Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1892-04-13
COM MERCIAL And FINAN CIAL.
THE OBSERVATION-DISCLOSURES, sc.

! The Cincinnati Price Current of April
It'll says that the past week has been favorable
/: for the wheat crop without being especially
the West there has been an excess of moisture,
and considerable warmth, which have favor
J ed fali-sown crops, and grasses.
| Some further time will be needed to reach
reliable conclusions as to considerable part
of the wheat area. 1t is generally conceded
that early-sown grain is pretty uniformly in
satisfactory condition, but much of the late
sown will undoubtedly be abandoned, or will
fall far below satisfactory yield.
The Government report for April will ap-
pear this week, and the prevailing expectation
appears to be that it will indicate about SIS for
winter wheat, compared with 969 year ago.
1t is reasonable to expect, however, that as
compared with the results reached last year
| there will be a wider difference than these
| figures Shows although last year furnished q
lesson as to possibilities beyond ordinary ex-
pectations which may as we'll be held in re-
membrance.
| Excessive moisture in the West serves to re-
| tard movement of grain, and holders of win
ter wheat with moderate exception are not
freely offering the grain at current prices
| Country millers in some instances are secur-
| ing stocks of flour in the centers, for their
trade, being able to do SO to better advantage
than they can make it. In other instances
they are placing orders to an increasing extent
in the centers for wheat to operate with.
These are some of the factors pointing to a
1
better shaping of the -four and wheat trades
and Notwithstanding the fact that new har-
vest is approaching, and that the export move
ment is not likely to dispose of all the surplus
wheat the fact that the worlds wheat crop in
| 1892 is not likely to equal 1891, with other
favoring phases, serve to give much of encour-
agement as to the future of values.
Total wheat on passage this week 35, SS8, 900
| bushels, against So $685. 600 last week, and &c.
! 500, 900 last year.
Wheat receipts at primary markets were g.
800, 900 bushels for the week, against 3,760,O00
the preceding week, and $4,000 last year.
! Corn receipts were 3, PIC, 900 bushels, against
3, 236,O0O the preceding week, and 1,413, 900
last year."
FINANCIAL.
From the financial weekly review by Henry
Clews dated April 9th, we quote the follow
ing
The course of affairs at the Stock Exchange,
for the next few months, is likely to depend
principally on the following factors;-D The
prospects of the crops; (2) The course of the
money market; (3) The course of the foreign
exchanges; a. The action of our own and of
foreign governments in respect to the restora-
ton of silver; (5) The movement of our secur-
tiles held in foreign countries and (6) The
condition of domestic trade
As to the first of these conditions, all is yet
in the future. All that can now be said Is
that Winter grain has withstood successfully
the adverse incidents of weather and storm,
and that the Spring opens with good prospects
for that part of the wheat crop. For the rest,
all must depend upon the'uncertainties of the
weather of the next three: or four months.
1t is to be remembered,i however, that the
large stocks of agricultural products still ON
hand from last years crops amount, for all
practical purposes, to the same thing as an as
surance of liberal harvest; for the slacken-
ing of the European demand for our grain and
part of the world have been largely satisfied;
and we shall therefore enter the next crop
year with surplus so large that, even should
our crops prove light, we shall have about an
average supply available for export. This is
an assurance of no small value to the country
at large and especially to the railroad interest.
In respect to the Loan Market, scarcely a
doubt is entertained in any quarter as to the
continuance of the prevailing ease throughout
the summer. The low prices of wide range
of products diminish the amount of money
required for handling them, while the issue of
81, 100000 ofinew money each month and the
unusually high range of the reserves of the
banks foreshadow easy rates all over the coun-
try.
1t is not easy to forecast the course of the
foreign exchanges for the next few months.
For the last month, the tendency has been
towards an increase of our imports and a de-
crease in our exports, is a distinct
change from the course of the preceding
months. The truth is that the depression of
business in Europe has checked the demand
for our products from that part of the world,
while on the other hand low prices abroad and
necessity among foreign producers to sell
have tended to swell our imports. In this
way, the anticipated effects of our extraordi-
nary crops have been thwarted and we have
been exporting gold when we expected to be
importing it in large quantities. it remains to
be seen how much farther this tendency will
run during the Spring and Summer. Very
much no doubt must depend ON what may be
done in respect to the silver question and ON
the effect of such action upon our securities
held in Europe.