Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1894-10-25
LOWESTEyER KNOW,
WHEAT AND COTTON WAY,
WAY DOWN.
UNNATURALLY LOW PRICES OF
THE GREAT STAPLES.
Demands for Money Unusually Small
The Treasury Rt.,l.rve Failing
Backward" Again-Internal Reye-
nue. Receipts $3,600000 Less Than
for Corresponding week. Last Year


for Corresponding week Last Year
New York, Oct. 20.--Dun & Co.
Cotton below six cents and wheat be
low 80 cents, each lower than ever,
since the present classifications Were
known, are the salient features in bus.
mess this week. The distribution OF
goods to consumers goes on fairly, but
prices have weakened little. With
many features of encouragement, bus
mess has not yet reached the expecta.
tons and it is evident that loss OF
part of the corn crop and the unnatur-
ally low prices of other great staples,
affects the buying power of millions
The western receipts of wheat Were
only 4,700,391 bushels for the week,
against 6,o64,33 last year, and at the
Atlantic ports 631,0S4 bushels, against
S93,343 last year, but the controlling
fact is that no demand as yet promises
to clear away the enormous surplus
Corn declined IL cent during the
week with receipts not a quarter OF
last years and exports not a tenth.
The pork products are small and weak
er with the lard quarter of cent
lower. With the heavy increase i'll
purchases, and decrease in sales Of
products abroad, the market for for
eign exchange is in a position to be
quickly affected by the Withdrawals of
capital or apprehensions regarding the
culture peace of Europe. 1t appears
that three trust companies here now
hold over $40,000,000 Of idle money
and cas- ern mill loans are being taken
from New York by New England
banks, While northwestern demands
for money are unusually small. The
treasury is again falling backward IN
reserve and large imports yield a lit
tie less revenue than last year while
the internal revenue for the past three
weeks is S4,b0000O smaller than Il
year ago. The iron and steel business
makes better showing this week
beSserner pig having stiffened TO $l0.-
80 ut Ptttsburg and at Chicago, and
bridge orders; but bar iron has fallen
to 90 cents for common and 81 for steel
at Pittsburg. which prices are below
those current in Great Britain. Dur
ing the pas week therc have been 253
failures In the United States. against
34l last year, and 43 in anada,
against 30 last year.
New York. Oct. 20 Eradstrcets
With few exceptions the leading fea-
ture of the business situation this
week has been a continued moderate
Improvement, although the total vol
ume Of business, so far as Indicated by
bank clearings throughout the coun-
try will require considerable eXpan-
sion to compare fayorably with the
corresponding totals of two years ago.
This relatively favorable bank clear
ing report is offset in part by the
decline in prices of staples; coffee
alone scoring slight advance.
All except the best grades Of live
cattle at Omaha and Kansas City sold
for less than week ago. while
wheat and Indian corn also have
shown declines. The productions of
iron and bessemer steel continue
heavy as heretofore. and quotations
are further shaded. Lard is lower In
price and the prospect for cessation
of textile labor difficulties at the east
has weakened print cloth market AS
serious as any other decrease is that In
cotton. The exports Of wheat, -four in
cluded, from both coasts amount Ia
3,192,000 bushels against 2,709.000 a
year ago.
The strength of the foreign exchange
and the gold engagements for the
week, aggregating 100000. disturbed
the speculative stock market and
checked activity. The current de-
creases in railroad earnings are
ascribed to the effect of heavy worlds
fair traffic of a year ago. Nearly all
the important business centers report
moderate activity, but few announce
any new features. The conditions pre-
vailing at Milwaukee and st Paul in
preceding weeks are practically with.
out change.