The Big Stone Gap post. [volume] (Big Stone Gap, Wise County, Va.) 1892-1928, 1892-12-29
FINANCE AND COMMERCE.
The business Situation

of the HOLIDAYS. There has been no hall
in the manufacturing trades, however
most of which are well supplied with or
ders; and this condition Of affairs i'll the
textile industry has led to larger purchas-
cs of raw material. But distributors who
are getting ready for their annurl Invcn-
tories have been operating more conserva-
lively, as they usually DO at this period
Further gold exports and The higher rates
for money iays''had depressing effect
upon speculation on til stock exchanges
The cotton speculation has continued
active, and there has been an improved
demand from spinners. Notwithstanding
the unccrtantv as TO the late Of an Anti
Option bill, the transaction in futures
have been large, and prices are thirty
points higher than they were Il week ago.
while actual cotton is one eighth OF cent
hirhcr. The movement from the planta-
tons continues moderate: and up to the
close of last week the amount OF the crop
that had come into sight was ,i62,0
bales less than that marketed during the
CORES pomding season last year. Cotton
goods have continued in good rcqust, but
the rustling business has been smaller,
owing to the inability of mill agents to
accent the orders rendered. All lines Of
staple goods are so heavily sold ahead
that manufactures are in many cases re-
luctant to add TO their engagements. Wool
has been in better demand The active
consumption has depleted mill supplies,
and some manufacturers who had been
holding aloof for several weeks have again
been in the market Prices Of wool are in
some instances shad. firmer, and a con-
fidcnt feeling prevails among holders, ow-
inc 10 reduce stocks, the assured heavy
requirements of domestic mills and the
strengthening situation in the wool and
WOODEN goods trade abroad. There has
been'increascd hcsilancy mall branches OF
the iron trade, but no change III prices.
According to the Iroa lgc the statistical
position is stronger, for while production
increased III November nj the rate OF
about ~ 900 tons per month"; there WAS Il
reduction in the accumulated stocks OF
about "a 900 tons.
A drop of : to 81, cents per bushel in
the prices Of wheat represents the COM
| ,ined hcarish effect Of the unprcccdcni
accumulation of wearhouse stocks, the
tightening of the loan market and All in
different foreign demand The crop yield
of wheat has. becn computed at 3OO, 0O0,0oo
bushels, or III 900, 600 bushels less Than
that of last year. If this estimate can be
relied upon the mere shifting of supplies
from the farms to storage cen!ers wonld
| make no difference, bnt the continued IN
crease Of about 5000, 900 bushels week
| in visible stocks disturbs confidence III
the crop estimates, and encourages the
belief that farmers have more wheat yet
to sell than anyone had supposed. AL
though prices have declined this week on
all deliveries, the pressure to sell has been
chiefly speculative, and the offerings OF
actual wheat in leading markets lave
been comparatively moderate. This
shows tat Il very large percentage OF Tie
big stocks is being carried against sales
of futures. In view of the complaints OF
dullncss in The foreign demand and the
continued depression in Transatlantic
freight rates, it is somewhat remarkable
tnat actual exports of wheat AND -four so
far as this season should have reached an
aggregate approaching so closely to the
enormous shipments Of last season.
In five months ofthe crop year covered
Nv Official data now, available the exports,
including -four. have been about 10000.
600 bushels, as against zoe, 900, 900 bushels
last year. This ratio, if maintained, would
make the years export equal 2l6'0oo,oUo
DuSHclS, or OH. ","'"'""' '"'"N'' -"
than those of 1891 Up; but the rate Of ship
meut in the last five months is not likely
"a he maintained Much of this business
mas been in completion of contracts made
several months in advance, and the testI-
monv of exporters is now to the effect
that comparativcly few old engagements
remain unfultilled, and that even at ru!-
inr low prices only occaSi0nl carSOcs arc
heinz sold for future clearance. Corn
values have been well maintained, owing
70 moderate interior receipts, but there
has been no activity in speculation, and
the export trade in this cereal has con-
tnued very quiet. Values of provisions
have advanced, as 4 result of Chicago
manipulation encouraged by the reduced
marketing of hogs. Prices are higher by
80 cehts per barrel on pork and ;'2laa cents
per 100 pounds on lard. According to the
Cincinnati Price Current. Western pack
ing operations since November 9TH have
consumed 100000 hogs, as against
3.25O. 900 last Seasonal decrease Of
$50 600 head.-Philadclp ha Record.
xvlJIc a CENTURY OLD.