Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1894-11-14
COMMERCIAL And FINANCIAL
THE GRAIN TRADE-CROPs, sc.

The Cincinnati Price Current of November
Sth, says
sin view of the widespread interest in the
question of wheat feeding and its probable
extent the Price Current has instituted an in
quiry and although the returns at this time
are not complete they affor d very good basis
for preliminary estimate, and justify some
enlargement in the previous general approx
nations of this paper. The eight Western
States of Ohio, Michigan, Kentucky, Indiana,
Illinois, Iowa, Missouri and Kansas, produced
approximately one-half of the entire wheat
crop of the country. and these States represent
nearly all the wheat feeding area having any
significance in the calculations.
In the feature of percentage of absorption
of this grain by animals Iowa probably stands
highest, but the production of that State was
relatively small. Very considerable quanti-
ties of wheat are being received in Iowa from
other States for feeding purposes. Next in
order are Kansas, Ohio, Indiana, Illinois,
Michigan, Missouri and Kentucky. These re-
turns suggest that the feeding consumption
has reached approximately 10000, 900 bushels
already, and in most of the sections continu-
ance is expected until prices advance so as to
modify the inducement for such disposition
of the grain. Without an early change in this
particular the estimates for the season suggest
approximately rs, 900 bushels, or about as
much more to be fed as has been thus dispos-
ed of. Some localities, however, are reducing
wheat feeding operations under the available
ty now of corn and other feeding material. II
| seems justifiable to say that the indications
now are that from 100000 to 10000
bushels of wheat will be absorbed by animals
from the crop of 1894.
If the wheat crop be recognized as approx
mately 100000 bushels, and the home re-
| quirements for bread and seed be estimated
at 1916, 100000, or rs per cent of the produc
ton, and rs, 100000 bushels, or Is per cent, be
| disposed of in feeding operations, there would
| remain but 100000 bushels, exclusive Of
the surplus of previous production, available
| for expectation. If the marketable portion Of
this surplus be accepted as 100000 bushels
as previously suggested, the total exportablt
quantity On this basis would be 110,0O0,O0(
bushels, of which one-half, or 5000, 900, ha;
already been exported. These conclusions ART
based on the presumption that the bread-con
sumption rate of former years is being main
| tanned.
| The situation in wheat in this country il
truly anomalous. The warehouse stocks il
sight are ont of all usual proportion to thu
marketable quantity in the country, anC
these stocks are more potential in market in
fiuence than any other features in the ques
ton. But if the general propositions herein
presented are not radically at fault there viii
ere long be an important change, for the in
terror mills, already finding difficulty in Sc
curing milling supplies, must necessarily lool
to the large centers, under which shaping O.
conditions the growing tendency of visible
stocks will give way to unexpected decrease
Again, if the propositions are not faulty, this
country long before the close of the year will
cease to have its wheat markets gagged by the
temper of foreign merchants, accustomed tt
the acceptance of extravagant statistical ex
hibits with reference to the worlds crops.
FINANCIAL.
| In his financial review of November 10th
Henry Clews, himself Republican, give