The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1892-11-26
The STATE Of TRADE.
Foreign Exchange Does Not Yet
Justify Exports.
AN EXCELLENT BUSINESS OUTLOOK.

Enormous Transactions in Cotton.
Wheat is Comparatively Inactive.
The Condition of the Great indus
tries Decidedly Favorable.
NEW York. Nov. 26.-R. @. Dunn
& Co.'S weekly review of trade says:
The announcement that gold would be
exported, though not in large amounts,
has not necessarily as much meaning as
many suppose. Foreign exchange does
not yet justify exports, and movements
not warranted by the state of exchange
may be due to temporary and trifiing in
fiuences. But exports of gold in No
vember have been known but once in
thirteen years, and are likely to affect
speculative markets. The underlying
cause is the excessive production of cot
ton and wheat last year, which over
| filled the worlds markets, and thus
caused low prices here this year and
small shipments of cotton. Apprehen-
sion about American finances has also
affected European purchases of stocks,
but monetary receipts abroad are result
! ing in part from Russian demands, and
seem to be the immediate cause of the
call upon this market. A large outgo of
gold at this season might be important,
but there appears ut present no reason
to anticipate large export.
| The condition of business throughout
the country appears excellent, with the
volume of trade greater than in any pre-
vious year. At Boston trade Is good,
prospects are considered excellent, and
money is easy at lower rates. Mer-
chandise is fairly active, and though
wooden goods are quiet, the mills are
well employed, while sales of cotton are
very large with an advance, and gro
ceries are in satisfactory demand.
Enormous Transactions in Cotton.
In speculative markets cotton has alb
sorbed interest because of enormous
4 transactions, amounting to about six
million bales, or nearly the entire crop
in two broken and one full week. The
sales this week have been /, 800, 900 bales,
and the price has advanced five-sixteenths
with small signs of the reaction. Low
crop estimates now prevail at the south
on the ground that frost has done much
damage. Wheat is comparatively in
active, with three-eighths of cent de-
cline, and oats are unchanged, with
small transactions. Pork products are
higher. Coffee is also stronger by half
a cent.
The condition of the great industries
is decidedly favorble. Perhaps the boot
and shoe manufacture fare best of all mt
the moment. 1t has been phenomenal
autumn in womens light goods. Woclen
mills are still busy and sales of wool
greater than year ago. The cotton in
dustry is thriving everywhere. In iron
the market remains firm,
Money has been steady at per cent,
the treasury having added slightly to
circulation by issuing 100000 NOR
notes. Exports for three weeks fall II
per cent. below last years, and imports
are much larger Stocks have been
weaker, but there is no sign Of especial
disturbance.
Business Failures.
The business failures occurring Though.
out the country during the past seven
days number, for the United States 1850.
Canada 20 making total of 200. as
compared with 240 last week and 2l0 the
: week previous TO the last. For the cor.
responding week of last year the figures
were 295, representing 237 failures in
, the United States and 81 in the DoInin
! ion OF Canada.