Chicago Daily Tribune Newspaper, January 1, 1881, Page 10

ae ae Aantal item compared with some others, Tt Waa-tucessary to. biy wp all: the “regutar pork at other patnts, ineluding some 511,000 brs at Cincinnati, to sell pork at adiscount to shippers) whieh run all the wei from Lor per orl indiuty to £5.25 in October, to ship enormons qtantitles of meats ab ¢@le por th below the cost of production, and to bit Wp oon nearly 1,000,00 hogs in order “fo retain” control of the market. It owas tridy a} auammoth deal; and probably contd not have beén conducted to a xuccessful Issue but for the enormous demand for lard and meats which oxisted during the time the deal wag in progress, ‘This ennbled the engineer of tha deal to make a yast quantity of the pork Into “strips,"—nt one tle about 8,000 bris per week,-—and the stock was worked dowtt fo not a faree quantity by the timo that new pork came on the market in Novem- ben new product has since piled up rapldy, nearly 40,000 bris having heen made. in one week, Tecuntly, In. the absence of 0 demand for meats at the prices asked by packvrs. It now tooks as if we shall have 80 meh pork made this winter as to nec asitate another “deal? for the purpose of getting rid of {t during the coming year The market wenkened badly Inst month, unter a toss of confidence dug to ine creasing stocks, whith was supplemented by bearing on the part of some packers, who thought there would be money in the opera. tion.” They had been bears ever since the close of the October corner, but there was 90 intch spceulative investment that prices kept up till the market broke in sympathy with tho heavy down turn in wheat and corm, LARD HAS HAD A HISTORY of Itsown, At tho Opening of the year we had about 100,000 tes on hand, whieh ine erenseil to 240,000 tes In Mareh, at which ting there were nearly 500,000 tes In the United States, ‘The quantity here decreased from that point to a little over 7,000 tes two months neo,” It has since Increased rather rapldty, Twelve months ago a large partot our lard was being earrled anes Keene and a few other speculators." "The others” sold ont in January, which depressed the murket badly, thowgh Keene held on A little later he owned about 180,000 tes, one half of which was taken by Armour, in May, At about Shido, and held off the market, Keone sold the remainder in July, for duly ond August delivery; and ft’ was tmostly bought by the foreign trade, being shipped to Europo as fast. as it was dellvered on con; tracts. There has not since been any “deal” In the article, unless one be in progress now, of which there Is sume suspleion, ‘The mar ket dunng tho past few mouths has ehlelly varied {n syimpatliy with pork; though in the Intter part of Noveinber there was aconsider- abio exeltement over the report that the cure rent run of hogs was yielding several pounds less per head than the average. ‘The runior was subsequently ascertained ot to haye a very strong foundation in truth. The fact of very biy stocks enused utd to Tange.very low as compared with ments, during a large part of ‘the re In Augitat and Septamber dard in) paeknayes averaged $7.80 pur 100 Ibs, while for those two months loose short ribs nvernged n little over Se per Ib, Then the senlo turned, with tho advent of “better times,” which favored an iim: mense increase inthe — consumption of lard. It has been widely supposed that. the manufacture af “suine” hus absorbed Inost of the surplus. ‘This Is scarcely tru The sousuin pliant of Inrd has otherwise t ly doubled sines the hard times previotts to 1879, ‘There bas been ay Increased demand for off to lubricate machinery, for. Inrd-oil to burn in front of locomotives, for salad ail by those who Inherit the tastes of Southwestern Entrope, for shortening ot pie-crusts, ete. by Aterfcans who can better afford it now than, formerly, and for other uses “too tedlous to mention,” including the “hoeeake” of the South, which has been rendered possible by good prices for good crop-ylolils of cotton, sugar, and rite. “The smallness of the sup- ply has kept lard relatively dear the greater art of the Inst two months, as may be seen yreferenve to the average monthly prices given below. ‘Two or three weeks ago the Sens were mostly held) by refiners, making the article relatively searce on the market. ‘This encouraged the packers to Increase the production, and some of them have recently tanked about everything except the hans, which has tended to reduce the difference in prices between lard aud inent, ‘Lhe market for meats les depended large- Jy upon pork, 1b was quilet during te win- ter in proyordlon to tho maguitude of the supply, but ever since ther the demand lias ‘been ‘netive, and often wnusually so. With an fumensely Inervased production—nearly 749,000 nore ho; Mer than during the same time In 18i— stocks worked wh to almost nothing by November. ‘The stuek of” short ribs wis about 42 million lbs in Mareli, 22 in May, 15 in August, and less. than 4 oimiltloy Ibs the middle of October, ‘The movement was really a surprise to the trade, Except PD, Armour & Co., the packers generally put themnselves outside the business of sipply- ing consumers, ‘The others. made short ribs and sold them to thet firm for future dell ‘This was tho rule all throwzh the sea- + Prices went up and down some, with a yarying speciative movement; but the ments kept going aut, and towards October there were often not enough meats obtain. able to fl the orders unless the buyers would take lots not suficleny well cured to minke slipinent a safe process, ‘The market was NEVER so THONOUGHEY pra of product in ony formyor Fr var. All klids of stuil wory wanted. ‘Tho lumber regions of Canada anc the northern part of the United States took lnrger giant ws Of pork to supe ply with winter food a. greatly-Inereased. Munber of workers. ‘CheSouth and the East ern States have also consumed more, with reawakened uctivily I Southern fics and Northern factories, But much the greatest. drain ins been weross the Atlantte, ‘The peo- ple of Earope bave wanted much more than ever, before; one marked reason belng the deurease in home supplles, owing to bail weather in 1879, A litte ere than a year Ago the livestock of Germany (Hbh ud * Low Duteh) was killed off by the owners for Jack of feeds nnd the meat was se abundant for some months Unit it was suld more ythan the beet and bacon sent from ited States. Duteli hams, whieh had previously commanded Si percent more. than Amerienn, sold last winter in Antwerp for loss Han those sunt from Chieago, When this home ment was gone, there wis all the Anore ruoin for ours, twit f more rapidly than ft could be supplled. Amoriean tard had been held fn big stock all over Western Europe to about nu yenr ogo, our low jaices having tempted to speculative investment. ‘The’ denmiuid for (hat inereased with better. thes, and before the less ot ‘Aut oO: here wero aware of it those stocks had melted