Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1892-08-10
COMMERCIAL and FINAN CIAL
THE GRAIN TRADE-CRoPS. &C.

AUGUST
4th, says there were apprehensions that the re-
cent period of exceedingly hot weather in the
West would prove quite prejudicial to the corn
| crop, bat the evidence in the case gives little
support to such view Where there was not
essential lack of moisture the warmth proved
forcing to growth. The areas of impairment
from heat, are unimportant
The general condition of the corn crop con-
tinues irregular, and as a whole far short of
promise of full yield, but the month of July
met general expectations in favorable infu-
ence on the progress of the crop, so that the
first of August justifies calculations of approx
imately $500 900 bushels, which is close to
the maximum that can be counted on under
the most favorable conditions the remainder
of the season.
Wheat threshing returns develop nothing
essentially new. The average yield does not
appear to exceed the indications heretofore
suggested, and as a whole will fall consider
ably below the early calculations.
The indications are that the average weight
of wheat this season will be lower than usual
but it is believed the -four making quality of
the grain compares well with last year. Tests
OF the light weight grain already marketed
support this view.
There is nothing in the general outlook of
the worlds wheat crop and surplus carried
over to indicate that the aggregate for the GER
cal year now opening will be greater than for
the preceding year.
The speculative wheat market at Chicago
has been rather quiet and within moderate
range during the week, closing slightly higher
than week ago.
The corn market at Chicago has been fairly
steady most of the week. closing about the
same as a week ago.
Total wheat ON passage this week % COS, 900
bushels, against %, 256 900 last week, and 3d.
AS, 900 last year.
Wheat receipts at primary markets were s.
1S,OOO bushels for the week, against 4646, 600
the preceding week, and 7, 161 900 last year.
Corn receipts were 1 ,455, 900 bushels, against
1,534,OOO the preceding week, and 2,259, 900
last year,
FINANCIAL
We quote the following from Henry Clews's
Financial Review of August 9Th = \
Liz HudIkel SiOWly Dut SURELY gains IN
strength and breadth. Some interruption Of
the advance has occurred through unfavora-
BILE circumstances and the absence of large
operators at the various summer resorts But
this is of little consequence; in fact, it is more
desirable that the first stage of the advance
movement should be slow in order that the
foundations, as to speak, have ample oppor-
no har do
tract general buying of stocks; and the surest
means of restoring confidence is by slow
and persistent advance, such as has been shown
during the last fer.F weeks
In previous advices have given list of
twelve reasons leading to belief in higher
prices. These same reasons are still in force
and will bear re-emphasis. There is every
reason, also, to believe that business will be
disturbed much less than usual this President
ial year. The political battle, believe, will be
fought almost entirely upon one or two strict
ly economic questions, and the struggle will
be remarkably free from the personal and sec
tional feeling usually aroused in National
election, chiefly because of the exceptional
character of both candidates Whichever is
successful, it is morally certain that business
will suffer hut little in final results by the
coming campaign, so far as applied to the Ex-
ecutive branch of the Government. y
The crop situation has certainly shown much
improvement over last month. No one now
expects such a prolific yield as last year; nor is
such desirable in view of present low prices
and that Europe's requirements next season
will be much less urgent Experience has
proved that fair crops at fair prices are the
most satisfactory to growers This is what we
are promised this season. Last season we suf-
fered from an overproduction of cereals and
cotton in spite of the short crops of Europe.
Our farmers and planters are still suffering
from this cause; but the diminished yield of
cotton, corn and wheat this forthcoming year
ought to bring them some relief.
In conclusion, the situation is an encourage
ing one, and the facts certainly warrant an
improvement in the values of better grade
securities, with which the less desirable issues
would of course sympathize to fair ratio ex-
tent.