Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1894-02-07
THE GRAIN TKADE-CRoPs. sc

The Cincinnati Price Current of February
LIST says
There has been change in weather cond-
tons, the temperature dropping to low point
throughout the West at the beginning of the
week now closed. Fortunately the excessive
cold was preceded by a good fall of snow
throughout most of the winter wheat belt, and
the larger portion of the area has thus found
protection, and has been unlnjured by the
hard freezing, but this has not been the uni
form condition, and to some extent damage
has occurred, moderately lowering the aver
age status of the growing crop.
The worlds plentifulness of wheat, and par
ticularly the recorded abundance in sight for
immediate and prospective demands, have
been influences operating to counteract
strength in the markets which they might
have acquired otherwise under the current
moderate volume of offerings from first hands
and the accommodating evidence that with the
enlarged estimates of the production in 1898
the surplus appears likely to be closely dis
posed of before another harvest.
The week now closed has recorded frac-
tionally lower figure for May wheat at Chicago
than previously or 63s But Chicago is not a
low market compared with current prices at
the seaboard, even at this figure, or in com
par1son with the position of foreign markets
toward which the American surplus naturally
moves. There is little now in sight which
can prove substantially helpful to wheat
prices in this country in the near future out
side of the possibilities of positive and con-
siderable injury to the growing crop. If such
an event should occur it may give some i'm
pulse to speculative sentiment in this country
and abroad.
The corn movement has been largely re
duced, but the previous free shipments so we'll
supplied the centerS that the lesSened market
ings have had little influence on values, which
are somewhat lower than at the close week
ago, at Chicago.
May wheat at Chicago closed &c below
the highest point of the week, above the
lowest point and 4c lower than week ago.
Corn at Chicago for May closed &c be-
low the highest point of the week, &c above the
lowest point, and &c lower than week ago.
Wheat receipts at primary markets We're l.
5000 bushels for the week, against 1880, 600
the preceding week, and 3,518, 600 last year.
Corn receipts were 1864, 900 bushels. against
4,278,0 900 the preceding week, and LIE, 900
last year."
FINANCIAL.
The following are extracts from the finan-
cial review of Henry Clews of February
3rd -
wall Street continues to move on in the
old tracks and its late usual pace. tempo
rary furry was caused by the hitch between
the Secretary of the Treasury and the banks
about the negotiation of the new fifty millions
loan; but, thanks to the tinesse of the New
York banks and trust companies co operating
with him, that breach lasted but for a day,
and the loan has been made an assured sue
cess, in spite of the partisan or demogogic eff
forts that have been made in Congress and
elsewhere, to discredit the Secretary's authori-
tys for making the ISSUE
In the Stock Market, interest seems to be
confined, for the moment. almost entirely to
small incidents connected with individual
stocks. The main feature is still the contin-
ued fixed underlying tone of firmness IN prices,
which resist all speculative attacks and yield
| nothing to momentary depressions of tone.
Tie reason for this, previously expressed in
| these advices, namely the relatively light
supply of securities on the market, receives
| confirmation from experience.
| The continued uncertainty as 10 what Con-
| gress may finally do in respect to the tariff
and the income tax keeps business at large in
very dull and hesitating position. The Will
| son bill, with the Income tax provision at
tached, now goes to the Senate, where its fate
will soon be foreshadowed. Whether defeat
ed or successful the final disposal of the
measure will bring great relief by ending sus-
pense. The continued extensive resumption
of factories and works closed for months past,
shows that manufacturers have become sensi.
BILE of the close exhaustion of stocks in many
branches of trade, and that they now feel ii
safe to make provision for the later wants of
| the Spring season and for the Fall trade
There seems to be no doubt that the country,
especially in the interior, has now fairly en-
| tered upon process of recovery; but its prog
ress must be expected to be slow. So far
however, this recuperation is only partly ex
pressed in the markets of this city. where the
prev ailing pessimism seems to brighten inter
Tor buyers out of their disposition.to increase
their purchases.