Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1891-09-04
TINsLEY & MORTON, Proprietors.
FRIDAY MORNING. SEPT. a.. 1891.
THE SITUATION EASING UP.

THE SITUATION EASING CI.
There are many indications that the
stagnation in Virginia development arts
ing from the stringency in the money mar
ket, has begun to pass off. The New Y DIRK
banks this week report a reserve of
$12,000,000 in excess of that required by
the government but we do not have to go
so far from home as that to find symptoms
of returning activity. Wenotice that at
nearly all the new towns in this vicinity
the buying and selling of real estate is be-
ginning again-not with rush to be sure,
but beginning as the first sprinkle of the
coming rain. The stocks of those improve
ment companies which are quotable- that is
tosay those that are declaring dividends and
have fixed standing in the money market
are again being inquired for. We saw a
letter yesterday Offering 800 for the stock
of Land Improvement town Company,
the par value of which is 500 and which
during the dull days with which the Spring
of 1891 opened in Virginia, sold at $50. The
cause of this dawn Of the renewal OF activ-
ity is no financial mystery, the comprehen-
sion of which is beyond the capacity of
those not in the money centres of the coun-
try, but is as simple as the problem OF good
crops and bad crops. The New York FL
aeoncial Chronicle in its issue of Saturday
prints a tabular statement of the exports
of wheat and -four from the ports on the
Atlantic seaboard, for the first three weeks
of August, and thus comments on the
showing:
s'From this we see that up to last Saturday
the exports of wheat and flour in August had
been over three times the amount for the cor
responding period last year, reaching about
10000, 900 bushels 1865, 1874 bushels), against
only little over 100000 bushels (5,169, 44
bushels). That is to say, in these three weeks
in 1891 we sent out nearly 100000 bushels
more than in 1890. OF the 1868, ISL total OF
flour and wheat, IS, 419.5S6 bushels was actual
wheat, and of this latter 5, 592, 03S bushels
went to the United Kingdom and as much as
9,71, 54S bushels to the Continent of Europe,
showing where the special need exists. No
wonder a more confident feeling prevails in
business circles, and no wonder the whole
tone of the financial world has changed.
Only short time ago we were sending out an
average OF S6000,0 900 to 81 200, 900 gold week.
Now we are sending out 6,Ooo, 900 to 1000, 900
bushels of wheat week. Perhaps there is no
more forcible way of emphasizing the differ
ence between the two periods. We were sup
plying Europe's needs then; I'VE are supply
ing Europes needs now, only the latter ope-
ration is likely to prove great deal more
profitable to us, besides being more assur-
ing"
On the day the above was printed, the
European news telegraphed from London
made the demand for American grain still
more imperative. Tne grain supply of
Europe already short, had been greatly
damaged by the incessant rain, and
Dornbusch the grain authority estimates
the shortage of the wheat crop of Europe
compared with last years crop, to be
$4,000, GOO bushels. So that it may be set
down with certainty that the demand fol-
American wheat will be greater than even
our great surplus can supply. Every
American railroad running East and West
is oyertaXed to carry wheat to tie seaboald
In the Valley of Virginia the wheat crol
is one of the largest seen in twenty-five
years, and means millions Of MOI ey fol
this section, and when the great corn croI
ripens for market it means millions more
1t is peculiarly fortunate for lhe Few
towls in this Valley tlat all Of them
have sp mt the d III seaso in reinforcing
themselves by erecting factories for indus
tries. 1t has leen time " isely spent, for il
has been spent in cutting channels for the
rising tide OF prosperity by Which the whole
new system of development in this section
may he irrigated and made to bloom with
activity.