Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1891-12-09
FINANCIAL AND COMMERCIAL.
THE GRAIN TRADE, CROPS, &c.


The Cincinnati Price Current of Dec. 3rd
says:
"Advices from winter wheat districts do not
suggest less encouraging view than previous.
ly of the situation of the autumn snow crop.
Ifany change the tenor of reports Is somewhat
more favorable. In comparison with the ap-
pearance of the crop a year ago there Is a
marked contrast in nearly all sections. The
prevailing sentiment Ia that an exceptionally
severe winter season would undoubtedly in =
jure the plant. On the other hand. If condi-
lions should prove favorable, there is a basis
justifylng expectations OF good outcome.
There is considerable remark in regard to the
plant appearing thin on the ground.
In the wheat trade the general position and
outlook has not Changed essentially. The
movement Ia winter wheat sections has fur
ther decreased somewhat. but has been main
tanned in the Northwest. Export clearences
continue hberal-still the visible stocks have
enlarged, which means depletion of farmers
holdings in excess of current consumption and
expectation.
From abroad there Is nothing especially new.
The distressful conditions in Russia are con
flrmed by accommodating evidence. The needs
for food produ seem to give war; ant to the
view that before another harvest that country
must do something at Importation to replace
the supplies which have been already moved
out. But where such poverty exists the pur-
chasing power is reduced.
In other portions of Europe there Is little
concern now apparent with regard to the flu
ture supplies of brsadstuffs.
In Great Britain mail advices report excess
sive moisture. but sowing operations have
made fair progress.
In France fairly satisfactory condition is
reported excepting in the North. In Germany
the situation is not discouraging. Reports
from Hungary, Roumania, Bulgaria and South
Russia are unfayorable.
In the corn trade the feature of the week has
been the elimination Of the "squeeze' of the
short interest 10 November delivery of contract
reached 80 cents at Chicago and
81. 10 at New York.
At Chicago closing prices show . decline Of
1850 on wheat for December and May. Nc on
corn for May, and Lc on oats for May, COM
pared with aweek ago.
Wheat receipts at primary markets were
7.514 900 bushels for the week, agains 53l ,0c0
.he preceding week. and 8. 49j COO last year.
Corn receipts were zoos 900 bushels, against
.7l2. 600 the preceding week, and $4,000 last
year."
FINANCIAL.
We quote from the Financia al Review of Hen
~ Clews, dated Dec. 9Th, which says again q
week of marked dullness and of some weak
ness of prices on the Stock Exchange. And
yet, along with this. there are no conditions
that can be considered sufficient to account
for this state of things. The London market,
which in a certain sense may be said to be
branch Of ours, has shown a healthful and, &C.
cording to dispatches, even a cheerful" tone,
and is only waiting for the signal from this
side to start up an active "bull" movement;
and yet this attitude has no encouraging ef.
feet on New York. The Bank OF England is
rapidly increasing Its reserve and is expected
TO soon reduce its rate of discount to 81 or
per cent. The Continental bourses have shown
a mark ed recovery of confidence; and at Paris,
Berlin, Madrid and Vienna there is no longer
any apprehension Of financial trouble. Fol-
lowing the visit of Nj, de Giers to the govern
ments of France, Germany and Italy, there is
a cessation of disquiet in political rumors, and
hopes are entertained that some way has been
found of establishing. at least for the time
being, more harmonious relations among the
divided powers.
A stage of the year has now been reached
when, in spite of favorable conditions, the
market is not usually responsive to move
ments for advancing prices. In q few weeks,
we shall be in the midst of the diverting influ-
ences of the chief holidays of the year. The
period of taking stock, making up annual ac-
counts, providing for interest settlements and
making variety OF annual liquidations. is
not a time for initiating q speculative CAM
paign; and therefore, whatever msy be thought
OF the legitimacy of q rise In stock values cor
responding to the many-sided stimulus that
now bears upon the Stock Market 1t is not to
be supposed that any important movement OF
that character is likely to appear until neal
the close of the year or at the beginning of 1892
During that interval, we may possibly witness
some irregularity in the market. The 'bears'
will need to exert all their skill and power tt
extrlcate themselves from their large short
mmitments; and such temporary successe.
as they may have will afford opportunities fo
buying. On the other hand, 1t seems quit
probable that outside happenings may pre-
ponderate on the favorable side. The improv
ing tendency of affairs in the Interior and il
Europe, the effect OF the crops upon railroad
| earnings, the growth OF ease in money, an,
the return OF gold from Europe are influence
| that are likely to continue to further develol
throughout December; which may be expecte
| to steadily prepare the way for a later move
ment towards higher prices. which 1t seems t
| be very generally conceded would then be lie
( ultimately due and likely to occur"
Staunton Markets.