Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1892-04-27
COMMERCIAL And FINAN CIAL
THE GRAIN TRADE-C CROPS. &C.

2lst says that excessive moisture is reported
from large breadth, in the West, and spring
planting operations have been retarded The
sowing of oats has been so much DELAYED in
many localities that it is expected the area will
be lessened thereby. An enlarged area in
corn appears to be planned for
The weather conditions the past week have
maintained the general status of the winter
wheat and rye crops, and seasonable develop
ment has occurred without any material
change in conditions otherwise
Preparation for corn planting has been in
terfered with to some extent, but if favorable
conditions should prevail hereafter there will
be ample time for this crop.
A feature of the past month has been the
lack of warmth sufficient to bring forward
pasture, and the feeding of stock has thereby
been prolonged. Another feature in the West
Is the encouragement of low prices for cattle,
which has led large number of the feeders to
hold on to their cattle, hoping for better mar
kets. This has had some influence in curtail-
ing the shipping movement and charging the
consumption of corn.
The weeks movement of wheat shows some
|
spring grain markets. in comparison with the
preceding week, but the total was smaller than
any previous week in two months. The visi-
| BILE supply of wheat was increased S7S 900 BUSH
els, and while the total is large it is smaller
than at corresponding time in 1885, 1886 and
| 1887, but there is more in what are termed
private warehouses than in those years, so that
the total of warehouse stocks is probably larg-
er now than in any previous year at cores
ponding time in the season.
| Of the 250,000,000 bushels of surplus wheat
this year there has now been exported since
July approximately 1SS, 900, 900, leaving 81,
100000. Of this, at the recent rate of move
ment, about 81, 100000 more will go out by
July l, leaving 10000, 900 in excess of the sup
plies last year on July 1. All things consider
ed this will not be large quantity to be car
ried over from the late crop
The speculative wheat market at Chicago has
been irregular during the week, closing 1a14c
lower than week ago.
The -four trade is without new feature, the
lrofferings being ample in all the centers, and
i1,np.special snap in the demand, although the
current distribution is of good volume as a
whole
Mail advices concerning crop conditions in
Europe indicate fairly encouraging conditions
for wheat in England, with more warmth and
moisture desired; area in wheat understood to
be reduced In France conditions generally
promising for wheat and rye; limited extent
of reseeding required; crops on the whole sat
isfactory. In Belgium, conditions reportef as
very satisfactory. In Holland, wheat prornis-
ing well, but some drawbacks to rye. In Ger
| many, the weather has been seasonable, and
autumn-sown crops appearing well. In Hun
gary, some complaint of autumn-sown crops
not doing well, and reseeding required to some
| extent; spring seeding terminating well. In
Italy, wheat said to be promising well. In
Spain, cereal and other crops have suffered
from unseasonably cold weather In Russia,
crop conditions developing fairly well as
whole, but considerable doubt as to cereal
crops reaching an average position.
Total wheat on passage this week 81, 440, 900
bushels, against &c, 1896, 900 last week, and ST.
$4,000 last year.
Wheat receipts at primary markets were g.
059OOO bushels for the week. against 2,547, 900
the preceding week. and ,416,0O0 last year.
Corn receipts were l ,492, 900 bushels, against
,S95, 900 the preceding week, and 17S0, 900
last year.
FINANCIAL.
In his weekly financial review, dated April
Ord. Henry Clews says
Affairs in Wall street begin to show more
animation On the one hand, the ''bear'
commitments have subjected that class of
operators to pressure from the bulls which
at times develops some lively skirmishing
and, on the other, the unsettlement of the an
thracite interests through the recent Reading
deal causes frequent large transactions in that
class of securities, which imparts certain de-
gree of speculative interest to the general list
AT the moment, these are the principal causes
conducting to the growing interest in the mar
ket; but though restricted, these influences are
attracting the attention of outside operators
and may possibly lay the basis for still more
active movement later on. The predominant
attitude of the speculative interest seems to be
that of expectancy. Although at the moment
there is some disposition to defer transactions
until the further development of crop pros
poets, yet the preponderant tenor of influences
bearing upon the course of prices is construed
as favorable.
There are now before us four clear months
during which there can be no doubt that
money will rule at excessively low rates; and
a like ease may be expected to prevail in the
money markets of Europe. A great hope be-
gins to dawn upon monetary affairs in the
now assured prospect that a worlds confer
ence will soon assemble for celebrating upon
the silver question, the invitations for such
congress having been already issued by the
State Department and assurances received that
England, France, Germany, Italy and Austria
Hungary will accept. That prospect is the
more assuring because the promotion of the
conference has been cordially encouraged by
Great Britain,-the country which hitherto
has most persistently opposed all international
endeavors to restore the status of silver as a
coordinate currency with gold England's
new attitude in this matter is the more i'm
portant because it plainly implies that recent
experience is viewed as having demonstrated
the maintenance of silver to be commercial
and financial necessity,-an argument which
is tenfold more effective for action on this
question than any mere theoretic reasoning.
So far as can be at present judged, it seems
quite likely that the conference will develop
much more friendly attitude towards silver
than has been exhibited at the international
gatherings for similar purposes held within
the last few years. Should the chances of
success in the conference become conspicuous
ly apparent, the effect could not fail to be i'm
mediately beneficial upon confidence. And,
in the event of an international agreement be-
ing finally accomplished, such result could
only be received as an incalculable gain to the
future of finance and trade among all the
commercial nations. 1t is therefore not too
much to regard the anticipated negotiations as
the introduction into the financial markets of
an clement of the highest importance and
which may be reasonably expected to operate
in hopeful direction.