Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1892-01-06
FINANCIAL AND COMMERCIAL.
THE GRAIN TRADE, CROPS, &C.


says that during the past week the Central
West has experienced pretty hard freezing.
something of rain, and portion of the time
quite mild temperature. In some regions 1t is
believed that the growing wheat crop has suf-
fsred some injury, but the extent of positive
evidence of this nature is not i'm portant. The
weeks advices as rule are fully as cheerful
as previously in regard to the condition of the
crop, and calculations concerning the outcome
need not be modified by what has already oc~
CURED. The one feature OF significance is that
the lateness of termination has deprived the
plant of Its usual growth for the time of year,
and it is considered that the plant is to great
extent 30 tender as to be NOR than ordinarily
susceptible to injury from hard conditions of
TIA csather. These conditions still remain to
he exnerieS7,sd-and while they are liable to
overtake the crop t tsfao fact remains that possi-
bilities admit of fairly gooussuscoihe'
The movement of grain and othef<yauce to
shipping points has been interfered with by
bad condition OF wagon roads in a large por-
ton OF the West. This has probably been felt
more particularly in corn than In wheat. 1t is
evident that rather liberal quantities of corn
will soon be available If weather conditions
favor, although the recent declining tendency
OF values has to some extent lessened the In.
clination to sell.
The speculative wheat markets have not de-
veloped much strength during the week, prices
having settled somewhat at Chicago, closing
fractioDally lower than week ago. The trade
seems to be shaping expectation q little more
in the way of improving values in the near
future.
The corn market has been little easier with
out special concession in prices during the
week.
Total wheat on passage this week 81. coo
bushels, against 3i.645 900 last week, and q 04S
900 last year.
Wheat receipts at primary markets were
1929 900 bushels for the week, against 1874 900
the preceding week. and 2. 467 eco last year.
Corn receipts were 329l.OGO bushels. against
$3.50 900 the preceding week, and 10000 last
year."
FINANCIAL.
From the weekly financial review of Henry
Clews dated January End, we extract the fol-
lowing:-
The year 1892 opens with promising material
prospects for the United States, and yet with
some legacies of misfortune from 1891 which
are calculated to qualify our hopes.
If the past year has been one of unprecedent.
ed harvests and. as such, has conferred inesti-
mable benefits upon our long depressed agri-
cultural interest 1t has also been ore OF check,
reaction and dizziness to most OF our manufac-
turing industries Constituting as we do an
part OF the community of nations,
it has been impossible for us to wholly escape
the effects of the European reaction that set in
with the crash OF the Earrings
II we may give full credit to what is reported
from Washington as to the Governments adj
vices from Its agents deputed to ascertain the
of assembling a congress to re-
establish silver upon an International basis
there lisa very unexpected disposition amount
ing almost to anxiety, on the part OF European
governments. including England, to consider
such proposals; and the overtuIes openly
made by Chancellor Goschen certainly give
not a little eredibIlity to these reports Should
1t turn cut, within the next few months, that
the principal nations are willing to bind them.
selves, along with the United States, to coin
silver without limit as to amount. at the ratio
of l51z to l, and to constitute such coin legal
tender equally with gold the effect would be
TO place the now sensitive national banks of
Europe upon broader footing OF available re-
serves, TO infuse new confidence into all the
financial centres. and to substitute, for the
distrust caused by one half the worlds metal
lie money being now unavailable for interna-
tional use, the buoyancy that would naturally
follow the restoration of silver to It's old time
universal availability. We are Inclined to re-
gard this contingency as bsirg sufficiently
probable to warrant its being hopefully watch 1
ed. Should it be realized 8 dark shadow
would be lifted from large class OF our securi-
ties against which there Is now a distinct dis.
elimination, especially abroad, as being pos
sibly payable in silver.
So far as respects the prospects arising from
purely domestic conditions they are almost
without exception favorable to the value of
stocks. The atuadanG crops can hardly fail to
produce better state of central trade than ex.
listed through 1891. The earnings of the rail-
roads, net as we'll gross, afford promise of
surprising all precedent. The flash condition
of the bank reserves. the promise of further
considerable return of gold from Europe, and
the continued Issue of over 4,5OOOOO of silver
currency per month, have combined ten.
dency to produce, an abundance of money and
low rates of interest; which would strongly
favor an Improvement in the market value OF
stocks and bonds alike, and conduce to activi-
ty in speculation,