away, and our own stocks soon dhiintshed before the revived European demand, ‘There was ver * little of our pork tuken In Earope, Indeed, a few lots, sunt aver there as a venture, found thelr way back ta thy United Stutes, ‘Tho people of the Old Workd do not. take kindly to pickled pork; but they will con. suing uptold quantittes of our hurd and salted tients, If atfered at prices whieh they can uiford to pay, Atnerican ments and Jars are nlso grow Ing rapidly in favor in tho British Isles, and » when we say ** Atnerlean,” Chicago must bo Upderstood, for last yeur, at feast. ‘The Rteat bulk of the productlon of the whote. country has Hterally been owned In this city, and has moved under orders. from partles here. ‘The live stock of Great Britain Qld pot decrease so much ay thutot the western halfot tha Conthient of Europe owing to the bad weather of 1879, | ‘i'lie live- atock returns of Ireland show a big de- ‘orease. Wo inay note here that whenever wo get down to about de per Ib for live hogs in the West, as we have done recently, the tendene + ey in Burope bs to decrease numbers, because Io people there cannot compete with us, foading their stock lurgely on tmported mn- terlial, ‘Tha higher prlees for hogs, whieh have recently vrevalled here, favor an ltt , Crease there, and asinaller demand for our products, ~ PRICES ON PORK, . he following table shows tho monthly - Tange and the average aprice of cash ani eerie nant ness pi throughout the Tawwest. Highest, Average, iis Sitone Bist” bess Oa te WIT rime 100 RAG aa CS. me AY iw. Las 810.0) BiaL Fre at 8.8 1305, By lng wd PAD sree \ -; PRICES ON LARD. , 23 bung killed here just stum-- twas goon wanted: ‘The following table shows the monthly range and the average price of priniw steamed lard throughout the year: Lowest, Highest. Average. batt ee R20 840% BBS "8 TH ab waits ian} 0.08) 115, aid fins am 0 lz M6.75 1.15 wee. BAO 15. seeneee PRICES OF MEATS. The following table shows the monthly range aud average rico of ensh short ribs, loose, through tie year: Month. Lowest, Higheat, Average. Tauunry + S05, S00 80.50 pany W2RNg Maral Glass Oar April BSS May. on) OM 0.05 720 Ostober., Novermbo: Decembe: Shoulders hava ruted flat during a great part of the year, ‘There was not only no specttintion In them, but they dragged even ns an article of coustimption. For this reas son they ruled relatively low; the average price belng only G4 per cent of the price of short ribs, whereas tho percantinze Was 72h In 181, Loose (try salted shoulders sold nt § the first hnlf of January, dectined to S05 In the dast Wale of April, advanced to $4.5 In the middla of July, and foll back to abot S285 in December. ‘The average price for April was £3.82, for Septamber $5.23; and for the whole year 24.834, against 83.50 for 1879, ‘The range for that year was $240 in January to $4.55 In Deeember, RECHT, The following were tho receipts of pro- visions and dressed hogs in this elty during three years: Beof, pkgs.. Pork, Urls. Ments, ton Lard, tons, ‘Tallow, ton: Dressod hogs, No 1879, 4 Tiyntht O10 104613 SINPMENTS. ‘Tho corresponding shipments wera: T7006 NOL OTT OSH Tobe T4008 81h TAKES 155,510 1:22, 162 Te B,Rh8 40,024 26,00 sTOcKs, ‘Tha stocks of provisions on hand In this ally it the close of the year aro estimated ay ullows: Old pork, bris.. New pork, brig. Lurd, tes... Menta, tons 8 P. hums, tes. Othor pkgs, tons, 6,000 5,000 4,500 ‘Tho exports of sions fram Chicago on through bills of: lading to European markets during the twelve monthsending Nov, Lwere nbout as follows: 1579, 1878, 15i00 40,844 1870, 1878, },000 if Meats, bo: OS5,000 AKNOST Lurd, tes, 270,000 28200) ‘The total shipments of hog product from tho elly during the twelve months ending Oct. SL were about $10,000 brly pork, 393,000 tons ments, and 129,000 tons lard. WHOLESALE MEAT TRADE, The development of this braneh of Chien- go's wholesale trade has been quite as marked us that of othor lines whero the bust- ness, 1s is tha ense with meats, Jy largely lo- cal, Some ides of its present importance may be gained from the sales for 1880, which reach the linposing aggregate of $13,500,000, To do this business 0 enpltal of $200,000 Ts re- wired, and émiploynient given to 150 men. fhe sinalluess of the enpital as compared’ with the volume of sales seems small, but it must be borne In mind that (paradoxteal as it may appear) in tho wholesale ment trade there fs no “tend stock," the hooks belng cloared every day. Fourteen firms ure en- Bored in the business, Asa rule they are men of brains and nimple enpltal, and they keep prompt step with the growlng reauirements of the city. ‘Tho past season hus been a qnore Uinn ordinarily: prosperous one, the Josses resulting from bad weather and bad debts probably having been less than for any previous ene within the past ten. Prices, tov, huve been characterized, by more steadi- ness thin in most seasons of ‘the past, an, taken allinw, the year lias been an eml- nently satlsfactory one, ‘The prospects are that the receipts of beef during the present winter will be imuet less than the previous one, as the carly setting in of winter badly sentiered the herds on the plains, and tt will not be possible to get them together to the extent tnt Chicago will derive much benetlt in a way of receipts of careasses from that quarter. The following figures closely approximate Ts sales of meats at the wholesie t on Weal Jackson street, near tha Pork, bri: Careansea, Value, 20d 85,200,000 300,000 3,500,000 500,050 0,000,000 20,000 600,000 1,100,000 19,600,000 FLOUR, THE MARKET For FLOUR has beon very much more active than In any: previous twelve, months for several years past, and has ruled steadier, thongh it has necessarily moved up and down in sympathy with the yarying prices of whent, Reduelng bags to thelr equivalent In barrels, the re- evlpts of the past year were 3,377.55 bris, Against 3,960,058 bris In 1879; and the alip- ments were 2,903,450 brig, agninst 3,090,540 brls the previous year, ‘The movement during tho first six months. of the year was about 20 per cent less than for tho corresponding thine In 1879,. The de- ficloncy was partly compensated by tho In- crensy {ft recolpts from the new crop, which was very large -during the fall Neltherot these ficta Is, however, a gauge to the mag- nitude of our trade In flour, which has grown largely,—reversing the rule of some former years, A great deal of flour now passes direct through this clty, and tine has been that much of It was ordered direct from the mills by consumers, without the interven- tlon of Chicngo dealers. This phaseot the business sprung up some half dozen years stiee, but apparently reached {ts maximum ubout tio years ago, ‘There wore dilticulties in tho way, some belng {n the matter of trans- portation, which more than offset the com- unlssion, ‘Chore fs, however, a saving In tho avoldance of “handing and storing here, which Is to 9 gruat oxtent