Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1892-03-09
Com MERCIAL And FINAN CIAL
THE GRAIN TRADE-CROPS, sc.

The Cincinnati Price, Current of March
3rd, says
"Our correspondence this week very fully
covers the winter wheat regions of the West,
and reflects generally favorable condition
for the plant in its backward condition of
growth with a manifest improvement during
the past two weeks in nearly all districts.
Notwithstanding the better appearance of the
wheat fields there is much fear of injury to
the plant during the coming month, owing to
its tender condition.
| There is such an extent of bad condition of
wagon roads in the West that both wheat and
ent The indications are that supplies of
grain are liberal in a large proportion of local
tiles, and that at moderate improvement in
prices there would be free selling.
There are further indications of improve
| ment in the interior trade for flour. with
steadily diminishing stocks.
The export movement of flour the past two
weeks has been extraordinarily large.
AT Chicago the tendency of wheat prices has
been almost steadily downward during the
week with some reaction yesterday, the latter
being due to no special cause apparently other
wise than on the view that prices had in fact
settled too low to be in line with general con-
victions.
Total wheat on passage this week SO, 800, 900
bushels, against 80, 100, 900 last week, and 25,-
DIG, 900 last year.
Wheat receipts at primary markets were g.
SIS, 900 bushels for the week, against 80 900
1 L,
Corn receipts were 3,471, 900 bushels, against
3,SS4,OOO the preceding week, and 1921 900
last year."
FINANCIAL.
| From the weekly Financial review of Mr..
Henry Clews, dated March 9Th, we make
| the following extracts =
1.-THE Stock Market is flooded with mys-
teries," and rumors of gigantic railroad deals
upon an unprecedented scale as being either
in progress or already accomplished. Details
of these have filled the daily press for weeks
/ past but only such operators as are within
the charmed circles appear to know the true
inwardness of many of them. As conse-
quence, judgment passes for little in estimat-
ing the future value of many securities, fol
the market is almost wholly under the con
troll of comparatively few persons, whose
operations must inevitably influence the value
of thousands of millions of stocks and bonds
Never in the history of Wall Street was the
value of such an enormous aggregation of Sc
cJlrities so absolutely under the control of Sc
small a circle as at this time Such state o.
affairs cannot be considered satisfactory be
cause not only is speculation likely to be un
healthily stimulated but the future of thes,
combinations gives birth to a variety of un
certainties which, while they may elevat
prices, will certainly not add to their stability
There is little question but that in the enc
, some of these combinations will work for tn
J best interests of all concerned; but in proper
ton as their result means increased profits t
L capital without corresponding benefits to tn
! masses and so far as their effort is to restric
competition we may sooner or later, expec
the awakening of active public hostility. Az
! gressions of this sort by capital are sure to b
8 followed by reprisals on the part of labor
+ while the demagogue in politics requires n
better material for his anti-monopoly cry tha
these combines to restrict competition, an
f the labor agitator finds his best argument fo
. a strike in the increasing profits of capital"
/, He attributes the return of our securitie
from Europe, and the export of gold, in grea
: part, to the advocacy and probable adoptio
of the free-coinage of silver policy, and says
4 'The silver mania is bringing us much neare
to perilous verge than it is pleasant to cor
template, and that unless the madness of fire
silver agitation can be in some way stayed, W
may witness serious disturbance of publ
confidence much earlier than has been SUI
posed possible. Under these circumstance tn
main hope of Wall Street is in the possibl
formation of International Conference t
settle the whole silver problem upon broa
and sure foundation. Secretary Fosters Wis
to Europe for the understood purpose of cor
ference with the British Government is there
fore hailed with great satisfaction as affordin
the only way of escape from grave possibil
ties"