The Penn's Grove record., 1888-11-24
NEW YORK LETTER
NEW o r Nov, 49,.

OF the state OF legitimate trade,
Bradstreetis says: 1.-THE expectations
Of the merchants generally, during the
past fortnight, that the week following
election would bring a revival in the
general demand for staple goods, has
proved to be well founded. At almost
all the cities reported, an increased
xolumeQfst trade ia noted. The increase
Is considerable at Chicago, Omaha and
New Orleans. There is a moderately
steady demand at Cincinnati, Boston,
and Galveston, which send the least en-
,oouEaging reports received. The re-
,nswed activity is noted in hardware,
groceries, general dry goods and boots
and shoes, and a better feeling charae.
terizes nearly all markets. Buying has
not started up quite SO promptly iu Col
orado. and New Mexico, but Kansas.
Nebraska and West Missouri are quick
10 supply present and prospective wants.
UnfayOrable weather has not been able
70 prevent the Improvement outlined,
and with settled cold weather the belief
Is widespread that increased activity
will result. West-bound rates are ex.
pected to add some strength to the re-
order demand for seasonable goods and
facilitate shipments Of spring goods.
The general money market remains
easy. Kansas City is sending funds
East, but at Chicago and Omaha money
is more active. At the East the suppl,
greatly exceeds requests for discounts.
Mercantile collections at the West,
Northwest and South continue generally
favorable"
} The New York stock market was dis.
turbed by a cut in East-bound rates by
the New York Central and fears of a
general trunk line rate conflict. Foreign
holders were free sellers, though later
on prices rallied in anticipation Of q
speedy harmonization. Money at New
York is easy. Call loans, 2a2} pc,
cent. Commercial paper is scarce ano
rates are lower. Foreign exchange II
firm and advancing on the scarcity OF
commercial bills and the presence OF a
short interest.
Nearly 100, 0v0 bushels of wheat was
exported from the Atlantic coast this
week. one half of it from New York
City, less than was shipped from Port
land, Ore. San Francisco also export
ed over 800, 600 bushels. The total
shipments, both coasts, wheat and loul
as wheat, are 2,0S2, 6l8 bushels against
1,243, 1923 bushels last week, and from
July / to November 16 tho total is A.
566, 600 bushels against 81, 1868, 00O
bushels in 1887.
The cotton crop report OF the Ma
tional Agricultural Department Is les
definite than could be desired. 1t Is
generally thought in the trade to point
to a crop of about 100000 bales,
against 7,050,000 bales last year, but
the contingencies emphasized as indi-
eating a decrease from last years out
turn leave separate paths for bulls ant
bears. Raw wool is more active. ever.
excited, with prices 1c higher. Specu
lation is more conspicuous, and somt
leading manufacturers are operating
freely. The belief is growing that sup
plies of domestic will prove short.
Pacific coast and other Western mar
kets are very strong. Transactions ART
large.
Most of the wooden mills are well
supplied with orders. Cotton goOus
are, with few exceptions (bleacheC
shirtings and cambrics), steady IN pric'
and moving in fair volume. increased
distribution is confidently expectet
with the arrival Of settled cold weather
Clothing wooden are firmer; other varie
ties are not materially changed.
Raw sugar at New York has ad'
|wancsd l-l6aac on q more urgent re
Equest from refinerA diminishing sup
plies and firmer fOreign markets. Re
fined remains about steady, with pro
duction somewhat in excess of distribu'
ton. At San Francisco, however
refined has advanced Sc. Speculativ,
trading IN coffee, both at home and II
Europe, has been dull at times, almOsI
stagnant, with the drift Of prices to
wards depression. Purchases for con
sumption, too, have been light and ar,
not stimulated by q slight weakening
In price. p
Il. G. Dun g. Co., say: "Wheal
speculation has been sat upon heavily
BY the stoppage Of exports from thu
| Atlantic ports and the enormous move
| ment from the Pacific coast. In tn,
month Of October 3, 265,350 bushels Of
/ wheat were exported from Pacific port
and only 303, 800 from all the principa
Atlantic ports. and. during the last five
weeks, Atlantic shipments have beel
only 176, 600 bushels, against 3,3S2,49l
last year. Yet speculative holders Art
| stubborn, and the price has decline
only II cents for the week, with sale
here Of 1900 900 bushels. AnotbeI
| depressing feature has been the expor
| Of 4, 70O,O 600 bushels corn in five weeks
against I, $4,000 600 last year, pointing Y
less foreign demand for wheat. Witt
assurances of large supplies, corn u
| cent cheaper, with speculation marrow,
and sales of only 400, 900 bushels TO
the week. Oats are n cent dearer
| cotton has risen an eighth, with sale
Of $40, 600 bales, and coffee has risen
quarter, with sales Of 1000 bags
while oil, after Q little advance, close
us last week. The failure of monetar.
abundance to stimulate further speeula
ton in products Is q significant fea
ure."
HJEUC I'M