now taken advan- tage of, ‘Thosamples are now ilsplayed on -tho flour tables on ’Change, and the sale ef- fected before the flour has left the mill, and. often before the whent fs turned Into flour, ‘The shipment {s thon made direct; some- times through the city and sometimes around Total. .oe vey ‘The inerense in our recelpts fs largely duo tothecnhanced demand for winter wheat flours; they have beon generally cheap as compared with spring, because of tho specu Jatlyo excitement in'spring wheat, which has kopt up the prico of the latter duriug the greater part of the year. Wintora have becn’ in very good export demand, and buyers have takon the better grades frovly at: about 5@ 60c per barrel above the prices for spring, ‘Thoy have pald.as high as $7,00@7.25 {qr winter patents for export, Our dealors handled a goo deat of Colora- do flour In 1870; but much Jess tast year, The reason 1s that the rapld development of the Weat has created a demand which leaves Mitte to be shipped castward, ‘The same Is truu of Nebraska flour to a consldornblo ex- tent. .We have received a areat deal from Kansas, though that State is also shipping much flour further west, Our trade fu St, Louls flours ing fallen olf iwatorlally, because buyers aro sativfied with winter flours they can obtain elsewhere. We have, how- over, drawn more Jargely from poluls be- CHICAGO TRIBUNE SATURDAY, JANUAKY 1881—-TWE. rf fond St. Louis than in any formor year. evernl Missourl mills now ship all their flour here fustead of senting it to St. Louls, as they uaed to do. ‘This was fostered by the fact that there has been much less of dls. erlmination nalnst this elty In the matter of freight rates on tho nore Southern raltroads, Very largo aituntities of Minnesota, Low: nnd” Wisconsin — flours have been sold here to go direct from the milly. ‘The most notable feature of the trade, however, Is tho springing up of a big business in MICINGAN AND INDIANA FLOUR sincg last harvest, Its estimated that neat- ly 250,000 bas (175,000 bris) have gone forward from those States within’ the past four months on orders from Chicago, A large proportion of thts has gone to the United Kingdom, and was mostly sold ata named price at the mill, with Chicago freight rates, ‘The hustness was generally dull Inst winter, and mritee eth about Juno 1. “The next three inonths there wasn fate trade, and [t started up briskly about fourmonths ago. ‘Shomove- ment was netive til the Intter part of Nu- vember. It then tell off, on account of higher ocean freights in nutdition to higher, rates by rail; besides which, frolght-roomn was scarce, Inaking ft ditlenlt to forward flour that had been ordered earlier In the year, Spring and suninier rates were mostly on tha basis of 50c by all rail and 40¢ by Inke and rall, During tha last two months thoy have been chietly Goe by all rail. We note that the rail blockade of a month ago was In no sinall degres due to tho pressure of flour which had been sold ahead. Millers sold vast quantities about harvest thine, and sinco than tnost of them have been two or three weeks behind contracts. They have proba: bly ninde more inoney during the last four months than ever before in an equal Jength of thne. ‘Tho following table shows tho differonco hetaveen prices of the lending grades In Jan- wary and August, which were the highest and lowest poluts of the year: Juntary, Doublo fpeing Oxtras., .BI.HGNN0 Hxport tlours, Winters... Standard patents... Bpring supers, fo arnde., lye flour, Buckwhw 5 OB bee seese Buckwhent flour hug recently ranged at $5,005.50, TadTana winters, 1n October and November, sold nt $4.90005,00 per_brl in export sneks at the mill, with Chiengo rates of frelght. Very fittle flour hus been sold by grade in this niarket during the past year, contrary to the expectations of those who nuitated a couple of years ngo for the establishment of standard grades, People on the other side of the Adiantic have cot into tho habit of ordering flour. on samples; and Insist on their being: copled so closely that it {3 often diteult wo fill an order from more than one ail in a manner satisfactory to the buyer. Our system of flour Inspection bas worked very well, 0 far as satisfylug both buyer and seller on the current of trading; bat many partics In the business think that a radical change ig hi lily desirable now, and will svon be recogaized as a necessity it wo would retaln our speculative trade in tho leading cereal. ‘The illling capacity of the West is increasing at sucli a rate ng to threaten, cre many yours are gone by, to absorb nearly the whole of our whent, leaving very ttle of It to go. to the Enstern States, or to Europe, in the berry. Already the nliling capacity of Min- nesota is nearly canal to her production of wheat, minus the quantity required for seeding, and other States are copying tle example, Ibis belleved that our Bontd of ‘Trade might profitably take a hint from the unjust steward mentioned in the Gospel, who suid: “ Twill nuke to inyself friends of the InaMMoN of unrighteousness, so that when these fall they may recelve me into thelr houses.” Itis proposed to establish here a comprehensive system of, tlowr-rrading which ean be used asa basts of SPECULATIVE TRADING IN FLOUR instead of wheat. Thu proposition is to es- tablish: grades of patents (hard spring), ‘Two grades of eholee baker's, Xtras wud double extras (springs). Fine and supertino (do), Four grades of soft springs; and: Four grades of winters, Some of these grades to be made to con: Jorm as closely as possible to present Canada gratings, tho latter meeting with great favor Ii Europe. ; Under such a system the leading grades of BOSS ATG LTS. 1.50 flour contd be, and undoubtedly would be, , speculated in largely months ahead of pro- duction. ‘The millor could sell: by grade and buy the wheat with which to meet hfs sales, thus insuring himself againkt lose, and pro- viding for constant work In seasons when he would otherwise bo idle. ile would then find it to be ta his advantage to trade In Chie enco, finding a market near home, whieh is the truest policy for all, partles not speciatly cnenged iu theexport trade. orelgn orders would then come here for flour cargoes, as they now come for whent cargoes; nnd the surplus energy and surplus cash of the country would centre around tho trade, acting as tho flywheel docs with the steam — engine, ns treservoir of bower, to take up. feniporany excess of activity and distribute [t over perl- ads of dullness.” ‘Lo make this effective wo should, however, cease to refer to the “bare rel” of flour as ‘our unit of mensure. ‘Tho Inost popular package at prosent Is tho baz of 140 pounds; and that should be adopted os the unit, unless wo are prepared to take wp the cental of 100 pounds asthe basis of trading, ‘Thehatter would probably be much the best. ‘he barrel is now obsolete ag nn. export packages and the bag ts mipidly grow- Ing In favor with the