The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1896-10-24
TRADE CONSERVATIVE.
Buyers Prefer to Wait Until After
Election.
WHEAT MOVEMENT THE FEATURE
OF MARKET LAST WEEK.

Conditions Point to Still Further Advance
in Prices-Exports Fell Off Little
From Week Ago-Bank Clearings Show
an Increase.
New York. October 23.-Bra1streets to-
morrow will say: General trade con-
tinues along conservative lines. buyers
and sellers prsfering to defer business un-
til after election. Traders are more hope
full as to the outlook for business later In
the year, and next spring. Tho reaction
in wheat prices, aftez the advance of %
cents is the natural result of desire to
realize profits, the advance in the rates
for money and the enormously heavy
receipts Of wheat at primary markets
caused by the higher prices.
The comparatively small stocks OF
wheat in importing countries, the de-
crease in the worlds total production of
wheat for two years in succession. the
unexpected shortages in Russia, India.
Argentina, Australia and only an aver
age crop in the United States are in
terpreted to mean that the price of
wheat will advance further.
to make as heretofore, except in few
larger cotton growing states, and in
the spring wheat region, where the rapid
marketing Of cotton and wheat rendered
funds more plentiful.
There is disposition on the part of
planters to hold cotton for advance. An
other cargo of wheat has gone from San
francisco to India. The Tacoma and
Seattle lumber and wheat export intel ests
continue active. A large number of
manufacturing ind ustries have started
up and the outlook for the export trade
is such that available vessel room has
been engaged for months in advance and
freight rates continue upward.
Corn prices sympathize with wheat
quotations. The only other two proml-
nent products the prices for which are
The firm and practically unchanged
prices for pork, lard, coffee, sugar, cot
ton, refined petroleum and copper indi-
cate the strength of the general market.
Advances are reported for wheat. -four
and oats, butter, cheese and eggs, canned
vegetables, dried fruits among the food
products; WOOL, leather, print cloths,
pig iron ana CruOe petroleum.. 1nb6r6st
In the iron and steel products lags.
Prices are firm. buyers evidently prefer
ing to pay more after November 8 than
to order now.
1t is noteworthy that while higher
prices after election are not predicted in
all lines. lower prices are not anticipated
for any staple.
n,he total exports Of wheat, (f1our in
c1uded as wheat) from both coasts OF the
United States and Montreal this week
are not quite large as for the four pre-
ceding weeks, but heavier than In the
corresponding weeks in the three preced-
ing years, amounting to 8, ,823, 600 bushels.
compared with 2, $4,000 in the GORE
spending week 1858. 600 two years ago.
3, 527, 600 three years ago. The exports of
Indian corn continue heavy, amounting
to 2,897, 600 bushels for the week, so pei
cent more than last week, more than
twice as much az the week of year ago
thirty times as much as the correspond
ing week of 1894.
The total bank cIearings in the United
States are 81, ,047, 600, 600 this week, about
25 per cent more than last week, 10 pei
cent less than in the third week OF o.
tober, 1895
Two hundred and ninety-two failures
are reported throughout the United
States this week; thirty three more than
in the corresponding week of last year.