The Penn's Grove record., 1888-11-17
NEW YORK LETTER.

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NEW YORK LETTER
New YORK, Nov. 9.-Brddstreet,
says: Special kilograms from leading
business centres throughout the coun'
try point to the natural result of The
excitement attending the presidential
election within the week-a decreased
distribution of general merchandise
and a falling off in orders. Sufficient
tilue has not elapsed to. permit any radi.
cal changes, although, taking the coun.
try as a whole, the tendency toward re.
action and a renewed activity is plainly
visible. There is already a distinct i'm.
provement in several lines ut Boston,
New York and Philadelphia, notably
in wool and woolens, and cotton goods.
Chicago and Kansas City announce a
fair volume Of trade, despite the inter-
ruption by election, and Chattanooga,
Tenn, and Mobile, Ala, send Ell.
cOuraging Industrial reports.
From Duluth word comes that the
commercial and industrial outlook is
excellent and an improving and pros
porous Autumn's trade prospect is re-
ported. Business is fairly active at
Galveston, Savannah, Atlanta, Kansas
City, st. Louis, Richmond, st. Paul,
Milwaukee and st. Joseph, but at
Indianapolis and Louisville prolonged
rainy weather as we'll as political dis
traction have interfered with business.
ttarnnntt1n nn11antiAnS M Glow, ar mi
cago. but good or fair and improving ut
Columbus and Cincinnati, Nashville,
Chattanooga, Atlanta, Kansas City and
elsewhere.
Minneapolis merchants count upon
The early admission Of North and South
Dakota, Montana and Washington Ter
ritories as states, which, with the con
sequent revision of their collection and
exemption laws, promise to help trade
1t the Northwest.
The New York stock market has
been inactive, interest centering on the
election, but showed some strength both
before and after Tuesday, though the
coal stocks are weak Oh the decline of
The anthracite "boom." Money at
New York is easy, with call loans 2
per cent.
Raw sugar arrivals, warehouse de-
iiveries and MEETINGS have decreased and
importers have offered stocks very re-
servedly, which has caused an advance
of 1-16c. The Louisiana sugar crop is
turning out unsatisfactory. Refined
sugar prices have been marked down fc
per pound without quickening inquiry
nlt.rAtltIlAlp SnnnpIDttxa min fAN
coffee have advanced 9c per pound OIL
reduced Brazilian crop estimates and IA
more urgent request in the New York
market for covering purposes. Only a
moderate distribution has taken place
within the past few days.
Receipts of wheat have decreased
heavily at Western and New York
markets as compared with the move
ment one year ago; exports from the
Atlantic coast are at a practical stand
still, the Pacific coast being the only
shipper of wheat or grain in any guam
tity. Flour continues to go abroad
rom Eastern ports, prices remaining
steady. Wheat has been slow and the
price sa1ac higher. Corn has advanced
3a4Ic per bushel on the advance abroad,
Dwing to diminished shipments from
the Black Sea. Exports from both
;oasts of the United States July l to
November 8 aggregate Al. 365, 600 BUSH
els, against So, 78S, 900 bushes last year.
Cotton is 3-16c higher, but quiet on i'm
proved English cotton trade reports,
hardening Southern markets and less
favorable crop advices. In the abs, nee
of official advices popular estimates of
the present crop approximate 1000, 00O
bales. Ellison's annual estimate says a
crop of 400, 600 bales is necessary to
maintain ruling rates.
There has been an improved demand
for dry goods within three days. Lead
ing cotton goods lines are sold ahead.
Colored cottons are selling freely at
ate advances and are firmer. Sales OF
wool have been large Notwithstanding
The election excitement, and the mar
aet remains strong. For leading de.
scriptions prices are,1a2c higher than
a week ago, dealers now being very con
fdent and stocks comparatively light.
The wool market has been decidedly
more active and stronger, but, while a
more confident feeling prevails in the
goods trade, Improvement in orders OF
purchases is not yet observed. In many
branches of the manufacture it is fear
ed that any advance in prices would re.
suit to greatly increased importations.
Cotton goods have been firm with a
strong u%ndertone, because stocks are
unusually light. A similar cause
strengthens the boot and shoe trade, in
which actual deliveries this year thus
far have been 7 to s per cent larger
Than last year with net prices averag-
ing a shade better, while stocks are UNI
usually narrow. The coke and Goa
trade is very active at Pittsburg ana
the output of anthracite coal, 9l3, S49
IONS for the last week, has been for the
year thus far 81, 161. $50 tons, against
27,879,463 last year, a gain of nearly Il
per cent.
The business failures occurring
throughout the country during tie last
seven days number, for the United
States, 1914, and for Canada, 80, or u
total of 226, as compared with 275 last
week and 254 the week previous to the
last. For the corresponding week of
last year the total was PAS, made up OF
225 failures in the United States and
20 in Canada.