Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1892-07-20
COMMERCIAL And FINANCIAL.
THE GRAIN TRADE-CROPS, &C.

The Cincinnati Price Current of Jul,
18th says, there has been only moderate rain
fall in the West the past week, and condition.
have generally favored harvesting operation,
in regions where crops have matured.
The temperature most of the week has moi
been all that could be desired for corn, but
this crop has made fair progress in growth
In many sections more moisture will be re-
quired to maintain the growth satisfactorily
! The Government report places the average
condition of corn at ST. for the entire coun-
try-which was closely foreshadowed in last
weeks statement of the Price Current and
which view was generally regarded by the
trade as too high it being the fashion to reach
conclusions based ON the apparent condition
in portion of the area only.
Information is charging with reference to
wheat threshing returns. The indications
appear to be that expectations are well main
tanned in Kentucky-probably fully so-and
! also in portions of Ohio and Indiana, but the
average in these two States appears destined
to fall considerably short of the earlier oalcu-
lations, This will probably also prove to be
the case in Illinois, while Missouri may not
fall short, and Kansas will likely exceed the
early estimates. Taken as whole there is
decided contrast in the comparison with last
year, there was remarkable uniformity of
promising condition them and there is great
irresularity now, with disappointments occur
ing more frequently than otherwise in the
tests of threshing.
l.. A.
part of farmers to sell wheat freely but this is
the usual order of things at this time in the
year, In regions where threshing results are
disappointing there is much of inclination to
hold wheat, ON the belief that chances are
against any appreciable decline from current
values, and are much more favorable to better
figures. Thus it appears likely with late
harvesting of the spring grain, that the move
ment OF wheat will not be unusually large for
the season in the next few weeks.
The corn market will be governed by wealth
er conditions. If these should prove decided
ly favorable in the near future current values
could hardly be expected to be sustained. But
IN view of the fact that the surplus States are
the ones in the most doubtful condition it is
quite within possibilities that corn may be
considerably higher little later on-although
III many regions of the West there are ample
supplies of old grain awaiting the evidence of
satisfactory shaping of the new crop, which
stocks are now being tenaciously held With
this is to be remembered that the hay crop is
a large one, and it is being secured in good
condition.
At Chicago the speculative wheat trade has
been lacking particular activity, and the mar
ket has ruled easy most of the week, closing
&c lower than week ago for September de-
livery Corn is 1c lower than week ago for
September
Total wheat on passage this week %, 02i 900
bushels, against %, 1856, 600 last week, and &c.
$4,000 last year.
Wheat receipts at primary markets were 81
100000 bushels for the week, against 3,799,0O0
the preceding week, and !, 100000 last year.
Corn receipts were l ,757, 900 bushels, against
8, S17 900 the preceding week, and 2,461 200
last year"
FINANCIAL
From the weekly Financial Review of Henry
Clews of date July 18th, we quote the follow
ing
THE harvest prospects in all European
countries, excepting considerable areas of
Russia, are hopeful; which,-taken together
with the probability of a surplus of close up
on 200, 900, 900 bushels of wheat being available
for export from the United States,-means
year of cheap bread for the millions of Euro
pean population,-a factor which, in that part
of the world, always contributes to popular
content and the encouragement of trade.
That there is steady, not to say large, i'm
in the volume of home trade now
going forward, is made clear from the fact
that the clearings at the combined Clearing
houses of the country, for the first half of the
year, show an increase of per cent notwith-
standing that the transactions at the New York |
Clearing House have been largely curtailed by |
the creation of the Stock Exchange Clearing |
House. Under the general conditions above
cited, and in view of clearer entertainment
of the results of the harvest-which still re-
main a matter of uncertain estimate-it seems
to infer that, after the quiet of the
Summer recreation, the men of Wall Street |
will awake to the appreciation of situation
exceptionally favorable to the value of secu-
rites"