Daily Kennebec journal., 1896-10-24
BRADsTREET'S REPORT.
Wheat FURRY Feature Of Week-0ther Business
Awaiting Election Outcome.

New York. Oct. 23-Bradstreets, to-
morrow, will say: General trade contin-
ues along conservative lines, buyers and
sellers preferring to defer business until
after election. Traders are more hopeful
as to the outlook for business later in
the year and next spring.
The reaction in wheat prices after an
advance of % cents is the natural result
of a desire to realize profits, and the ad-
vance in rates for money and enormously
heavy receipts at primary markets Is
paratively small stocks of wheat in the
importing countries and the decrease lii
the worlds total production of wheat for
two years in succession the unexpected
shortages in Russia. India. Argentina and
Australia. and only an average crop in
the United States. are interpreted to
mean that the price of wheat will further
advance.
Mercantile collections continue difficult
to make as heretofore. except in few
of the larger cotton growing states and
in the spring wheat region, where the
rapid marketing Of cotton and wheat has
rendered funds more plentiful. There is
disposition on the part of the planters
to hold the cotton for an advance: an
other cargo of wheat has gone from San
Francisco to India: the Tacoma and Sc
attic lumber and wheat export interests
continue active: large number of man
ufacturing industries have started up;
and the outlook for export trade Is such
that available vessel room has been en-
gagged for months in advance and freight
rates continue upward.
Corn prices sympathize with the wheat
quotations. and the only other two prom
inent products. the prices for which are
lower are apples and cottonseed oil.
Firm and practically unchanged prices
for pork. lard. coffee. sugar. cotton. re-
fined petroleum and copper indicate the
strength of the general market. and ad-
vances are reported for wheat flour and
oats butter, cheese ana eggs, canned veg
etables and dried fruits among fruit pro-
ducts; wool. leather. print cloths. pig. tin
and crude petroleum. The interest in iron
and steel products lagS. but the prices are
firm. buyers evidently preferring to pay
more after Nov. 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.
The exports of wheat (1our included as
wheaD from both coasts of the United
States and Montreal. this week, were
not quite as large as for the four preced-
ing weeks. but heavier than in the corre-
spending weeks in the three preceding
wears amounting to 3.S23.o0 bushels, com
| pared with 265S, 900 in the corresponding
week of year ago. 353,0o0 two years;
ago, and 1927 900 three years ago.
Exports of Indian corn continue heavy.
amounting to 2.S91. 1893 bushels for the
week. 80 per cent. more than last week.
more than twice as much as the week, a
wear ago. and 30 times as much as the
corresponding week of 1894.
Total bank clearings in the United
States We're S1041 ,00o, 600. about per cent.
more than last week and 10 per cent. less
than in the third week of October. 1895.
| Two hundred and ninety-two faliure
are reported throughout the United
States this week SO more than in the cor
responding week of last year.