Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1891-06-24
FINANCIAL AND COMMERCIAL.
THE GRAIN TRADE, CROPS, &C.

The weather for the past several weeks has
been favorable to the crops in the West. The
Cincinnati Price Current. under date OF June
18th. says
Seasonable conditions have prevailed in the
West the past week, and leading crops have as
rule been favored. The corn crop has made
good progress. although largo proportion Is
still quite backward, and in some regions is
suffering from excessive moisture. preventing
cultivation. THIS crop is quite uneven in con-
dttioD, but the stand Is generally good. and
gives encouragement to expectations OF a sat-
isfactory outcome. The current Information
concerning winter wheat in the West is not
essentially different from previous intima-
tions; In soma regions disappointments are
developing apparently to an extent fully bal.
ancing what there is of better results than had
been looke1 for in ott err instances. These
drawbacks seem to be due to various causes
Portions of the spring wheat area are needing
more moisture, but the general situation ap-
pears to be fairly favorable.
The oats crop is so variable in condition that
1t is difhcult to reach satisfactory conclusions,
but notwithstanding the helpful influence of
moisture In aVerting the seriousness of results
threatened last month 1t is quite evident that
the crop will be far short of a full one.
The marketing of wheat IN the West was re-
duced the past week. but the aggregate is fairly
liberal for the time of year. The inactivity of
milling operations in the interior allows Gore
than the usual proportion of this grain to
move into visible channels.
The Chicago wheat market has been cons,d-
erably unsettled and with downward ten
dency most Of the week, with moderate re.
covery from the lowest point, at the close.
lla hi Of he haap
liable, closing lower than q week ago.
Wheat receipts at primary markets were
1645 900 bushels for the week. against 2,32l 600
the preceding week. and 800 900 last year.
Corn receipts were 100000 bushels, against
3.354.000 the preceding week, and 5035, 900 last
year.
FINANCIAL REVIEW.
From the weekly Financial Review. by
Henry Ciews, dated New York. Jane goth. we
extract the following
1.-THE wheat and corn crops are far the most
important of any single influence affecting the
future of stocks. Indications suggest the pos
sbility of the largest wheat crop on record
estimates varying from 500 to $50 million BUSH
els. These figures should leave a surplus of
about $50 to 200 million bushels for export. If
prices only afford reasonable profit to grow.
ers, and the shortage In Europe renders 1t like.
ly that they WILL 1t Is easy TO see the effect of
such harvest, not only upon the interior. but
upon The trade railroad and financial interests
Of the whole country. Europe will have 10
take our wheat and pay US in gold. Our secu-
rites will become intrinsically better in the
opinion of both home and foreign holders. In
short. should present hopes conc erning the
harvest be realized, 1t would impart degree
of prosperity such as has not been seen for
several years past. However, 1t will not do to
discount such hopes too rapidly. The crops
are not yet beyond danger. Prudent men will
therefore keep close watch on crop news for
the next few weeks and act accordingly. There
will be nothing to fear in the foreign situation
for some months to come. July disbursements
are close at hand, and an investment demand
of some Importance is usually experienced for
stocks during that month. Our opinion re-
gardlDg the immediate future is hopeful, and
favorable to a moderate improvement in the
business conditions. Comfortable money,
moderate prices for stocks and good crops are
sufficient to counterbalance all the weak points
at this time.n