Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1892-05-04
COM MERCIAL and FINAN CIAL.
THE GRAINTRADE-CROrs, sc.

The Cincinnati Price Current of April
| 18th says
''rhe past week has been COOL becoming
warmer and more seasonable at the close For
several days past there has been a cessation of
| rains in various districts where there had been
an excess, but in some localities the delay in
| farm work is still reported As whole the
| season is a backward one. The weather has
not been unfavorable to wheat except in some
special instances and the crop is making good
advancement as rule. Taking Ohio, Ken
tucky, Indiana and Illinois together there is a
fairly good but not fully average condition of
the crop. In Michigan the position has been
somewhat impaired in the recent past In
Missouri there is no essential change the aver
age condition being decidedly below normal
In Kansas the promise is quite irregular but
better than in Missouri
Information from the Northwest indicates
an advanced condition of seeding operations
in large BREADTH but conditions are irregular.
| and much of the seeding has been retarded by
excessive moisture. There is nothing definite
ly discouraging to any appreciate extent in
the spring wheat regions, but the position is
not positively assuring.
| The week correspondence emphasizes the
previous intimations of lessened acreage of
oats IN many portions of the West. There is
| evidence of intended enlargement of the corn
| crop area
Mail advices do not indicate essential change
| in crop prospects abroad, which on the whole
are fairly good.
In the speculative wheat trade the interest
| has been largely transferred TO July, for which
prices at Chicago at the close are slightly high
| er than for May, Compared with week ago
| the close for May is unchanged and for July
is &c higher.
| Total wheat on passage this week 49, 112, 900
bushels against 81, 440, 900 last week. and 49,
| 264, 900 last year.
Wheat receipts at primary markets were g.
961, 900 bushels for the week, against 3,O59 900
the preceding week, and 800. 900 last year.
Corn receipts were 1914 900 bushels against
| $4,000 the preceding week. and /, $40 900
/ last year.
FINANCIAL.
In his weekly financial review dated April
Both, Henry Clews, says
The Wall Street markets continue yacillat-
ing and uncertain, though fairly active Dur
ing the past week, 'bear'' influences have
seemed to preponderate. London has shown
some timidity and disposition to realize not
withstanding the growing ease in money
there, and the selling here on London account
has stimulated the export of gold, which again
has affected the Stock market unfavorably.
The uncertainty about the relations between
the Pennsylvania Railroad and the combined
anthracite roads has not disappeared and still
continues to throw certain degree of doubt
around that important group of stocks while
the weather of the week has contributed moth
ing towards solving the uncertainty that hangs
around the crop prospects. In the absence of
any important immediate counter factors, this
group of influences has produced preponder-
ance of selling over buying and the tendency
of prices has been downward. But, at the
same time, the "bull' side maintains its cour-
age and shows no abatement of confidence in
future higher range of prices; but seems
Quite willing to allow ample rope to the bears
for creating short interest y
The position of the grain trade seems to fore
gold. The important information contribut-
ed by our Minister at st. Petersburg as to the
situation produced by the great famine of
Russia warrants the conclusion that virtually
no export of grain may be expected from that
country out of the next crop, and it is likely to
require years to restore Russia to her former
status as source of cereal supplies. A very
large hiatus IN the worlds product of bread
stuffs is thus created and it will devolve chief
ly upon the United States as the principal ex-
porting country, to fill the vacuum. The in
ference from this prospect is that, if we have
another good crop year, We shall nevertheless
realize higher prices for our grain and, if we
should have poor crop, the consequent still
higher prices obtained for the surplus of one
hundred million bushels of wheat to be car
ried over into the coming crop year will be an
abundant compensation for the failure, whilst
we shall be likely to be enabled to keep our
stock of gold in good shape. Thus the pros
pect for the future of our agricultural interest
and for the railroad interest so directly de-
pendent upon it may be regarded as more than
ordinarily satisfactory.
The preparations for the proposed Interna-
tional Monetary Conference appear to have
reached point which leaves little or no doubt
about its early realization. From the best
sources of information, we learn that Great
Britain, France, Germany, Belgium and Italy
have already informally expressed to our Min
listers at those courts their willingness to part-
cipate in such conference.
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