Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1894-03-21
Com MERCIAL And FINANCIAL
THE GRAIN TRADE-CRoPs sc

The Cincinnati Price Current of March 18th
says
The past week has been springlike in the
Central West, with something OF freezing and
thawing conditions but nothing has occurred
disparaging to the wheat crop of an apprecia-
BILE extent, and the position remains promis-
ing, the average condition being higher than
a year ago.
The feature of the week has been the gov
ernment report on wheat reserves in farmers
hands, by which 114,0O0, 900 bushels is shown
"a quantity not looked for by the trade to be
shown by this exhibit. and quantity, taken
with a reasonable view of the absorption of
wheat the past season, with the record of ex.
ports, stamps the crop estimate of the same
Office for 1893 as ridiculously inconsistent
There appears to have been an effort to get in
line with general recognition concerning the
supply of wheat now on hand-and it may be
said that this has been done in great style If
there was in fact ia 600 bushels in hands
of farmers, it is a safe proposition to say that
it was practically impossible for the 1893 crop
to have been less than $50, 600 900 bushels, and
to be consistent it should be recognized as
more than 465, 100000.
The general tendency of the wheat trade
was to even up prior to The issue of the Gov
eminent report for both the bearish and bull
ish element were apprehensive that the report
would not be favorable to them. This result
ed in fairly steady market until Monday
after the Government report had been thor
oughly digested. when the market manifested
decided signs of weakness. This was parti-
cularly so in New York. The report showed
in farmers hands 100000 more bushels
than the outside estimate and "a 000,0 600 bush
els more than the trade had calculated upon.
Since then however, the market has been
steady, closing quotations for May at Chicago
584 Tuesday night and last night being the
same At New York, a new low record was
established for May wheat, but it was not so
at Chicago.
Fluctuations in corn have not been wide,
but the tendency of values has been upward
though receipts have continued fair.
May wheat at Chicago closed DC below
the highest point of the week, above the
lowest point, and &c lower than a week ago.
Corn at Chicago for May closed &c below the
highest point of the week, &c above the
lowest point, and same as week ago.
Wheat receipts at primary markets were p
$3.50 bushels for the week, against 1,7S3,0OO
the preceding week, and 8, 900 last year.
Corn receipts were 1852, 900 bushels, against
3,767, 900 the preceding week, and 2,O89, 900
last year,
FINANCIAL.
The following are extracts from the tinan-
cial review of Henry Clews of March Oath =
During the past week, the course of the
Stock Market has indicated that the rising tide
of speculation is gradually gaining force.
There has been more buying and at better
prices and transactions have extended from
the industrials to the railroad list.
x <
The gold export movement moves at slow
rate. 1t is to be expected that, at this season,
we must ship that metal; but it will probably
be found that the outgo is less than usual for
the spring months. The February exports of
merchandise show an increase of $780, 900
over those of year previous. The imports
for the month exhibit decrease of S24 ,000,
900; which added to the gain in exports makes
the February trade balance nearly S30,000,0O0
more in our favor than it was twelve months
previous. 1t is to be remembered, however,
that, during the first quarter of 1898, we had
an almost unequaled adverse trade balance
against us, which resulted in the extraordinary
export of gold that preceded the panic. We
can well enough afford to spare any gold that
is likely to 90 out now, without serious conse-
quences, as our banks hold an unusual supply.
The situation, as a whole, is one that must
be construed as on the mend. Outside the in
fuences connected with Washington, affairs
have distinctly hopeful prospect. General
trade is reviving, manufacturers are regain
ing confidence and resuming work on the old
scale, the condition of our foreign trade is
strictly conservative, and there is no doubt of
money remaining easy for the remainder of
the year. But there is likely to be a disposi
ton to operate within moderate limits until
the Bland bill is out of the way.