The morning call., 1894-10-20
Prices Weaken a Little.

NEW YORK. Oct l9.-R. q. Dun IL Co.'s weekly
review of trade, which issues tomorrow Will
say: Cotton below &c and wheat below 55c, each
lower than ever since present classlfcat IONS
known, exports OF gold instead OF products at
such prices in october the salient features In
business this week. Distribution of goods to con-
suners goes on fairly with gains at nearly all
points in comparison with last year, but not yet at
rate TO sustain the present volume OF manutac-
turing production. so that prices weaken a little
The dom estic trade reported by railroad earnings
In october is "a per cent less than last year and
l34 per cent less than 1892 The payments
Though the principal clearing houses for the third
week OF october are 23 per cent greater than last
YEAR, but 3l.5 per cent less than in 1892. The
daily average for the month is SO per cent larger
than last year. but 1872 smaller than IN 1892.
with many features OF encouragement business
mas not yet reached expectations aud II is evident
That the loss of part OF the corn crop and the un
naturally low prices OF other great staples affects
the buying power OF millions.
W heat Tor October delivery fell to sage on
wednesday. and in spite oi some recovery the
average for october thus far is &c below the low
est monthly average ever made. which was in
September, and was nearly 1Oc below the lowest
price OF this year, the October average being 5Oc
below that or october. 1891 1882.
Western receipts are only 4,70O.491 bushels
for the week against 8. .064.33S last year. and At
lanllc ports 63l.O5i bushels, against o95.S45 last
year, but tue controlling fact Is that no demand
as yet promises Go clear away the enormous sur
| plus
Corn declined I.@1c during the week with re-
ceipts not quarter OF last years ana exports not
|
PORK products were small and weaker with lard
| IA C lower,
| Cotton sold at 5.9zc on Thursday, and with
| Ellison's estimate that the world Will consume
| S,24S,OO0 bales American, the stock OF 2OUO.OOO
bales in sight, and the estimated yield of over
9,OOo.OOO bales, deter buyers. Domestic exports
from this city in TWO weeks of October were lS
per cent less n value than last year. while the in-
crease In the yalne OF imports, exclusive OF sugar,
has been 27 per cent Much OF the decrease in
exports is in price. but in August and september
| the quantity OF wheat decreased over third.
| Provisions ana cotton gained, but oil decreased
| and Ill minor prOuucts exports in september de-
| clned 10 per cent. The Increase OF exports ex-
ciusIye OF sugar. was over 20 per cent IN Septen-
Der. With this heavy Increase in purchases ana a
| tor foreign exchange is in position TO be quickly
| Affected by Withdrawals OF capital or apprehen-
| Slons regarding the future peace OF Europe. 10
the halt million dollars paid Tuesday, II Is e1-
pected that as much more will be added to-day.
| 1t appears that the three trust companies have
now SsU ,009. 900 id money and that Eastern
mill loans being taken from New York by
| English banks. while the northwestern demand
| for money is unusually small. The treasury Is
| again falling back in reserve aud large I'M
ports yield little less revenue than last year.
while internal revenue for the past three weeks Is
/ 81, 500 600 smaller than year ago
The IRON and steel business makes better show
ing this week. BesSemer pig having stihened 20
Sl9 90 at Pittsburg, and AZ Chicago and New York
further structural and bridge orders have been
placed. but bar iron has fallen to 9Oc Tor comm
and 81 tor steel at Pittsburg which are prices be-
low these current in Great Britain. There is a
good demand for sheets and some good bridge
contracts are reported.
| The Pennsylvania Railroad report It's material
account for so per than that OF last year
up to date. During the past week the failures
have been 253 In the United states against 34l
last year. and 43 in Canada against 29 last year,