Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1891-04-22
FINANCIAL AND COMMERCIAL.
THE GRAIN TRADE, CROPS &C.

The Cincinnati Price Current of the 18th inst
says that reports from the Western winter
wheat regions continue very encouraging.
Development of plant now satisfactory. The
feeling prevails that the danger period is
practically passed. and good outcome is all
most sure.
In the last few days the weather has been
more favorable than previously and spring
work has been prosecuted very actively IN
nearly all sections of the West ard Northwest.
In the spring wheat regions seeding opera
lions are we'll sd7anced, under favorable con-
ditiens. and cheerful view of the situation
prevails.
Taken as whole the past week has decided
" improved the general position with refer
ence to spring work, delayed by excessive
moisture. There is still some complaint, from
various localities, but this is becoming the ex-
ception.
Wheat trade sentiment is generally firm
and continues to fird support in the views OF
foreign operators. 1t is rarely that the Eng
lish commercial press is so unanimously and
outspoken in expressions contemplating high
er prices for wheat-based ON the conviction
that notwithstanding the possibilities in this
country for q large crop this season the de-
ficiencies threatened in other countries make
the general position one of prospective short
age to some extent in the years supplies as
compared with the aggregate usual consump-
tion."
WHEAT PROSPECTS IN ENGLAND.
The Lond on Mark Lane Express says: The
aspect of our grain fields is OF disoouraging;
but the autunn-sown wheat, although good in
color and of healthy growth, is SO far behind
hand that even thus early in The season the
anticpations OF o September harvest, instead
OF an August crop, have a strong balance of
probabilities in their favor. This will throw
the burden of finding an extra one or two mil
lion qrs.. of wheat and flour on the present &C.
real year-a burden, of course. quite irrespee-
tive OF the eventual yield per acre of the new
crop. The February wheat is little more than
up, and will be now later than the sowings of
the old year. Spring grain is wanting rain
and If the drought Of the first quarter of 1881 be
repeated in the second quarter, we shall have
a failure of all but the hardest and deepest
rooted of the crops. The dry cold equinox is
held by some to threaten droughty and
backward spring; but in this case We may say,
happily, that the more weather experiences
We live through, The less do we become in.
elm ed TO credit any Vaccinations on the SUBJ
iecs-
AUfobu. tlS coca OF Tie WI eat ID
America, Russis, and Austro- Hungary gives
the trade hope of q larger total export surplus
from these countries than in 1899. The differ
ence in the United States may amount to from
100000 TO 100000 qrs. and in Russia and
Austro~Hungary combined to from 100000 to
100000 qrs. Thus, at the best. the wheat sur
plus in aggregate may be raised from 100000
to II coo COO qrs.
Against this surplus has 10 be set the practi-
cal certainty OF heavy import wants in France
and Italy, and the strong probability of in
creased imports into Spain, Belgium. Holland.
trade is that the total of these deficiencies,
with the chronic wants of England. will be
larger than the total of the SURPRISES IN Amer.
lea, Russia and Austro~Hungary, and that
1891 % will be a cereal year marked with de-
cidediy higher mean of value than that which
has recently prevailed. at present, Mark Lane
and the Baltic are restricted in their ability to
back this opinion by the fact that the capital
in the grain trade is no longer what it used to
be. Should, however. the harvest prospects
fall off in either Russia or the United States
or should the promise of our own crop be
threatened by untoward weather, then outside
capital would doubtless be procurabe to
strengthen the hands of holders, and we might
well have decidedly higher prices even within
the next few months Of the present cereal year.
FAVORABLE PROSPECTS IN THIS COUNTRY,
From the weekly Financial Review of the
clearinghouse of Henry Clews & Co., of New
York city, dated April 18th. 1891, we quote the
following =
"The hardening tendency in money is re-
earded as only transient and likely to be fol-
lowed by free shipments of currency from the
interior of this centre. The improvement In
the business of the roads in the Granger Sec
ton is construed as hopeful symptom, and
has caused free buying in securities of that
| class: and the statements of railroad earnings
| for March show continued moderate gain
upon the exceptionally large business of last
year; which is something better than was ex
pected at an earlier date. The really important
| factor in the situation. however. concerns the
prospects of the grain crops. Not only Is the
aci cage of winter wheat large but Its con-
| dition, according TO official reports Is mucn
| above the average and the current weather is
favorable to the .develor ment of the plant
The prospect Of poor crops in Europe has In
duced plantirg of spring wheat on this side
the Atlentic which promises to suTpass all
precedent in acreage, and the weather Is favor
able 60 sowing II under excellent. . titloDs,
| JsniIe the Jam remark applies to osleE crops,