The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1896-12-23
WEATHER INTERFERES


sale l. mes IL In Groceries, Candles, Fruits
and Nuts-Dry Goods Market Quiet for
seasonable Eabrics-Improvemen I'm the
Stock Market Arrested-senate Action
Sends Prices Down.
New York, Dec. 21.-Bradstreet's
says: Wholesale trade continues OF
smaller volume than expected. practi-
cally the only activity in the wholesale
lines being in groceries. candies, fruits
and nuts. The weather has interfered
with seasonable business. w.Iich at
many centers is smaller than i'm preced-
ing years. in that larger proportion
of purchases are of a cheaper grade of
goods.
The downward tendency OF prices
pointed out a fortnight ago is continued.
This includes quotations for hides,
which caused boot and shoe jobbers TO
restrict purchases, anticipating cuts in
prices for shoes: steel rails. steel bill
lets and Bessemer pig iron; cotton, too,
is lower on confidence of larger crop
than expected; print cloths, as prod
ucts of that staple, and because of the
large stock of the same: anthracite
coal, Indian corn. oats and petroleum.
Steady or practically unchanged quota
tons are reported for pork. lard. coffee
and sugar. Wheat and resin are
higher.
The dry goods market is quiet for sea-
sonable fabrice. jobbers reporting only
q small record of trade. Wooden mills
report q moderate quantity of orders.
At the south the decline in prices of
raw cotton may affect country mer-
chants who are still carrying that sta
pie.
Exports of Wheat and Flour.
Exports of wheat flour included as
wheaD from both coasts of the United
States this week amount to S,524.S26
bushels as compared with Apo,
bushels last week, 2.056,000 bushels in
the corresponding week one year ago,
2,605, 900 bushels three years ago. and as
contrasted with 4,247 900 bushels in the
like week Of 1892. Exports Of Indian
corn from both coasts continue heavy.
aggregating 2,S14150 bushels, as COM
pared with 3.541 90 bushels last week
2,O57 900 bushels In the week year ago.
and an average of about 100000 BUSH
els each in corresponding weeks in three
preceding years.
There are 359 business failures report
ed throughout the United States this
week. twenty-five fewer than last week.
and twenty-six less than In the CORE
spending week one year ago. AS COM
pared with the like week in 1894 this
weeks total shows a gain of fifty, and
with the corresponding week i'm 1893 the
gain is six. In the third week of De-
cember, 1892. there were sixty-one few
er failures than this week.
There are thirty-nine business fail
ures reported from Canada this week.
compared with forty-two last week and
forty-two in the week year ago.
improvement in stocks Arrested.
Bradstreet's review Of the stock mar
ket says: Shortly after noon on Friday
the market received "A shock from the
announcement that the senate foreign
relations committee had decided to re-
port with favorable recommendations
Senator Camerons resolutions recog
nizing the independence of Cuba.
Heavy liquidation and marked decline
ensued the market being apparently
without support save from the buying
to cover shorts. The violence of the
break and the attendant circumstances
recall the Venezula episode of last De-
cember. and ii would seem that the
street" was to some extent influenced
by the memoirs of that occasion and
were thus, possibly. disposed to exag
gerate the danger of the situation. eth
er as regards its political consequences
or it's effect on prices either here or in
London.
Up TO the moment that this develop
ment appeared sentiment was appar-
emily changing for the better and prices
toward the close of the week displayed
more or less improvement, mainly on
covering by the short interest. Infor-
nation from Washington seemed to
minimize the chances of anything be-
ing done there in the Cuban matter
prior to the recess OF congress
Covered short Lines.
Indeed. the fact that the body will
suspend it's session on next Tuesday for
an entire fortnight, coupled with addi
tional Indications that no important
legisla ton can be carried through at
the present short session. was received
in Wall street with evident signs OF re-
lief Large speculative interests. par
ticularly those which receive their in
spiration from Washington, undoubt-
eddy took advantage OF the depressed
state OF the market early in the week
and covered extensive short lines The
followers, who were mainly recruited
from among the room traders, finding
the market oversold. supplied buying
power which caused the Improvement
already noted. while bull pools i'm vari-
Gus special stocks took advantage OF
the circumstances To renew their ac-
tivity, though these tendencies were
all reversed. OF course, by the sudden
change in the Cuban situation on Fri
day.
Reports that gold is likely to go to
Germany next week, though supported
by the strength of the exchange mar
ket. particularly for continental ex-
change, seemed to have little or no
speculative influence. The impression i'm