AMERICAN GRAIN RING.
To the Editor. Sir—Seeing a telegram recently in your paper that tho American grain ring had bought up all surplus grain in America, could you inform mo whit amount of grain, &c. As our harvest has been such an abundant one tins .year it would be a great benefit to this country to know the foundation of the said telegram, and as to the truth of it.—l am, &c., Subscriber. Ashburton, Feb. 23, 1880. [The ring referred to is simply a largo clique of American grain buyers, who buy up all tho grain they can lay hands on and hoard it. This causes a fictitious scarcity, and consequently a fictitious price. As to the truth of the telegram, wo have no reason to doubt it. It the ring hangs together, extreme prices may probably be reached. If the ring collapses, and tho members of it are compelled to realise on their stocks of grain, of course a fall in price will undoubtedly follow on the market being Hooded with grain. The estimated wheat crop of the 'United States for 1880, is 500,000,000 bushels. The average value in Chicago is 3s. 2d. per bushel.— Ed. A.H.J
See our copyright guide for information on how you may use this title.
Papers Past now contains more than just newspapers. Use these links to navigate to other kinds of materials.
These links will always show you how deep you are in the collection. Click them to get a broader view of the items you're currently viewing.
Enter names, places, or other keywords that you're curious about here. We'll look for them in the fulltext of millions of articles.
Browsed to an interesting page? Click here to search within the item you're currently viewing, or start a new search.
Use these buttons to limit your searches to particular dates, titles, and more.
Switch between images of the original document and text transcriptions and outlines you can cut and paste.
Print, save, zoom in and more.
If you'd rather just browse through documents, click here to find titles and issues from particular dates and geographic regions.
The "Help" link will show you different tips for each page on the site, so click here often as you explore the site.