Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1891-04-29
FINANCIAL AND COMMERCIAL
TIE GRAIN TRADE, CROPS. &C.

The Cincinnati Price Current under date of
April 23rd. says, "the past week has been fa-
vorable generally for advancing seasonabIe
farming work In the Vest and in maintaining
high condition of autumn sown wheat The
cessation OF rains in largo portion of the
West has afforded opportunity for overcoming ng
in some measure the drawbacks of previous
delays. AS a whole the returns from CORES
pondents are encouraging in nearly all partic-
ulars. with reference to the outlook, with the
exception of oats, and the prospect for this
grain appears to be regarded somewhat more
hopefully than in the recent past.
The speculative wheat markets have made
great strides upward the past wcek-the price
for May at Chicago reaching 1l6 on Tuesday,
| reacting yesterday sharply and closing at li04,
against 1855 week ago. The situation OF
wheat Is strong, and the position Justifies the
view that reserves In this country will be re-
duced to an exceptionally low point by the
time new grain is availabls-but with the
promising outlook for the incoming crop 1t is
likely that nearly all the grain will be mar
keted that can be spared. with little or no in
cliration to hold over to the new season under
conviction that prices will Justify such proceed
ure.
Corn has participated considerably in the
upward course OF values during the week-the
May delivery at Chicago reaching ~ on FRI
day. closing yesterday at 7OA, against 695s a
| week ago.
Wheat receipts at primary markets were
1,4l6,OO0 bushels for the week, against 1880 900
the prece ding week. and l. .l7S, 900 last year.
| THE sRAsoN AND CROPS IN EUROPE.
Writing on april an English correspondent
| of the Price Current says
I'VE are suffering here from one of the most
backward OF springs. Since February the
weather has been cold and wintery, although
generally dry. A good deal of frost, with some
heavy falls of snow. occurred in March, inter.
rupting spring sowing, but since the third
week OF that month the weather has been fa-
vOrable to field work. and nearly all the spring
grain crops and potatoes have now been put
In. A coed deal of barley was sown In r,ebru
| ary. and came up we'll, but has had no chance
| OF growing properly. The wheat and other
winter crops, and grass In the pastures are exs
| tremsly backward. This Is especially unfor-
tunate. as the feeding crops are very badly
| wanted. owners of live stock being so badly off
| for feed that many of them have to sell por-
tions of their focks or herds at sacrifice. The
wheat area here is certainly short one, and
1t Is probably the same nearly all over Eu.
rope"
THE PROSPECT FOR GOOD PRICES.
The Financial Review dated April 25th. Of
the Banking House of Henry Clews & Co., of
New York says
"The country has the promise of a harvest of
more than ordinary abundance. concurrently
with poor crops in Otner countries which sug.
gests The probability ofa large export of cereals
at high prices. This means year of unusual
prosperity for the agricultural West and con
seQuent large traffic for the railroads. IT is
also becoming evident that last years cotton
crop has been estimated TAR below its actual
extent. so that very unusual surplus may
have to be carried over into the next season
which implies prosperity at the South also
An exceptionaly good harvest will mean til @
whichtIbn OF farm mortgages, The proceeds of
In sec may be expected to seek employment
m "A anrff VI nd hafr taff
street. Already, these prospects are beginning
to have then effect upon the tone OF trade at
large. The merchandise markets generally y
are doing heNlthy and steadily Increasing
business and tie iron trade (the best barome-
ter OF buslness) &hows a marked improvement
in demand for ~ oducts."