Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1891-10-14
FINANCIAL AND COMMERCIAL.
THE GRAIN TRADE, CROPS, &C.

THE GRAIN TRADE, CROPS, &C.
The Cincinnati Price Current Of October Sth
says:
(! THAT rains have fallen to a considerable ex-
| tent in the West, and more particularly In the
Northwest. the past week, but there has not
| been sufficient moisture yet to give relief to
| the impaired pasture in the drought districts,
or to facilitate the completion of autumn
| wheat seeding where 1t has been retarded by
the dry weather. The bulk of the wheat seed-
ing accomplished is in a favorabl condition,
but 1t now appears problematical If there will
be the enlargement in the area of winter wheat
that was expected.
The speculative wheat markets have to some
ex tent been strengthened during the week by
advlces from the Northwest concerning dam
age to grain from moisture. AS 1t Is not clear
that any essential reduction OF the quantity Of
wheat will result from the moisture, the logi-
cal conclusion to be reached is that the Injury
will be chiefly confined to impairment of quail
ity, and this Is not strengthening element in
the question of values.
At Chicago the range of wheat for December
during the week has been s67z the lowest on
Thursday to 1905. on Saturday the highest,
closing on Tuesday at 9315 or l14c higher than
q week ago. There was no session ofthe Board
of Trade yesterday, Wednesday.
There are intimatlons from abroad rather
more favorable as to the outcome of crops in
France ard Germany. and all things consider
ed the current news and situation does not ap-
pear 10 Justify any special upward tendency in
the near future, while the prevailing conf
dence in decidedly better prices ultimately
seems to preclude much chance for essential
decline. Perhaps something OF lull may he
experienced for awhile.
Wheat receipts at primary markets were
7467, 900 bushels for the week. against 1861 coo
the preceding week. and 3.Ol9 900 last year.
Corn receipts were 1.24S0OO bushels. against
59i coo the preceding week, and 2 1874. coo last
year."
The Chicago "Hearld' says:
1T will be eight weeks before fair estimate
can be made of the stocks of actual wheat
which will need to be carried here or the vol
| ume of short sales which need to be taken care
Of in this market to carry the stocks at the
points west and northwest of here. Until 1t Ii
possible to estimate these that important class
which bases Its operations on facts rather thar
fancies is very uncertain as to the market
rather inclined possibly to short 1t for the
moment, but still as nervous and uncertain as
conservative people naturally would be who
were without theory and without much in
| formation.
TIE exnorts are mt as heavy as they were
yet there is now the certainty almost that thii
country will sell 200, 0OO 600 Of Its crop to the
other side. 1t has actually shipped already
IS, 900 900 of 1t to the other side since July l.
will quite certainly have shipped 100 600 Of
1t by January l. The Chicago price is even o
little under what 1t was year ago; Liverpool
Is fully 10c per bushel over what 1t was year
aoon
In MS FINANCIAL bulletin OF Oct. io'n' MT
Henry CleWs, In speaking OF stocRs, expresses
In opinion "tnat tne actlYlty OF the market
would De more penenteo IN Inc Gnu ny iail
decline ratner IMAM an aoVahce' anu WIZ
speculative FORCES olVioeo as 'ney now are tne
outlook Is certainly more favorable 10 1ail
than rise. At the same time the exceedingly
strong undertone Of the market cannot be
overlooked; and, until eVents snaps tnem-
selves more definitely, we may expect good
trading Market IN whlcn quick turns are pref
cradle to long holding.
London appears to be somewhat uncertain
factor, chiefly because OF the monetary situa-
ton there. IL IL possible mat we Will nave
drawn from $50 .0O0OOO to Sio.OOocOO OF gold from
Europe by the close OF next december. we
have already taKen ABOUT slo.OOooOo during the
season. Inc BANK OF England is dlsposeo 10
resist this movement In degree, ana mucn OF
the demand Will fall upon Paris, wh1ch Is
fortunately well prepared 10 meet IL. ltlsaiso
to be remembered that the failure OF crops IN
Europe will cause there stagnation OF trade
and discourage speculation, thereby lessening
the demand Tor money fohticai' nnanciai
and monetary AFFAIRS In Europe are all In
complicated and delicate condition. Hence, IL
Is Impossible to accurately forecast their QUIZ
come; so that. however superior the 1nduce-
ments of Am rican securities to foreigners, 1t