Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1894-05-16
Com MERCIAL And FINANCIAL
THE GRAIN TRADE-CROPs. sc.

The CINCINNATI Price Current OF May 10th
says
There has been little to complain of the
past week in regard to conditions affecting
leading crops. In most regions there has
been sufficient moisture, and vegetation has
made good development. In corn growing
regions there has been continuance of favor
able surroundings, and this crop has secured
an unusually good start, with large acreage:
In the latitude of southern Missouri and Kan
sas this crop has made sufficient progress to
admit of cultivation.
| The winter wheat crop has been generally
maintained in condition. There are some in
stances of excessive growth of the plant SEEM
| ing to threaten development in this way at a
sacrifice of the grain yield, but it is not evil
dent that this condition exists to an unusual
extent. Late rains in Kansas have been quite
beneficial, and in California also helpful, al
though at the close there are intimations in
the latter named State that hot winds are i'm
pairing the crop.
In the Northwest the outlook for the spring
wheat crop is generally encouraging; it is Sc
curing an earlier and better start than year
ago. but with some reduction in acreage
The information this week relative to oats
is somewhat disappointing, the progress of
the crop being less favorable than was ex-
pected two or three weeks ago. While the
larger proportion of the area still admits of
expectations of good results there is much to
suggest that the crop where it was resown aft
er the freezing weather late in March has to a
considerable extent failed to make the adj
vsncement which gives full assurance of
satisfactory outcome.
The wheat markets have not disclosed any
new feature calculated to encourage the hold
ing interest with reference to improvement in
values in the near future. At Chicago prices
have dropped to a lower point than at any
time previously, and still that market is rec
ognized as above parity with other promi-
nent markets in this country and elsewhere.
With the single exception of last year the WIS.,
ible supply has never been as large as now at
this period in the season. 1t also promises to
be larger on July than for any year previous
to 1893. But other supplies of wheat will be
much lower than in various instances in
former years for the corresponding date-in
fact they will undoubtedly be at a low point
in the aggregate.
The current marketing of wheat is relative
ly small, but quite likely there may be some
increase before the month is out The mar
keting of corn is also moderate but is ex-
peeted to be increased soon. This grain has
been in good demand and prices have strength
ened
May wheat at Chicago closed 2bc below the
highest point of the week, above the lowest
point, and &c lower than a week ago.
Corn at Chicago for May closed at the
highest point of the week, 15c above the
lowest point. and 1bc higher than week ago
Wheat receipts at primary markets were L.
25S, 900 bushels for the week, against POP, 900
the preceding week, and 2,58S 900 last year.
Corn receipts were 22i7 900 bushels, against
2,0t6,000 the preceding week. and 1887 900
last year"
FINANCIAL.
The following are extracts from the finan-
cial review of Henry Clews of May 18th -
In Wall Street circles, there are symptoms
of the beginning of an improvement of tone
in both investment and speculative operations.
The change does not yet show itself in any in
crease of transactions nor in any material adj
vance OF quotations. at present, it rather pre-
figures than realizes such effects.
Every day that shortens the tedious paraly-
sis attending the prolongation of Tariff legs
lation is so much gain for business; and. as
the time comes more clearly in sight when
that bugbear will disappear, hope revives and
there is more disposition to discount the great
revival which that relief will bring. The
country has had such a schooling in waiting
that the deferment of hope no longer breeds
distrust; on the contrary, men of business are
cherishing strong confidence that, when
these temporary obstacles are removed, they
will be followed by a very pronounced and
thorough revival in all interests. Americans
know how to patiently tolerate restraint of
enterprise; but when such restraints are re
moved there is no limit to their energy; and,
for that reason, it is safe to calculate upon an
unusual activity of business when the present
legislative obstacles are removed. Wall Street
is not likely to overlook this fact, and is al
ready getting ready to discount 1t in advance.
The concessions to manufacturers in the
Senate notifications of the Tariff bill have
produced a marked change in estimates as to
the working of that measure. They lift the
cloud of apprehension that has rested upon
our industries for twelve months and open
the way to quicker and more general re-
sumption of production than has been hoped
for; and, provided there be no important re-
fractions of these changes in the later discus
sions, there is likely to be an important revival
of business even before the new duties take
effect.
X K
The exports of gold continue without any
symptoms of immediate cessation; but have
little or no effect upon the Stock Market. for
the reason that the money can be well spared
and that its transfer may stimulate an ulti
mate European demand for our securities by
increasing the ease on the foreign bourses.
The banks rather welcome the outflow than
otherwise; as it will help to reduce the super
abundance of cash at this centre and stiffen