The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1895-09-28
THE CONDITION OF TRADE
STRIKING FEATURES 4RE IN
CREASED DEMAND FOR MONEY.

Sudden Changes in the Weather, Ihough'
Have Made General Trade Irregular
Prices Have Remained Firm-General
Business in the South Has shown Inn
piovemeut.
New York, Sept. 27.--Bradstreets will
say tomorrow: Striking features Of the
week are increased demand for money
east and west, the maintenance of the
widespread and active demand for iron
and steel, and the further upward move
ment of the prices for raw cotton, to-
gether with advances in quotations for
wheat flour, wheat and wool. Sudden
changes in the weather affecting a wide
eXpanse of territory have made general
trade irregular, but reports from those
ections unfaVorably affected are in part
offset by the stimulation of demand for
certain staples in other portions of the
country. The improved demand for
funds continues a feature of the money
market at Boston, New York, Chicago
st. Louis and at minor centres. In
quiry among bankers at cities referred
to reveals better demand from all
classes of mercantile borrowers.
Bank clearings throughout the United
States aggregate $99s 900 this week,
eight per cent less than last week, but
twenty-one per cent larger than in the
last week of September 1894 and thirty
per cent. larger than in the correspond
ing week of 1898. Contrasted with the
corresponding total in 1892, a year of
large volume of business, the current
weeks transactions, as indicated by the
bank clearing total, show a decrease OF
sixteen per cent Increase in bank
clearings among the more important
cities this week are: New York 30 per
cent. Cleveland 90 per cent, Boston and
Providence % per cent. each, Pittsburg
q per cent, Cincinnati Is per cent,
Philadelphia 16 per cent st. Louis II
per cent, Peoria Is per cent, Minneap-
oils Z per cent. and Chicago 5 per cent.
Speculation In the New York stock
market this week has been absolutely
professional There has been a strong
er tone, with demonstrations of strength
in industrials led by Distillers and the
anthracite railroads shares under the
influence of Reading. Speculation has
turned in the main upon the exchange
market and the gold-shipping outlook.
Demand sterling has been down to
S4.SSA, but at the close of the week ral-
lied to $4SS1s q s4SS% At these fig
ures exports of specie to London direct
would be improbable, but the leading
amateur" gold shippers have taken
So, 800 900 from the sab-treasurY for ex-
port to Germany presumably on spec
ial order.
The general tendency of the price
movement is the reverse of that shown
in several weeks. Live stock at wes-
tern markets has been in very liberal
receipt, and prices are low and weak.
Indian corn and pork are also lower
with downward tendency. Prices
have remained firm and unchanged for
iron and steel, oats. lard, coffee and
leather while the upward movement,
| in addition to the items specified, IN
cludes sugar, print cloths, petroleum,
turpentine, anthracite coal and Havana
eaf tobacco. The latter is advanced on
demand in expectation that the war
in Cuba will curtail supplies in the near
future. Higher prices for foreign woods
| in London have compelled domestic
manufacturers to pay more for raw ma
terial. At present quotations foreign
| woods in domestic markets can he sold
abroad at a profit. Trade in light
weight woolens is unsatisfactory, and
owing to the high price and strength
of cotton, caution is being exercised
| in buying cotton goods The south
| is more bullish on cotton, and the con-
| tinued evidence of a short crop appears
| to have at last compelled recognition
abroad.
| General business at the south has
shown improvement at Memphis, Nash
VILE Atlanta and Birmingham De-
mand for funds there is improving,
and all that appears needed is freer
| movement of cotton. On the Pacific
coast Seattle continues to ship general
| merchandise to Central America and
| to Alaska freely and Tacoma reports
| the wholesale grocery business heavier
| than in 1894, with the Alaska trade i'm
proving. General business at San
Francisco is comparatively quiet. The
canned fruit output of California will
| be about equal to that of last year.
| The advance in the price of wheat
| on reported damage to the crop in Ar
gentine may or may not be the be-
ginning of an upward movement, but
| accepted statistics concerning supplies
| of wheat in this country, if not dis
| credited in the near future may compel
wheat prices to follow in the footsteps
of those of iron.
| The failures in New England during
| the past nine months We're 1853 with
assets $7,170,1SS. Liabilities SIS, ,3S2, 1893,
against 1885 failures with asests &c.
| 512 480; liabilities $14,445,75O during the
| like portion of last year. In the prov
| ince of Qeubec general trade shows
| improvement since August. Demand is
active for sugar, teas and canned goods
and with settled business ii is be-
| ileved orders for dry goods will be i'm
proved. At Toronto wholesale business
| is comparatively quiet but prospects
are for an active business.
Advices from St John, N. B., are
| that wholesale trade is quite satisfac-
| tory. many customers from a distance
| being present. The Nova Scotia apple
crop will not be as large as last year,
| but the quality will be good. Bank
| clearings at Winnipeg, Hamilton Tor
onto. Montreal and Halifax aggregate
| s19, ,26S, 600 this week, falling off of
about 4 per cent. from last week and