Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1895-06-19
COMMERCIAL and FINANCIAL
THE GRAIN TRADE-CROPs, &C.

L
says:
THE Government estimate for winter wheat
is higher than most in the trade expected, due
to the favorable position on the Pacific coast,
but the average condition is a low one, Ill
per cent, and not likely to prove much if any
better than this in the ultimate reckoning
The spring wheat condition is high, averag-
ing 97.8. The official figures suggest prom
Use of about 245, 100000 bughels for the winter
grain, and It's, 100000 for spring, or a total of
about 420,000,000 bushels. This compares
with 425, 100000 suggested by the Price Current
two weeks ago. although representing more
for spring grain and less for winter than that
approximation suggested.
The week has been seasonable in a general
way, and the corn crop although delayed
somewhat by previous adverse conditions is
now generally in good or encouraging posi-
ton. There is, however, more or less urgent
need of moisture In many sections, notably
in the central regions, representing Ohio, In
diana, Illinois, ETC.
The spring wheat situation is maintained
favorably, and the possibilities of this portion
of the crop are more assuring than previous
ly; if maintained, the result will undoubted-
ly exceed the yield of last year.
The current returns from the winter wheat
portion of the crop continue variable, and
largely discouraging in striking degree; so
far as can be judged from their general tenor
they are not essentially more assuring than
previously
In many instances the wheat is heading
with unusual shortness of stalk and of ear; in
some cases the later indications are somewhat
better than was previously counted on.
A portion of the oats crop area gives prom
Use of good yield, but as a whole this crop will
be deficient. The hay crop will be decidedly
short
Our correspondence appearing in this issue
is quite full, and will be found to be especial
ly interesting.
The interior offerings of grain are small,
and the stocks in prominent markets are
working down, as also of flour, so the new
season will begin on a basis quite in contrast
with conditions in recent years.
July wheat at Chicago closed 3sc below the
highest point of the week, 15c above the
lowest point, and &c higher than week ago.
Corn at Chicago for July closed &c below
the highest point of the week, 4c above the
lowest point, and &c lower than week ago.
Wheat receipts at primary markets were L.
100000 bushels for the week, against 100000
the preceding week, and 1, $4,000 last year.
Corn receipts were 2, 732, 900 bushels against
3,552000 the preceding week, and 2,3SS,0O0
last year."
FINANCIAL.
The following are extracts from the inan-
cial review of Henry Clews of June 10TH
1.-The drift of conditions seems to be carry
ing the market forward in spite of the efforts
of professional bears to break prices, and
Notwithstanding willingness on the part of
some bulls to see some reaction in prices
and to permit the market to repose for time
on its intrinsic merits. There are, however,
no appearances of coming check in any di-
rection and, from the present outlook, it
seems by no means improbable that we may
have good active market during the Sum-
mer, which may bring regrets to operators
who may choose to prefer recreation to watch
ing Wall Street opportunities.
surplus of cereals for export will have an i'm
portant bearing upon confidence. Owing to
the growing demand in the merchandise
markets, there is probability of the Fall i'm
ports being large, and that probability is
strengthened by foreign reports of large pur-
chases by American importers. 1t is there
fore the more important that our exports of
oh no fn
obviate the possibility of important exports of
specie;-that being the only sore spot remain
ing from the financial dangers through which
the country has passed since 1898. In some
quarters, there is little solicitude as to how
far the Loan Syndicate may be depended up
on to protect the Treasury against liability to
export drains of gold after the winding up of
the loan contract of last February. There
are no open assurances upon this point, but
the feeling is almost universal that the Syn
dictate will not retire from its regulations of
the foreign exchanges until an understanding
has been reached as between the Treasury
and the large local holders of gold, that will
protect the Government against its former ex-
posture to drain.
1t would seem, that the prospects favorable
to international bimetallism have become
materially diminished. This important
change in the situation is directly calculated
to secure the adhesion of our lnternationalists
to the gold Standard which is large gain to-
wards safe settlement of this troublesome
question"
st. Mary's Catholic Church, Alex
andria, which has been rebuilt at a
cost of $4,000, was rededicated, Bis
hop Van de Vyver officiating
About one hundred Cuban rebels
were killed in a fight with Spanish
troops near Holguin.
President Cleveland, accompanied
by Private Secretary Thurber and DR..
O'Reilly, left Washington Monday for
the Presidents country home, Gray
Gables, on the Massachusetts coast,
where his family is already installed.
The party reached Jersey City shortly
after noon where the travellers am