Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1894-01-31
COMMERCIAL and FINANCIAL
THE GRAIN TRADE-CROPs, &C

Inc C1nclnnaLl f71ce-Cuffent OF January
25th says =
1.-THE anxionsly awaited for severe freezing
weather came this week, but the fall in tenn
perature was preceded by heavy fall of snow,
shielding from serious damage the heretofore
unprotected wheat plant.
Returns from all sections uniformly speak
of the good condition of the growing crop.
The mild weather has facilitated the progress
of farm work Until the past few days roads
have favored the free movement of grain and
receipts of wheat at primary markets showed
slight increase. The blizzard now prevailing
throughout the country may check this move
ment for a short time.
Sustaining elements seem lacking in the
market and Tuesday a new low record was
made at Chicago for May, when it touched
633c, and the close Wednesday was but &c
above that. The export movement is hardly
up to calculations earlier in the season.
While interior receipts of corn have been
larger the export movement has been so lber-
al as to easily sustain values, and the closing
is somewhat above last week. There is
possibility that if the snow remains for any
length of time considerable corn may yet be
fed to stock. The disposition of the farmer,
however, is to part with his holdings as the
price advances.
May wheat at Chicago closed lie below
the highest point of the week, above the
lowest point. and &c lower than week ago.
Corn at Chicago for May closed 4c be-
low the highest point of the week, &c above the
lowest point, and &c higher than week ago.
Wheat receipts at primary markets were q
100000 bushels for the week, against 1918, 900
the preceding week, and 1916, 900 last year.
Corn receipts were A. 7S,OOO bushels, against
1904, 900 the preceding week. and 1875 900
last year."
FINANCIAL.
The following are extracts from the finan-
cial review of Henry Clews of January
9th -
1.-THE Wall Street markets show little change
from their late features. Transactions are
but the undertone of prices remains firm
! When prices yield, there are few sellers; nor
do advances bring out any important amounts
of stock. In brief, holders are not sellers at
present that the depression of business has
passed its climax, and the prevailing symp-
toms show that, both in the industries and in
trade, the process of recovery has distinctly
set in.
| This turn of the tide is most conspicuous in
the Northwest and Southwest. In those Sec
tions, the mercantile interests show distinct
! improvement, which expresses itself in the
markets of this city in an increased number
of buyers, as we'll as in an ability to buy larg-
er parcels and in better collections and fewer
| requests for extensions of payments. Unfor-
tunately, on arriving here, these interior buy
ers find still discouraged feeling, much COM
plant and lack of firmness in prices not
withstanding the extraordinary lowness of the
stocks of goods; and under these circumstances
| they deem 1t prudent to buy less than they
really want, with consequent Encouragement
to our local merchants. A few days ago, a
series of concessions were made in staple cot
ton goods, which, instead of encouraging
sales, have frightened buyers and produced a
general check on business in that branch of
trade. 1t would seem as though manufacture
ers and commission merchants have allowed
their fears at the effects of tariff changes to
get the better of their sober judgment, with
the result of their overlooking the favorable
points in the situation and placing themselves
at the mercy of customers, who, under such
circumstances, buy much less than they real
ly want. And yet the fact that the long idle
factories are so generally resuming work i'm
plies that manufacturers are aware of the ex-
hausted state of stocks and believe that the
markets are prepared to take fair amount of
goods.
The action of Congress on the sugar duty
has been a leading feature in the stock mar
! ket. The vote in the Committee of the Whole
in favor of making the article duty free natur-
ally caused some selling of Trust stock, but
the price was affected much less than might
have been expected under the circumstances
The drift of London feeling seems to be
turning in favor of this market. The bad eff
fects of the numerous receiverships of our
roads in which foreigners are interested seem
to haye done their worst; and investors are
coming round to the conclusion that, in the
worldwide financial reaction, all investments
have suffered and those of the United States
not nearly so much as some others. London
therefore, is showing more interest in Amer
icans," but seems inclined to limit its atten-
ton to securities supposedly beyond the reacl
of receiverships.'