The record-union., 1894-06-09
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FINANCE AND TRADE.
Review of the Conditions During
the Past Week.

Review of the Conditions During the
the Past Week.
New York, June S.-Bradstreets FL
qad7,cidL ReuieaU will say tomorrow Spec
ulative activity has been on slightly
increased scale. Narrow conditions, how
ever, continue to surround the market,
and the want of any general interest in
railroad or other securities is apparent.
The professional element in Wall street
and other cities seem to be still respon-
sible for the bulk OF transactions in the
share list, though this week has presented
evidences of renewed activity OH the part
OF the larger spectators. The extensive
short interest has furnished material for
a fairly general Improvement in quota
tions, based on the adoption of the sugar
schedule in the Senate and the rejection
in the House OF the bill to repeal the 10
per cent. tax on State banks and the ad-
vance in wheat. In this movement sugar
hung back and the lead was taken by the
railroad stocks, which secured advances
in the face of continued unfavorable earn
ings and reports of damage from storms,
as well as serious Interruptions to traffic
from the effects of the coal strike. The
purchasing power has been confined to
covering of short sales and manipulation
cumstance. Some slight purchasing from
London is thought TO be speculative, or
to have originated in part on this side of
the ocean. The fact that foreign exchange
holds steadily at the gold export point,
and that this week S16, $4,000 will be
shipped to Europe, is conclusive as to
the unwillingness OF foreign interests to
purchase Americans in any quantity.
Nearly all the unfavorable conditions
of the past few weeks continue to ex-
ercise an influence. The few exceptions
where Improvement is noted are OF prac-
tically local importance. Retail trade at
many centers has been intertered with
not only by unfavorable weather, and by
further restrictions of the purchasing
power of thousands of wage-earners, but
by further industrial trouble or by
shrinkage in products. Business failures
do not increase materially in number or
in importance, the total being 207, COM
pared with lS3 last week, 293 in the week
a year ago when the commercial and
financial disturbance was beginning to
make itself felt
The seesaw of prices tips in the oppo-
site direction this week, most strik-
ingly in cereals, oats having advanced
II, wheat 80 and corn Is cents. Potatoes
are 20 cents higher. Pig iron is up
sharply at st. Louis, and live stock at
Kansas City has advanced. Conspicuous
decreases in the prices of staples reported
are in leather and wool, due to having
receipts of the new crop.
At large Eastern centers there is no
general improvement in business. New
England cotton mills continue to produce
in excess of demand. There are evil
dences of Improvement reported in the
West. In Louisville there is more de-
mand for groceries. Leaf tobacco is quite
active, good business being reported.
There is more doing among jobDers in
hardware in Chicago, although the in
terror merchants tributary to that market
have not begun to buy in advance of
actual needs, and on the other hand the
spread of the coal strike has checked
business there.
Available wheat in the United States,
Canada and a1loat decreased more than
10, 100000 bushels last month, against an
average decrease in the month OF May in
five preceding years of about 10000
bushels each year. The five months de-
crease of domestic and Canadian wheat
stocks in 1894 is a high average, compared
with the proportions of the five preced-
ing years. Notwithstanding these ex-
hioits, Bradstreet's returns point to an
accumulation in the United States and
Canada of $4,000 900 bushels of wheat on
June lst, only $500 bushels less than on
June 1st year ago, and twice or three
times as was held on June 1st several
preceding years. Reports of wheat,
United States and Canada, ending June
9TH, equal 2.743. 900 bushels, against 2, 400,-
600 bushels in the preceding week, $780,
900 bushels in the week a year ago, and
3,052, 900 bushelsi in tho like week of 1892
Special kilograms from leading trade
centers throughout the Canadian domin-
ion have continued to grow somewhat
unfavorable from week to week within
month or two.
The number of business failures in The
Dominion this week is 81, against SO last
week, 36 in the week year ago, and 81 in
the year before that