The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-10-26

Total for the weel

Regarding the general financial trade and out
look, Henry Ciews, OF New York, in his last re-
view, has the following to say:
The crop situation, which was the principal
cause OF the recent boom, IL not yet completely
developed. Between the I'M Jury to spring wheat
from the late storms anu the increased yield of
winter wheat, it can only be roushly Guessed
what Will be the domestic output of that cereal,
while the estimates of the European crop
improving, ana may quite possibly reach con-
siderably larger dimensions than have hitherto
been expected. The cotton crop also can be but
vaguely guessed in it's present stage The gov
eminent october report shows a very serious
decline from the condition given in the esti-
mates of september ana there is much distrust
that the data on which the bureau of agricul-
ture bases its figures may have been distorted
through influences coming from the Farmers
Alliance; and this suspicion is cOuntenauced
b. The tenor of private adyices, as we'll US by the
unpreccd n:ed volume of the current receipts of
cotton. There are, however, many CON
tingencies aLout this crop for the
next few weeks that no expert would
venture definite estimate OF it
until December. II Is also 10 be noted that
while the business OF the country III large Is
steadily improving, yet NJ present there Is no
such boom in general trade as has been ex-
pected from the extraordinary harvest; this,
however, is largely eXplainsble from the fact
that the real results of good harvest do not
come until the products have been in good
measure marketed, which, at this stage is not
true OF any OF our farm staples. Owing 10 these
uncertainties about the outcome of the grain
and cotton crops, there is a corresponding I'M
certainty, for the time being, IL what may be
the course OF railroad traffic. While, therefore,
there can be no question about the ultimate
abundance of the crops and OF the beneficial
effects of that abundance upon the general trade
of the country at later period yet these uncer-
taintes as certain details justify some hesita-
ton III speculative transactions, and afford mod
crate material for helping those who may be in
terested in decline in the prices of securities.
At this point money, both on call and on time
works easier, owing TO the imports of gold aud
the declining demand from the interior for cur
rency. This feature facilitates the carrying of
stocks. and is so far a bull factor of some i'm
portance.
For the present, the situation warrants con-
seryatism. The halt n the upward movement
is liable TO produce frequent temporary drops
and quick rallies in prices and 1t is advisable
TO wait for the periods of such fluctuations
the safest occasions for buying selling But
Notwithstanding the prudence of these reserva-
tons, see reason for any weakening of con-
fidence in the ultimate revival of the boom and
n further advance OF prices when the later bene-
fits of large crops and OF abundance OF money
make themselves more broadly felt
Mr.. Clews has compiled an estimate of the
present years crop of cereals As compared with
that OF 1890, and shows the market value, based
on present New York prices, OF the exportable
surplus of the present crop, To be s49, 100000 in
excess of what it was for lego, based on New
York prices one year ago. Following are his
comparative estimates OF the yield for the two
years.