The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1891-12-10
NEW SERIES, VOL. I, NO. 81.
An Improved State of Trade

An Improved State of Trade.
The Philadelphia Press, of the 30tl
in its weekly review of the condition c
business, has the following paragraph
in relation to iron and grain. Fro1
them we conclude that the prospect
bright for the country. Both the man
ufacturer and the farmer have ever
reason to believe that next year will b
universally prosperous. and that tn
iron interest, from which enianates 81
much of the business activity and health
OF the country, will be exceedingly &C
tive and remunerative This will Civ,
an active home demand for farm prod
ucts, and supplemented by the extraor
binary requirements of Europe, will as
sure the farmers good prices The Pres,
says:
| There are many signs that business is
larger in volume, but there is a good
deal of complaint that prices are toe
low. Notwithstanding the fact that the
holiday interrupted trade, the bank
clearings caught up with those of last
| year, and there have been some tremen>
dous transactions in steel rails. The ex-
ports continue heavy, especially for
wheat and cotton. and the probability
is that transportation facilities on land
and water will be taxed to the fullest ca
| pacity for months to carry the traffic
now in sight There is a vague feeling
| of fear that the meeting of Congress
may have an unfavorable influence, but
| this is not likely to be realized. The re-
al Ixv Tod
silver people, and the leaders of both
parties will insist on moderation in view
of the immediate dangers of mistake
on the eve of a Presidential year. The
Christmas holiday trade has begun and
is reported as active in all the large
cities.
There is decidedly better feeling in
the iron trade, especially in this vicinity,
growing out of the large orders for steel
rails during the past two weeks, amount
ing to something more than 10000 tons.
Among the railroads which have given
large orders are the Pennsylvania, the
Erie, and the Norfolk & Western, and
several Western lines. Several railroads
have also made contracts for cars and
there is more of this business in sight
than for year or more There has been
no change in actual quotations of pig
iron, but there is firmer feeling in this
vicinity. The minor metals are dull and
weak. The anthracite coal trade is in a
satisfactory condition. During asst
week the representatives of the great
companies agreed on moderate tonnage
for December and thus put at rest the
silly stories that a conflict among the
companies was at hand.
The grain situation is an anomaly
which cannot be explained except on
4 T. !, RI,o% RI,N
lators are keeping prices down during
the period when farmers casually SELL
Notwithstanding large increase in the
expected demands of Europe, growing
out of an overestimate of the crop of
Russia, the price of wheat has actually
fallen. The receipts of grain have been
large, but they have not come up to the
exports and consumption by about 81
O00,O 900 bushels. This country will re-
quire under the recent English figures
of six bushels per capita for food and
seed, about 3S0,OOO,O00 bushels of wheat
this year, or say 100000 bushels per
week. Last week the exports were 4,
0O0,O bushels, and if the home con-
sumption was 100000 bushels, we have
quirements for II 100000 bushels against
receipts of 100000 bushels. The actual
visible supply of wheat is not excessively
large as compared with that of last year,
and the receipts ought not to scare any
body into selling, as the prospect is that
Europe will take a still larger amount of
our wheat than has been thought possi>
BILE. These facts might as well be sug
gested before farmers sell their wheat,
as when later in the season the specula-
tors will be whooping prices on them.
Corn fuctuated violently and closed Z
cents higher. This movement is due to
a corner in the November delivery, but
there is demand for corn for export
which makes prices very stiff. Many
shippers believe from the present out
look that the exports of corn will be far
ahead of any previous time and some
doubt is expressed as to the ability of
railroads to bring it forward us rapidly
as it will be demanded The movement
is expected to assume large proportions
early next month. This is a matter of
Importance to railroads which make
more money on corn than wheat, and
especially SO now as rates on corn have
been advanced recently. Cotton re-
mains very low in price, but the exports
increased $4,000 bales over last year.