Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1891-11-18
Stanton SpettaIlox.
WEDNESDAY, NOVEMBER 18th, 1891.
General Busines IS Features.

There ore some peculiar features to the
aspects of trade this year, says the Cincin-
natl Price Current, which do not often ap-
pear in this country. In general way the
gross earnings of the railroads show tina
there is large increase in the movement
of commodities; these are chiefly the agri'
cultural products Of the country going &c
foreign as well as domestic markets, and
foreign and domestic manufactures, which
are being distributed to various parts OF
the country to rather more than the usua
extent, but the bank clearings are smaller
than last year, not only in New York where
the dealings in share properties On the
Stock Exchange are much smaller thar
last year, but also in cities outside OF Ne"
York, where the average runs o(94 PEI
cent under last year. Naturally it wouic
be expected that with abundant crops Of
everything-cereals, hay, fruits, potatoes
AID other root crops, and yield of cotto'
second only to the enormous crop OF lo9O-
and with prices liberal if not wholly salts
actory-the bank clearings would indicate
ully as large an increase in the volume o.
business as do the railroad earnings. Bu
it is evident that while the crops Of cereals
must be marketed, and their movement if
progressing as rapidly as last year, relative
ly, and at prices abou. on par with las'
year, it is not wholly SO with some Other
articles. Cotton has so far come to marke
even in larger quantity than last year, bu'
the price has been about 14c per pound less
than Their. The prevalence of abundant
supplies of all agricultural products in
every part of the country has restricted the
movement from one district or section Of
the country to another, because the inter-
exchange of commodities was not required
to the usual extent. Last year the partial
failure of crops in some regions necessitated
the shipment of large quantities from other
points, and this was the basis of large
volume of business in the aggregate, which
is now wanting. Nearly every district has
surplus of apples and potatoes, as well as
wheat, corn and oats, and there is no
inducement in the difference in values to
promote transfers of any large quantities.
Thus the volume of business is cut down,
and as regards apples and potatoes such
transfers have in many instances been at
loss to the shipper. Then as regards pig
iron, which is an enormous trade in the
aggregate, prices have been close to the
cost of prod uction all summer, and while
the movement from the furnaces was large
The lover prices prevailing, In common
with many other articles, tended to reduce
the bank clearipgs on business arising from
that industry.
While, therefore, the country is teeming
with abundant crops, and gold is coming to
us from Europe, and while there is ability
on the part of consumers to absorb rather
more than the usual quantity of goods-ap
ability which they are apparently exercis
ing, there is decrease in the clearipgs Of
the banks when compared with last year
The reason for this is indicated above, but
another cause may be found in the greater
ability TO psy for purchases on the spot
It is a larger volume of credits which
makes increased business for the clearing
houses when such credits fall due, and
previous purchases having been paid for to
a large extent, this source Of clearings is
now wanting.