Wichita eagle., 1889-11-02
BRISK AND PROMISING.
Business Agitated by Railroad and Milling
Deals-Prospects Good.

NEW YORK, Nov. 1.-R. q. Dun & Co.'S
Weekly Review of Trade says: Money has
been working closer during the past week.
falling to per cent last Saturday. but
then rising steadily to 9 per cent, even
more being paid in some cases. 1t does
not appear that the change has any other
rause than the demand from the interior,
which continues later this year than usual
and on account of great business activity
is unusually large. The foreign situation
has not essentially changed, the Bank of
England having gained 81 $40, 900 for the
week while the Bank of France lost $780,
D00 There is scarcely any evidence of i'm
portant movement of securities either
way, but the sale of Minneapolis flour
mills and northwestern elevators to an
English syndicate for So, $50, 600 is a sample
of many industrial operations in progress
which in the aggregate bring a vast
amount of foreign capital into the
country.
The volume of business continues very
large though signs of a reaction begin to
appear at some of the largest centers of
distribution. Thus the gain of 81 per
cent in exchanges at New York last week
was due to stock operations and clearings
mt Boston fell below last years again and
Mt Boston, Philadelphia and Chicago to-
getner the increase was but PA per cent.
but at all other points together it was over
10 per cent.
Prices are suffering, though the general
level has advanced scarcely a per cent in
two weeks; in the speculative markets
there has been more activity and except in
pork products and coffees is advancing
These changes call for more money in the
ant of mr. rafc nd hvrI1H
ations are also unusually active at
many cities. Liquidation in trust
stocks continues, particularly in cotton oil.
which has been heavily sold at a severe
decline. But railroad stocks have been
very stubbornly held and average in price
almost exactly as they did a week ago.
Arrangements between the Chicago 81
Northwestern and the Union Pacific and a
rumored sale of the Chicago & Alton look
toward consolidation of great systems and
in the end a projected railroad trust of
gigantic proportions, but meanwhile
popular disfavor may lead TO interruption
by congress or state legislature for the
present. At all events, the visible tendency
toward consolidation encourages holders
of securities and the traffic in progress is
large and profitable
Speculation in breadstuffs has ad-
vanced wheat 13sc and corn 2l4c on sales
of %, 600, 600 and 1910 1900 bushels respec-
lively. Dub exports uoD increase. vi mas
advanced 5$sc, oats sc and cotton sc,
Notwithstanding port receipts con-
iinue larger than last year. both re-
ceipts and exports showing gains
of $4,000 bales for the week. Coffee
has declined &C upon larger crop
from Brazil. The sugar market is only
nominal and prices of refined are not well
maintained, but the trust stock has been
more firmly supported. india rubber is
stronger at 7lc for parafine and another
corner in tin Is feared, the price being
2lSc. Coal has been stiffened by cooler
weather but still sells about 40c below cir
cular prices Iron and steel in all forms
are in great demand and firmly held with
3 shade of advance in bar iron and nails,
but the feeling is expressed that the i'm
provement has been too rapid to be main
tanned and some reaction is deemed pos
sible.
The accounts from other cities are
unusually encouraging. Chicago re-
ports money becoming tighter be-
cause of country demands, but no
apprehenslons regarding the immediate
future. An active trade in dry goods,
wool and hides, dizziness in clothing,
and boots and shoes is reported; at Pitts
burg window glass has been advanced 10
per cent and rise IN coal is expected: iron
products are firm. At other points trade
Is dull and active for the season. with
scarcely an exception, though Milwaukee
notes unfavorable weather ami caution in
credits, and Cleveland some strngency in
money, though collections are good at De-
troit. Ship yards have good contracts and
manufacturing words are fully EMPLOYED
In general the outlook continues good,
though at some points the immediate stu
alton is for the time being not encouraging.
The business failures during the last
seven DAYS number for the United States
80, and for Canada b, or a total Of Pol
81 ,-aI }, .nD-
last week and 25S the week previous For
the same week last year the figures were
24S for the United States and 50 in the
dominion off Canada.