Enstern trade. Tt rides better In car and vessel, and fits better into the pantry than the barre! does. Can we not drop the barrel, #3 tho temperance people would ive us abandon the bottle? As Beer- balina night put it, “hero Is a pause” for a reply, A tndical change hog come over. tho flour. mill within the past fow pears, ‘Tho new- fashioned mill now crushes tho,grain be- tween several suecesslye sets of rollers, in- stead of grinding itbetween French burrs. ‘The result of the first crushings is about 60 ner cent pitent four, whieh some mills divide {nto first and second patents, A cone tinuation of the process gives fn auantity of +t Is Known as clear flour,” ‘Thut which fs aefpls again divided Into bran, iniddlings, ete, and a lower grade of flour, soma ol which has been aptly termed “red dog,” from the: number of minute pare Heles of bran {t contning, ‘Tho Intter ling recently been In extensive export de- inund, being used to mix with forelzn tours, Itmakes very good bread, the braw bung a healthy constituent of tlour, and only «ls- Mked because it detracts from the wiilteness of the product. ‘The rollers are now being Introduced futo flour-mills all over the West. AS fA consequence, there 1s at present a lack of permanence in grades, which sone people think ig fatal to the plas of grading for a speculative market. It may, however, be urged with much force that the present Is a very favornblo tims for instituting such grates, agit will bo leas trouble to settle down into uniformity naw Cin If the effort wero deferred tI the millers have had thine to nda) the nov process to tho making of individual brands. WHEAT. TNR WHEAT MARKET hag again been very active, and vory Irrogu: lar, “As the one market which is watched and patronized by tho great muss of apeculat- ors, it has ebbed and flowed violently, but seldom been quiet, Prievs have not ranged so low nor quite so Mgh as durlng 1879; and the market has been less spasmodic, excopt, perhaps, durmg tho earlier months of the year, ‘hero was probably a greater volume of trading than fn any previous twelve month, though the moyoment of actual whont was inuch sinallor, owlng chiefly to a Dig falling off $n recelpts from the last crop, ‘The receipts of tho yearaggroguted 23,319,080 Du, agalist 84,100,109 bu In 1879; and the ship ments werd 23,114,808 bu, against 81,000,780 bu the provyious year, These are the totals of the returna mandy to the Board of Trade by the rattro ads and tho Custor-louse, ‘Tho footings of returns by the Grain Inspection Department, showing tho moyemunt by car- Joads, ete,, are given jn a subsequent col- umn, ‘The receipts of whent from Aug, 1, 1870, to Jan, 1, 1880, equaled 20,531,063 bu, and from Jon, Lto Aug. 81 Inthe past year, 8,001,160 Du. Total, 20,234,223 bu, against 31,704,510 bu the previous twelve months, and 23,827,800 bo for tho year ending Aug, 1, 1873 Our receipts from the crop of 18% were tha Jurgostin the history of the trade, except nen fon the grou of 1873, which aggre- tanh 35,138, te . aio murket ruled higher thah the specie avoraee of: former years, During four months out of the twelve quotations ranged below 0c, but were above $1,00 during the Year, “A tory larga numer of people. wero year, A vor' n 0 disappointed In ‘tho expectation thas prices ywould never again rise ns high as ony dollar for No. 3 spring wheat in this market. ‘Tho crop of 1870 was a large one, and preceded by two other years of wheat plonty in the nited Slates. “For this reason there was at ona time sich a decided dhajority in favor of low prices that it was rank horesy to take the othor alde, ‘Tho Enstern papers. es- ‘pecially jolned in with European Writers about) — wheat in predict- ing that we would have toa imnuch wheat by about — 135,000,000 bu, anid crying out that the only hove of tho WVeatern farmer lay In rushing his wheat forward 13 {st as possible, {ub overy ono. new knows that the yleld of Europo has again been a Poor one, ‘That of its western countries, ont chict customers, was miserably teficient in 187; and that of Russia, our chief compati- tor, was ditto In 188), These facts hie duced on widespread return of confidence here, and the inerensod abundances of capt tal nlso favored higher prives, ‘The promise ofa much Digger crop thin ever for bur Inst harvest falled long to keop dawn quotations; and, when ft was found tint there had again been a huge overestimate, the nuttin boom cae and swept the beara before it Wke ehaif driven by a strong wind, It 1s now well Known that tlio market was largely CONTHOLLED HY JAMES KEENE during tho first tive months of the year, Ig had taken hold of it In October, (87, nt about 0O@5e, nnd was followed by numerous “tasters in buying up everything that was offered. In the latter part af December, i julecs tushed up rapidly under the betlet that Keene was going to corner the market on full elevators, We then hal about 7,600,000 bu in store, with a bie vistble sug Hy at other points, Tho market tonched #1387 on tho 2oth of December, and then fell back. 1t was discovered int Keene had been selling, Ile had really got rid of nearly atl his wheat, elearing fully one million’ dollars on tho operations of the fall and early winter. Then. began .the first break: of the past year. It stopped at Sti oon the Sith of January, About this fimo Keene, and those who sere following his lead, again took hold. ‘Tho result was another upturn, the market ranging near $1.95 the Inst week In Febraury, during which some of the “tatters” sold out, Under this pressure occurred the failure of the syn- dicate in Grind Rapids, Mich, They lost) about &3W,000,, mostly on account of short wheat, after a big gain on the long side in the preceding year, After this excitement there was lithe change tii! Saturday, March 6, when tho market turned “down,” ‘Tho’ following ‘Tuesday: the “ecliaue” changed a great deal of their wheat from April into May, which 1s believed to, hase been done in concort, under a recently-tormed conlttion between Keene and thethree or four Glilcare men who had hitherto followed hin. ‘The result was a break of de in the price for April, and tho establishment of n 8c premium on May delivery, which had prevtnusly been discounted 4c, In Aprit tho price of May wheat deellned to SLO, and the ellque bought very large quantitles at abort $1.07, following the market up to $112 Lb went up to SLA9@1,20 for May, and the clique salt all the way down from that point to $1.14, ‘They sold’ out the enormous quantity of TWENTY MILLION NUBIELS on the down turn, and closed the month with no future wheat on the books, but with the ownership of nearly all the spot wheat in sight. ‘They weru obliged to take care of very large quantities of whent, and did so without loss, though some outsiders lost heavily in following the lend. About #,250,- 000 bu of wheat came in during the month of which nearly 600,000 bu were recclyed from Milwaukes and Uncine, By