Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1894-12-26

cess of prevailing expectations. 1t seems use
less to offer explanations to the effect that
the excess is mainly due to transfer of stocks
from warehouses not counted in the list TO
those which are. 1t also seems useless to look
forward to possible shaping of the position
of supplies in this country later on by which
the crop year may be expected to go out with
little or no surplus remaining. The markets
are not governed by domestic conditions of
such nature. but by the temper and actions of
operators in foreign markets. who give no
heed to low and lowering invisible stocks in
this country, but keep an eye steadily on the
dial rejecting the unprecedented quantity of
wheat in warehouses in this country, which,
with assurances of all necessary supplies from
other exporting countries enable them TO
gard with complaeency any temporary ad-
vance in our markets from causes which ap-
pear to justify an upward tendency in values.
May wheat at-Chicago closed &c below the
highest point of the week, &c above the low
est point, and 1Bc lower than a week ago.
Corn at Chicago for May closed II below
the highest point of the week, &c above the
lowest point. and lac lower than week ago.
Wheat receipts at primary markets were g.
1885, 900 bushels for the week, against 1857 900
the preceding week, and $685., 900 last year.
Corn receipts were $3.50, 900 bushels, against
3.056,O00 the preceding week, and 1881, 900
last year."
= FINANCIAL
The following is an extract from the Finan-
cial Review of Henry Clews of Dec. 22nd:-
Wall Street is now in the midst of its annu-
al retrospective mood balancing accounts,
settling firms affairs, and reviewing the
results of very unsatisfactory year. From
now until New Years is therefore not a
period for active business, and operations
are languid and limited This naturally
makes an opening for the bears, who
seek to make the most of it; but with indiffer-
ent success. The encouraging event of the
week has been the declaration of their usual
dividends by each of the Vanderbilt lines
This appears to have been made possible by |
large reduction in operating expenses, in spite |
of material decrease of gross earnings and |
of the large falling off in comparative passen-
ger receipts for the months covered by the |
Worlds Fair. The exports of gold can hard
ly be said to have more than momentary eff
feet; for the movement has about been dis
counted and the outflow is INST expected to ex-
coed what is usually incident to this season.
Wall Street can scarcely be said to be optimis-
tic as to the position of the Treasury in rela-
ton to gold. 1t anticipates a steady decline
in the Treasury stock of the metal and ne
cessity for the Government borrowing another
80 millions, to replenish its gold reserve in
the course of a few months unless Congress
should devise means for averting that result |
Of which however tn ere is not much expecta-
ton. Some uneasiness is caused by the steady |
Of gold from the Treasury. ma
Ierially in excess of what is required for cur
rent exports of the metal. The drain appears |
to come from the banks and to be for their
own account, and is probably caused by de-
sire to recoup themselves for the large amount |
they parted with in their subscriptions for the |
late loan. No more serious motive is sup |
posed to be at the bottom of the movement |
and it is expected to prove only transient