New York in the epring rolleved manufacturers, and they commenced buying, taking the bulk of the clip in the first three months of the scason, but at lower prices than have ruled slnce 1860, The market steadily advanced in tho summer and fall, but tho farm- crs had generally sold too eany to get tho benefit of the rise. Some of the heaviest Eastern monufacturers have atocked up for two years. Tho movement of manufacturers was so sudden that tho speculative element cut a smaller figuro ~than usual untfl towards tho middle of the scason. In the summer a good many short sales, or contracts for futuro doliw ery, were made In Boston. The scason closes with the WEST NEARLY CLEARED OF WOOL, and 1t 18 doubtful If the atock lcft s sufflclent to meet tho ordinary wants of Western manu- facturera till the next clip. The quality of the cllp of the Northwest was good, and the quan- tity probably aslarge as usual. About 50,000 pounds of old wool were carried {nto the new scason. Old washod fleeco sold in January at B3(42¢, dccllnln:iln the Trlug to 8033, and to %8¢ In June, New washed flecee apened at 256i28¢, and advanced to 85@3%c, Unwashed sold from 14@=28c, and tub wools at 85@43c, More Colorado wool was haudled {n Chicagoln ~ 187t then fn any previous year, and this city bids falr to bo the great distributing centre for the wool of that Stale and the surrounding terri- torlea. ‘The Colorado wool has been creatly Im- roved I quality, having gained In strength of bre, and moro care is taken in sccuring It and, owing to some pecullarity of the climato, it is freer from ofl thun the Eastern wools. Colorado wool sold at 18@2c, The quantity of Call- fornfa wool sold here fs fncrcasing, but the bulk of tho Pacific coast receipta wero _transferred liere to Enstern railroads. The Western consumption of wool, which is large already, Is incroasing, and In tho winter months um{ucnl market 18 fna measuro Inde- endent of the Enst, and prices aro frequently l;iher rolatively,—the demand belnz almost cutirely from Western woolen manufacturers, HAY, AT THN BEQGINNING OF THE YEAR tho market was very dull. The crop of 1875 ‘was heary, and badly stained by the rains; and thera was little outafde demand for it, the local trade belng supplied by the neighboring farme crs. Prices were very low, and the business un- remunerative, Tho crop of 1876 was an nverage ono in the West, and was securcd n excellent condltion. Blnce the now crop began to move there haa been a very good Eastern demand for timothy hiay, which, however, was hampered by the scar- clty of cars, and has since been partly checked by the advance in rall freights. In soms Zsce- tions of the Enst the crop and pasturage were shortened by the drought, nccessitating thae fecding of hay earlior than usual, and, owing to the low prices and frolghts, tha Weatorn ship- pers found 8 market in New Euvglaod and the seabonrd cities, Tho nllapclior quality of tha crop of thinothy also made it popitlar, “and all grades bavo been equally salable for shipment. THH THADE IN BALED PRAIUIE has been light throughott the year,—the botin- tiful crop of tho farmers near ihe city enabling - them to kccl]) the local trade fn~ supplles, and the shipments have beon minall ‘The lamber and Liake Buperior districts re- quired o small quantity of hay fn tho fall, The given rm:llnln and shl Jvmcmu do not give an accurato statement of tho magnitude of tho husiness of local houses, 88 very are ilicd by sending the hay dfrcct from coun- trystationd. New :Jy opencd at lower prices than bave been reachied for prohably fourtcen years, and farmiers have realized lttls from the crop, and tho profits to the pressers thus far have been sinall. Timothy hay of the crop of 1875 sold at 83.60@14.00, and prairie at £6.00@ 11.00. New timothy has ruled very steady at $8.00211.50, and pralric at 85.50(13& per ton. Bince the riss in freights No. 1 timothy do- clined to $10.50, with o very light trade. ors, Q THR MOP MARKET WAS DULL durfog the firat cight months of the yesr, the demand being spastnodic and chicfly of a retall character, the largo consumers having stocked up in the previous fall, and hops of the crop of 1875 sold at 8@15¢. The new-crop year opened in Beptember with the market greatly excitod Ly the prospect of a large expors demand, the crops in Europe belng short, especially i Ger- many, and the home production .wss also re- duced, the estimate belng 140,000 bales, sgeinst 150,000 bales §n 1875. ‘This, howevyer, loft about 40,000 bales an avallable for export. Theaver- age quality of the American crop also was Jow, tho proportion of choice or exportable hops be- ing rather small. Hencs, the market opened many orders very frm, and as dealers, expoit- ers, and speculators began to buy PRICES RAPIDLY ADVANCED 10@1234c, the of ning tigurea for good to cholce hops belng 25@80c; but (u the latter part of October the foreign demand slackened, the quality of the American bops not betng eatlrely sutlstactory in Gerinany, snd, as¥home brewers have abstalned from bu‘lug freely, tho markot closcs very dull, with all of the early advance lost. Recently the lower prices have “attracted Eugllsh orders, aud there {8 somne pmlmcl that the export demand will revive atter the 1st of January, The exporis from New York from Hest. 1'to Dee. 25 were 16,407 bales, spainst 13,- 2i8 for same tmo 1 1875, aud sloco Jao, 1, 187 were 42,897 bales, Wisconsin produced sbout 18,000 bales, or onc-third of a ¢rop, . The local dealers bave bandled more Eastern hops than usual, and 8 fow from the Paciiic States. Sowme of the local brewers purchased fafr supplies {n the fall, but the trade fluuurull{ is buylug from to mouth. The lo:al recelpts, cxclusive of tho hops that wero transhipped o arrlval, are esti mated at 23,000 bales, valued at about $1,100, HIDES, DURING TOB FIRST PART OF THE YEAR tue market was very dull, and the depreesion bid falr to continue through the season, but i August a brisk demand suddeuly sprang up, sod - the Lusiucss of theJast five months was V(¥ satlafactory, proving to be the salvation of the vear. Late in the summer thohome demadh