The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-11-02
Business Men Not Hopeful of
Currency Reform.
WHAT WILL CONGRESS Dor
Europe No Longer Dependent on This
Country for Wheat,
Decreased Use OF Wood for Building
shown by the small Demand tor
Nails = Exchange Has Reached
Point Where Gold shipments Ars
Probable.


Probable.
New York, Nov. 1.--,Bradstreers finan-
c.al review viii say: Further weakness
IN prices. accompanied by liquidation OF
speculative holdings. marked the early
part of the week. IL would. however.
seem that the settling Of weakly held
stocks IS now practically over. and that
= great many shares have passed into the
possession Of strong people. There has
accordingly been a rally on close range
quotations.. though the market is narrow
and professional in character, ana dis
plays no little uncertainty in its tenden-
c.es. The bear traders have been active.
and the improvement was apparently the
result OF covering OF their short con-
tracts, as even At the decline n prices
the public seems TO find no attraction in
the stock market Several causes con-
tribuied 30 make break in prices such
as the market has just experienced not
only necessary but healthfui.
Despite the large volume OF railroad
traffic In certain sections and the accom-
psnying upward movement in earnings.
there has hcen a fear that the continued
drouth IN the West and Southwest would
have an unfavo-ahIe effect later on.
The condition OF the exchange market
does not mend this week. having wit
messed another advance in rates 20 a level
a which gold exports could again be ex-
ecuted. The coming session OF congress
creates fear that shile agitation of the
currency problem may ensue, settle
ment of tho matter on lines acceptable To
financial interests is improbable. The for-
e.gn Influences. too, have been alIogether
adverse. Europe still msnifests distrusE
OF our financial situation. and some Lead
ing authorities are said TO entertain be-
lief that gold will go 10 a premium IN this
country.
Dun's Review OF Trade.
r G. Dun & Co.'S weekly review oc
trade tomorrow will say; The rapid
growth in cotton and the rise in sterling
exchange 10 the point At which the LAST
exports of gold were made have not In
creased confidence. There ia little better
feelin: retail distribution is fairly en-
couraging, and the closing of many
works is less significant ut this season
than IL might he at another. IL Is be-
leved that waiting and uncertainty may
naturally continue for some weeks.
Wheat has declined 1s4c and corn 2i5c in
spite OF the many adverse reports about
winter wheat. The present large ship
mcafs from other countries. the small
Atlantic exports. in five weeks only I.30e.-
sol bushels. -four included. against H.
724 ,so2 last year, and the Western re-
ceipts for five weeks, 37.105,4D bushels.
against g, eo0,973 last year. affect opinion
more directly than ideas about next
year's Weld Very large estimates of tho
corn crop have depressed prices. al
though exports have been In i've weeks
lgal2 S2f bushels. against 4S23.e9S last
year. fact which has It's weight In the
wheat market also. Pork and lard arc
not much changed, though hog receipts
and hacking are heavy. The heavy wheat
and corn movement helps the railroads.
but though the earnings thus far report
ed for October are So per cent. larger
sfszA al a
more gain than the others. they are a.f
nar cent smaller than in 1882.
The larger demand for manufactured
nroducts has held the prices OF cotton
goods and even advanced some prints. IN
snite OF last weeks decline in couon-
moderate stocks.
More activity is also seen I'm iron and
Sfeel plate products, though Bessemer and
gray forge hile;s and plates are a htts
lower and the average on quotations giVen
today is 25 per cent lower than NJ 7he
highest pnint and ! per cont. aower fhan
in october three years ago. ana there ~
also a shading OF quois tions 10 secure good
business. The nail combination reduced
its November output TO a third or Us nsni
quantity. and the nail output this year
has been ONLY about hair that r@quireh TOE
renewals. which shows the enormous IN
crease In the use Of steel for building ana
DINER purposes Minor metals arc sha's
weaker. and American tin plate makers
ara talking good deal ~ better business
nv selling at 10 cents below prices for for
eign plates.
Bradstreet'@ Review of Trade.
New York. Nov. l.-Bmdatreets fornor-
row viii say. The volume Of general bus
mess has been small. owing IN part 20
drauth. although the widespread rains dur
ing the latter rart Of the week have gone
far 20 break the dry spell. IN the West
and Northwest the commercial demsn NJ
mas been mainly FOR staples. bat With a
falling 0ff lu volume. Extremes are found
In CinrinnatL where business has been
dull. and At Kansas city. where II i7 ~
- the average AZ this time. with heavy
rnaH orders. Distribution cent"rs At ms
Northwest. from Chicago TO Omaha and
Duluth 70 Sioux Falls. report a reaction
in demand. which Is likely 10 await tho
arrival OF winter weather
No marked changes are reported from
the Pacific coast AZ San Francisco i'm
provcment Sra prices Is shown In few
lines notably wheat. Al Seattle ths OUT
come Of business last month WAS larger
thsn I'm September Trade ~ Tacoma Is
outef bat imports during October we're
valued a. nearly zoo 90. Portland ad-
vices are that large shipments are being
made 20 China. Mexico and California
while sales al the East are heaEier and
prices higher
Exports OF wheat. -four included as
shaar. from both coasts and from Mon
freai aggregate 2.7is.oo0 bushels this week.
against q e5s 90 last week. 2ss4.oo0 in tbs
week one vcar ago. 2.sgo a00 two years ago,
and s7i4 60 bushels ia ghe like week three
years ag0.
Eurfnesg failures throuxhout the United
States number 80 this week. and show
A considerable increase over last week.
az well as the like week a year ago, when
the totals were respectively I'd and 2sg.
This weeks GAINS being very generally
distributed The total number of rnercsH-
tile failures reported from the Dominion
OF Canada this week rs f0rty-eight Last
week the total was thlrty-siT. and IN ths
week one year ago Il was fortysix.
THE DEFICIT IN OCTOBER.
-. -rs.. so ann aaa 4, Gcf,a 81 -