The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1889-10-11
TRADE REVIEW.

The Weekly Report shows a Fairly Active
Business and the Probable Collapse OF
the Sugar Trust.
NEW YORK Oct a-R G. Dun & Co.'s
weekly review OF trade says: A closer
money market as was anticipated last
week, has checked operations to some ex-
tent. The shipment of S. 0O0, 600 gold to
Europe by a firm engaged in placing two.
large loans for foreign governments, and
therefore anxious to prevent The further
advance in Bank of England rates, was all
the clearer evidence of the actual demand
abroad, because made at small
loss if reckoned at the current rate
of exchange. A sudden fall in the rate
from $4.ss to SAs6 was followed by an up
ward movement again and it seems not
improb able that the exigencies of the
Argentine Republic and the placing of the
Russian loan may for some time to come
affect the money market here. October
disbursements and moderate purchase Of
bonds have made the market easier for the
present. but the rate on call. after rising
from 5H to per cent and even to 10 per
cent. for short time, is yet about I per
cent. with an improvement in the COM
mercial loan market
Improvement in business throughout
branches 1t is not up to September record.
Chicago finds business better than year
ago with heavy country orders, showing
a demand and easy financial condition
through the West The years receipts of
cereals fall of little. but of provisions
are nearly doubled. Cleveland finds all
branches improving and factories full of
orders. Pittsburgh notes higher prices for
M OF ha ole hv1o opfi
with the works all operating and
the coal trade dull Throughout the
West excellent crops are the basis of large
buying by farming districts, and con-
fident hopes as to trade for the rest of the
year. The bank exchanges for September
show an increase over last year of over
2 per cent at New York; 81 per cent at
Boston, Philadelphia ami Chicago and TX
per cent. all other cities taken together.
The iron business Is in some danger of
running into an unhealthy boom, so great
is the anxiety of many to stimulate the
demand. Several large furnaces are about
going into blast and Southern No. is still
sold here at SIG 10, but higher prices than
SIS are paid for desired brands,
which are scarce and structural,
plate and wrought iron pipe are
strong. Rails have actually sold for 500
in considerable quantity at Eastern works,
but Philadelphia quotes S3l aud the West
correspondingly higher prices. Only
8 800 miles of railroad have been built in
nine months of this year.
The sugar trust seems not unlikely to
follow the copper syndicate and the cot
ton corner-at least as far as prices are
concerned. Raw sugar is lower, the de-
mand for consumption being slack and
mean, white heavy sales of sugar trust
stocks have depressed the price Cotton
oil is also heavily sold and declined
sharply. Tin is lower and quiet at So. 81.
The coal market improves some in prices.
Speculation in wheat has weakened
and the price Is Ike lower, with sales
Of $4,000 900 bushels here. Corn is 1
cent and oats IL cents lower, and pork
steady. The general level of prices is
nevertheless shade higher than Octo-
Der and has advanced X cents since
September, a result due rather to partial
failure of some crops than to increase Of
monetary supply.