Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1894-07-18
COMMERCIAL and FINANCIAL
THE GRAIN TRADE-CROPS, &C

THE GRAIN TRADE-CROPS, &C.
The Cincinnati Price Current of July 18th,
says
"The past week has been characterized by
| cool temperature, especially at nights, for the
time of year, and but little of rainfall in the
agricultural districts of the West. As result
! of these conditions considerable portion of
! the corn crop area is bordering on the point
of urgent need of moisture to avert unfavor-
able results. If this relief can soon be had
the position will resume an assuring promise.
As it is there has manifestly been but mod
crate extent of area which has as yet suffered
positive hindrance to growth.
The advices this week from winter wheat
districts maintain the favorable indications of
yield and of quality. If the harvest closes as
favorably as it has thus far progressed the re-
suits will again largely exceed the official cal
culatiOns as to yield. The spring wheat crop
in the Northwest is irreparably short, but
quite likely is less seriously so than some OBJ
servers give it credit for being. The total
crop seems to maintain possibilities of approx
imately AIS, 900, 900 bushels
In the wheat trade the movement of grain
has been hindered by the prevailing disorder
ed condition of transportation. but there is
evidence of free offerings, and also an excel
lent milling demand, for the stocks in hands
of millers are exceptionally low. The genera
market is lower than week ago. The move
ment of corn has been small during the week i
without much urgency in demand, and prices
are not greatly changed.
September wheat at Chicago closed 4!c below
the highest point of the week, &c above the
lowest point, and DC lower than a week ago.
Corn at Chicago for September closed &c be-
low the highest point of the week, &c above
the lowest point, and &c higher than a week
ago.
Wheat receipts at primary markets were l.
100000 bushels for the week, against /, 453, 900
the preceding week, and ., 446, 900 last year.
Corn receipts were 6S1, 900 bushels, against
2, 100000 the preceding week, and 2,67S,OOO
last year."
The following is an extract from the Finan-
cial Review of Henry Clews of July 14th in
to the effects of the strike =
1.-THE interruption of travel and transporta-
ton has been regarded as more temporary
of railroad business than as so
much permanent loss; and the destruction of
has been viewed as a charge upon
the local governments which have failed to
prevent violence, rather than upon the cor
porations that have been raided. Moreover, |
whatever minor forms of actual and uncom- |
pensated loss have fallen upon the railroad |
interest," it is felt to be small matter in COM
parison with the offset accruing from the |
signal failure of the strike principle and the |
future limitation of the unions
power of disturbance. The firm attitude as
sumed by the Government in, for the first
time, affirming that these violent methods of
strike are fundamentally opposed not only to
the rights of the citizen but also to the laws of
the United States, is an invaluable contribu-
ton towards confidence in the future immu-
nifty of our railroads and other large corpora.
tons as against the lawless Interruptions of
labor from which the country has suffered so
much and by which the use of capital has
been surrounded with very serious risks In
brief; Wall Street regards the struggle as the
browning battle between the employing class
and the employed class in which the former
has regained its right to unobstructed freedom
of contract in the employment of labor The
result of this victory is of no small value
to the future stability of our industries and
the estimate put upon it is significantly ex-
pressed in the steadiness of the financial mar
kets amid so much confusion.
Another result of much value to the rail-
roads has come out of the strike. Under the
past depression Of business and the general
fall in prices, the roads have felt the necessity
of general reduction in wages and yet they
have hesitated to enforce it lest it should pro-
duce labor disturbance. They have now an
opportunity of replacing their past employees,
and are doing so upon a generally reduced
scale of wages. A valuable opportunity has
thus been afforded for the railroads conform
ing their scale of expenses to the general, and
probably permanent, reduction in prices |
Thus what has been dreaded as a possible |
great national calamity turns out to be valu-
able contribution towards completing the pro-
cess of readjustment which our material in
terests are now undergoing