Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1895-07-17
COMMERCIAL AND FINANCIAL
THE GRAIN TRADE-CROPS, &C.

The Cincinnati Price Current of July 18th
says
"In some localities, particularly in Missouri,
there has been so much moisture recently that
some injury to ripened and harvested wheat
and oats has occurred or is being apprehend-
ed.
The spring wheat crop maintains good
promise, no serious interference with the
growth having occurred.
The later returns concerning oats are re-
| fiecting better average, the yield having
been materially helped by rains in June. The
crop is very irregular, but excellent yields are
reported in many regions, and a fairly good
crop seems to be indicated.
The corn crop continues very encouraging,
although the temperature for some days in
the central regions has been a little cool at
| nights for its most favorable development.
Limited injury from chinch bug is reported.
While the shortage in the hay crop is still
apparent the recent rains have modified the
situation somewhat b. improving the condi-
ton of grass lands and pasture.
The Government average for winter wheat,
65.S, indicates Sdecline compared with
month ago fully equal to prevailing expecta-
tons, and closely approaches the low record
of July, 1885, when it was So, resulting in an
average yield of 956 bushels for winter grain.
| September wheat closed week ago at Chi
cago at III, compared with S27 as the previous
| high point. On Monday the market made a
striking decline, followed by a greater break
on Tuesday when Cpl was touched. from
which there was rather sharp rebound on
yesterday, closing at $50. Just what is to be
expected of the near future is not at all clear.
We have no opinion to offer.
| September wheat at Chicago closed &c be-
low the highest point of the week 23c above
! the lowest point, and sc lower than week
ago.
| Corn at Chicago for September closed 3sc
below the highest point of the week, 1ac above
the lowest point, and 2gc lower than a week
ago.
| Wheat receipts at primary markets were
| 100000 bushels for the week, against 9l2,-
600 the preceding week, and 1,10S,00O last
year.
Corn receipts were 1853, 900 bushels. against
1872 900 the preceding week, and 681, 900 last
year."
| FINANCIAL.
| We extract the following from the Finan-
cial Review of Henry Clews of July 13th-
'Of the distant future, it is needless to say,
it continues highly promising. Crop reports
show continued improvement, and at the
lower prices there ars better prospects of ex-
ports which are needed to prevent gold ship
ments, unless we should be fortunate enough
to send securities in continued large amounts.
We are almost assured of bountiful corn
CROP and for all our cereal products are
promised better prices than year ago.
Western jobbers are, without exception, pre-
pairing for heavy fall trade; and it is not 10
be supposed after recent lessons in overtrad-
ing that they are making such liberal pur-
chases of boots, Shoes dry goods and clothing
without knowing that the farmers will be
compelled and able to buy more freely than
they have been doing. Even more important
than the better agricultural outlook is the
great industrial revival, which has made such
phenomenal strides since February last, and
which is destined to continue for months to
come with little interruption.
| Every lndlcatlOn points 10 unuSuai ACTIVITY
during the coming Fall; and the iron trade,
always one of the surest barometers, is point
ing in that direction with exceptional persis-
tency. AS for doubts about the Syndicate
and the Treasury outlook they are without
foundation. No alarm need be caused if the
Treasury is compelled to borrow few more
millions. Congress will soon be obliged to
provide new sources of revenue; and there is
a probability that the improvement in bust
ness will increase the public revenue, which
has not yet been taken into account The
vital point is the coin reserve. That is well
above the limit, and not at all likely to be in
trenched upon. Alarm about the silver craze
is equally unnecessary for it is already effect
ually broken; and nobody well informed OF
of experienced judgment supposes that the
Syndicate is going to juggle with the exchange
market in order to force new bond issue
The profits on the latter would be nothing il
comparison with the injury that such trick
, would work in other directions; to say moth
ing of the loss of honor and reputation which
such eminent bankers would not think of in
curing"