this time tho country was nearly bare of wheat, and some 200,000 bu of hard No. 8 was after- wards sent back from this clty to supply country mills before the new crop was ready foxrind. ‘The rest was held off the market hore, and mostly shipped direct to Liverpool, where a great deal of it hind been sold durin thosprlng, toarrive. {t [s known that muelt better prices wore obtained for ft than could have been realized hore. We have it on good tuthority that the “ worst” sale out of: the Jot wag one made in Juno whieh netted $1.00 ver bu here, ut the thie our morket- was down i the nelghborhoud of ce. So much of the wheat as hid not been sold up to that time. was held for the reac tlon which enme Inter, and this poliey enabled the Keonu party to get ont of the whole deal (autumn to stimmer) with a little proitt, though it was. widely ‘stipposed :to have netted 2 loss of some $3,000,000, Jt is Delivved that If they had made spot whent plentiful Instead of scarce, using it ns a means of hammering down futures, the re sult would have been much more profitable, ns tho sequel proved that the whent was all wanted." ‘Lhe rumor that thoy grew short of cash and closed out sooner than Intended fs pronounced false by the party who conduct ed the deal here, ‘Tho future was henyily discounted durin May. ‘The last day of the month June sold at wife, and July at O3¢e, with spot at SLI3 @Lu. For about four mouths afterwards “THE DEAR FEELING PREVAILED, From June 1 to Supt, 30 the price of spot whent, avernged about (1c, it was pro- elalined that our wheaterop would turn out soine 550,000,000 bu, with a full outturn in Europe, which would leave us at tho open- Jng of next harvest with 130,000,000 bu of old Wheat on had, und that the inarket would go down toe. Some people tried to stop tho decline. but falled; and a local firm Jost about $00,000 In the attompt, ‘They havo more than made that loys foot since tien, In August tho tnarkot went down to 804fe spot and 83e seller the year, From that polit the tide-turned, It was found thot tha wheat crop of the United States had been over- stated, that of England harvested In bad Weather, und Russla reported to be buying in London. Our farmers wero not willing to sell at such low prices, especially as they yomembered that those who held off n year proviously reallzed the best tigures. Added to this way the fact that tho weather In the Northwest was not favorable to carly thrashing, and whon tho farmers did get ready to sell cars were very searce. Tho market touched $1,00 Oct, 15, nud averaged about that figure during the remaindor of tha month. On Noy. 20 spot wheat touched $1,124, and from that point tha market fell off, na It was found that speculation lind enr- tied us tot polut 100 boven Stipa basis to New York, and 2@2{o nbove Milwaukee, ‘The sharp advance hat heen largely due to buying on orders from Wall street, ‘They were atimulatud by the fact of small recelpts hore, In December there wasa sharp break, on which most of the outalde longa sold wider, a ploratstent piling up of stocks here because of relatively high prices, and reports that vessels werd being ehartered to carts, con siderable quantities of wheat from Odessa and Buvnetupol to Western 1s europe. A weok tizo the market had settled down to about a shipping basis, after a xovera run which caused tho ausponsion of three lending firs, and Aoverely triod the fortitude of many othera, Dec. 34 February wheat sold at v4g¢e, bolng the prico of nearly three inonths pre- ylous. Iv fsnoteworthy that whent hag paid car.’ rying charges ever slnco May; not always enough to give a profit on carrying, but ren erally sufilciont to give a healthy tone to tho market. PINCER, Tho following table slows the monthly range ant the averngu price on No, 3 spring wheat throughout the year: Month, Lael. Mlghest, Agerapes SS Augu Reptenl October, *Old wheat auld in August at 020, ‘The following table, complied by Tonry 8, Frink, Esq, shows the Jowest and highest prices for apot wheat in thls market from 1858 to 1870, We pid for 1850; 5 eat, epee 2OSSy Jan “ats; Led oes not Appear probable that tho whe Durlng the lnst twenty-three years tho mar- ket. hna ranged lowest In theseveral months as follows: January, fiyo times, vies ISH, 280, 782, 770, and 27; February, wher, viz? 1859 andl 1872s Maren, orca, In 1864; June, once, in 1861; July, onee, In 187d; Auguat, five tines, viz.t In 1803, 96%, 271, 77) and 804 Septombar, ance, in 1873; October, twiee, fi Asrt and 78; November, {wico, In 1363 und'73; Deemer, whee, In. 1860 and 9, During tho santo tlino the highest point of the year has been touched fn the several motiths ag follows: dannary, twice, in 1865 nnd "804 April, three tines, viz: In 1800, ?74, And 73; May seven (nites, viz. In 1859, *6t, A, 07, 08, 73, anal "773 Jung, anee, In 1870; July, dnee, fu (97h: August, four times, ylz.? 3 December, mes, viz.t in 70, and 70, : se ae it may be interesting to compare the epecte prices of wheat {n this clty fora niimber of years past. They averaged nearly as follows: dear. Prices Year, Pri ire, prico of $1.0034 per bu, and this is not specis ayornge of the past twenty years thowch ft was down to avern , Th 18 and ISU, One ariny, {nfer from this that a Jong continunnce of prices much below $1.00 now ean only be Justified by extraordinary circumstances, TUE WINTERWHEAT MATICED hing been but 2 poor one, notwvithstauding the efforts of prominunt parties to make ita Jenllng feature in our trade. Chicago Is not regarded tn Europe ng a market for winter wheat, aud orders for {t chiefly go to other places; whlle orders that have been sent here Were often filled at other points, the wheat belie forwarded direct without eoutlins here, ‘There Is little desire to specuiate In the nr- Uuele, the disinelnation being perhaps due, In part, to the fact that Northern grown wheat is made regulur for delivery on contracts, Shippers have | dlscrimitinted rather scvorely against receipts in houses which recelve from the fren north of Clilen- i . They say that such wheat ts harder tian tho other, and thorefore not deslrable to mix with it for grinding. Some oxpertssay, how- ever, that tho trade would not be mtich im- proved if the rules were changed in this re- apeet; though they adintt that the Nebraska winter wheat isnobetter than spring. South- er grown red winter wheat Is ustinlly sup- posed to be worth 5@0e per bu more than No, Sapring for milling purposes, It has seldom commanded such a premium; and has often heen discounted owing to the speculative de- mand for spring wheats, In tho Intter part of April It was discounted Ge, May 8 do 7e, and at the close of May it soli nt $1.03, when the settling price for spring, sold to be deliv- ered in Muy, was SLL Itsold at 1¢ premi- tun on the first arrival of the now crop, June 25, and at 3@44oq premium the Inst part of that month. The lowest price was 8)c. ‘The following table of prices