The Middleburgh post. [volume] (Middleburgh, Snyder Co., Pa.) 1883-1916, 1895-04-25
SPECULATION Is HOT.
Money is Diverted From Production to
Gamble in Products.

Money is Diverted From Production to
Gamble in Products.
II. q. Dun 4 Co.'S, New York, review Of
trade says;
In every speculative department business
is growing, but this is really the least suits
factory feature OF the situation. Cotton. oil
aud wheat climb above the export price, 80
that the marketing OF products abroad must
be checked, and money is ahSO spd which
ought to- be employed in productive industry
and in distribution OF products to consumers.
Everybody knows tnat oil has not risen 200
per cent because II IL intrinscally more valu-
able. nor Is wheat actually worth more than
u was two or three weeks ago. but the ex-
panslve and uplifting force has unfortunately
taken to specu ustion rather than to produc-
tion and IN W. have higher prices in all spec
ulative markets without larger demand for
consumption.
Stories OF combinations between the stan.
dard Oil Company AID Russia, "a to parti.
tion ofthc oil consuming territory, 10y no
means account for recent prices OF petroleum.
which appear TO be entirely fictitious.
There Is no evidence that cotton Is in larg.
or demand than 1t vas when the price was
IA cent lower. but prices have been SO low for
months that an upward movement was easy
without much reason, though stocks here and
abroad are 100000 bales larger than they
were at the same date after the greatest crop
ever produced heretofore, and spinnets here
and abroad have taken about coo, 900 bales
more than they have consumed. The rise
tends to prevent the decrease OF acreage
which is Its one reasonable excuse.
Wheat has advanced over Scents duringt he
past week. and the western receipts are
small. only 1,O02. .SiG bushels against ,7G6,.
800 last year, tut Atlantic exports for three
weeks OF April, have been only 5,6G6. .isl
bushels, -four included. against $3.50. 500 last
year, and there is no indication that the
fhreign demand will increase, while the pro.
spec,s for the year crop are considered cx.
cellent Western receipts are not large and
II would DO strange II they were, with prices
30 low but advancing. Exports continue to
indicate that the European demand will not
5e particularly heavy this season.
Outside OF speculative markets, the impor-
tant feature is tho rise In the pricc Of beef
but which is largely duo 20 tho control OF
sources OF supply by a few strong corpora
tions There ought 10 be. but apparently is
not, sufficient power In the hands OF the
government TO meet any such conspiracy
against the public and the proposal OF Secre-
tary Morton TO admit Mexican cattle aud
cattle from Canada on easy terms for the
benefit OF consumers is heartily commended.
though IL IL not likely TO have much in
iluencc. The actual decrease IN receipts OF
cattle at the four chic! western markets has
been 100000 head during the first quarter OF
1895, and the quantity killed has been only
50, 20 head less than last year. about 10 per
cent. but facts have little 10 do with prices In
this case, ms In the case OF oil.
In iron and steel tho situation IL rather
disappointing, although the output continues
large. a. the demand for finished products
does not seem to increase. Structural forms
are In large demand, but sales Of wirc are
about 80 per cent less than last year and IN
other branches there Is no perceptible gain.
IL Is still an open question whether the con.
sumption will support the manufacture at tho
present rate, which Is at least an eighth be.
low the present maximum. The cotton mills
are encouraged by improving prices and are
fairly busy.
Failures during the past week have been
24l In the United Statee against 2l9 last year;
"a in Canada against 40 last year.