Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1891-10-07
FINANCIAL AND COMMERCIAL.
THE GRAIN TRADE, CROPS, &C.

The Cincinnati Price Current of October Isl
says:
Nothing has occurred during the pabt week
to produce disappointment in conditions at'
tending the rounding up of the corn crop
which for the most part has been In fine shape
In some localities the exceptional heat has
FASTENED the curing process SO rapidly as to
make the grain somewhat lighter than IL
would have been under other conditions. But
where there has been drawback OF this kind
there has been full compensation in other d.
rections and instances.
The dry weather has brought corn into good
condition for feeding purposes decidedly ear
lier than would have been the case under ordi-
nary circumstances surrounding the crop at
this time of year, especially In view of The late.
ness of a considerable portion OF the crop.
There Is now no important area liable to es-
sential injury from any weather conditions to
follow. For all purposes of calculation the
crop may be regarded as approximately 2,OOO,-
COO 900 bushels, and LIS 600, 600 to 200, 900 900
bushels in excess Of what is likely to be con-
sumed in the country during the year. in the
ordinary way.
Some rains have fallen this week. but not
sufficiently extensive to breax the drought
which has been etarding wheat seeding oper~
atoms in the Wes. The high temperature
has given way to cooler weather, but herd
frosts have not occurred yet.
The past weeks arrivals OF wheat at winter
grain markets in the West we're further re-
duced to some extent, as also in the Northwest
but the aggregate was large. For three
months, since July L. the primary market
have received rs, 100000 bushels, compared with
% 800 900 last year, and 49, 700 900 In 1885, when
the movement was the largest In any recent
year previoussto this season.
Interior millers in various sections are re-
porting reduced offerings of wheat, large
proportion of that which urgent necessities In
duce1 selling having been disposed of, and
prices now asked are generally above a parity
with the receiving markets. This has led to
more confidence with reference to flour. which
is less urgently offered. 1t begins to look as II
better pri ices will soon be requisite to MAIN
tain free marketing of wheat. Notwithstanding
the enormous quantity to be moved within the
year, now already well begun.
The foreign situation is without much
change. The later Information is calculated
to add to the feeling of confidence In higher
prices for breadstuffs. But there is q good deal
of nonsense afloat just now, in the form OF
press kilograms from New York, Of sensa-
t1onal nature, to the effect that Continental
governments are looking after large purchases
of food products in this country. These bits OF
liter AZURE may be regarded as OF a fairy
nature.
At Chicago the range of December wheat
the past week Shas been 9611, on Monday, to
9S1a. on Thursday and yesterday-closing at
9714. against 9SM a week ago. At the close the
clearances from Atlantic ports were reduced.
which had q temporary effect on trading senti-
ment.
The corn market at Chicago for October
has ranged during the week at Az,
the lowest, on THURSDAY. to 81. the highest. on
closing at ~. against 1875 a week
ago.
Wheat receipts at primary markets were
SCI 600 bushels for the week; against 1854 .0C0
the preceding week, and 3.00S 600 last year. De-
tails in tables elsewhere.
Corn receipts were 2.59i0O0 bushels. against
AS 600 the preceding week, and $685., 900 last
year."
FINANCIAL.
From the Financial Bulletin of Oct. 3rd, is
sued by Henry Clews & Co, we quote the fol-
lowing which is quite encouraging:
-The solid facts are more in favor of improve
lhOub tadh CfCf. luO AdE " St has AOW Pdbscu
rom the range Of possibilities into a certainty.
Plenty and profit are already in the grasp of
The farmer. Debts will be paid, mortgages
wiped out. and new enterprises started OH a
scale hitherto unknown; all of which means
expansion of business and increased traffic fer
railroads. Nor will the effect be restricted to
he United States. In a measure the impetus
started here will counterfeit the blight of short
crops in Europe. The brunt of that calamity
must. Of course, be borne there; and yet the
Use In American securities has already reviv-
ID dropping spirits on the foreign bourses and
helped restore the confidence destroyed by
Argentine and other speculations. Moreover.
American prosperity will enable larger pur-
,hases of foreign man ufactures. in spite of our
higher tariff, fear of which has been adding to
he depression abroad. The war cloud which
iarker than ever. AT the same time. hostili-
les are not likely to begin In the winter; Rus
Tia will not haye completed her new armament
or two years to come, and the relations be-
tween the various powers remain too indef-
mite to calculate upon with certainty. Ulti-
nately, war appears inevitable. At first 1t
may injure American securities. because they
Will be the best on which to realize; but for
ust the same reason they will finally be the
best to hold; therefore, no serious or lasting
depreciation should follow our stocks in event
If European struggle