Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1894-08-29
COMMERCIAL and FINANCIAL
THE GRAIN TRADE-cRoPs. sc.

The Cincinnati Price Current of August Ord,
says =
'sThe past week has developed nothing new
of importance concerning the corn crop. The
recent rains have done something at arresting
damage to late portions of the crop. Condi-
tons are quite variable. so that-it is difficult
| to reach reliable conclusions as to the general
average status of the crop but there is little to
| support calculations exceeding total of l.
| GOO. 900 600 bushels, and it does not appear
| likely that the outcome will show less than
! / 500, 900 Co.,
Spring wheat information encourages high
| err estimates of yield than have heretofore
prevailed, displaying much in this direction
similar to the developments concerning win
| ter wheat.
References to wheat feeding operations have
greatly increased in crop correspondence. re-
| fiecting quite an extended inclination and
planning for such disposition of wheat
| Farmers who have been unaccustomed to
feeding this grain naturally have hesitated in
making the change. but the inducements
| have been so great, and the experiences of
others are becoming Sd much more available.
fthat there is more of confidence and decision
in such direction.
| If the wheat crop should in fact reach 500,-
100000 bushels, which appears within the
range of possibilities, and 10 per cent of it
(Which is a full calculation) should be absorb
ed by animals, there would be remaining
enough, with the surplus of previous produc
ton to furnish usual domestic requirements
Z N IL, f1,
portation during the year, by reducing sup
plies to low or minimum point.
Changes in the wheat market the past week
have not been so great as previously, the pre-
yailing tendency appearing to be moderately
downward. Chicago closes with decline of
&c for December and May, compared with a
week ago.
The corn market has shifted about good
deal during the week. and closes at Chicago at
decline of 1lc for September and &c for May,
compared with a week ago.
By what order of affairs the present relation
of prices of wheat and corn can be continu-
ously maintained as the season advances is a
matter not at all clear, and may be accepted
as of doubtful demonstration.
FINANCIAL.
The following is extracted from the Finan-
cial Review of Henry Clews of August 25th =
"The fact of the common cheapness of
materials and of the quite general reduction
of wages has a very direct tendency to invite
revival in certain important branches of
trade. especially those connected with build |
ing, machine plant, public Improvements
and railroads. How far the reduced scale of
prices and the exemption of raw materials
from duty may enable us to increase our ex-
port trade remains to be seen; in the mean |
time, however, it is a hopefully significant
fact that last years reduction in values was
attended by an increase in our exports of $685.
100000, as compared with the year 1928.
The recovery that now seems to be setting
in is something broader than a revival from
the effects of last years panic. That crisis,
though Immediately incident to the great sill
yer fright, embraced also the effects Of the
deeper arrangements that set in with the
great Earrings suspension, and of which that
failure was but symptom. Those derange-
ments were largely in the nature of over-pro
duction, over-speculation, oyer-trading and
were worldwide in their influence, and their
effects still continue in the persistent depres
sion of trade in every European nation. If
the recovery from these four years of reaction
first makes its appearance in the United
States it is nothing more than might be ex-
pected from the greater resiliency of our re-
sources and from the fact that we have been
less intimately connected with the disturbing
causes than have other countries 1t is rea-
sonable to hope, however, that recovery on
this side the Atlantic will tend to stimulate
improvement on the other side; and thus it
may quite possibly happen that the foreign
markets, both commercial and financial, will
respond to the improving tendency in our
own.
There is a large amount of idle funds lying
around in all directions, for which the owners
have not yet found permanent sources of en-
ployment; and this capital is now coming in
to the market for transient investment in
securities which are considered good for a
rise This is a solid source of support for the
new tendency; and it seems likely to be con-
tinued for some time-the more so because
the interest obtainable in other ways still con-
tinues unsatisfactory. Under these circum-
stances, we cannot hesitate to commend the
market to our friends as one favorable for
buying on all pronounced reactions
5taunton Markets.
SPECTATOR OFFICE.
STAUNTON, VA, Aug. 2S, 1894. 4
IL l.