The herald., 1895-06-08
Effect of Bad Crop Reports
Upon Eastern Markets
REVIVAL OF CONFIDENCE
Europe Attaches No Importance to Our
Silver Agitation
Inquiries for California Lemous-First-Class
Cherries Grown In Southern CaIifor-
uia-A Wall From Florida

Adyices from Chicago and New York
are more favorable for the late shipments
of oranges, although there is a serous OBJ
stacle in the daily arrival Of 1000 to
1000 boxes daily from Mediterranean ports,
which are auctioned off, and being of
inferior grades go for a song, and thus
damage the entire orange market.
Inquiries are coming in constantly for
California lemons, and there are none to
supply the demand. Offers are made of
$3.50 and So +. o. b. California, but they
so begging.
From Henry Clews e. Co., New York,
we get the following on the outlook as to
crops and markets:
On the Stock exchange there has been
this week some interruption of the pre-
vailing buoyancy. First in London and
here there was disposition to realize the
large profits on the late advance in prices !;
all of which was natural and healthy.
Next came discouraging reports of SER
ious injury to the crops from the late
squirt OF cold weather, together with rum
ors of injury from insect pests; to which
the market was naturally sensitive after
having counted upon the prospect OF fine
harvest.
The market appears to have discounted
the worst probabilities respecting the
wheat crop, and now begins to consider
the other side of the case. So far the facts
are that the crop is unusually backward,
owing first to drouth in the early stages
of its growth and then to check from sud
den exposure to severe cold. 1t is not
impossible that this may, in any case,
prove a permanent injury: but at the
same time the extent of the injury must
greatly depend upon the future course OF
the weather. 1t is not at all impossible.
nor even unlikely that with plenty of
moisture the crop may yet turn out fair
or average one.
This year, owing to the high price of
corn and the low price of wheat, the acre
age of Indian corn is likely to be unusu-
ally large, and at present there are no
conditions unfavorable to the prospects of
the crop. Taking the agricultL raj pros
poets as they exist today. there is nothing
in them really incompatible with the
hope of good harvest.
Apart from these crop considerations,
the underlying conditions and tone of the
market remain unchanged. There is no
abatement of confidence in the perman-
ence of the revival of general trade which
set in with the spring business. Among
those in close contact with our industries.
the conviction appears to be gaining
ground that we have entered upon per-
iod Of unusual growth and prosperity in
manufacturing enterprise generally, and
that in some of the leading staples, we
are entering the lists fo1 an active compe-
tition in the worlds markets.
Europe seems to no longer attach any
serious Importance TO the position Of
the silver question in this country. OBJ
servers th ere seem to have reached the
conclusion that our agitation about free
silver coinage is but an ephemeral case
of popular ignorance. destined TO disap-
pear under the influence of the conserva-
tive common sense of the people at large
and their judgment is a safe one.