The Helena independent., 1892-06-24
THE FINANCIAL REVIEW.
Estinates 0f Crops for the Yesr and the
EffHot ON 6psCuIatsn.

Effect ON Speculation.
NHw YonK, June %. Especial. The last
circular issusd BY the banking house Of
Henry Clsws h Co., II, 10 and 10 Hroad
street, and % Wall strsaS, aaya: During the
past week mush OF the business on the
stock exchange has grown out Of ths efforts
J Of the ''bsAr" operators 10 get ont Of the
false position In which they had placed
themselves BY over disaounting tho worst
probabilities connected with the lats storms
and the crop situation. Large snouats Of
'shorr' contracts have had 10 10 covered,
and that n the facs Of buying orders from
London and also from outside operators.
Apparsntly the ''short' interest has been
mainly covered. except In one OF two spe-
oialtisa, snch a Rock Island and q. II 4
@. and tho demand thus induced has
caused general advance in pficeG The
rise IN values has brought ont moderate
anount Of long stock, which tor the mo-
mont checks The upward movement; but
the predominant feeling ID one OF increased
oonadsncs.
The report Of tho department Of aRsioul-
turs on ths condition Of tho growing crops
removes the past miagivinRs as TO the pros.
poets Of whsst. The general average COM
dition Of winter wheat ID reported a. 8S.8.
Il ID 10 bs remembered however. that since
the date Of this report the weather has been
stimulating and generally favorable
through the entirs wheat belt; 20 that re-
port q for ths present date would, il Ill
probability, present still higher average
condition. n 1891, the June condition
about tho same a. that Of 1891. any differ
enco from last years extraordinary crop
must arise entirely from variations In con.
dition. As to spring wheat. the area u
about the same ~ last year; but some
doubts have bsen entertained respecting il
laysd the planting. II WAS therefore .
much moro Welcome exhibit than had bsen
expected whom the official report gave the
average condition on Juns ~ 923 oom-
pared With .sa sse s lass y.asr A. the
would seem safe 10 estimate the re-
duction of the winter and spring crops
from last years figures - not exceeding
900 bushels. II to this wers add cd
the unusual surplus carried over from last
able supply for the new year is likely to
closely approach that Of last season. In
the minor cereals also the showing Of the
official report IL very satisfaotory. ~ will
appear from the following comparison -
for June !: Rye in 1892. 81. In 1891. 50. I;
82.1, and in 1891, 9O.3. The corn crop sill
remains in 80 much uncertainty that it Is
oot Of the question to venture upon any
approximate estimate in respect to II; the
most sanguine reports, however. do not
aretsnd 70 ccmpsr: i With that Of Last ysar:
1891, and although II 10 generally reported
to be making good progress. yet the late
ness of the planting can hardly fail to ex-
rose it to more than the usual risk from
early frost. This fact holds the stocks Of
the corn railroads in suspense.
The situation of the cotton crop cannot
be regarded ~ satisfactory. The official re.
port gives tho condition ~ about the Same
as year ago. 85.9 against 85.7. The same
report places the decreass In ths area
planted as 1876 per cent. which We take to
include the distinctions Of crops caussd by
foods; but As this estimate is based on
plantera' information II probably more
than states the actual decrease. AZ the |
prospect stands at the moment, therefore,
the decrease in this crop 10 not likely to
come at all near to what is needed to put
the cotton trade In safe and normal posi-
tion. II must be remembered. however,
that the rate Of yield last year was much
above that Of previous years, being thirty |
TWO pounds per acre above the average OF
the seven next preceding ysars. Az planters
for buying fertilizers, IL il not at all un-
likely that some important decrease Of yield |
may OCCUR from that cause; which, added
TO the decrease Of acreage. may cause the
output to fall below tho figures now in
dulged in BY premature calculations At the
special injury from the snti-option bill !
passed BY the house Of Representatives and
awaiting the decision Of the senate. II is now
reported that thsro Is less certainty of the
senate rejecting tho measure than has been
supposed to exist. owing to the farming
nd nj int hav NJ hrov hksh
pressure to bear upon loading senators.
However this may be, the possibilities Of
the case are causing serious obstruction to
not only the cotton trade bat also to q wide
range Of other interests. We learned that
at Liverpool arrangements are in contem-
plation for taking up the American option
business, il it by law becomes prohibited in
this country. This would give to England
the complete control Of the cotton markets
of the world. seriously to the cotton grow
ers' detriment in this country. Tho ques-
ton arises-where would tho planter stand
in the event of the American dealers being
prevented from buying for future delivery?
It ia impossible to conceive anything moro
fatuously blind than this attempt to limit
dealings. in our chief staples to spot"
transactions.
In spite, however. of the uncertainties at
present surrounding our corn and cotton
crops, the country has now tho promise of
another year of abundance, which is calcu- |
lated to strengthen our Investments and to |
stimulate the revivinR Eu opean demand |
for them.
Little Girls Experience in Lighthouse |
Mr.. and Mrs. Loren Trescott are keepers
of the government lighthouse at Sand
Beach, Mich, and are blessed with daugh-
taken down with measles. followed with a
dreadful cough and turning into q fever