from July to November, inclusive. may be of interest for eoulnarlsai, with the prices ruling in the regular whoat market, Lowest, Highest, Average, Cas A aaa OL ‘Of MAT cy m 200 1.08 (8.10 deveee cool OL§ — L103$ 1.00.50 ‘The trading .in December was very small, but tho discount large. No.3 red was wt ono thine nearly de below the price of No. 8 spring, averan|ne 16 below, whilo If averaged 19¢¢ above from July to October, inclusive. No, 3 winter Ins Renerally commanded 9 promi. um of 8@5¢ ubove No. 8 spring, but some- times much more, It hos been taken rather freely by shippe ME OTA WHEAT * wns formerly an {mportant item in our mar- kets, It ents very ttle figure now. We received consldoruble qnantitles Jast spring, nud 2 large part of It went brek to the coun try during the summer months to supply mills in sections that had been swept bare during the rush ‘to. sell everything in tho shape of wheat that could be got in hore in May. When It was announced that Minne- sota had raised a crop of 65,000,000 bit In 1880, it was oxpeeted that we would receive large quantities from that crop, becatse the Pelle of the Chicago, Milwaukee &St. Paul Rall- rond wna tndorstood to be favorable to bringing {t here on more ental terms than formerly, But it. has .stice been discovered that that estimate was nearly 30 per cont above the truth, which means that Minne sotn ling scarcely nny surplus wheat to ox- Nort except in tho shape of flour, ‘The mill- Ing capacity of that State Is now very nenrly equal 6 ee cre aot punnospolls cess now erlad abgu 00,000 bu of wheat per year, arid tho ther parts of tho State as inuch inore, ‘Tho milling enpacity of ‘that State, of Wis- consin, and, Indeed, of the whole Northwest, Is fust incrensing. It grows inore rapidly than tha wheat production, | “Thoy ” aro building new millsevery where.” ‘This is tho great reason why our recefpta of whent are falling off, Itequally aceounts for the «de- erense In the whent receipts of Milwaukee, and threatens to reduce the whent trade o} (hat clty much more than that of Chicago, ‘This fuct gives tho reason why so many of the far-sighted merchants of our sister elt fre removing hither, or opentiig branch houses here, ‘They want to cateh tho trade that comes to this clty from the section fur- ther south, and hope to participate Inthe trade in corn and othor fam, which at pres- entis more threatenes by the Misslssippt route than by lncrease In the number of flourlng-suills.- It snow looks -as It the MIl- Waukee of the future will find its profit, In- sido tho flour-saek instead of tho wheat-bin; and Chicago merchants may find It necessary to Took In the samo ilrection, Thoro is certainly some reason to fearn further decrease in tho volume of wheat sent to this city to find a market. Illinois iy ine ereasing her production at present, but chicf- ly In winter wheat, in the Southern part of the State, and that augment Is ely to scak tho out-olf routes to the senboard, If not tho water-way vin Cairo, ‘Phe grain of Southern UMnots has Jong been more Strange tous than that of Kansas, oreven Missourl, Lowa has hitherto sent us a. grent deal of her aur- plus wheat, but probably will not increase hor Yield, because the land ‘offers: such superior advantages for corn-growlng and grain, dt nt pro- duction of Minnesota will increase moro fapldl than her milling capacity, and Duluth. in holding out her hanas for tho wheat to be ‘own Inthe future along tho Ine of the Northern Pacific Railroad. But there Is op- portunity for controlling the wheat product ofall these vast avens, If not for handling tha wholo of it, in Chicago, It is no exaggera- ton to aay Uhat not. a bushel tins been moved from any point in the Great West dur- ing . the — past year without — refer. enca to tha prices paid hore, nit very much of that which hag moved around 103 has been forwarded on direct orders front this city. A considerable proportion of the wheat received In Milwaukee during Inst year was shipped out on orders frum Chi- cago. ‘Chere wasn goo shipping basis for wheat frow this city most of the year, ‘The autumn boom carried us relatlyely high, and sinca then the market lias been generally against shippers, Must of tho wheat of tho now crop hns gone to New York, ¥ We have stated elsewhere that Now zor has retained a place In the wheat export. trade chicity by means of THE MIXING’ POLtoy, nth ‘This practico {8 thora railuced ton “science” unknown In the West, and, wo may add, in possible In the Weat under present cont. tions, It is now notorious that the wheat utyped from Now York as No.3 spring is barely better in quality than. our No, 33 and there is & proft. in polling it av lo por bushel below the price at which our No, 3 can bo . lal down on the seaboard, ‘Thisis the reat reason why New York rain morchantsnominally under sell thoso of Chicago during a largo ‘part of the year, tis truo that the requirements of New York Inspection into stora ara nearly equal to ourowny but the out-Inspeotor re cel ves orders to muko up 0 carwo equal to 6 uivon sample, which he does wixing In- forlor wheat with the good, and the wholo fs aluscribed as equal to Chicago, when It is nothing of the kind, ‘Tho grain dealera on. the othor side of the Atiantic are now Rware of this, and are srilttine to pay ® Hboral pro~ mium for wheat which fs known tobe: Ohi- cago Nu. A large Proportion of the wheat accumulated by “tha clique” last winter was sold at special rates, tho sane boing svoral cents per bu aboye the current quo- tations in the- Liverpool and London mar. et, Our lower grades have been. in food de mand throughout, and have largul gene forward for the purpose of talxtng at Bulfato or on the seaboard, No. 3 hins sold up well, except when Nu. 2 has been boosted’? by speculation, In January No, 8 soll te per bu below the price of No, 2, but qu of thig differenco applied equally to the Nu, 3 which could not be pliced In store, wud, therefore had tobe suld on Ite merits, No. 9 also ranged 18@10e ter bu below No. 3 during tho recent speculatlye boom; but this was be- cts te Not yes sony 100 above. alt Ux ort busls verpoo! an e i ica ut which Itcould bo shipped to Now ‘ork without loss, TUE OOP, e ‘The Agricultural Bureau ab Washington ives the following n5 tho wheat product of he States namie. Aren do, neres... years was avout 1%, he neréuge of winter wheat is nearly 4 per 1¢ following are the (ofllctal the wheat acreage of millions and tenths: and the erof yield of wheat 1p soverat past yenra; with the nnaual Including flour, for the year ending owing June 80,and the home con- putnption, seed, and waste, in milllons of ) oalinintes of e So: SHES miish me Sis eS 1: fet sts Tho * consumption” Is the crop minus the exports; and this, af course, Includes the varying qunutity left over. a each crop-yenr, Jf any, crop of 1879 was pretis thne tho new crop of “visible supply” at the close of ‘was only about 15,000,000 b ‘Tho wheat of the well used up by the bu, with a small quantity fn farmers’ hands, ns everybody who contd sond wheat here We had_t crop of 480, home requirement o and seed would leave nbotet 200,000,000 bi available for export in whentand finn, ‘The : PHOBALLE WANTS OF EUNOTE for the current year have been variously est!