Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1895-01-09
COMMERCIAL And FINANCIAL
THE GRAIN TRADE-CROPs, sc.

THE GRAIN TRADE-CROPS, &C.
The Cincinnati Price Current of January
3rd, says
There has been liberal fall of snow over
the Central West the past week, and large
portion of the winter wheat area has thus re-
ceiyed protection under the low temperature
which has prevailed portion of the time.
while the snow will also prove beneficial in
furnishing needful moisture in some regions
The general position and outlook of the crop
is assuring.
In various districts in Ohio there have been
fairly good offerings of wheat, but elsewhere
almost uniformly very limited especially for
shipment, and the indications are that the
tendency is in the direction of even smaller
marketings in the near future, unless an i'm
provement in values should develop, and
prove acceptable, where there is now a dispo-
sition to hold for better prices or for local con-
sumption in feeding operations. 1t is in evil
dence that the general result of wheat feeding
to stock, under the relative prices of this grain
and corn. has been quite satisfactory, but the
more plentiful supplies of corn have widened
the difference in prices to some extent in
many localities, which has a tendency to
lessen the feeding of wheat, but it is to be
observed that the decrease is not greater than
the previous calculations recognized as prob
able.
There are fairly good offerings of corn in
various regions, and unless prices should
prove disappointing they may be well main
tanned in the near future, but some reduction
will quite likely soon be developed. 1t is to
be remarked, however, that the cold weather
of the recent past has served good purpose in
drying out corn in many localities, and put
ting it in better condition for marketing.
In the wheat markets the changes in prices
have not been very radical the past week, but
the range has been lowered, and the close at
Chicago is 1a1ac lower than week ago for
future deliveries. The visible supply, con-
trary to general expectations, was reduced, but
this had no essential effect
The Price Current last week alluded to re-
cent conclusions implying 125 900, 600 bushels
of wheat for the years export surplus, on the
basis of total crop of 515, 100000 bushels.
This would fall 100000 bushels below the
quantity exported ii the preceding year, and
if the calculations are approximately correct
this result would necessarily imply that the
year would end at about the minimum point,
or the exhaustion of marketable supplies un-
der ordinary conditions. But while this is a
strong feature in the outlook of ultimate con-
dltions the fact that warehouse stocks are so
large and likely to continue liberal for many
weeks to come will probably cause any decid-
ed advance in values to be deferred until the
season is much further advanced.
May wheat at Chicago closed 1sc below the
highest point of the week, 4c above the lowest
point, and lie lower than week ago.
Corn at Chicago for May closed II below
the highest point of the week, &c above the
lowest point, and &c lower than a week ago.
Wheat receipts at primary markets were l.
$4,000 bushels for the week, against 2, 175OO0
the preceding week. and 3, 239, 900 last year.
Corn receipts were 2, 165, 900 bushels, against
1857 900 the preceding week, and 1923, 900
last year."
FINANCIAL.
In 2his financial review of January 9Th
Henry Clews says favorable legislation IS un-
uOuotcuiy luC SiodI pdudCed plcSouI, lOi
when the questions of the currency and rail
road pooling" are favorably disposed of all
business interests will be ready to take fresh
hold for long pull, strong pull and a pull
altogether.
Referring to the Pooling Bill, he says
ut is now quite likely that the Senate will
take it up soon and that it will pass that body
has ba
with the currency question, should be settled
without loss of time. Delays are dangerous
as was proven last year in the case of the tar
iff The revolution at the polls last Novem
Der was Enthusiastically largely due to the pro-
longed tariff agitation in Congress. 1t should
therefore, be a warning against currency tin
kering in the present expiring session of the
same Congress. All that is really desirable
for the present short session to do Is to pas
the Railroad Pooling bill and to pass bill tt
amend the law which authorizes the issue o.
5 per cent United States bonds by reducing
| the rate of interest to per cent, and, in con
sideration for making that low rate, the bond
to be payable both principal and interest, il
gold coin. Ifsthis is done it would meet the
present emergency, and would beyond doubt
stop the export of gold and the present drair
| upon the Treasury in consequence. Europ,
would take an unlimited number of sucl
bonds and pay a handsome premium TO
| them. and would prefer them to our gold
! This | do not hesitate to assert, as l know
whereof l speak. With this legislation, to
gether with the appointment of commission
| by President Cleveland. to be comprised O
| the newly elected members of Congress, z hal
Republicans and half Democrats, to formu
| late currency plan to report to the next Con
gress, the business situation would materially
change for the better, and confidence ant
courage would revive and thereby immensely
stimulate business enterprise, now so much
needed in all sections of the country. TIL,
Governor of New York State, in his message
just issued to the Assembly, says: II con
graduate you and the people whomIyou repre-
sent that we commence the new year undel
favoring auspices. The business outlook i:
much improved as compared with its condi
ton year ago. The worst of the hard times
has apparently passed away and we may rea-
sonably hope that during the ensuing year we
will be blessed with fair degree of prosper
ity." These are encouraging words, and
without question voice the sentiment of the
masses. The should now be onward and
onward, slow but sure.