The daily morning journal and courier., 1895-11-02
THE CONDITION OF TRADE
VOLUME OF BUSINESS HAS BEEN SMALLER DURING THE WEEK.

New York, Nov. 1,-Bradstreets will say tomorrow: The volume of general business has been smaller this week, due in part to drouth, although the widespread rains during the latter DOT tion of the week have gone far to break the dry spell.
 West and northwest the commercial demand has been mainly for staples, but with a falling off in volume. Ex- tremes are found at Cincinnati, where business has been dull, and at Kansas City, where it is up to the average at this time, with heavy mail orders. Dis tributing centers at the northwest, from Chicago to Omaha and Duluth to Sioux Falls report reaction in demand, which is likely to await the arrival of winter weather.
 Larger eastern business centers feel the effect of the falling off in demand at the west, notably Boston, Philadel- phia and Pittsburg. The situation at Buffalo, as at other lake ports, is bet ter, owing to an active season on the lakes Coal shippers have been refus- ing western orders because of lack of cars, and lake transportation generally IS inadequate to meet the demand of the close of navigation.
 After severe liquidation the New York stock market has recovered from the lowest prices. Bear covering caused the improvement and public interest is still absent. A liquidation in the Eu- ropean money imitation is considered inevitable, and is made more proba- ble by the warlike political situation in the east.
 At the south general trade among jobbers at almost all points is only fair, and in some sections mercantile collections are slower, with farmers holding their crops. Business at New Orleans at the close of the month is smaller in volume, as is usual, Gal weston reports very little Texas cot ton remaining in producers hands and reports falling off sharply. But gen. eral trade has improved somewhat at Memphis, Atlanta, Augusta, and to a greater extent at Birmingham, where the output of coal and iron is much larger than heretofore and the number of employees at work correspondingly increased, with the prospects more fa- vorable than for months past. St. Louis jobbers believe next springs bus. mess at the south will be the heaviest for years.
 No marked changes are reported from the Pacific coast At San Francisco improvement in prices is shown in few lines, notably wheat At Seattle the volume of business last month was lar ger than in September, Trade at Ia coma is quiet, but importations during October were valued at nearly $5,OOO,- 900. Portland advices are that large shipments are being made to China, Mexico and California, while sales at the east are heavier and prices higher.
 Industrial lines retain the features of previous weeks. Production of iron and steel remains at the full, with more steadiness in prices than last week.
 Recent sales at cut quotations are known to be resales of purchases on speculation. The weaker, which affects leather and hides, is competition, which checks purchases of shoes, buyers pre- ferring to wait Eastern advices are that dullness characterizes the shoe in- dustry and many factories are idle. Business in wool has fallen off one-half, manufacturers having filled immediate requirements and preferring to wait un- til the goods market starts up before buying further. Woolen machinery continues only partly employed, with a less favorable outlook than hoped for. The price of wool abroad is weaker. Recent weather conditions have helped retailers of cotton goods, which have remained firm in price, notwithstanding the break in quotations for raw materi- al. Demand for window glass contin- ues brisk, as does that for coal.
 Prices of staples this week, on the whole, have been steady. Raw cotton and wheat have advanced, as well as anthracite coal, while naval stores, leaf tobacco, lumber, rails, steel billets, Bes- semer pig iron, several varieties of cot ton goods and wool, although the latter is weaker, are unchanged.
 The reaction in leather prices Is based on competition between large interests. Lower prices for wheat appear due to continued neglect of supplies here by foreign buyers, together with heavy weekly receipts. The extraordinary large crop of Indian corn is behind the drop in that cereal as well as the lower price of lard. A smaller quotation for sugar calls for no comment.
 Bank clearings in the United States this week amount to S1 ,0S2, ,0000 GOO, a fall ing off of nearly per cent. compared with last week, but r per cent. larger than in the week one year ago, per cent larger than in the like week of 1893, and nearly 23 per cent. smaller than in the last week of October, 1892, when the aggregate clearings were exception ally heavy.
 Bank clearings at sixty cities aggre- gate s, ,191, ,662, ,727 for October, the larg- est for any one month since May, 1893, 9 per cent. larger than in September, this year, PA per cent. larger than October a year ago, 30 pre- cent. alrger than in October of the panic year, 193; only per cent. smaller than in Octo- Der, 1892, year of large business, but F per cent. smaller than December, 1892, the heaviest months bank clear ings on record. Heaviest gains are shown in the middle states, closely ap-