Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1891-09-23
FINANCIAL AND COMMERCIAL.
THE GRAIN TRADE, CROPS, &c.

The Cincinnati Price. C1rrent OF September
18th, says that 1.-THE Western corn regions have
for the most part been free from further rain
fall the past week. The earlier part OF the
per Tod was cool, becoming warmer later. The
dry weather has been favorable to maturity OF
the crop, but large breadth Is still In green
and more or less growing condition. This Will
all tend to enlargement of the production. pro-
vided maturity can be reached without essen
tial injury from freezing. Light frost now or
in the near future would be beneficial To con-
siderable proportion of the western crop, Tor
Its aid in checking the growing condition. In
our next issue will be given rho result OF very
full inquiry In regard 10 condition of the crop
and indications as to yield. At this time the
situation justlfies expectations OF 2.C000'O.OOO
bushels.
The September report OF the Department OF
Agriculture strengthens us in the view that
the price Current estimate OF a crop of $751;
10000 bushels OF wheat Is not too high.
The preparation for autumn seeding ofwheat
has continued under favorable conditions in
nearly the entire breadth of such planting in
the West. In portions of Kansas there has
been some drawback from lack of moisture.
The returns continue to indicate an enlarged
area to be seeded to wheat. Seeding has pro-
guessed to 81 considerable extent. and in some
localities the plant has already made its ap.
pearance.
The marketing of wheat III the West has
been we'll maintained. There is more or less
talk of holding the grain out of market-bIt
there are no indications that the movement is
to be essentially checked in the near future.
whatever may the efforts of Alliance organi-
cations in that direction.
To limited extent there is some hesitation
in mar keting wheat until the corn crop is
more clearly assured In good condition.
Concerning the situation abroad there Is no
new evidence of special significance, other
than the confirmation OF injury to the crop IN
the United Kingdom by the remarkable rain
fall and storms in August. The large purchae.
es for the Continent and the liberal volume
of wheat now in sight will be calculated to
| modify to some extent the eagerness to enlarge
| contracts in the near future on any essential
advance On the other hand there Is some in
dications of better demand from British
markets, where the large dealers are showing
more interest In securing offers of both grain
and flour, and a considerable amount of BIT ST.
ness is being quietly executed.
| Wheat receipts at primary markets were
1854, 900 bushels for the week, against 81 600
the preceding week. and 2. 1868 900 last year.
3,627, 600 the preceding week. and 2.422,OOO last
year."
| FINANCIAL.
In his financial bulletin OF September 10Th,
Henry Clews says:
We are in the midst of a progressive i'm
provement and each day brings some new
stimulus to the buoyancy of the prevailing
boom. Within the past week, for instance we
l nnu ant of
pectedIy high averages of the condition Of the
unharvested cereals, large increases in the
earnings of the railroads. the beginnings of i'm
ports of gold from the Continent of Europe,
and q bank statement favorable to ease in
money; and in the meantime there are no I'M
favorable circumstances appearing, while the
market was wholly unaffected by the Mitylene
| incident. In this sense, 1t may be said that
much of the bulllng comes from the course OF
| events, and in any case 1t cannot be denied
that such q favoring DRIFT of occurrences
] strongly IeinfOrces the sanguine bull party
while 1t induces caution on the other side of
| the market. This tendency might be less I'M
portant If there were the caution usual at this
season of the year about the course of the
money market; but, the refiux CT gold from
Europe having already set in, the money pros
| poets are an element of encouragement rather
than encouragement. Perhaps the sole FACTOR
that can &c regarded IS seriously suggestive of
distrust is the grave condition of European
politics arising from Russia's coercion of
Turkey in relation to the passage of the OAR
danelles. That may prove to be very grave
question for the great powers; but to the Unit
| ed states 1t could only bring important ad-
vantages in an increased demand for our in
vestments and. in the event OF war, Tor our
food products. Nor is the negotiation OF Rus
sia's loan in Paris calculated to appreciably an
feet American investments In Europe as the
loan will have to be taken almost exclusively
by French citizens, who hold but few OF our
| securities.
With SO many elements In favor OF the New
York market and SO few, or virtually none,
against 1t. 1t must be admitted that the pros
pect of making any adverse impression on cur
oeais anu 'noso ,.ts .p' 49, ., 800 ot no