COMMERCIAL.

Kumara Times, Issue 199, 24 May 1877, Page 2

COMMERCIAL.

New'York, April 24. The Daily Morning Call of the 25th April has the following:—" The topic of most absorbing interest in grain circles to-day has been the probable effect of the Turko-Eussian war" upon the wheat 4rade ; of the Pacific Coast. Prices have already reached a high range, but the tendency is still upwards, and a further advance 6f 3d was telegraphed from Liverpool this morning, and this market immediately responded by touching 2 dols 70 cents. The English market must be a very strong one, not to be affected by the heavy arrivals of the past two days. The fleet which reached British ports from this coast during forty-eHght hours endingvesterday, numbered 30 vessels with upwards .of 1,000,000 centals .of ;whea't. The confidence in the permanency of the cereal market must be great to Wry it still upwards , in. the face of these unprecedented heavy receipts. - It is this season be in a position to reap the fall benefit of. the high prices the next crop is likely.to realise.. Although the harvest will prqve very deficient in a; large portion of the State, we still have considerable supplies for -export; all that part of the great region north of San Francisco Bay will produce an average crop, and.some sanguine persons think we -shall have 250,000 to 300,000 tons for export, and that it will bring ,3 cents per pound. Oregon, is peculiarly/favored this season. ;iThe win ter f owing to light rainfall <• has f beefr -very '" the' operations of farmers,, arid a much greater area.: than usual has been sown. Advices from all parts of that State give assurance that the crop ■ prospects, were never better, and that the jield will be' the greatest ever produced.