Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1891-12-16
FINANCIAL AND COMMERCIAL.
THE GRAIN TRADE. CROPS. &c.

FINANCIAL AND COMMERCIAL. |
THE GRAIN TRADE. CROPS, &c.
The Cincinnati Price Current OF Dec. iotn.
says that weeks correspondence from WIN
tar wheat districts reflects more cheerful
view of the situation Of the growing crop as
rule than previously. east OF Kansas the
wheat plart has made fair development in the
recent past, although still much deficient In
erexth compared with year ago. and under
ordinary conditions, for this time in the year.
The chief feature OF discomfort is in the nature
of apprehension as to the effect Of possible
hard winter conditions In the future. Mueh
of the Judgment concerning the comparative
status of the crop, on the part of those not
familiar with the growing OF wheat. mas Deen |
based on the relative appear ance OF the plant.
Intelligent observers, however. have recognlz-
ad the fact that although the PROCESS OF grown
has teen retarded the root Is good ana Inc
plant In haalthful condition. There are eX-
ceptionp, but these Are but little If any more
than ordinarily. In Kansas, and In some as
trscts OF Ni ssanri, tue iaek 81 moisture has leo
up to poer eop dition Of the plant, 10 con-
siderable extent. This Is not the case sise-
where in any important degree The iacR OF
surface moisture subsequent to seeding tended
to the downward development Of the root.after
termination, seeking the direction OF tne
greater degree of moisture. This has given the
wheat plant better actual status. as q ruie'
than a casual view has recognized.
Weather conditions have generally favored
soaaonable progress in getting corn INTO mar
ketabIe condition. The general position win
reference to this grain Is without mucn
change. The movement Is enlarging' Dus
great confidence in future values In SILL mani-
fest among farmers in the West. This Is part
" based ON anticipations of liberal require
ments In the spring and summer Ior nnisnihs
tbs liberal number OF young hogs Tor Market
which are expected to be marketed tnen.
The Iea&.ng grain markets have scored solne
advance for the week. sentiment conoe'nins
wheat has beer strengthened by talk in regard
to the anticipated december report Vi 'ne -
partment of Asr,culG~se relating to the condi
ton of the growing crop. Last year the aver
sge condition in December gas stated as So.4;
in 1889 s5s in 1885, $685. in 1887, esq., In 1885, sj g.
It il dificult to fpd much ground for Dull
campaien for wheat. in the near future, out
side of the possible influence Of adverse wealth
er conditions npon the new crop. Speculation
for distinctly hipb ar values mast secure sup
port from new cron .>orditions rather IMAM
from the situation Of snon,, - now In sight ana
sSa,lab1e for rson,rsman,a - feature of en-
hssced cost Of freights to foreign :, ,h,s
COUNTS against the selling markets l.
country.
1t is frequently intimated that the American
wheat farmer is not securing the proper ad.
vantage froaa the deficiency In supplies in Eu-
rope. This Is hasty conclusion. Suppose
Europe this season had a normal home supply.
What would likely be the position OF values In
this country, with more than CSC, 600 600 bush.
els Of wheat produced in the United States and
Canada. under such condition? Is 1t not likely
that prices would be % TO Is cents per bushel
lower? Ifthis is reasonable view. 1t may be
reckoned that the American farmer has been
and Is now securing high premium for the
surplus wheat which he has had.
Wheat receipts at primary markets were |
6.974 600 bushels for the week, against 5l4 900
the preceding week. and 8, 626. eco last year.
Corn receipts were 3,lS400O bushels, against
zoos goo the preceding week, and $3.50. geo last
year."
FINANCIAL.
From the Financial Review of the week end.
ing Dec. 18th. by Henry Clews, we quote the
Wall street remains quiet; but the symptoms |
of coming improvement accumulate. Holders
of securities are we'll satisfied with their posi-
ton and prosp ects while those ''short" on the |
market show signs of uneasiness: SO long how |
ever, as transactions are mainly confined to |
the room traders" the "bears'' may take
their time in getting themselves into a safer
position.
One of the notable features OF the market is
The increase ofinvestment buyers. They rep
~ OrI " IA onr inc of Of
sonably prosperous business. but also the
q Undated principa! of Western land mort
cages. of which considerable amounts are al
ready being settled out of the results of the
arge crops, while greater sums are likely to
be extinguished during the coming six months
IS the crops come into market. The large
earnings of the leading railroads, and notably
IF the Vanderbilt properties. together with the
probable later advance in stocks, are attract
ng the investors who want over per cent for
heir money to the more substantial dividend
paying shares, and the market supply OF that
,lass of investments is being steadily reduced,
With consequent gradual rise in their value
Lo wer grades of stocks, however, continue to
De comparatively neglected and are the chief
of such limited speculation as is go
ng on. 1t Is clear. however. that the improve
nent in the first class stocks is laying the basis
or an ultimate recovery in the lower grades
md will conduce to a later active speculation
n the latter. Indeed. there are already some
of the beginnings Of such a move
nent.
the Money Market remains easy; but the
banks have ceased to receive the large cash ro-
nittances from the interior prevailing for
'ome weeks past. Considering the immense
orwardlngs OF grain from the West. this Is not
Ia