The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1892-06-21
WALL STREET VIEWS.

| WALL STREET VIEWS.
! New York, June 20-The weekly finan-
cial circular of Henry Clews g. Co., among
| other things, SAYS:
1.-The report of the department of agri-
| culture on the condition of the growing
crops removes the past misgivings as to
! the prospects of wheat. The general av-
erage condition of winter wheat Is report
ed as SS3 1t is 10 be remembered, how
ever, that since the date OF this report the
| weather has been stimulating and gener-
ally favorable through the entire wheat
belt; so that a report for the present date
would, in all probability, present still
higher average condition. In 1891 tie
June condition was 96.G. AS the acreage
of this year is about the same as that OF
1891, any difference from last years extra
ordinary crop must arise entirely from
Variations of condition. AS to spring
wheat, the area is about the same as
last year; but some doubts have been en-
tertained respecting it, in consequence of
the storms having delayed the planting.
IL was, therefore, much more welcome
exhibit than had been expected when the
official report gave the average condition
on June as 90 3, compared with 926 last
year. AS the indications stand today.
therefore, it would seem safe to estimate
the reduction of the winter and spring
crops from last years figures as not ex-
ceedng 100000, 900 bushels. If to this were
added the unusual surplus carried over
from last crop, it would appear that the
total available supply for the new year
is likely to closely approach that OF last
season. In the minor cereals also the
showing of the official report is very
satisfactory, as will appear from the fol-
lowing comparison AS for June 1st: Rye
in 1892 81, in 1891, %. 4; oats in 1892 IS ), in
1891 So; barley in 1892, gal, and in 1891.
903 The corn crop still remains in SO
much uncertainty that it IS out OF the
question to venture upon any approximate
estimate in respect to 1t; the most sangulne
reports, however, do not pretend to COM
pare it with that of last year. The acreage
is likely to fall below that eff 1891. and
although it is generally reported TO be
making good progress, yet the lateneSS or
the planting can hardly fail 10 expose it to
more than the usual risk from early frost
This fact holds the stocks of the corn
railroads in suspense.
The situation OF the cotton crop cannot
be regarded as satisfactory. The official
report gives the condition as about the
same as a year ago, S5 against e57. The
same report places the decrease III the area
planted as 1866 per cent, which we take to
include the destruction of crop caused by
the floods; but as this estimate is based
upon planters Information it probably
more than states the actual decrease. As
the prospect stands at the moment, there
fore, the decrease in this crop Is not likely
to come at all near to what IS needed TO
put the cotton trade in safe and normal
position. 1t must be remembered, how
ever, that the rate of yield last year was
much above that OF previous years, being
80 pounds per acre above the average OF
the seven next preceding years.
As planters have not this year
had their usual means :or buy
ing fertilizers, it is not at all unlikely
that some important decrease of yield may
occur from that cause; which. added to
the decrease of acreage, may cause the
output to fall below the figures now in
dulyed in by premature calculatorS. AT
the moment. this staple stands exposed TO
special injury from the anti option bin
passed by the house Of representatives.
hnd awaiting the decision OF the senate.
1t is now reported that there is less GER
taiuty OF the senate rejecting the measure
than has been supposed to exist, owing to
che farming and planting interests having
brought sharp party pressure 10 bear upon
leading senators, However this may be,
the possibilities of the case are causing
serious obstruction to not only the cotton
trade but also to q wide
range of other interests. We learn
that, at Liverpool. arrangements are
in contemplation for taking up the Amer
ican option business, if it by law becomes
prohibited in this country. This would
give to England the complete control of
the cotton markets of the world, seriously
to the cotton growers detrimenJ in this
country The question arises-where
would the planter stand in the event of
the American dealers being prevented
from buying for future delivery? II is
impossible TO conceive anything more
fa uousiy blind than this attempt TO limit
dealings in our chief staples to spot
transactions.
in spite, however, of the uncertainties
at present surrounding our corn and cot
ton crops, the country has now the promise
OF another year of abundance, which is
calculated 20 strengthen our Investments
and to stimulate the reyivlng European
demand for them"