Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1894-04-04
COMMERCIAL And FINANCIAL
THE GRAIN TRADE-CRops. sc.

growing Wneat crop. previously tue season
had progressed in an exceptionally favorable
way, and the status of the crop was high
That it has declined greatly is not yet clear
But the temperature has been lowered 50 as tt
occasion hard freezing, for some consecutive
days-a condition following period of higf
temperature which had encouraged quicl
development of the growing plant, thus rem
dering it more susceptible to adverse condi
tons than otherwise would have been tn
case. The hard freezings have prevailed a
far southwark as Tennessee. where the whea
plant had reached point of growth imply
ing liability to severe injury from such low
temperature. As far northward as southern
portions of Illinois, Indiana, etc., some of th'
crop was advanced far enough to suffer from
freezing. But to what extent actual damag,
has occurred can not be intelligently estimated
at this time. 1t will require some days yet t.
furnish a satisfactory basis for such calcula
tions. So far as the influence of adverse con
ditions up to date are concerned it appear
doubtful if the injury will prove serious, /
conditions henceforward should be favorable
If the hard freezing weather is to be prolong
ed. As it is now the area of more or less in.
jury to the crop probably represents about II
per cent of the autumn sowing-it may posi-
bly, be more, but this now appears doubtful
If this 10 per cent should be cut off one half
the result would be loss equal to per cen
of the winter grain. As a matter of fact
however the question is almost wholly mat
ter of conjecture at this time.
| Our correspondence now published in detail
was partly written before or at the commence
ment of the hard freezing period, but much of
| it after this condition had overtaken the crop,
and where there is injury recognized it ap-
| pears to be more presumptive than demon
strated All conditions considered, it appears
| to be in order to not count too much yet on
the extent of the present adverse conditions
| in causing certain curtailment of the seasons
| production.
The freezing is quite likely to occasion con-
siderable replanting of oats and potatoes, and
prove destructive to a large portion of the
| fruit in the West. Oats seeding is well adj
vanced, as far north as Iowa; in southern
| Illinois, Missouri ETC., considerable of the
crop is up under the stimulating influence of
recent warmth, but this does not represent a
large part of the whole area in this crop. In
Missouri and Kansas some corn has been
| planted.
The previous indications of large area to be
devoted to oats is confirmed by the later in
| formation, but the cold weather may occasion
some change, especially if it should be con-
tinued, and less area planted to oats and more
| to corn, etc.
In the Northwest the seeding of wheat had
begun before the low temperature of the past
| few days, but was not far advanced. The ex-
pectation has been that the wheat area in that
| region would be reduced; should the markets
become especially stimulated in the next two
| weeks the effect would likely be to encourage
more planting of wheat than planned.
| May wheat at Chicago closed &c below
| the highest point of the week, 81 above the
lowest point, and PC higher than a week ago.
Corn at Chicago for May closed at the
| highest point of the week, lie above the
! lowest point, and &c higher than a week ago.
Wheat receipts at primary markets were l.
544 900 bushels for the week, against 1853, 0OC
| the preceding week, and 2,547 900 last year.
| Corn receipts were 2,775, 900 bushels, against
1897 900 the preceding week, and 100000
last year,
| FINANCIAL
| The following are extracts from the fnan.
cial review of Henry Clews of March 31st =
1.-THE past week has shown distinct symp
toms of improvement in the tone of the Stock
Market. There has been more settled feel
| ing OF confidence broader interest has been
developed in both the speculative and invest
ment departments; transactions have become
more general outside the mercuriai ''indus
trials" and some of the prominent 'bears
have turned over to the "long'' side of the
market.
In general sense, this improvement is due
to- the many influences that have for some
time been working towards better condition
of business and it is to be regarded as one Of
those spurts of cautious hope which mark the
stages of the steady process of return towards
a normal condition of affairs, and which are
preparing the way to really active upward
movement in values. There is, however, ONT
special cause for this improved feeling, which
is quite important. The general confidence il
the President vetoing the Seigniorage bill ha
had notable effect in Europe. The mair
fact which has kept London uninterested il
American investments during very marked
recovery in other securities on that market
has been fixed apprehension lest there nigh
be more or less recantation of the decided anti
silver policy indicated in the late suspension
of silver purchases. That is the one point OF
which the European markets are sensitive
and wary towards our corporate issues; anC
that distrust has been exhibited in an almos
total cessation of foreign demand for ou
stocks and bonds for considerable time past