- inated.” The avora, ives about 120,000, ited Kingdom. Franes wants sonia 42,= bu, according to offtelal: figures; but export some to ILotland, Belgium, and Allowing for this, the Dee, 6 gives the following for the current crop-year, in millions fn May di so, 46,000,000 for bri British estimates eficlency for the Vestern Germany, London Mf Uler o: Export Surplus—Unlted States 188, Aus- ty nnd Southenst Europe, Russia 18, Austrafin 12, Canadas, Hei palit a, Egypt4, Algeria 2, ONS. Imports—United Kingdom 120, Germany 16, Toliand and Belgium 1 and South Amerlen 13, pitt Portugal 4, West {nd ‘Total, 260 mill- France 15, Ceutral Witzerland 6, Spain ies 4, Capo Colony4. ‘Theso figures show a ble surplus of 69,000,000 So far, then, as we can 8 with the ald of estimates which arenot likely to favor tha exporter, it appears probable that tho Untted States next July will have barely 5,000,000 bu more whent on hand than a year TIM about three weeks azo It supposed here that Rus: 80,000,000 bu country actually an importer of wheat Inst nutimn. But taken was not large, and was ly wheats which were low-priced else It is now stated that Russin has a Inrgo quantity to be sported In the spring. On the problematleal yoluma of this sur- plus hangs the question of our own. dMcult, however, to see Unt there has been any serlous overproduction in this country, or in the world at large. parent that forelgn bu: moore to do with the d they had a year ago, and thera is ,renson to regrot that t¥o'mue! vember “foreed to make shipment impossible exeept at 2 was a piling up of stocks carly in tho winter which may cause serious ombarrassment to tho trade before the opening of navigation. 000 bu of our present large visible sup- alling off in tho export inovement on the crop of 1850, a3 compared with that of 1870), The exports of Russis have averaged about for tho last four crop-yeats, 1,000,000 bu for fifteen. years. relative quautiticg furnished tothe United that country and the United States have been upproxtinately as follows: trike ‘the batnnee, After export" ‘ers have nv great deal ctation of prices than Htion here in No- ply represents 9 United dtussia, States, - Mr, S, W. Tallmadge, of Milwaukee, glves the following estimate of the wheat crop of the world in 1880 In million bu (we reduce ils figures for tho U. States 480, France 820, Russia 20, Germany 180, Spuin 120, Itaty 115, Austria-Hungary 15, Australia $0, Pure Algeria $0, Bel Canada 25, Ewypt 10, Portugal reces 6 Servia 6, Sweden aud mark d, Switzerland 8, nated at about 1,750 nited States contributes + yery nearly one-quarter: of tho above total, Subtracting from the erop tho quantity re- auired for seed gives tho real gain. quantity we consume almost precisely one~ nlf, ntl export tho other half to feed tho people of othor countries, S. by 10); United 115, United Kingdon key 0, Roumania TIE MARKET FoR conn hag ruled highor In price, and exhibits v tremendous increase In the quantity passing through the city, Tho recolpts aggregated 05,340,165 bu, ngainst 64,530,331 bu in 1870; and the shipments wore 01,011,913;bu, against 61,209,370 bu the previous year. ‘The volume handled was nearly 50 per cent greater than that of 1870, which showed tho bigest rec- ord of any year in our previous history. Corn has been-so plentiful during the past twelve months ns to stagger the faith of oven the mostsanguine bullevers In'lts value, But tt has held {ts own wonderfully woll,” belug cven steadier than othor grain, and moving forward almost as fust as recelyed with clock-Ilke regularity, ellned only 17 per cont fromthe top figura in Janunry to the lowest point of the year in Juno, while wheat and oats declined 35 pér cent in the same time, Strangely enough, too, thoro is Ittle to describe in this vast movement; there were buch slight varintions.in the flow of the motister current, as almost ‘to leave nothing to say. Ono is remindod of the gentloman of whom 1 was sald that ho hatno featurcs— only one, and that was ‘a smile all over his face.” Of course such big recelpts wereonly possiblo with a blg crop, and that of 1870 was qwuch the largest In the history of the West. And there was less of rnllroad diseriminn- tlon against us than in some former years, ‘Theyo was no carrying of grain at such ter- tibly low rates ag to boat the water route in though Inke rtes wore tathed through tho sea- sop of navigation, The Mlaissippi route has bean our chict competitor; but corn needs té shipped in superb condition to pass wn- med through the-over-surcharged-with- mblaturc-atmosphero that overhangs the Spirit of the The price de- point of cheapness, tolerably well mal relat room while tho fast sentence being written.! A great deal of corn drawn hero from tho Southwest, as in hme provious years; cnougli to wore than ake amends for the draft on Wastern wa to supply the new mining regions, and ero was not relatively go much galing past on the cut-off nes, A BIG CONSUMI'TIVH DEMAND * - rough the.year, ‘The revival of our wanufacturing Industries hure and at the cost, with a fallure of the Eastern hay and hat crops, caused an inmuvuse tucreave Jy ‘There has been tlomestia requiremonts, while tho rapid doe velopment of gliicose manutactire added to the demand, ‘Tho requirements of Europe hove been fmmense: so birge that It ls dinl- cult to sea low they can be much further Increased without an dugmont in carrying. capacity onthe ocean, ‘That-lins been well occupled all through the years sometimes severely taxod. ‘Tho torribin harvest do ficlenclesof Western Ettropo in 1870) dit nok lead to a inateriat change tn hnman diet from wheat and rye to corn; but tt did aug: ment the demand for corn for feeding Ive- stock, and open the eyes uf Kuropenns to its value for tho purposes of brewing and distiiing, ‘Thora was also less competition from Danubian corn than inmost recent yenrs; and so aur malze found its way into Meillterranean ports , where it had previous ly been astranger. It was probably the an- Ueipation of thls result that Induced the formation of . A CORN SYNDICATE early in the year, which has practically cone trolled tho market since then, and nctually shipped about five-clghths of all the corn ‘that left this city, besides buylng and selling much of tha remainder, Indeed, for montis together they took about all tho current offerings, so that othor parties who held ship- plug orders were obliged to buy from them. ‘There Is reason to belleve that this party:lind to handle “a great deal inore than thoy bare ealned for,” espectatly In May. when the re celpts were about twice ns large ns in May, 18M; tho reeefpts of