Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1894-06-06
COMMERCIAL And FINANCIAL
THE GRAIN TRADE-CROPs, &C,

The Cincinnati Price Current of May 31st
says
In the North west the recent weather condi-
| tions have been neither positively favorable
nor particularly unfavorable and the general
position of the wheat crop in that region is to
be recognized as encouraging.
| In the wheat trade the week has passed
without repetition of new low record al
though the closing at Chicago was fractionally
lower than week ago, and no new element
| of positive strength in the general position is
apparent Should crop conditions be main
tanned as favorabfy as they are now con-
sidered it may be some time before decided
ly improving tendency will be manifested
but the crop may yet be oyertaken with seri-
Gus injury, enough to change the worlds
sentiment with reference to values, and to
give an interesting illustration of the posi-
biities of the SITUATION for important changes
upward from the amazingly low point which
has been reached
The current marketing of wheat is of mod
crate proportions notably 50 in winter grain
districts, while in the Northwest il is believed
that farmers stocks are especially low, con-
dition which is evident in nearly all winter
grain regions.
The marketing of corn has been enlarged,
in accordance with expectations Prices have
been well maintained closing at Chicago
about the same as week ago.
July wheat at Chicago closed l3c below the
highest point of the week. &C. above the lowest
point and-sc lower than week ago.
Corn at Chicago for July closed at the
highest point of the week, 4c above the
lowest. point, and the same as week ago.
Wheat receipts at primary markets were l.
574 900 bushels for the week, against 1,3louO0
the preceding week, and 9, 1873, 900 last year.
Corn receipts were GIL 900 bushels, against
,6n 900 the preceding week, and 2,576,eCO
last year.
FINANCIAL.
The following are extracts from the tinan-
cial review of Henry Clews of June 2nd;-
During the past week. Notwithstanding
the interruption of a holiday, there has been
a distinct improvement in the tone of BUSH |
ness in Wall Street Its main expression has
appeared in the covering of shorts" which |
has created demand favorable to prices, |
while it implies that the bears" have dlscov- |
cred symptoms that betoken coming recov- |
ery IN the market. The most pessimistic ac-
knowledge that the passage of the Tariff BILL |
viewed as an end of suspense, would have an
important effect in the restoration OF general
confidence; and the present situation OF the
measure in the Senate is generally conceded
to be favorable to its final enactment some
time during the current month. This view |
seems to be taken in business circles general
ly and is having its effect in more hopeful
feeling, though not yet in any marked change
in the volume of mercantile transactions.
Wall Street is quick to perceive this new ten
dency al d its bear contingent shows its re-
spect for it, and hence the improving tone we
are able to record
1.-THE various reorganization schemes now
in progress will ultimately have an important
bearing on the market for the better. At
present their progress is slow, because OF OPP
posing factions and the depressed condition
of railroad traffic. But these are only temper
ary difficulties which will quickly disappear
with any improvement in business In this
connection it will be well to keep in mind the
recent unanimous decision of the Supreme
Court of the United States limiting the power
of State Railroad Commissions and prohibit
ing them from putting into effect unfair and
rates. This is one of the most
important decisions affecting railroads an
nounced in many years; for some States had
been so severe and arbitrary in their restric-
tions that they practically amounted to conis-
cation of property, at least so far as profits
were concerned. These facts should be re-
membered by reorganization committees, for
the reason that they materially affect the
earning of profits by some of the embarrassed
roads.