Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1894-06-27
OMMERCIAL AND FINANCIAL
THE GRAIN TRADE-CROPs, sc.

THE GRAIN TRADE-CROPS, &C.
The Cincinnati Price Current of June 2lst
says
Nothing has occurred during the week T.
unfavorablY change the outlook concernin'
the Winter wheat crop. Where harvesting
has begun, in localities bordering on the Obi
river. land southwark, and in Missouri, etc.
the adviees indicate as favorable results a
have been expected, and generally satisfactor.
as to quality of the grain.
In the North vest the lack of moisture ha
interfered with seasonabe growth of wheat t.
a considerable extent, and the effects are be
coming more pronounced in some regions
the general position of the crop is less assur
ing than heretofore, and is critical over a con
siderable area. To what extent a favorable
change may influence a restoration of promis,
is problematical.
In Ohio the wheat crop continues in goOt
condition; cutting commenced in some south
ern localities. Corn growing we'll. Oats do
ing fairly WELL Rain still needed in many
places.
In Indiana wheat is generally appearing
well. Corn making good growth as a rule
needing rain in some places, general position
improved. Oats crop quite irregular.
In Illinois the indications are maintained
concerning wheat, and where harvesting has
begun in southern portions of the State the
quality proves good; some complaint of fly
Corn in healthy condition, but more urgently
needing rain than heretofore in some districts
Outlook for oats unchanged and irregular.
Iowa maintains an almost uniformly excel
lent position of the corn crop; drought broken
in many parts of the State by good rains. No
improvement indicated for wheat and oats
crop.
In Missouri the tenor of advices concerning
the wheat crop is somewhat more favorable
than previously. Harvesting started under
favorable conditions, quality good. Corn
position fiattering. Oats crop poor
In Kansas rains have improved all crops.
Wheat harvesting commenced. quality good.
In Michigan all crops have been helped by
rains. Good prospect for wheat and oats gen.
orally. Corn somewhat late, position fair,
growing well now.
Kentucky advices suggest less than average
yield of wheat, but good quality; harvesting
in many places. Corn situation only fair,
now improving. Oats crop poor.
The wheat markets have been very change
able the past week, under various influences,
it becoming apparent that foreign news is
having more influence in the direction of i'm
parting strength, and that leading European
markets are recognizing possibilities as lean
ing more in the direction of reaction from the
long maintained depression than otherwise.
The Chicago market closes but fractionally
higher than week ago."
FINANCIAL.
The following are extracts from the fnan-
cial review of Henry Clews of June 23rd:-
''Wall Streets attitude at the moment is a
waiting one, so as to see how things will drift
when the new conditions take effect Some
things will then have certainty which they
do not now possess. Prices of all kinds of
products and of labor will be found to be very
exceptionally low; and there will be no long
er any questions of tariff to throw any doubt
upon that condition of cheapness being more
or less permanent. A state of exceptionally
low values is always, when it is supposed to
have touched the bottom level, favorable to
1t is an accommodation to the
reduced purchasing ability of consumers; it is
favorable to the undertaking of new enter
prises 10 the repair and extension of indus
trial plants, to the purchase of real estate and
the construction of new buildings; and it af
fords the best opportunity for undertaking
large works of a corporate and public charac
ter. With the enormous amount of capital
now held idle and yielding almost no return,
1t is hardl; conceivable that these conditions
of extraordinary cheapness can much longer
fail to have their natural effect of forcing
this unemployed wealth into investment. Its
owners are not putting their means largely
into existing stocks or bonds; it is therefore
reasonably inferable that they are waiting for
the ripe moment for investing in new under
takings created under the prevalence of low
values. 1t is simply question of ripeness of
when values have touched bot
tom; when the general situation has lost some
of its uncertainties; when the self-curative
tendencies of depression begin to exhibit
themselves, and the country has grown weary
of idleness, then few bold leaders of capital
set an example of confidence to the conserva-
tives, and process of sure and rapid revival
sets in. That process is now before us. How
near or how distant, it is not easy to judge.
Nor is it easy to say how much nearer the end
of the tariff confusion may bring it; nor how
much it might be helped by the success Of
the diplomatic efforts now in progress for in
Producing European disarmament; nor how
much it might be encouraged by assurances
that Congress will soon give us a currency
system that will remedy the serious obstacles
to investment connected with the present I'M
sound state of our monetary arrangements.
There are plenty of conceivable contingencies
that might at any time start up a revival of
confidence and of investment; but, at the mo-
ment, none are distinctly in sight, and we can
therefore only wait for developments. This
may not be a situation Immediately favorable
for buying movement; but it certainly is
not one that warrants selling. The favorable
probabilities greatly outweigh the unfayora-
BILE ones, both in number and Importance;
and the prospective situation is one that will
have no rewards for pessimism."