The herald., 1894-10-06
A REVIEW OF TRADE.
Low Prices OF Wheat and Cotton De
press Manufactured Products.

Low Prices of Wheat and Cotton De.
press Manufactured Products.
New YORK, Oct. 5.-R. G. Dun & Co.'s
weekly review OF trade tomorrow will
say:
With the chief crops OF tho west and
south sinking in value, it ia not strange
that purchases of manufactured pro-
ducts are smaller than was expected.
Wheat has touched the lowest point
ever known for options. and the accu.
mutations OF stocks is disccuraging to
purchasers for an advance. Holders are
compelled to sell at prices below the or
dinary coet OF raising crops, and in some
western states there is also lamentable
failure of the corn crop. Under the
circumstances it would be q strange
thing If the demand for manufactured
products should be quite as large as in
former years. Wheat suffers most from
accumulation of stocks in sight, which
are far beyond what is usually expected
for the season, and the exports in
September were usually smaller than
the first week of October. Atlantic ex-
ports were ,017 1926 bushels against $685.
1856 last year, and western receipts were
only 4.6l5. 900, asainst 6.130,GS7 last
year, and these figures give some en-
couragement, but have little influence
in view of the unusual visible supply.
The price for cash wheat is small
fraction higher for the week.
Corn receipts at the west have only
been third as large as they were last
year. with exports amounting to moth
ing, but the price has not further de-
clined after the heavy fall during the
previous fortnight.
Pork products are weak in tone,
though only lard is quoted lower.
Cotton is $50 lower, the price being
the lowest known for 45 years, end con-
sidering the difference in classification,
il ie, perhaps. lower than in any year
since 1849, and estimates that the crop
is more than 10,000,000 bales are more
commonly credited now than estimates
of S,400,000 bales were two montho ago.
With favorable weather the yield esems
likely to be the largest ever known.
The condition OF the manufacturing
industries is in some respecte more sat-
isfactory. Evidently there is a larger
demand for iron products than there
was month ago, although the increase
by output has been somewhat greater
than the increase in the demand, 60
prices steadily tend downward. Besse-
mer pig is selling at $1.90 at Pittsburg
and bar iron at 95c, with steel bars at
$l.05, while contract to suppress the
principal western competitor in nail
manufacture is expected to hold the
price at 81 for wire and $50 for cut nails.
The structural iron market is fairly
active at the west, without change at
the east, and while the coke output has
become the heaviest ever known, 149, ,770
tons for the week. the price is declining
and steps are being taken to limit the
supply. The boot and shee trade con-
tinues to deliver more goods than in any
previous year, as il did in September,
and most of the works have orders for
one or two months ahead, mainly for
lower medium priced goods. There is a
little better demand this week for goods
of higher quality, however. and the
demand for leather is still reducing the
reserve.
The failures for the past week have
been 2l9 in the United States against
320 last year. and 80 in Canada, against
45 last year.