Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1895-06-26


Current of June Goth, we extract the follow
ing
1t is therefore safe TO calculate upon an az
gregate of 425, 100000 bushels if the present
outlook be not impaired by subsequent events.
These approximations imply decrease of
100,0 00,00 bushels of winter wheat and an in
Crease of 10, 600, 900 bushels of spring wheat in
comparison with the production last year as
recognized by the Price Current, or decrease
of 35, 900, 900 in comparison with the official
estimate of the 1894 crop.
The position of remaining supplies of wheat
IN the country at the close of the crop year
now ending will be lower than previously
since four years ago, when marketable sup
plies were practically exhausted. The official
record of the visible stocks then was reduced
to II, 100000 bushels. The visible supply now
is 80, 900, 900 bushels larger than it was at cor
responding date in 1891. How much reduc-
ton may occur before the declining tendency
in such supplies eliminates can not be deter
mined, but it does not appear likely that the
total stock will fall below 80, OOO OOO and it is
doubtful if it decline to this quantity. Per-
haps q, 900 bushels fairly represents the
marketable supply of wheat to be carried for
ward to the new crop year, and $50, 0O0, 900 the
total available quantity for the year. OF this
supply 375 100000 may be recognized as likely
to be needed for home consumption and seed
ing, leaving 10000 as possibly available
for expectation on this view of the position
This not only implies a smaller quantity
available for foreign requirements than thus
furnished by the United States since 1S76-77,
but 1T also means that in order to reach this
extent of expectation the full calculations
now made concerning the spring wheat crop
must be realized, and the marketable wheat
in the country entirely disposed of at the end
of the year. if the rate of domestic consump.
ton be not lessened.
This furnishes an encouraging outlook for
the producer who has wheat for sale this sea
son, in comparison with what has been expe.
rienced in late years. 1t suggests that al
though little or no advance may be made in
current values for some weeks or months to
come it is reasonable to look forward to better
prices than now in sight.
The corn crop in the central regions has
been somewhat retarded in growth by con-
tinued lack of sufficient moisture, but there is
almost uniformly good stand, and the crop
is in position to shape quite encouragingly in
the early advent of needful rains.
The oats crop in the regions west of the
Mississippi River has been benefited in i'm
portant degree by recent rains, and with the
large acreage the indications are favorable for
a fairly satisfactory yield.
most serious shortage is being developed
in the hay crop, notably so in the central re-
gions. In many districts in the States of
Ohio Indiana and Illinois the crop has been
an almost or quite entire failure, and vast
areas which have ordinarily furnished largely
of commercial supplies are now so deficient
as to require shipments from other sources to
meet local wants.
FINANCIAL.
We extract the following from the Finan-
cial review of Henry Clews of June 22nd:-
The week has been a period of continued
expectancy on the Stock Exchange No loss
of confidence in the ultimate additional i'm
proyement of the market could be Observed
but large operators have wisely waited to as
certain the permanency of the May rise.
Simple prudence dictated policy of this Sort
in order to determine how far the expecta-
tons which that rise anticipated had been full
filled. = y X X
Crop reports are more favorable than few
weeks ago. There is every prospect of a
bountiful corn crop, which is of chief import
ance to the railroads. The injury to wheat is
likely to be compensated for by better prices
General trade continues to improve and there
is every prospect of a brisk fall trade when
the time arrives for its commencement. The
iron trade, one of the best commercial barom-
eters, is in excellent condition; values rising
and orders increasing; in fact, before long
buyers will be compelled to rush in their Or
ders if they wish to anticipate higher prices.
The great staples of trade are generally quiet
but steady. In the interior, stocks of mer-
chandise are much reduced. In the East
wages are rising and industries daily becom-
ing more active. AT the same time money is
plentiful and easy; while credits are sound.
importers are preparing for large arrivals, but
the present lghtness of exports causes little
fear of gold shipments, as grain and cotton
bills will soon be available and Europe is
likely to be liberal purchaser of our invest
ments. Under such circumstances the ten
dency of the stock market should continue to
move in an upward direction; point has
been reached, however, when temporary re-
actions will be of frequent occurrence; quick
turns are therefore in order.