Omaha daily bee., 1889-11-02
A WEEKLY REVIEW OF TRADE
The Volume of Business Still Con-
tinues Large.
MONEY MARKET FLUCTUATIONS.
A Vast Amount OF Foreign Capital
Coming Into the Country-Prices
Generally Stinening-Busi-
ness Failures.
Dun'a Statement.

New York, Nov l. 1-TSpecial Telegram to
The BEE. l-R. G.. Dunn s. Co.'s weekly re-
view of trade says: Money mas been work
ing closer during the past week, falling TO
per cent last Saturday, but then rising
steadily to per cent, even more being peid
in some cases. II does not appear that the
change has any other cause than the demand
from the interior, which continues later this
year than usual. and on account of great
business activity.
The foreign situRtion has not essentially
changed, the Bank of England having gained
l,640, 900 for the week. while the Bank OF
France lost $3.50 900. There is scarcely any
evidence OF important movement of securl.
ties either way, but the sale
of the Minneapolis -four mills and
Northwestern elevators TO an English syndi-
cate for s6,2j0,0O0 is sample of many in
dustrial operations In progress, which, in the
aggreg ate, brings vast amount OF foreign
capital into this country.
The volume of business continues very
large, though signs OF a reaction begin 10 APP
pear al some of the larger centers of distri-
button. Thus the gain of 91S per cent in ex-
change at New York last week was due to
stock operations, and the clearings at Boston
fell below last years again, and
at Boston, Philadelphia and Chicago
together the increase was but "a
per cent, but at all other points together it
was over 10 per cent.
Prices are stiffenlng, though the general
level has advanced scarcely a quarter of one
per cent in two weeks. In the speculative
markets there has been more activity, and
except in pork products and coffee, an ad-
vance. These changes call for more money
in the movement of products, and building
operations are also unusually active at many
cities.
Liquidation in trust stocks continues, par
ticularly in cotton oil, which has been
heavily sold Mt a severe decline. But rail-
road stocks have been very stubbornly held,
and average in price almost exactly as they
did a week ago.
Arrangements between the Chicago &
Northwestern and the Union Pacific
and rumored salo of the Chicago t&
Alton look toward the consultations
of great systems, and IN the end of a pro-
iected railway trust of gigantic proportions,
but meanwhile popular disfayor may lead to
interruptions by congress OF state legisla-
lures. For the present, ut all events, the
visible tendency towards consolidation en-
courages holders of securities, and the traffic
i'll progress is large and profitable.
Speculation in breadstuffs has advanced
wheat 15s cents and corn PIC cents on sales
of q, ,000, 900 and 10000, 600 bushels respec-
lively, but exports do not increase. OIL has
advanced 33s cents, oats q and cotton e.
Notwithstanding port receipts continue
larger than last year, both receipts and eX.
ports showing gains of 10000 bales for the
Coffee has declined K of cen, upon
larger crop estimates from Brazil. The
sug9r market is only nominal, and prices of
refined are not well maintained, but
the trust stocks have been more firmly
supported. India rubber is stronger at IL
cents for paraiine, and another corner in tin
is feared, the price being 2l4 cents. Coal
has been stiftencd by cooler weather, but
still sells about 40 cents below circular
prices.
Iron and steel in all forms are in great de-
mand and firmly held, with shade of ad-
Is expressed that the improvement has been
too rapid to be maintained, aud some re-
action is deemed possible
The accounts from other cities are unus-
ually encouraging. Chicago reports money
becoming tighter because of country de-
mands. but no apprehensions regarding the
| immediate future. An active trade in dry
| goods, wool and hides, and dullness in cloth
| ing and boots and shocs are reported.
At Pittsburg window glass has been
advanced 10 per cent, aud rise
| In coal is expected. Iron products are firm.
| At other points trade is fun and active for
| the season, with scarcely an exception. but
| caution in credits, and Cleveland some strin-
| gency in money, though collections are good.
| AT Detroit the ship yards have good con-
| tracts and manufacturing works are fully
| employed.
In general, the outlook continues good,
though at some points the monetary situa-
| ton is for the time not entirely satisfactory.
| The business failures during the last seven
| day number for the United States 229, and
| for Canada 80 or u total of 26l failures, as
| compared with u total of 225 last week, and
| 223 the week previous to the last. For the
| corresponding week last year the figures
| were 2i3 failures in the United States and 80
| in the dominion of Canada