the Inst weok of the month (1880) nlone being 4,031,080 bu, But tho magnitude of tne operation was such that they were ablo to control water freizhts, hot only on the Inke, but also on the Erie Canal, and partly on the ocean, It may be estimated that thoy exerelsed o repressive effect equivatent to an averize lessetiing of tho cont of transportation to Lurope, of not less than Se perbn. It would probably be falr to assume that tis represents an added | inducement of 2¢ per bu to tha consumer to | buy, and of te por bu to the producer to sell, | An this elty, : 3 THE MARKET Y ‘was Irregutinrly wenk during the firat threo months of the year, with as Ug a stock in store ns contd ho made room for among the crowded wheat bins, aud plenty watting to come tn for Which there was no room, ‘The rail movement was active, the superior qual- ity and condition of the new aD inviting o large export -trade, especlully as prices, were low, compared with wheat. ‘This induced “a | good speculative demand ab times, but. it wns alwors met by free offerings on recount of well-stocked erlbs in the country. A prominent tirta took {aria quantities for Muy, and there fs reason to think that the chlef hope of profit, Iny In the prospect that the elevators would be too ull to tnke In the corn offered, which would foreo tho shorts to fil by purchasing from tho longs, as corn is not regular unless place: in store, ‘This proved to be tho casé to soma extent; but the operation did not pay. ‘The | season of navigation opened early, and the corn was inken out so fast that a great deal more was received into store than had been expected,-'The deal closed at die (whieh. was nourly d¢o below the avernge price for | the month), with only about. 900,000 bu un- delivered. “Later in the yenr It was pro- posed to try tho same tnetics, but the de- ; klred cadperation could not he obtained. Since May the tmarket has chiefly moved up and down in sympathy with wheat, the daily changes belng greater than usualin recent : years, though the monthly range of prices was inno cngso n wide one. : ‘The speculative clement was yery bearish in July, owlng to the prospect of a magnifi- | Lene Srete and on the 10th seller the month was 34a bolow the, pricy, of spot corn, thera being a big demand-for ‘the Inter, Theres was little change In the: market from this tilt | about Aug 1, when it wits rumored that the | growing frOP in’ Missourl, Kansas, Indiana, tind Southorn Ultnols had! suffered severely from drought, With the news camo severnt« buying orders from tho sections referred to, ; and prices advanced some. in conseanence, ; Dut not much, ‘The news was generally dis: eredlted; and it was widely urged that [fh there was any damuge it was funy compen=4 sated by the Increase in corn nerenge. Still the news of danage came in, and about Sept, 1the commercial columns of Tue Truuxea contained the following: «| a “'The gist of numerous retirns fd tothoef- | foctithat Nangag-and Nebraska will notihave enough.coru this..year for thelr own con- + sumption. Missourl will Inve Just ‘aboub, half as much corneas Inst year, Town will’; have about 80 per cont of the crop of 1871, | and Jinofy aid Indiana not more than 60 percent, ‘Phis willbe au Important fallin off, several thes more thin our exports 0: Inst year, and the relative scarcity may even aTuct th hoy yleld of 1881 to a considerable extent, "This was succeeded by reports of very ox- tensive aaa se from frost, which was get eral over n Jarge part of the corn belt Sept. 13, But this, azaln, was not inuch heeded, ‘There was no material decrenso In the vol- une Of our recelpts, and the bedrs argued, that this showed country holdérs dd not _at- tach. any: tinportance to tho report. Tho market did rule higher In September and October, but.the adyance seemed to be “mostly beeause of tha rise in wheat, It was stated, however, that. vory. Ittle corn came in that had not previously been sold to arrive. ‘There was a change carly in November, For the four bushiess days following the 4th of that month the re- celpts of corn were legs than those of wheat, and the receipts thereafter ruled smalior, though this was partially due to a scarcit! of transportation facilitins, ‘he price grad- ually crept upon the small supply and In kooptag with the wheat boom, till the Tues- dey before Thanksgiving, when May sold up to 493Ze, the highest point of the years ‘the noxt. day a well-known proratas depressant the auotation to 48q¢ by selling about 1, 000- bu through sovoral brokers ira few minutes, ant the Eiaricet fcradnally fol ays syne pathy with whent, Mayse a (c Doc, Ay with spotnt Se, PRICES, ‘ The following tablo shows the monthly Tange and the uvernge prico on No.9 cori throughout the year: Lowest, Wighest. Avera . WR ee 4 1 a0 Agtg oo% ag aly 4 : By a a me ra ri wr + = Gong oT ‘The old crop was such a big ono, that, In gplto of tho Imuiensa movement from first hands, there was yet a great deal loft behind when the now was renily to move, and the new crop dragged comparatively, Sxeap ng it was used on the farm. ‘the surplus of old. will not probably make amends, however, for the now undoubted deficiency of the new. ‘The full extent of the shortage will probably not be discovered tll spring, when the corn, is freely shelled from the oribs, ‘Thore is good reuson to bulleve that : TRE YIELD 18 Poor . in Indlana, Missourl, Central and Southern linois, Kansns, and the southeastern part of Lowa, ‘Pho yleld.in the greater part of: Jowa 13 a good one, and will jprababt bring the crop of the State upto that of 1870, It Allnols the corn Is good, what there Is of it. Bone of the corn of Towa will probably hiqve to go westward, ns it Is bellaved that Nebrags ka" has not ralsed’ onough for home use, Parties In the. trade any that the corn trep, of 1580 was injured by drought, not by frost, and: not by tha August droughs either, » “They say there was mofsture enough {ny the spring to start the corn growing, but ~ the grount was thoroughly sun-dried before it was covered by the leaves; wud the rine which preceded ‘the frost came too lata to of much service, Tho hot weather ripened - a great deal of the corn prematurely, so that the ears did not dillont. But for this reason cribbing was possibly at an cartler date thi taual, and a good deal of corn was crlbl in October, tha xbundance of money faclis tating the process, ‘ho percentage of corm . In eribs at thls date 13 much greater tha the average of former years. ‘There was a big shipping demand for corn all lest month to go ta the Now England States, and the ahlpments would perhaps haye exceeded tha rocelpts |f Enst-galng cars could have boon obluined by. shippers, a f ameD OF PAST YEANS, et he following table -givea: tho estimated corn acreage aud yield, of tho hie States . in sevoral years past. ‘Tho returus for 1 i jnelualye,, embrace only, the Joyal lotal ex; of corn é Corn-mesl from all United Mawes ports, Tho |