Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1894-09-12
COMMERCIAL And FINANCIAL
THE GRAIN rRADE-cRops, &C.

Inc ClnclnnaC fface- Current OF Septem Der
9th. says
Concerning the crops of corn and wheat
there are no new features of special impor-
lance to be noted for the past week. In vari-
Gus regions in the Central West there has been
sufficient moisture to modify the drought
conditions, proving helpful to pasture, au-
tumn blowing, etc.. but such conditions have
not been general, and wheat seeding opera
tons are still retarded to considerable degree.
There are limitations from various sources of
decision to lessen the area in wheat, but there
is not pronounced or positive sentiment yet
evident in such matter.
The very great extent of failure of the corn
crop in the West, including Iowa and Nebras-
ka especially, and Kansas and some other
regions in less emphatic degree, has led to
very positive statements as to the seriousness
| of the deficiency, and there is quite likely
ground for the view that any change to be
recognized in the later view of the crop as
whole is in the direction of smaller Weld
than has heretofore seemed probable 1t is
unquestionably true that large extent of the
corn area will be cut for fodder only-a fea-
ture which eliminates such area from the
basis of calculation of yield of grain but
which implies an important procedure in
providing feeding material, the influence of
which will undoubtedly be felt in due time
In regard to wheat the weeks information
is in line with previous advices. The total
arrivals of wheat at primary markets are of
good proportions, but the winter grain regions
are generally not offering wheat freely. There
continues to be very general reference to alb
sorption of this grain for feeding operations
but the importance of this shaping of affairs
appears likely to be overstated.
The low points in the Chicago wheat mar
ket have corresponded with similar features
of the preceding week, but the high points
have not been so high by 1sa1sc. The in
creasing proportions of the visible supply and
the moderate export movement have a ten
dency to modify confidence with reference to
the near future and the accepted evidence of
ample supplies for the year requirements
counteracts the strengthening influence which
the feeding of wheat to animals on a liberal
scale would have under other circumstances.
The corn market has shown much
strength the past week, and although Chicago
prices at the close are decidedly under the |
extreme position during the week they are
still considerably higher than at the close a |
week ago.
December wheat at Chicago closed &c below |
the highest point of the week, Ic above the
lowest point and &c higher than week ago. |
Corn at Chicago for September closed 2Bc be- |
low the highest point of the week, DC above
the lowest point. and 15c higher than week |
ago.
Wheat receipts at primary markets were g.
$50, 600 bushels for the week. against 5, 567 900
the preceding week, and 3.4O4, 900 last year.
Corn receipts were 1,51O, 900 bushels, against |
l, 900 the preceding week. and 3.544,OOO
last year.
FINANCIAL.
The following is extracted from the Finan-
cial Review of Henry Clews of Sept Sth:-
''As indicated in our last adyices the slight
reaction in prices of stocks in the last week of
August, has been followed, during the past
week, by general recovery of tone and an
advance in quotations. This is evidence that
the market has not lost the confidence inspir-
ed by the settlement of the Tariff and the
general revival of business. The
improved tone in the merchandise markets
and the presence in the leading markets of
buyers of goods representing all parts of the
country finds ready response in Wall Street.
,he more so as the railroads already show the
effects of the revival in an increase of earn
ngs.
The general outlook is Interpreted as favor
no a aoff
Everywhere, there is a scarcity of
GOODS and the current unprecedentedly low
'cale prices encourages buying. After twelve
months contractions of purchases, alike by
raiders and consumers, a considerable re-
,lenishment of supplies seems inevitable.
The buying may be conservative and con-
sumption may possibly run largely upon the
over grades of goods; but, in any case, the
of business has now received new
impetus, and there is no reason why it should
lot steadily recover its accustomed move
nent. 1t may be that the recovery in the
in some of them-will some
what lag behind the movement in commercial
operations; for there is reason to fear that
are contending against the diff
iculty of an excess of plant, and for that rea-
ON they may find ground for complaint I'M
ii their capacity for production becomes bet
er' adjusted to the demand for products. To
each that adjustment, there must be on the
me side an increase in the buying ability of
consumers, and, on the other, the permanent
iisuse of plant which has failed to keep pace
With the march of economy in production.
FOR these and other reasons, we NAV not be
in expecting any immediate
boom" in trade; but we may legitimately
anticipate the wholesome process of recovery
hat comes from revision of the conditions
# production and distribution Such re-
7ision, is calculated to encourage confidence
II Investments; and, if 1t fails to induce ex-
'ansion in industrial outlays. it to the same
xtent encourages investment in already exist
ng securities.