Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1895-08-28
feb l
COMMERCIAL AND FINANCIAL
THE GRAIN TRADE-CROPs. sc.

| THE GRAIN TRADE-CROPs, sc.
| The Cincinnati Price Current of August 22nd
| says
THE information in regard to the condi-
ton of the corn crop is so irregular that pre-
else conclusion is difficult to reach The most
| forward growth now generally gives positive
| assurance of good results, but the later plant
| ed portion of the crop is suffering seriously
| from lack Of moisture in large breadth in
| the central regions, east of the Mississippi;
and in various localities west of that line
there has been a shortening of the yield from
the same cause. So much of irreparable in
jury to the crop here and there is indicated
that an important lowering of the general
| average condition seems certain.
The later returns of yield of winter wheat.
as reflected by threshing reports, do not ap-
pear to furnish any reason for reducing gen.
eral estimates. There is continuance of COM
plant of the large proportion of inferior
quality, and millers in various instances re-
port that it requires to per cent more of
grain than ordinarily to produce a barrel of
flour. The result will naturally be an en-
larged proportion of by product, which is
likely to be salable only at reduced prices
compared with last year, especially in view of
the abundant supplies of corn and oats, and
other feeding material.
There appears to have been moderate ten
dency to an increase in marketings of wheat,
but this may be changed by the weakness of
the markets and lowering of prices. It seems
unreasonable to expect that the declining ten
dency of prices should be prolonged much
further There is quite decided reduction
in the closing price at Chicago in comparison
with week ago.
September wheat at Chicago closed Ale be-
low the highest point of the week, 4c above
the lowest point, and BIC lower than week
ago.
Corn at Chicago for September closed 25c
below the highest point of the week, 4c above
the lowest point, and &c lower than week
ago.
Wheat receipts at primary markets were
2,505, 900 bushels for the week, against 1884
900 the preceding week, and 5,963, 900 last
year.
Corn receipts were 2,725, 900 bushels. against
2021 900 the preceding week, and ,0S3, 900 last
year."
FINANCIAL.
We extract the following from the financial
review of Henry Clews of August Ath:-
1.-THE general situation in Wall Street re-
mains virtually unchanged. Both sides of
the stock market admit that, so far as respects
material conditions, the outlook is good. 1t
is conceded that the harvest outcome, taken
as whole, is likely to be at least good aver
age, and that the money yield to the farmer
promises to show an immense improvement
on the past year. 1t is acknowledged that
the commercial spirit is healthy and hopeful,
and that the manufacturing interest is buoy
ed by the expectation of an increased con-
sumption. There seems to be, only in ex-
ceptional cases, any check to home produc-
ton consequent upon the new tariff, and the
danger from an excess of importations is GER
tainly less than has been feared, and not like
ly to affect adversely the exports of gold, ex-
cept in the event of smaller export of prod
ucts than it now seems reasonable to expect
The national exports of last month showed
an encouraging gain over those Of year ago,
and the increase was due less to larger guam
tity than to higher prices for many of the
more important articles. An advance of IL
cents in wheat, of Il cents in cotton and an
equal rise in petroleum, compared with a
year ago, means many millions of additional
value in our chief articles of export for the
current fiscal year, sufficient to more than
Offset any increase in our merchandise ex-
ports at present anticipated.
Bulls and "bears' on securities alike con-
cede these prospects, and there are few who
deny the possibility that for the next twelve
months, the course of the foreign exchanges
might be such as to bring back to US some of
the 100 millions of gold the country has lost
during the last two or three years of adverse
foreign exchanges.
The Iron Agen has put into tabular
form, and into diagrams, the increases
of prices since the first of the year.
Bessemer pig has advanced from less
than SO to nearly $14 so; No. South
ern did not reach $40 until May, and it
reached $12 in July; steel billets began
at less than SIS, and as late as May
were only SIS so, but at the end of July |
had attained S21 so. Beams advanced |
from 1.2 to 1.5 cents pound, tank plate |
from IL to is cents a pound, common
bar from 8 to 1.2 cents, wire nails from
So cents to So 05, and cut nails from rs |
cents to 81 80. The exceptional rise in |
wire nails is due partly to the opera |
tions of combination and partly to
the fact that the prices of wire nails
were disproportionately low at the be-
ginning of the period. The Iron Age
says that if it could plat costs as wei
as selling prices on its diagrams it
would be seen that profits which prac-
tically did not exist last winter have
attained to very comfortable proper
tions. This is especially true of Bes-
semer pig where the selling advance
has been high, and there has been lit
tie advance in the cost to the furnace
men. Every day the furnaces and mills
are completing contracts taken at lower
rates, and are entering on work con-
tracted for on the better basis, and a
continuance of present prices for time
will Offset good many losses in the
past.-N. Y. Journal of Commerce.
In the 'wet" and dry election held
in Abingdon, Washington county, the
"wets" won by majority of 140. The
town and district has heretofore been
carried by the ''drys' successfully for
six years until their defeat Monday of
last week.