Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1892-08-31

The Cincinnati Price Current of August
18th, says -
Corn crop returns are quite variable. In
various localities the conditions have been
quite encouraging for progress of the crop-in
other instances there has been unmistakable
deterioration. 1t appears evident that the gen.
eral promise of the crop has not been more
than maintained, possibly lowered
Winter wheat threshing from shock is near
ly completed, so that there will likely be some
farms in the near future, for the situation
does not encourage activity in threshing stack
ed grain, under current values.
There are further indications of disappoint-
ing yield of spring wheat in the Northwest,
and the tendency to reduction in estimates of
the winter grain as the harvesting progressed
is being repeated in the spring grain.
1t is pretty clear that while the season has
been generally favorable for securing grain, in
the harvest period, there is a large proportion
of light weight and inferior wheat, and quite
likely this may prove an important factor in
retarding tendency to higher values.
If the free movement of wheat from farm
ers now shown is continued it will be counted
as an element of strength later on, when the
control becomes more largely centered in deal
ers.
The aggregate receipts of wheat at primary
markets for the week have probably never
been exceeded in any previous like period.
The later information concerning oats is
not more encouraging as to yield or quality.
The Chicago wheat market has been easy
most of the week, closing with decline of lie
on September and lie on December, compar-
ed with week ago.
The Chicago corn market has held up well
during the week. closing easier September 4c
lower than a week ago, and May fc higher.
Total wheat on passage this week 25, 10000
bushels, against 81, SOS, 900 last week, and &c.
SIS, 900 last year.
Wheat receipts at primary markets were s.
500, 900 bushels for the week, against I, 10000
the preceding week, and {. 537 900 last year.
Corn receipts were $3.50, 900 bushels against
$4,000 the preceding week, and 2, $4,000
last year"
FINANCIAL.
The following are extracts from Henry
Clews' financial review dated August 9th =
The Stock Market did not disappoint expec-
tations, Prices have experienced good adj
vance, and indications are still favorable. As
already maintained in these advices, the basis
of the present advance is the confidence of the
big holders of stocks in the future develop
ment and resources of the country. Our com
mercial and industrial interests are now en-
joying a very fair share of prosperity. Bust
ness is not only on a larger scale than ever be-
FORE as demonstrated by clearing house re-
turns and railroad earnings; but it is also in
exceptionally sound condition. This state
ment is confirmed by the small number, as
we'll as the character of business failures.
Agricultural interests are also in good shape;
as, in spite of smaller yields of wheat, corn,
cotton and other products, we SHALL with last
season, surplus have sufficient ana to spare
Two events happened during the week I'M
der review which very materially strengthen
ed the market, viz, the Texas railroad decis-
ion and the collapse of the Buffalo strike.
| Judge McCormicks decision that the State has
not the power to prevent railroads from earn
ing reasonable profits is one of the most inn
portant and far-reaching decisions OF the day.
| 1t will undoubtedly be confirmed by the Su-
preme Court of the United States. y
| The future of the market certainly seems
favorable. In addition to the facts just men
| toned, stocks are in strong hands and money
| promises to remain easy, even though rates
show more firmness. The renewal of gold ex
ports attracts little attention, because each
day brings us nearer larger supply of grain
and cotton bills usual in the latter half of the
year. Upon any sharp or extended rise
would advise realizing; but in the absence Of
unfavorable developments good stocks are 9
purchase on the breaks.